Space42 Plc · ADX:SPACE42
Space42 — Yahsat — Q3 2021 Earnings Presentation
28 slides from Space42's earnings presentation, November 2021
Slide 1: Yahsat Overview and Q3 2021 Results Presentation
Yahsat Overview and Q3 2021 Results Presentation November 2021 yahsat.com
Slide 2: Disclaimer
Disclaimer The information contained in this presentation represents a summary of the condensed consolidated financial statements for the 9 months ended 30 September 2021 (the 9 Months Financial Statements) of Al Yah Satellite Communications Company PJSC and its subsidiaries (Yahsat). This presentat
Slide 3: Today's Presenters
Today’s Presenters Ali Al Hashemi Andrew Cole Chief Executive Officer Chief Financial Officer Amit Somani Layla Al Hayyas Chief Strategy Officer Head of Investor Relations Smart satellite solutions
Slide 4: Agenda
1 CEO Message Agenda 2 Q3 2021 Business and Financial Update 3 Discussion Smart satellite solutions
Slide 5: CEO Message
1 CEO Message Smart satellite solutions
Slide 6: CEO Message: Robust financial performance continued
CEO Message • Robust performance across all business lines delivering YTD results broadly in line with prior year • Solid pipeline translating into increased business activity with new government and commercial deals adding to our contracted future revenue backlog • Appointed by UAE Government to as
Slide 7: Q3 2021 Business and Financial Update
2 Q3 2021 Business and Financial Update Smart satellite solutions
Slide 8: Business Update – Q3 2021
Business Update – Q3 2021 Update Area Appointed by UAE Government to assess expansion of existing fleet with two potential new satellites Infrastructure AY4 and AY5, to be targeted for launch in 2026 Signed MoU with G42 to form a new collaboration focused on advancing national remote sensing and Man
Slide 9: Q3 2021 - Robust Performance with sustained recovery and momentum entering Q4
Q3 2021 - Robust Performance with sustained recovery and momentum entering Q4 Sustained recovery in top line since Q1 2021 9 months revenue of USD 284.3 million, reducing year-on-year shortfall to -3.1% Clear momentum entering Q4 across all businesses New deals signed across all businesses addin
Slide 10: Yahsat Group Financial Highlights
Yahsat Group Financial Highlights Stable Q3 2021 vs Q3 2020 – sustained recovery and momentum entering Q4 All financial figures are in USD’ million Financial extracts Q1-2021 Q2-2021 Q3-2021 9 months 2021 9 months 2020 YoY % Revenue 90.2 100.0 94.1 284.3 293.2 -3.1% Cost of revenue (4.9) (8.5) (9.2)
Slide 11: Financial Highlights – Normalised Results
Financial Highlights – Normalised Results Normalised Adjusted EBITDA Normalised Net Income All financial figures are in USD’ million 9 Months 9 Months 2021 9 Months 2020 9 Months 2021 2020 Adjusted EBITDA 171.1 185.0 Net Income 43.3 51.7 Adjustments for: Adjustments for: One-off gain on transfer of
Slide 12: Clear momentum and strong pipeline across all segments is expected to support revenue growth
Clear momentum and strong pipeline across all segments is expected to support revenue growth in Q4 Infrastructure Managed Solutions Mobility Solutions Data Solutions Broadcast MEA / Brazil West Asia Minority Leasing of critical satellite Narrowband services Value added (O&M, Broadband, backhauling t
Slide 13: Financial Highlights
Financial Highlights Revenue by operating segments Adjusted EBITDA by operating segments -3.1% 9 months 2021 -7.5% 9 months 2021 293.2 185.0 284.3 171.1 16.6 -1.5% 16.2% 17.3 10.1% 179.2 177.9 6.1% 11.2% 137.2 150.6 14.7% 44.0 63.0% 41.9 17.3 20.8 80.2% 45.9 50.6 19.2 21.0 -2.6 -3.1 9 months 2021 9
Slide 14: Financial Highlights: Infrastructure and Managed Solutions
Financial Highlights Infrastructure Managed Solutions Revenue Adjusted EBITDA Revenue Adjusted EBITDA -4.6% +0.8% -8.9% 41.9 44.0 179.2 177.9 -8.6% 150.6 11.5 59.3 59.3 137.3 12.9 21.0 12.5 19.2 42.9 56.0 Prior year 4.4 one-off 16.8 5.4 60.0 59.2 1.5 17.0 48.2 48.8 9.8 9.5 60.0 59.3 12.1 15.7 46.2 4
Slide 15: Financial Highlights: Data and Mobility Solutions
Financial Highlights Data Solutions Mobility Solutions Revenue Adjusted EBITDA Revenue Adjusted EBITDA -17.0% -9.4% +18.3% 20.8 50.6 -0.6 45.9 17.3 7.4 -1.7 17.2 +4.3% 5.4 -1.1 16.5 -0.3 17.3 16.6 6.7 17.9 6.3 -0.6 -1.4 16.7 4.1 8.6 -2.6 6.6 5.5 6.7 12.7 15.5 4.1 -3.1 4.5 5.9 9 months 9 months 9 mon
Slide 16: Solid backlog providing visibility of revenues and cash flows
Solid backlog providing visibility of revenues and cash flows In H1, the 15-year T4-NGS Capacity Services Agreement increased contracted future revenues by more than USD 700m. In Q3, Data Solutions and Managed Solutions added a further USD 20 million to contracted future revenues, which remain at ar
Slide 17: Strong and well capitalized Balance Sheet
Strong and well capitalized Balance Sheet All financial figures are in USD’ million Balance Sheet 30 Sep 2021 31 Dec 2020 Fixed assets (satellite, ground systems 936.6 1,018.6 and infrastructure, buildings) Capital work in progress (including T4-NGS) 181.2 98.5 • Yahsat continues to display a strong
Slide 18: Strong Operating Cash Flow underpins progressive Dividend Policy
Strong Operating Cash Flow underpins progressive Dividend Policy All financial figures are in USD’ million Strong operating cash flow conversion on 30 Sept 2021 Efficient business model enabling strong cash generation 9 Months 2021 9 Months 2020 Robust and attractive Normalised Adjusted EBITDA margi
Slide 19: Dividend Policy
Dividend Policy In October 2021, the Yahsat Board endorsed management’s recommendation to update Yahsat’s Dividend Policy to enable semi-annual distribution of dividends going forward, subject to approval by the Shareholders at the next AGM This reflects the Board’s confidence in the financial stren
Slide 20: Discussion
3 Discussion Smart satellite solutions
Slide 21: Appendix
Kw yahsat wlw oll Appendix
Slide 22: Alternative Performance Measures
Alternative Performance Measures Yahsat regularly uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Group. These measures may not be comparable to similar measures used by other companies; they are neither
Slide 23: Who we are
Who we are 8th Preferred partner 150+ 1 billion largest satellite operator for satellite solutions to the countries covered by Yahsat people within in terms of revenues UAE Government and Thuraya satellites broadband coverage 4 billion No. 1 100+ million 50% people within satellite broadband viewers
Slide 24: Yahsat's journey to date
Yahsat’s journey to date UAE Armed Forces (UAEAF) signed YahClick launched for broadband JV with Hughes (HPE) Successfully as Yahsat’s anchor customer across MEA and West Asia for Brazil using AY3 listed in ADX 2008 2013 2019 2021 AY3 launched, expanding YahClick further (Africa and Brazil) Majority
Slide 25: Yahsat is a top ten global satellite operator
Yahsat is a top ten global satellite operator Rank (2020) Company (HQ) Revenue (Mn USD, 2020) 1 SES (Luxembourg) $2,208 2 Intelsat (Luxembourg) $1,913 3 Inmarsat (UK) $1,5011 4 Eutelsat (France) $1,492 5 Telesat (Canada) $820 6 Iridium (US) $583 7 JSAT (Japan) $4771 8 Yahsat (UAE) $407 9 ISRO (India
Slide 26: Diversified narrow and wideband frequency portfolio
Diversified narrow and wideband frequency portfolio MSS FSS L S C X Ku Ka Frequencies 1GHz – 2GHz 2GHz – 4GHz 4GHz – 8GHz 8GHz – 12GHz 12 GHz – 18GHz 27GHz – 40GHz Business Line NA NA Government and Video Military solutions Video Secure government military mobility and military capacity and solution
Slide 27: Fleet and coverage overview
Fleet and coverage overview * FSS Satellite ** MSS Satellite Al Yah 3 (AY3*) Thuraya-2** 2018-2033* 2003-2026 Ka L Al Yah 2 (AY2*) Thuraya-3** 2012-2030 2008-2031 Ka L Al Yah 1 (AY1*) 2011 - 2029 Ka,C and Ku Luxembourg Thuraya 4-NGS** 2023-2039 Greece L Spain Al Yah 1 & Al Yah 2 Gov. Coverage Al Yah
Slide 28: Thank you
« yahsat wlwolll Thank you