Cellnex Telecom S.a. · BME:CLNX
Cellnex Telecom — Merger or Acquisition (May 2017)
9 slides from Cellnex Telecom's merger presentation, May 23, 2017
Slide 1: Cellnex Switzerland
Relevant information in compliance with article 228 of the Consolidated Text of the Spanish Securities Markets Law, notified to the Spanish National Securities Market Commission High voltage towers 2 customers Rural site Urban site Rural site 1 customer 2 customers 1 customer Cellnex Switzerland Ind
Slide 2: The Transaction in a Nutshell
The Transaction in a Nutshell Unique tailored MSA (1) on an extensive network of 2,239 sites with nationwide coverage Contracted organic growth Critical mass in the country through BTS (3) and DAS (4) achieved with the initial step Attractive 40-year (2) MSA BTS program deployed within 10 years Allo
Slide 3: Transaction Overview
Transaction Overview Young and high quality portfolio governed by a 40-year MSA • Full nationwide coverage • Sunrise’s strategy focused on network quality (#1 Connect Test) 2,239 sites • Sunrise as anchor tenant Customer ratio: 1.1x Urban sites: 32% • 20+10+10 years MSA Suburban sites: 41% • All or
Slide 4: Strategic Rationale
Strategic Rationale A further example of Cellnex’s competitive advantage: from MLA to MSA building-up a win-win agreement for both parties 5,500 # of sites in Switzerland High barriers to entry c.2,450 (1) 2,300 • Challenging topography Building faster scale at 1,200 Cellnex 97 • Environmental regul
Slide 5: Impact on Cellnex
Impact on Cellnex Improvement of Cellnex´s Business Risk Profile Cellnex’s backlog reaches €15Bn 2/3 revenues from TIS and >50% EBITDA from outside of Spain Improved Footprint in Europe Improvement of Cellnex’s Business Risk Profile x Country Ratings Q1 2017 Run Rate (5) AA Impact on revenue contrib
Slide 6: Appendix
Appendix 6 29th July 2016 6
Slide 7: Attractive Macroeconomic Environment
Attractive Macroeconomic Environment Favourable market conditions underpinned by highest GDP growth, coupled with low corporate tax and interest rates One of the Wealthiest Countries in Europe Superior GDP Growth 2016 GDP per capita at nominal value (CHF ’000) 2015-2020 GDP CAGR (%) 79.6 1.8 1.5 1.4
Slide 8: High Barriers to Entry
High Barriers to Entry Business model is protected by commercial and regulatory barriers to entry into the tower market Multiple Barriers to Entry High Throughput Time for New Sites Average Time to Market 2-7 Site acquisition, feasibility, technical Availability of sites/ability to find suitable mon
Slide 9: Definitions
Definitions Term Definition Profit from operations before D&A and after adding back certain non-recurring and non-cash items (such as advances to customers and Adjusted EBITDA prepaid expenses) Represents management’s estimate of the amount of contracted revenues that Cellnex expects will result in