Eurotelesites Ag · VIE:ETS
Eurotelesites — Q2 2024 Earnings Presentation
22 slides from Eurotelesites's earnings presentation, Jul 16, 2024
Slide 1: Results Presentation of Q2 and HY1/2024
RESULTS PRESENTATION OF Q2 AND HY1/2024 Vienna, July 16, 2024
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation contains forward-looking statements. These forward-looking statements are usually accompanied by words such as 'believe', 'intend', 'anticipate', 'plan', 'expect' and similar expressions. Actual events may differ materially from those anticipated in these forwa
Slide 3: Q2/2024 Results | Management Summary
Q2/2024 RESULTS | MANAGEMENT SUMMARY ▪ 4.5% revenue growth compared to Q1/2024 driven by indexation and new tenants ▪ 64 new sites were built in EuroTeleSites base across the footprint, with 40% being Greenfield Sites Highlights ▪ Successful onboarding of 79 new third-party tenants ▪ Good progress i
Slide 4: Successful Q2/2024: 64 new sites built and 79 new third-party tenants onboarded
SUCCESSFUL Q2/2024 | 64 NEW SITES WERE BUILT AND 79 NEW THIRD-PARTY TENANTS ONBOARDED Macro towers development Tenants development Tenancy 1.23x 1.23x 1.24x Ratio +135 +56 16,521 16,605 16,740 13,465 13,496 13,552 3,056 3,109 +79 3,188 6,076 6,094 6,117 13,465 13,496 13,552 7,389 7,402 7,435 2023 20
Slide 5: Map with the New Austrian Sites
MAP WITH THE NEW AUSTRIAN SITES New upgraded rooftop site covering all bands used in Austria and offering a full 5G configuration Active Antenna Low band for 5G 6,112 Austria Octaband Antenna Low band for: 2G/3G/4G/5G 5
Slide 6: Overall Capex Mainly for Driving the Introduction of 5G and Upgrading Existing Sites
OVERALL CAPEX MAINLY FOR DRIVING THE INTRODUCTION OF 5G AND UPGRADING EXISTING SITES CAPEX Split Comments on Q2/2024 ▪ Mandatory upgrades: Make the tower ready for the anchor 22.4 mEUR tenant´s standard configuration and for a 12.6 mEUR 5% second tenant 14% 9.8 mEUR 5% ▪ Mandatory upgrades primarily
Slide 7: EuroTeleSites' Business Model Resulted in Robust Performance Across Key Metrics
EUROTELESITES’ BUSINESS MODEL RESULTED IN A ROBUST PERFORMANCE ACROSS KEY METRICS Q2/24 13,552 Sites in 6 countries 1.24x Tenancy Ratio Q2/2024 | % vs. Q1/2024 Total Revenues (mEUR) 66.8 +4.5% EBITDA (mEUR) / Margin 56.7 / 85% +4.1% EBITDAaL (mEUR) / Margin 38.1 / 57% +5.3% 7 CAPEX (mEUR) 9.8
Slide 8: Country Breakdown: Austria Is the Largest Operating Country
COUNTRY BREAKDOWN | AUSTRIA IS THE LARGEST OPERATING COUNTRY FOLLOWED BY BULGARIA AND CROATIA Q2/2024 Q2/2024 Revenues EBITDAaL* 5% 5% 11% 11% 2% 3% 11% 66.8 38.1 11% mEUR mEUR 59% 60% 12% 11% Austria Bulgaria Croatia North Macedonia Serbia Slovenia 8 *Corporate & Other, Eliminations is included in
Slide 9: Financial Details Q2/2024
FINANCIAL DETAILS Q2/2024 [eal EuroTeleSltes
Slide 10: Group Results | Q2 vs. Q1/2024
GROUP RESULTS | Q2 vs. Q1/2024 Revenues EBITDA (Margin) mEUR mEUR +4.5% 66.8 4.1% Revenues 63.9 54.4 56.7 ▪ Inflation adjustments and robust growth on new sites and tenants developed 85% 85% revenues compared to Q1/2024 EBITDA & EBITDAaL Q1/2024 Q2/2024 Q1/2024 Q2/2024 ▪ Margins remain at a very hig
Slide 11: Austria: Revenue Growth of 4.5% Driven by Indexation of MLA and Tight Cost Control
AUSTRIA | SHOWS A REVENUE GROWTH OF 4.5% DRIVEN BY INDEXATION OF MLA AND TIGHT COST CONTROL Revenues EBITDA (Margin) Revenues mEUR mEUR ▪ Revenue growth by 4.5% which is driven +4.5% +5.7% by indexation of MLA and 3rd party 37.9 39.6 32.8 34.7 revenues and by fulfilling the 3rd party order book with
Slide 12: International: Numbers in Line with Expectations
INTERNATIONAL | NUMBERS IN LINE WITH EXPECTATIONS Revenues EBITDA (Margin) mEUR mEUR +4.6% +3.4% 26.0 27.2 23.0 23.8 Revenues ▪ Inflation adjustments and growth in new 88% 88% sites and tenants developed compared to Q1/2024 Q1/2024 Q2/2024 Q1/2024 Q2/2024 EBITDA & EBITDAaL ▪ Margins remain at a very
Slide 13: Financials of HY1/2024
FINANCIALS OF HY1/2024 [eal EuroTeleSltes
Slide 14: HY1/2024 vs. Proforma HY1/2023
HY1/2024 vs. PROFORMA HY1/2023 EUROTELESITES PARTIALLY EXCEEDS ITS GUIDANCE SINCE 2023 Revenues +8% EBITDAaL mEUR mEUR 131 121 +15% 74 65 HY1/2023 HY1/2024 HY1/2023 HY1/2024 PROFORMA PROFORMA Cash Flow (1) Leverage mEUR (debt excluding leases/EBITDAaL) +23% 7.7x 7.3x 52 42 5.0x HY1/2023 HY1/2024 HY1
Slide 15: Guidance for 2024 and Mid-Term
GUIDANCE FOR 2024 AND MID-TERM Operational guidance Financial guidance Financial guidance 2024 2024 medium term (unchanged) Further development of tenancy 4-6% CAGR revenue growth ratio ~5% revenue growth with positive free cash flow EBITDA margin expansion Explore Non-MNO business opportunities CAP
Slide 16: Questions & Answers
QUESTIONS & ANSWERS Ivo Ivanovski Lars Mosdorf EuroTeleSites EuroTeleSites CEO CFO 16
Slide 17: Outlook Financial Calendar 2024
OUTLOOK FINANCIAL CALENDAR 2024 Upcoming events Date Results Q3/2024 and Q1-Q3 2024 October 15, 2024 Contact Investor Relations Moritz Palmi E: Moritz.Palmi@eurotelesites.com M: +43 664 66 39 520 17
Slide 18: Backup
BACKUP 18
Slide 19: Glossary
GLOSSARY CAPEX Capital Expenditures Total additions to intangible assets + total additional to property plant and equipment (excluding right of use additional according to IFRS 16) EBITDA Earnings Before EBIT + depreciation + amortization Interest, Tax, Depreciation and Amortization EBITDA Margin EB
Slide 20: EuroTeleSites' Profit & Loss
EUROTELESITES’ PROFIT & LOSS September 22 - Currency: TEUR Q1/2024 Q2/2024 December 31, 2023 [audited] [unaudited] [unaudited] Revenues 71 916 63 908 66 813 Cost of service - 9 023 - 6 129 - 6 839 Selling, general & administrative expenses - 2 302 - 2 971 - 3 132 Other expenses - 159 - 401 - 186 Tot
Slide 21: EuroTeleSites' Assets
EUROTELESITES’ ASSETS Currency: TEUR December 31, 2023 March 31, 2024 June 30, 2024 [audited] [unaudited] [unaudited] Current assets Cash and cash equivalents 21 026 19 169 17 455 Accounts receivable (net) 9 627 11 556 8 390 Receivables due from related parties 23 295 24 621 26 620 Income tax receiv
Slide 22: EuroTeleSites' Liabilities and Stockholders' Equity
EUROTELESITES’ LIABILITIES AND STOCKHOLDERS’ EQUITY Currency: TEUR December 31, 2023 March 31, 2024 June 30, 2024 Current liabilities [audited] [unaudited] [unaudited] Short-term debt - - - Lease liabilities short-term 49 378 50 308 52 061 Accounts payable 47 472 56 112 63 457 Accrued liabilities an