Inmarsat PLC

Inmarsat — FY2022 Earnings Presentation

13 slides from Inmarsat's earnings presentation, Mar 27, 2023

  1. Slide 1: FY 2022 Results

    INMARSAT FY 2022 27.03.2023 RESULTS PUBLIC | © INMARSAT

  2. Slide 2: Revenue, EBITDA and Free Cash Flow Growth

    REVENUE, EBITDA AND FREE CASH FLOW GROWTH REVENUE EBITDA FREE CASH FLOW 1,500 900 300 1,450 850 250 200 1,400 800 150 1,350 750 100 1,300 700 50 +$350m 1,250 3% 650 6% 0 1,200 600 (50) 1,150 550 (100) 1,100 500 (150) 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 202

  3. Slide 3: Positive Momentum from a Diversified Portfolio

    POSITIVE MOMENTUM FROM A DIVERSIFIED PORTFOLIO GOVERNMENT 7th consecutive MARITIME Return to year of growth growth 600 600 (5%) +2% 550 +8% 550 500 500 450 450 400 400 350 350 300 300 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 AVIATION Strong market ENTERPRISE Diversified portfolio

  4. Slide 4: Group Financial Performance

    GROUP FINANCIAL PERFORMANCE A SECOND YEAR OF STRONG REVENUE, EBITDA AND POSITIVE FREE CASH FLOW $m FY 20221 FY 20212 Change $m Change % Q4 20221 Q4 20212 Change $m Change % Revenue 1,473.7 1,352.4 121.2 9.0% 395.7 341.6 54.1 15.8% o/w Government 526.9 490.7 36.2 7.4% 141.9 115.8 26.1 22.5% o/w Marit

  5. Slide 5: Positioned for Continued Growth in 2023

    POSITIONED FOR CONTINUED GROWTH IN 2023 Differentiated Technology Leadership Deepened Installed Base • I-6F1 launched in December 2021 and is scheduled to • Underlying growth continues with further installations, connect its first customer in 2023 contract wins and successful renewals • Successfully

  6. Slide 6: Government FY Results

    GOVERNMENT FY RESULTS REVENUE AND EBITDA GROWTH • Total Government revenue up 7% ($36m) FY 2022 Revenue & EBITDA ($m) • US revenues up 4% – Material contract wins and renewals secured 526.9 – Lower operational tempo 490.7 – Higher equipment sales 362.6 • Revenues outside the US up 15% 353.4 – Contin

  7. Slide 7: Maritime FY Results

    MARITIME FY RESULTS RETURN TO GROWTH; REVENUE AND EBITDA • Revenue increased by 2% ($9m)1 FY 2022 Revenue & EBITDA ($m) • VSAT revenue up 15% ($40m)¹ to $302m – 13,600 FX vessels now installed (FY 2021: 11,800) 506.1 515.5 – ARPU2 1% higher at $1,870 (FY 2021: $1,850) 444.7 428.1 • FleetBroadband re

  8. Slide 8: Aviation FY Results

    AVIATION FY RESULTS STRONG MARKET RECOVERY CONTINUES IN CORE BUSINESS AND IFC • Revenue up 37% ($84m) FY 2022 Revenue & EBITDA ($m) • Core revenues up 37% ($66m) to $244m – BGA up 45% 310.8 – Continued strong growth in the market – 1,331 JX aircraft installed (FY 2021: 1,118) 263.5 – Lower distribut

  9. Slide 9: Enterprise FY Results

    ENTERPRISE FY RESULTS PERFORMANCE IMPACTED BY SUPPLY CHAIN CHALLENGES • Revenue down 8% ($9m) FY 2022 Revenue & EBITDA ($m) • M2M and lease revenues down 1% ($1m) to $37m – Changing requirements of one leasing customer from Q1 2022 115.4 • Satellite phone revenues down 13% ($5m) to $35m 106.4 – Stro

  10. Slide 10: Group Liquidity, Leverage and Outlook

    GROUP LIQUIDITY, LEVERAGE AND OUTLOOK SIGNIFICANT LIQUIDITY AND COVENANT HEADROOM $m FY 2022 FY 2021 Total cash, cash equivalents and short-term deposits 342.9 394.0 Undrawn RCF 700.0 700.0 Total available liquidity 1,042.9 1,094.0 Gross debt1 3,776.9 3,794.4 Cash and cash equivalents and short term

  11. Slide 11: Q&A

    Q&A PUBLIC | © INMARSAT 11

  12. Slide 12: Basis of Preparation

    BASIS OF PREPARATION Inmarsat’s FY 2022 Results Presentation should be read alongside the Management Discussion and Analysis which is provided in accordance with the reporting requirements set out in our debt agreements. The financial information has not been prepared in accordance with the requirem

  13. Slide 13: PUBLIC | © INMARSAT

    PUBLIC | © INMARSAT 13

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