Vantage Towers Ag · HAM:VTWR
Vantage Towers — H1 FY22 Earnings Presentation
16 slides from Vantage Towers's earnings presentation, November 2021
Slide 1: Slide 1
Slide 2: H1 FY22 at a glance
ris Our Hl FY22 at a glance We are further driving the commercialization of our business We delivered ~570 net new tenancies in H1] FY22 resulting in a tenancy ratio of 1.42x GLBO progressing well with 250 signatures in Spain and Germany and over 60 in other markets We delivered solid top line growt
Slide 3: We are raising our RFCF guidance for FY22
rca We are raising our RFCE puidance for FY22 * Strong commercial momentum: Net increase of c.570 new tenancies in H1 FY22 driving our tenancy ratio to 1.42x of +2.5% and +0.8% respectively in line with our financial guidance * Strong RECF generation of €284m mainly driven by a combination of optimi
Slide 4: We are further driving the commercialization of our business
VANTAGE TOWERS We are further driving the commercialization of our business (9) am iN ©@ DIGI 20 Es Re * Agreement signed for two years covering 100 new tenancies * 10 years’ retention agreement for existing 51 tenancies + New agreement with Itelazpi for sharing network infrastructure in the Basque
Slide 5: We are delivering on our commitments as an independent tower company
Hieea We are delivering on our commitments as an independent tower company Macro sites 0.2 0.2 + BTS roll out () ~190 new macro sites delivered in the first half year + Decommissioning under way in Spain and Other New sites European Markets following active sharing - no revenue impact due to portfol
Slide 6: H1 growth positions us well to achieve revenue and EBITDAaL margin guidance
VANTAGE TOWERS Hl growth positions us well to achieve revenue and EBIDAal margin guidance €m, Sep FY22 HI/FY21PF' _-HI1/FY22 yoy yoy in% Revenue (ex. pass through) 482 494 12.1 2.5% Capex recharge revenue - 6 6.1 Revenue 482 499 7.2 3.6% Maintenance costs (16) (20) (4.1) Staff costs (19) (20) (1) Ad
Slide 7: H1 growth positions us well to upgrade cash flow guidance
VANTAGE TOWERS Hl growth positions us well to uperade cash flow guidance €m, Sep FY22 HI/FY21PF'_H1/FY22 yoy yoy in% Revenue (ex. pass through) 482 494 121 2.5% Capex recharge revenue : iy 6.1 Revenue 482 499 17.2 3.6% Maintenance costs (16) (20) (4.1) Staff costs (19) (20) (1.1) Administrative & Ot
Slide 8: Our Non-Vodafone revenue increased by 7.4% in the first half of the year
reas Our Non-Vodafone revenue increased by 7.4% in the first half of the year Revenue (ex pass through) (inem +2.0% > yO) 246 248 Q4 FY21 QIFY22 Q2 FY22 Non-Vodafone revenue (in em) 47.4% ma +4.1% + +3.1% 1 40 4) Q4 FY21 QIFY22 Q2 FY22 * Revenue (ex pass through) growth of €5m (+2.0%) in comparison
Slide 9: Our joint ventures meet expectations
c=) Our joint ventures meet expectations + — INWIT delivered revenues of €383m (33.2% share: €128m) and an adj. EBITDAaL of €251m (33.2%-share: €84m) H1 27! * +1.2k new tenants and 160 new sites in H1 21! bringing tenancy ratio to 1.95x * +570 land renegotiations and buyouts * 2021 guidance reiterat
Slide 10: We are reaffirming revenue and margin guidance and raising RFCF guidance
mvc@ We are reaffirming revenue and margin guidance and raising AFCE puidance FY21PF Outcome FY22 Guidance Medium term targets Tenancy ratio 1.40x >1.50x Revenue (ex. pass through) Mid-single digit CAGR (Consolidated Ad, EBITDAaL. ieeam few cance elenmerpeagr . FY21PF through)) Dividend Payout ratio
Slide 11: H1 takeaways
VANTAGE TOWERS Hey takeaways We are further driving the commercialization of our business We delivered ~570 net new tenancies in H1] FY22 resulting in a tenancy ratio of 1.42x GLBO progressing well with 250 signatures in Spain and Germany and over 60 in other markets We delivered solid top line grow
Slide 12: Slide 12
Slide 13: Key performance indicators by segment
“ey Key performance indicators by segment Fully-owned segments =I!) e © > 8) Consolidated Germany Spain Greece! Other European Markets €m (unless stated) HIFY2IPF = HIFY22.s-HIFY2IPF = HIFY22.—sHIFY2IPF_ = HIFY22.»s HIFY2IPF_~—s HI FY22 Macro sites (#) 19.4k 19.4k 8.8k 8.6k 4.8k 48k 12.7k 12.8k 45.7
Slide 14: Forward-looking statements
VANTAGE TOWERS Forward-looking statements This presentation contains "forward-looking statements" with respect to Vantage Towers’ results of operations, financial condition, liquidity, prospects, growth and strategies. Forward-looking statements include, but are not limited to, statements regarding
Slide 15: Proforma financial information - basis of preparation
VANTAGE TOWERS Proforma financial information - basis of preparation The purpose of the Unaudited Pro Forma Financial Information is to illustrate the performance of Vantage Towers as if the reorganisation of the Group had occurred on as at 1 April 2019. In this presentation we have presented the pr
Slide 16: Contacts
VANTAGE TOWERS Hey contacts @ XA https://www.vantagetowers.com/investor: ir@®vantagetowers.com Vantage Towers AG Prinzenallee 11-13 40549 Disseldorf Germany llext events cH- 18 Nov Morgan Stanley TMT Conference Q3 Trading Update