Altice Europe — Altice International — FY2024 Earnings Presentation
16 slides from Altice Europe's earnings presentation, Apr 15, 2025
Slide 1: Altice International Q4 & FY 2024 results
Altice International Q4 & FY 2024 results April 15, 2024
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitatio
Slide 3: Q4 2024 Summary
Q4 2024 Summary Q4 2024 financials summary: • Total revenue of €1,116 million, grew by +1.5% YoY on a constant currency basis (+1.8% reported) • Total EBITDA of €388 million, declined by -3.8% YoY on a constant currency basis (-3.9% reported) • Total OpFCF of €160 million, grew by +1.2% YoY on a con
Slide 4: Altice International Revenue Trends
Altice International Revenue Trends Q4 2024 FY 2024 Q4 2024 revenue trends YoY (€m) +1.8% (CC +1.5%) -1.5% (CC -0.6%) • Total: +1.8% (CC +1.5%) 4,390 • Portugal: +3.1% 1,097 1,116 4,324 • Israel: +0.5% (CC -3.5%) 139 589 554 147 • Dominican Republic: -5.5% (CC -0.8%) 255 256 1,070 1,018 Revenue grow
Slide 5: Altice International Financials
Altice International Financials Growth YoY Growth YoY Growth YoY Growth YoY Q4-23 Q4-24 FY-23 FY-24 €m Reported Constant FX Reported Constant FX Portugal 704 726 +3.1% +3.1% 2,755 2,775 +0.7% +0.7% Israel 255 256 +0.5% -3.5% 1,070 1,018 -4.8% -4.4% Dominican Republic 147 139 -5.5% -0.8% 589 554 -6.0
Slide 6: Q4 2024 Free Cash Flow
Q4 2024 Free Cash Flow (€m) 388 (228) 160 (6) (88) (25) 22 (26) (67) 72 Adjusted Accrued OpFCF Geodesia Interest Pension Taxes Dividends to Change in WC FCF EBITDA Capex OpFCF paid paydown minorities & other For footnotes see slide 16 6
Slide 7: Pro Forma Capital Structure and Debt Maturity
Pro Forma Capital Structure and Debt Maturity Altice International 0.21 0.20 3.15 2.93 2.71 Net debt €8,855m WAL 3.4 years (€bn) WACD 6.1% Fixed interest 71% Net leverage (LTM) 5.5x Liquidity €1.0bn Unsecured Net debt €675m WAL 3.0 years WACD 4.8% Secured Net debt €8,180m WAL 3.4 years 2025 2026 202
Slide 8: Q&A
Q&A altice
Slide 9: Appendix
Appendix 9
Slide 10: Reconciliation to Swap Adjusted Debt as of December 31, 2024
Reconciliation to Swap Adjusted Debt as of December 31, 2024 Q4-24 Q4-24 €m Actual Pro Forma Total Debenture and Loans from Financial Institutions 10,126 10,126 Value of debenture and loans from financial Institutions in foreign currency converted at closing FX rate -4,548 -4,548 Value of debenture
Slide 11: Leverage Reconciliation as of December 31, 2024
Leverage Reconciliation as of December 31, 2024 €m Actual Pro Forma Gross Debt Consolidated 10,258 9,222 Cash and cash equivalents -120 -120 Restricted cash -79 -79 Cash collateralized for redemption, defeasance or otherwise discharge of the €600 million 2.25% 2025 SSN -600 - Pro forma for proceeds
Slide 12: Reconciliation to Unaudited GAAP Measures
Reconciliation to Unaudited GAAP Measures €m Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Revenue - Financial Statements 1,097 1,095 1,123 1,144 4,460 Purchasing and subcontracting costs -307 -303 -337 -360 -1,308 Other operating expenses -177 -180 -178 -203 -738 Staff costs and employee benefits -160 -158 -158 -1
Slide 13: Cash Reconciliation as of December 31, 2024
Cash Reconciliation as of December 31, 2024 €m Actual Altice International cash and cash equivalents - excluding Teads & restricted cash 214 Teads cash and cash equivalents 82 Cash and cash equivalents – as of January 1, 2024 (including Teads) 296 Net cash used in continuing operations -188 Net cash
Slide 14: Q4 2024 Free Cash Flow and Change in Net Debt
Q4 2024 Free Cash Flow and Change in Net Debt (€m) 388 (288) 160 (6) (88) (25) 22 (26) (67) 72 (61) (166) (206) Adjusted Accrued OpFCF Geodesia Interest Pension Taxes Dividends Change in WC FCF Restructuring, Financing Change EBITDA Capex OpFCF paid paydown to minorities & other Spectrum & FX in net
Slide 15: ESG Key Highlights – Focus on Portugal
ESG Key Highlights – Focus on Portugal 2024 Achievements Commitments Ambitions • 454,086 reconditioned electrical and • Reduce GHG emissions in each • Net zero emissions target by 2050 electronic equipment in Portugal geography throughout geographies. By 2030, Altice Portugal undertakes a 90% reduct
Slide 16: Footnotes
Footnotes Following the agreement between Altice Teads S.A. and Outbrain, the disposal of Teads was considered highly probable and as a consequence, the assets and liabilities of Teads in the All slides Consolidated Financial Statements were classified as held for sale as per the provisions of IFRS