SES SA FDR (Class A) · EURONEXT:SESG

SES SA FDR (Class A) — SES — FY2012 Earnings Presentation

22 slides from SES SA FDR (Class A)'s earnings presentation, Feb 22, 2013

  1. Slide 1: Financial Results

    Financial Results For the year to 31 December 2012 22 February 2013

  2. Slide 2: A Year of Achievement

    A Year of Achievement  2012 was potentially a very challenging year • The German analogue switch-off took EUR 108 million out of our revenue line in 2012  SES has delivered a very strong performance • We achieved growth in our business which not only offset the German analogue switch-off, but deli

  3. Slide 3: 2012 Highlights & Guidance

    2012 Highlights & Guidance  Revenue of EUR 1,828.0 million, up 5.5% (+1.5% at constant FX) • EUR 134 million of new business offset the EUR 108 million negative impact of analogue switch-off • Growth of 8.1%, excluding the analogue switch-off impact (at constant FX)  EBITDA of EUR 1,346.6 million,

  4. Slide 4: 3-year CAGR 2012-2014 of 4.5% reiterated

    3-year CAGR 2012-2014 of 4.5% reiterated SES Group Revenue  3-year CAGR growth of 4.5%, or in EUR millions at constant FX approximately EUR 250 million, despite (@ 1.35 USD) analogue switch-off impact of EUR 150 million 150  EUR 400 million of gross new business corresponds to 3-year CAGR growth o

  5. Slide 5: FY 2012 Business Review

    FY 2012 Business Review  Contract backlog increased to an all-time high of EUR 7.5 billion (2011: EUR 7.0 billion) • Over EUR 2 billion of new and renewal business • Substantial contract renewals (e.g. BBC, Canal+, Globecast) • New business, notably DTH contracts in Latin America and Europe  Group

  6. Slide 6: Europe Business Review – FY 2012

    Europe Business Review – FY 2012  Revenue was EUR 923.3 million, down 3.6% at constant FX • A strong performance, as revenue increased by 9.1%, excluding the analogue switch-off impact • EUR 74 million of new business offsetting the German analogue switch-off impact of EUR 108 million  New and rep

  7. Slide 7: Satellite TV reception still growing

    Satellite TV reception still growing  As of December 2011, ASTRA served 62 million, or 74%, of all European satellite homes • Total reach, including terrestrial redistribution, rose to 142 million TV households • Positive trend continues in 2012 (full European survey results due March 2013)  At en

  8. Slide 8: North America Business Review – FY 2012

    North America Business Review – FY 2012  Revenue of EUR 422.1 million, an increase of 5.7% at constant FX  Revenue increase largely driven by new government service business and services rendered with SES-3 Ka-band payload  Occasional Use services were boosted by the Presidential election  GoGo

  9. Slide 9: International Business Review – FY 2012

    International Business Review – FY 2012  Revenue of EUR 482.6 million, an increase of 8.5% at constant FX • Numerous new contracts across markets served • QuetzSat-1 made a full contribution in the period  SES-4 and SES-5 were successfully launched and brought into service • Following launch delay

  10. Slide 10: Investment in O3b Networks

    Investment in O3b Networks  Two launches of four satellites each are scheduled, in Q2 and Q3 2013  Service start expected in H2 2013  New service offerings unveiled in 2012: • O3bTrunk - for internet trunking services • O3bMaritime – for maritime communications networks • O3bCell – for mobile tel

  11. Slide 11: Capacity to Increase by 22%

    Capacity to Increase by 22% SES GROUP by region 2012 2013 2014 2015 2015- (36 MHz Equiv. Total Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 H1 2017 Transponders) SES-5 ASTRA 2F ASTRA 5B Europe (+12) 28 Sep 2012 ASTRA 2E (+21) ASTRA 2G 33 9 Jul 2012 North America SES-6 (+49) 1-3 SES-4 SES-5 ASTRA 2F SES-8 ASTRA 2G SES

  12. Slide 12: Capital Expenditure is Reducing

    Capital Expenditure is Reducing As published on 9 November 2012: 835 730 680 450 450 450 450 EUR million Estimated, uncommitted potential Growth Investments (maximum) Estimated, uncommitted potential Growth Investments (minimum) Estimated, uncommitted Replacement Satellite CapEx Committed, Non Satel

  13. Slide 13: Financial Review and Analysis

    Financial Review and Analysis 13

  14. Slide 14: Financial Highlights – FY 2012

    Financial Highlights – FY 2012  Revenue of EUR 1,828.0 million, up 5.5% (+1.5% at constant FX) • New business of EUR 134 million offset the EUR 108 million negative impact of analogue switch-off • Growth of 8.1%, excluding the analogue switch-off impact (at constant FX)  EBITDA of EUR 1,346.6 mill

  15. Slide 15: Revenue Walk from FY 2011 to FY 2012

    Revenue Walk from FY 2011 to FY 2012 FX rate EUR/USD: SES Group Revenue Actual FY 2011 1.40 in EUR millions +5.5% as Actual FY 2012 1.29 +8% reported 26.4 1,828.0 68.5 1,801.6 1.5% as reported 1,733.1 +0.7 pp 13 MEUR adj.*) 2.2% adjusted *) adjusted for launch delays Excl. analogue: +8.1% and health

  16. Slide 16: EBITDA Walk from FY 2011 to FY 2012

    EBITDA Walk from FY 2011 to FY 2012 FX rate EUR/USD: SES Group EBITDA Actual FY 2011 1.40 in EUR millions Actual FY 2012 1.29 +8% +5.6% as reported 20.6 1,346.6 51.4 1,326.0 1.6% as reported 1,274.6 +0.9 pp 13 MEUR adj.*) 2.5% adjusted *) adjusted for launch delays Excl. analogue: +10.9% and health

  17. Slide 17: Infrastructure and Services Segmentation

    Infrastructure and Services Segmentation Business Segmentation FY 2012 (as reported) *) in EUR million Infrastructure Services Other / Elim. SES GROUP Revenues 1,586.4 386.9 (145.3) 1,828.0 EBITDA 1,324.8 57.2 (35.4) 1,346.6 Margin % 83.5% 14.8% 73.7%  The Infrastructure EBITDA margin of 83.5% was

  18. Slide 18: Additional Financial Information

    Additional Financial Information  Depreciation of EUR 515.6 million was EUR 83.9 million higher than in 2011 due to: • a value adjustment related to the AMC-16 satellite reflecting circuit failures (EUR 36.6 million) • changes in the depreciable fleet including the start of operations on SES-2, SES

  19. Slide 19: Backlog Increases To An All-Time High

    Backlog Increases To An All-Time High 1.4 EUR billion 1.3 1.2 1.0 0.8 0.7 0.6 0.5 2013 2014 2015 2016 2017 2018 2019 EOL  SES group backlog at 31 December 2012 = EUR 7.5 billion = 4.1 x 2012 revenue  EUR 2.0 billion of renewals and new business signed since end 2011  Some 75% of 2013 budgeted rev

  20. Slide 20: Shareholder Return - Competitive & Reliable Policy

    Shareholder Return - Competitive & Reliable Policy  Dividend per share in 2012 more than doubled since 2006 (CAGR: 14%)  2012 Dividend yield of 4.5%  Shareholder return of approximately EUR 3.8 billion over 2006-2012 • Cumulative dividends of circa EUR 1.8 billion • Cumulative share buy-backs and

  21. Slide 21: Guidance

    Guidance Proforma as reported / Outlook Reporting Growth as reported / Outlook Excluding Analogue Period Revenue EBITDA Revenue EBITDA 2012 growth as reported 1.5% 1.6% ~ 8% ~ 11% 2012 growth pro forma 2.2% 2.5% ~ 9% ~ 12% (excl. additional launch delays and health issues) 2013 ~ 4% - 5% ~ 4% - 5% ~

  22. Slide 22: Disclaimer / “Safe Harbor” Statement

    Disclaimer / “Safe Harbor” Statement  This presentation does not, in any jurisdiction, including without limitation in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any s

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