Cellnex Telecom S.a. · BME:CLNX
Cellnex Telecom — Cellnex Telecom Sa Ord — Q1 2023 Earnings Presentation
19 slides from Cellnex Telecom's earnings presentation, Apr 27, 2023
Slide 1: Path to Investment Grade and 2025 guidance on track
Other Relevant Information in compliance with article 227 of Law 6/2023 on the Spanish Securities Market and Investment Services, notified to the Spanish National Securities Market Commission Path to Investment Grade and 2025 guidance on track January – March 2023 April 27th, 2023 Results January –
Slide 2: Key highlights
Key highlights • +6.8% new organic PoPs vs. Q1 2022, a very solid quarter Solid performance of key • Revenues €985Mn, +c.19% vs. Q1 2022 (+c.15% excluding pass throughs) 1 metrics in the quarter • Adjusted EBITDA €730Mn, +c.15% vs. Q1 2022 • RLFCF €336Mn, +c.12% vs. Q1 2022 • Break even on FCF by th
Slide 3: Q1 2023 Business Performance
Q1 2023 Business Performance
Slide 4: Q1 2023 performance: consistent and solid organic growth
Q1 2023 performance Consistent and solid organic growth generation in the period, with significant contribution from new entrant in Portugal, RAN sharing agreements in Italy and Spain, and BTS programs PoPs – Total PoPs – Organic Growth 150,175 145,455 136,249 136,249 Q1Q12022 2022 Q12023 Q1 2023 Q1
Slide 5: Revenues, Adjusted EBITDA, RLFCF and FCF
Q1 2023 performance Revenues, Adjusted EBITDA, RLFCF and FCF Solid increase in all relevant metrics: Revenues +c.19% (1), Adj. EBITDA +c.15% and RLFCF +c.12% FCF trending to neutral by the end of 2023 Jan-Mar Jan-Mar RLFCF (€Mn) 2022 2023 Telecom Infrastructure Services 750 899 • Telecom Infrastruct
Slide 6: Recurring Levered Free Cash Flow (RLFCF)
Q1 2023 performance Recurring Levered Free Cash Flow (RLFCF) Organic growth impact on RLFCF +19% +19% +45 +12% +58 (1) 336 300 BTS programs (2): €19Mn Escalators/inflation: €17Mn Efficiencies/synergies: €5Mn New colocations and associated revenues: €17Mn Q1 2022 Organic growth Change of Mainly lease
Slide 7: 2021-2025 plan: optimization of leases on track
Q1 2023 performance 2021 – 2025 plan: optimization of leases on track Cellnex’s 2021-2025 efficiencies/synergies plan well on track Expected to generate c.€90Mn-€100Mn efficiencies by 2025 Site actions Efficiencies/synergies c.€90Mn-€100Mn Strong control on leases ensuring an excellent performance d
Slide 8: Balance sheet and consolidated income statement
Q1 2023 performance Balance sheet and consolidated income statement Dec Mar Balance Sheet (€Mn) Non Current Assets 2022 41,997 2023 41,961 Prudent PPA (1) process leads to maximization of the allocation to Goodwill 6,718 6,725 Fixed Assets Right of Use 30,818 3,438 30,829 3,405 a fixed assets, whils
Slide 9: Financial structure as of March 2023
Q1 2023 performance Financial structure as of March 2023 Cellnex is currently working to push forward short-term maturities 280 150 700 Roll- Instrument under negotiation ✓ Liquidity of c.€4.3Bn: c.€0.9Bn cash and 800 500 over CHF c.€3.4Bn undrawn credit lines 102 850 550 90 80 186 61 ✓ Fixed rate d
Slide 10: CEO succession process nearing conclusion
CEO succession process nearing conclusion A structured and comprehensive succession process which is now close to concluding • Structured process led by the Nominations, Remunerations and Sustainability Committee with support from a leading international search firm • Strong field comprising interna
Slide 11: Frequently Asked Questions
Frequently Asked Questions
Slide 12: Payment profile of leases and interests throughout the year
Frequently Asked Questions What is the payment profile of leases and interests throughout the year? Lease and interest payments are more intense in H1 Some lease contracts require payment for the whole period at the beginning of the year Cash-out profiles expected in 2023 to follow a pattern similar
Slide 13: Most recent developments in ESG
Frequently Asked Questions What are the most recent developments in ESG? Main FY2022 publications ESG Key Figures (NEW) Integrated Annual Report Microsite PDF Summary With the aim of improving transparency and ESG Key Figures Excel availability of sustainability data for analyst and investors, Celln
Slide 14: Situation of integration processes
Frequently Asked Questions What is the situation of integration processes? Cellnex to successfully conclude all integration processes Remedies progressing well on track Project Deutsche Cyfrowy Remedies Remedies CKH DK CKH SW Play CKH IT Polsat SFR CKH UK Telekom Closing On track Pre-closing Assessm
Slide 15: Definitions
Definitions Please see the Integrated Annual Report for a comprehensive explanation of APMs Term Definition Profit from operations before D&A and after adding back certain non-recurring and non-cash items (such as advances to customers and prepaid expenses). Adjusted EBITDA is an Adjusted EBITDA APM
Slide 16: Definitions
Definitions Please see the Integrated Annual Report for a comprehensive explanation of APMs Term Definition Investments in existing tangible or intangible assets, such as investment in infrastructure, equipment and information technology systems, and are primarily linked to keeping infrastructures,
Slide 17: Disclaimer
Disclaimer The information and forward-looking statements contained in this presentation have not been verified by an independent entity and the accuracy, completeness or correctness thereof should not be relied upon. In this regard, the persons to whom this presentation is delivered are invited to
Slide 18: Non-IFRS and Alternative Performance Measures (APMs)
Non-IFRS and Alternative Performance Measures (APMs) This presentation contains, in addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, alternative performance measures (“APMs”) as defined i
Slide 19: Essential information available on the Investor Relations section
Essential information available on the Investor Relations section of Cellnex’s website for further details on key items Q1 2023 Results Backup Excel File https://www.cellnex.com/investor-relations/financial-information/#shareholders-investors-quarterly-results Results January – March 2023 19
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