Inmarsat PLC

Inmarsat — Q2 2022 Earnings Presentation

11 slides from Inmarsat's earnings presentation, Aug 26, 2022

  1. Slide 1: Q2 2022 Results

    INMARSAT Q2 2022 26 AUGUST 2022 RESULTS PUBLIC | © INMARSAT

  2. Slide 2: Q2 2022 Headlines

    Q2 2022 HEADLINES TRADING PERFORMANCE • The Group has delivered another solid result in the second quarter, with steady growth in revenue and EBITDA reflecting the strength of its portfolio of diverse businesses, despite continued pressure from Covid-19 and supply chain challenges. – Maritime delive

  3. Slide 3: Trading Group Financial Performance

    TRADING GROUP FINANCIAL PERFORMANCE ⃰ REVENUE AND EBITDA GROWTH; POSITIVE FREE CASH GENERATION $m Q2 2022 Q2 2021 Change $m Change % H1 2022 H1 2021 Change $m Change % Revenue 363.4 346.0 17.4 5.0% 711.4 668.4 43.0 6.4% o/w Maritime 128.6 125.9 2.7 2.1% 255.2 255.3 (0.1) 0.0% o/w Government 127.4 13

  4. Slide 4: Maritime Q2 Results

    MARITIME Q2 RESULTS REVENUES CONTINUE TO STABILISE • Revenue up 2% ($3m) Q2 2022 Revenue & EBITDA ($m) – Six consecutive quarters of year-on-year growth¹ – VSAT growth offsets FleetBroadband decline 128.6 125.9 • VSAT revenue up $12m (20%) to $74m 107.7 105.4 – 12,600 FX vessels now installed (Q2 20

  5. Slide 5: Government Q2 Results

    GOVERNMENT Q2 RESULTS IMPACTED BY LOWER OPERATIONAL TEMPO • Total Government revenue down 5% ($6m) Q2 2022 Revenue & EBITDA ($m) • US revenues down $10m (10%) – Lower operational tempo 133.5 127.4 – Timing of contract milestones • Outside the US revenues up $4m (10%) 96.7 90.2 – Continued growth in

  6. Slide 6: Aviation Q2 Results

    AVIATION Q2 RESULTS MATERIAL GROWTH IN ALL SEGMENTS • Revenue up 48% ($26m) Q2 2022 Revenue & EBITDA ($m) • Core revenues up $18m (44%) at $60m – BGA up 53% 79.2 ➢ 1,197 JX aircraft now installed (Q2 2021: 980) ➢ Post Covid-19 recovery 61.6 ➢ Lower distributor incentives 53.6 – AOS up 20% : 2021 pri

  7. Slide 7: Enterprise Q2 Results

    ENTERPRISE Q2 RESULTS PERFORMANCE IMPACTED BY SUPPLY CHAIN CHALLENGES • Revenue down $5m (17%) Q2 2022 Revenue & EBITDA ($m) • Satellite phone revenues down $3m (22%) at $11m – Lower handset sales 29.8 • Legacy product revenues down $1m (11%) at $8m 24.8 – Small decreases across the portfolio 22.4 2

  8. Slide 8: Group's Liquidity, Leverage and Guidance

    GROUPS LIQUIDITY, LEVERAGE AND GUIDANCE SIGNIFICANT LIQUIDITY AND COVENANT HEADROOM $m Q2 2022 Q1 2022 Total cash, cash equivalents and short-term deposits 191.7 464.3 Undrawn RCF 700.0 700.0 Total available liquidity 891.7 1,164.3 Gross debt 3,641.8 3,639.1 Cash and cash equivalents and short-term

  9. Slide 9: Q&A

    Q&A PUBLIC | © INMARSAT

  10. Slide 10: Basis of Preparation

    BASIS OF PREPARATION Inmarsat’s Q2 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

  11. Slide 11: PUBLIC | © INMARSAT

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