SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — Q1 2010 Earnings Presentation
13 slides from SES SA FDR (Class A)'s earnings presentation, Apr 23, 2010
Slide 1: Group Financial Results
Group Financial Results Year to 31 March 2010 23 April 2010
Slide 2: Financial Highlights
Financial Highlights Recurring revenue was up 2.4% to EUR 422 million • Reported revenue of EUR 423.4 million Recurring EBITDA increase of 2.2% to EUR 311 million • Reported EBITDA of EUR 307.6 million • EBITDA margin of 72.7% (recurring: 73.8%) • Recurring infrastructure EBITDA margin of 83.3% Oper
Slide 3: Business and Operational Highlights
Business and Operational Highlights NSS-12 satellite entered service in January SES ASTRA’s operational reach rose to 125 million homes in Europe The number of HD channels carried on ASTRA has risen to 123 Puerto Rico Telephone contracted five transponders on AMC-21 for its Claro TV DTH service East
Slide 4: Fleet investment
Fleet investment Focus on growing market segments drives our continued investment programme 13 satellites are in the pipeline for launch between 2010 and 2014 • providing replacement and incremental capacity In addition, NSS-12 (launched), NSS-5 (relocated) and Protostar-2 (acquisition) provide grow
Slide 5: Enhanced fleet delivers 28% more capacity by 2015
Enhanced fleet delivers 28% more capacity by 2015 SES Group 2010 2011 2012 2013 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q1 ASTRA ASTRA ASTRA 4B ASTRA ASTRA ASTRA ASTRA SES ASTRA YahLive 3B 1N (Sirius 5) 2F 2E 5B 2G Europe: 3, Europe: 12, 4) 4) Incremental transponders 23 21 5) 4) ME: 12 2) Africa
Slide 6: Capex spending unchanged
Capex spending unchanged EUR million SES Group 1000 875 900 50 Protostar-2 800 Committed, non- 725 Satellite Capex - 13 50 700 65 Infrastructure & 30 Estimated, 600 Services uncommitted Replacement 500 20 Satellite Capex 400 Net committed 710 646 610 10 300 Satellite Capex 450 200 300 100 5 70 0 A 2
Slide 7: Financial Review and Analysis
Financial Review and Analysis SES proprietary information 7
Slide 8: Recurring growth continues
Recurring growth continues FX rate EUR/USD: Actual Q1 2009 1.31 Actual Q1 2010 1.40 -7% SES Group Revenue in EUR million 2.4% 424 412 422 423 (1) (11) 10 1 Actual non-recurring constant FX Actual recurring Actual non-recurring Actual Q1 2009 Q1 2009 growth Q1 2010 Q1 2010 recurring recurring Recurri
Slide 9: EBITDA in line with topline growth
EBITDA in line with topline growth FX rate EUR/USD: Actual Q1 2009 1.31 Actual Q1 2010 1.40 -7% SES Group EBITDA in EUR million 2.2% 309 72.9% 304 311 73.8% 308 72.7% 73.9% 5 (9) 7 (3) 72.9% 72.9% EBITDA margin 73.9% 73.8% 72.7% Actual non-recurring constant FX Actual recurring Actual non-recurring
Slide 10: Business segmentation – Q1 2010
Business segmentation – Q1 2010 Infrastructure WORLD OTHER & in EUR million ASTRA SKIES ELIM*) SES GROUP Revenues 212.2 155.6 0.8 368.5 EBITDA 176.1 130.8 0.0 306.9 Margin % 83.0% 84.1% 83.3% Services WORLD OTHER & normalised**) One-time *) in EUR million ASTRA SKIES ELIM SES GROUP items SES GROUP R
Slide 11: Other Financial Lines – Q1 2010 vs Q1 2009
Other Financial Lines – Q1 2010 vs Q1 2009 Depreciation of EUR 109.6 million in line with prior year ¾ Additional depreciation arising from NSS-12 is balanced by the favourable impact from the weakening of the U.S. dollar Net financing charges increased (EUR 63.7 million v. EUR 41.2 million) ¾ In th
Slide 12: Guidance: 2010 adjusted, mid-term reiterated
Guidance: 2010 adjusted, mid-term reiterated 2010: Top line growth at attractive profitability levels ¾ Recurring revenue growth targets a range of 4% to 5% ¾ Recurring EBITDA growth will be in line with the revenue growth ¾ Recurring infrastructure EBITDA margin above 82% ¾ Services business profit
Slide 13: Disclaimer / “Safe Harbor” Statement
Disclaimer / “Safe Harbor” Statement This presentation does not, in any jurisdiction, and in particular not 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 securities