Thales Sa · EURONEXT:HO
Thales Sa — Merger or Acquisition (July 2023)
12 slides from Thales Sa's merger presentation, Jul 12, 2023
Slide 1: Proposed acquisition of Cobham Aerospace Communications
Proposed acquisition of Cobham Aerospace Communications 12 July 2023 www.thalesgroup.com Proposed acquisition of AeroComms - 1
Slide 2: Proposed acquisition of Cobham Aerospace Communications
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Proposed acquisition of Cobham Aerospace Communications MoU signed to acquire Cobham Aerospace Communications (“AeroComms”) for US$1.1bn(1) from Cobham Aerospace Ltd Significant opportunity to strengthen Tha
Slide 3: AeroComms: safety cockpit communication leader
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps AeroComms: safety cockpit communication leader Leading supplier of advanced, ultra-reliable innovative safety cockpit communication systems AeroComms Revenue Split (FY23E) - Full L-Band Satcom systems (anten
Slide 4: AeroComms: expertise, products and positions driving superior growth
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps AeroComms: expertise, products and positions driving superior growth % FY23E revenues SATCOM 30% Audio/Radio 40% Antennas(1) 30% SATCOM antennas Complete audio & radio Passive antenna systems enabling connec
Slide 5: Connected cockpits: at the heart of future aviation
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Connected cockpits: at the heart of future aviation Required technologies Selected use cases Permanent secured high Increased ground-on board connections bandwidth connectivity for flight operation optimizat
Slide 6: Thales & AeroComms: perfect match for future aircraft opportunities
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Thales & AeroComms: perfect match for future aircraft opportunities AeroComms Thales NEAR FUTURE (2027-2030) CURRENT L-Band SATCOM Permanent & secured connectivity with Limited cockpit connectivity Communica
Slide 7: Thales & AeroComms on board
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Thales & AeroComms on board Radio-navigation antennas ATG antennas Radio-navigation integrated antennas Aero Comms Digital Audio / L-Band SATCOM Radio controls Communications Audio and Radio Inmarsat SATCOM
Slide 8: Cost and revenue synergies
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Cost and revenue synergies Expected synergies on a ~US$200m+ revenue business (FY23E) Cost synergies: ~US$10m net run-rate p.a. Revenue synergies: ~US$40m incremental Consolidation of Thales Satcom, Audio &
Slide 9: Significant value creation for Thales shareholders
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Significant value creation for Thales shareholders Transaction terms Strong alignment with M&A criteria US$1.1bn(1) Enterprise Value Implied 2023E EBIT multiple: - 17x pre-synergies Strengthening core busi
Slide 10: Anticipated timetable and next steps
Highlights AeroComms at a Glance Strategic Rationale Financial Impact Timetable & Next Steps Anticipated timetable and next steps Works Council consultation process to be initiated Regulatory filings to be submitted Closing expected during first half of 2024, upon completion of regulatory approvals
Slide 11: Definition of non-GAAP measures and other remarks
Definition of non-GAAP measures and other remarks Rounding of amounts in euros In the context of this presentation, the amounts expressed in millions of euros are rounded to the nearest million. As a result, the sums of the rounded amounts may differ very slightly from the reported totals. All ratio
Slide 12: Thales investor relations contact
Tour Carpe Diem 31 Place des Corolles 92098 Paris La Défense France ir@thalesgroup.com This presentation contains certain forward-looking statements. Although Thales believes that its expectations are based on reasonable assumptions, actual results may differ significantly from these forward-looking