SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — Q1 2015 Earnings Presentation
20 slides from SES SA FDR (Class A)'s earnings presentation, Apr 30, 2015
Slide 1: Q1 2015 Results
Q1 2015 RESULTS Three months ended 31 March 2015 30 April 2015
Slide 2: Q1 2015 highlights
Q1 2015 highlights Offering integrated, satellite-enabled solutions in four key market verticals Video Data Mobility Government Expanding SES’s business globally; International segment now delivers over 30% of revenue Securing major incremental business with existing and new customers in all four of
Slide 3: Financial highlights
Financial highlights Q1 2015 Growth vs. Q1 2014 Growth vs. Q1 2014 EUR million as reported at constant FX(1) Revenue 477.8 +2.6% -4.9% EBITDA 356.1 +3.2% -4.6% Net Profit 131.0 -12.7% n/a Comparison to prior year period affected by transponder sales and the impact of the terms of the AMC- 15/-16 cap
Slide 4: Major developments across the regions
Major developments across the regions Q1 2015 Revenue Major business developments EUR 241.0 million ▲ Comparison to prior year affected by txps sale to ETL Europe -5.3% as reported(1) ▲ Further growth in European services -4.9% at constant FX(1) ▲ LuxGovSat procurement of SES-16/GovSat EUR 91.1 mill
Slide 5: Growing SES's technical reach around the world
Growing SES’s technical reach around the world SES’s video technical reach at end-2014 vs. end-2013(1) Europe North America 154m 84m +3m +9m Africa Asia-Pacific 7m +6m 44m Latin America +2m 24m +1m Increasing total reach by 7% to 312 million TV households; represents over 1 billion people Growing In
Slide 6: Strong growth in HD TV Channels
Strong growth in HD TV Channels 6.8% growth in HD channels since Q1 2014(1) Number of total TV Channels broadcast over SES’s fleet 6,526 6,214 5,694 5,141 1,788 1,910 1,613 1,260 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Total TV Channels HD TV Channels 5 1) Source: Lyngsat, SES analysis
Slide 7: Serving major Next Generation Data requirements
Serving major Next Generation Data requirements Airbus Defence & Space to deliver new Terralink offerings for enterprise clients over SES’s global fleet ITC Global to use capacity on three SES satellites for a major global oil producer’s enterprise network Data GEE (already on SES fleet) contracted
Slide 8: O3b continuing to build its customer base
O3b continuing to build its customer base Customer base now comprises around 40 committed clients Additional customers secured in Q1 2015, including SpeedCast, Meosat, Telesom, and Presta Bist Range of services from trunking and backhaul to Government and maritime connectivity 7
Slide 9: Three satellites procured in Q1 for future growth
Three satellites procured in Q1 for future growth SES-14 (Latin America) SES-15 (North America) SES-16/GovSat (Europe/MENA)(1) Replaces NSS-806 at 47.5/48° West Growth satellite for 129° West Dedicated government satellite 48 txps, plus 12 GHz HTS payload 16 txps, plus 10 GHz HTS payload 68 txps (X-
Slide 10: Increasing coverage in emerging markets
Increasing coverage in emerging markets Two satellites successfully launched in 2014 with a further seven satellites scheduled by end-2017 Incremental capacity: 211 txps (of which 174 txps International) Incremental capacity (36 MHz equivalent) Chart Title +68 +8 +8 Successfully launched +16 +27 +0
Slide 11: Financial Review
FINANCIAL REVIEW Padraig McCarthy, Chief Financial Officer
Slide 12: Financial highlights
Financial highlights Q1 2015 Q1 2014 Growth vs. Growth at EUR million EUR million reported constant FX Revenue 477.8 465.6 +2.6% -4.9% EBITDA 356.1 345.0 +3.2% -4.6% EBITDA margin 74.5% 74.1% +40 bps +20 bps Profit of the group 131.0 150.2 -12.7% n/a Contract backlog EUR 7.4 billion EUR 7.4 billion
Slide 13: Revenue up 2.6% (-4.9% at constant FX)
Revenue up 2.6% (-4.9% at constant FX) Revenue walk EUR million 36.9(1) 502.5 465.6 477.8 (12.4) (8.3) (4.0) -4.9% -8.4% -2.6% Growth vs. Q1 2014 reported: Europe: -5.3% North America: +8.2% International: +14.8% Q1 2014 FX Q1 2014 Europe North International Q1 2015 Actual adjustment (at constant FX
Slide 14: Utilisation impacted by fleet movements
Utilisation impacted by fleet movements Fleet utilisation (36 MHz equivalent)(1) 31 March 2015 31 March 2014 Europe utilised 293 279 Europe available 366 347 Europe utilisation rate 80.1% 80.4% North America utilised 254 271 North America available 379 379 North America utilisation rate 67.0% 71.5%
Slide 15: EBITDA up 3.2% (-4.6% at constant FX)
EBITDA up 3.2% (-4.6% at constant FX) EBITDA walk EUR million 28.4(1) 373.4 356.1 345.0 7.4 (24.7) EBITDA EBITDA Margin EBITDA Margin Margin 74.5% 74.1% 74.3% Q1 2014 FX Q1 2014 Change in Change in Q1 2015 Actual adjustment (at constant FX) revenue operating Actual expenses Lower revenue partially m
Slide 16: Infrastructure and Services revenue
Infrastructure and Services revenue Revenue and EBITDA margins by segment Revenue (EUR million) EBITDA margin (%) Q1 2015 Q1 2014 at Growth at Growth vs. Q1 2015 Q1 2014 at Actual constant FX constant FX reported Actual constant FX Infrastructure 407.6 438.1 -7.0% +0.5% 84.8 83.2 Services 120.8 115.
Slide 17: Other items contributing to Net Profit
Other items contributing to Net Profit Depreciation & Amortisation expense walk Net financing costs walk EUR million EUR million 14.0 2.9 141.0 36.7 125.6 (1.5) 3.4 12.2 2.0 (30.1) Q1 2014 FX Changes to Change to Q1 2015 Q1 2014 Net foreign Net interest Capitalised Q1 2015 Actual adjustment deprecia
Slide 18: Lowering replacement CapEx; accelerating growth
Lowering replacement CapEx; accelerating growth Capital expenditure profile EUR million 835 54 Total 2015-2019: EUR 2.6 billion(1) 691 60 650 580 65 55 50 495 419 80 450 450 781 57 347 50 631 59 525 535 375 400 362 365 288 50 25 50 2011 2012 2013 2014 T 2015 T 2016 T 2017 T 2018 T 2019 Committed and
Slide 19: Growth outlook re-iterated
Growth outlook re-iterated Revenue EBITDA 2015 growth(1) Up to 1% Up to 1% 2014-2016 CAGR(1) 3.5% 3.5% 2015 a year of continued building for future growth: • Revenue and EBITDA growth driven by commercialisation of existing capacity • Lower level of outright transponder sales compared with 2014 • EB
Slide 20: Disclaimer
Disclaimer 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 securities of SES, nor should