Slide 1: Space42 FY 2024 Pro Forma Results Presentation
Space42 FY 2024 Pro Forma Results Presentation 27 February 2025 Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.
Slide 2: Speakers
Speakers Karim Michel Sabbagh Andrew Cole Managing Director Chief Financial Officer Copyright © 2024 Space42 Plc (Space42) 2
Slide 3: Agenda
Agenda 1 Key highlights 2 Strategy update 3 Financial overview (Full-year 2024) 4 Appendix
Slide 4: Key highlights
ISPACERES Key highlights
Slide 5: Key highlights
Key highlights Successful merger between Bayanat and Yahsat to form Space42 - bringing together advanced satellite communication capabilities and geospatial data analytics to create an AI powered space technology champion Strategic plan - underpinned by four core pillars focused on assuming leadersh
Slide 6: Strategy update
ISPACERES Strategy update
Slide 7: Translating vision into reality
Translating vision into reality Core pillars and sectorial priority will secure future growth, with uplift in the longer-term from key enablers Core Pillars Enabling Pillars Become preferred partner for premium geospatial data 1 Drive in-country space Build tier-1 sovereign multi-sensor EO assets an
Slide 8: Become preferred partner for premium geospatial data (1/2)
1 Become preferred partner for premium geospatial data (1/2) Build tier-1 sovereign multi-sensor EO assets and capabilities Successfully launched Foresight 1 and Foresight 2, Pioneering SAR satellite manufacturing in UAE through joint 1 2 as part of a comprehensive SAR1 Constellation venture with IC
Slide 9: Become preferred partner for premium geospatial data (2/2)
1 Become preferred partner for premium geospatial data (2/2) Build tier-1 sovereign multi-sensor EO assets and capabilities Develop fully integrated Earth Observation ecosystem in UAE 3 4 Advance next-gen HAPS1 through joint venture with FADA, an EDGE company Proposition ▪ Establish a national champ
Slide 10: Become leader in GeoInt AI platform and services
2 Become leader in GeoInt AI platform and services Develop and deliver geospatial intelligence services and industry-specific platforms Space42 and FADA announced strategic partnership to provide real-time geospatial insights for defense, security and environmental applications Geospatial Intelligen
Slide 11: Become a global NTN leader
3 Become a global NTN leader Lead the NTN revolution with IoT and D2D Thuraya-4 launched earlier this year, paving the way for next gen D2D mobile satellite solutions Thuraya 4 Next steps: Full D2D service ▪ One of the largest MSS communication satellites ever produced LEO constellation ▪ Provides s
Slide 12: Enhance leadership position in secure connectivity solutions
4 Enhance leadership position in secure connectivity solutions Deliver next gen GEO Al Yah 4 (AY4) & Al Yah 5 (AY5) program Al Yah 4 & Al Yah 5 Overview Mission • Government Mil-Ka-Band and C-Band Advantage to Al Yah 1 and Al Yah 2 • Increased capacity • Enhanced coverage • Improved security CapEx •
Slide 13: Strategic plan objective
Strategic plan objective Guided by five principles Programmatic Scalability Growth Prioritize clearly defined growth Unlock opportunities and business programs that bring incremental models which can be materially and recurring value scaled and are not constrained by geography, customer segment or s
Slide 14: 2024 Financial overview (Proforma)
3 2024 Financial overview (Proforma) Note: Unaudited pro forma financials for Space42 have been prepared to allow for like-for-like comparison, as if merger had occurred on 1 January 2023 – these exclude any purchase price allocation adjustments
Slide 15: Financial Highlights
Financial Highlights Revenue shortfall reflects temporary timing shifts in execution of a major multi-year program (Smart Solutions) and Thuraya-3 anomaly Resilient financial performance with revenue shortfall (Space Services) – recovery expected in 2025 offset by significant cost reduction and othe
Slide 16: Income Statement Highlights
Income Statement Highlights Financial extracts FY’24 FY’23 FY YoY Δ Revenue 629 772 (19%) (143) ▪ Revenue headwinds (-19%) due to temporary shifts in execution of a major multi-year program and Thuraya-3 satellite anomaly Cost of revenue (168) (263) (36%) 95 ▪ Lower cost base (-19%) reflecting lower
Slide 17: Normalized Results
Normalized Results Normalized Adjusted EBITDA Normalized Net Profit FY’24 FY’23 FY YoY Δ FY’24 FY’23 FY YoY Δ Adjusted EBITDA 317 325 (3%) (9) Net Profit 166 174 (4%) (7) One-off restructuring costs 1 3 (83%) (2) Total EBITDA adjustments (34) 5 nm (40) One-off merger costs 8 2 235% 5 Tax impact of a
Slide 18: Financial Performance - Revenue
Financial Performance - Revenue -19% 772 ▪ Revenue shortfall reflects temporary timing shifts in execution of a major, multi-year program, in line with our five principles 629 ▪ Shortfall in Space Services due to Thuraya-3 anomaly, partially 32% offset by growth across Infrastructure and Managed Sol
Slide 19: Financial Performance - EBITDA
Financial Performance - EBITDA -3% 325 317 ▪ Significant improvement in margin reflects substantial cost 6% savings as well as higher ‘other income’ (USD 30Mn Thuraya-4 liquidated damages and USD 13Mn profit on sale of non-core asset) 266 FY’24 ▪ Adjusted EBITDA only marginally lower despite revenue
Slide 20: Contracted Future Revenues out to 2043
Contracted Future Revenues out to 2043 93% of cumulative contracted revenue relates to Space Services 5,108 7,003 400 5,059 49 354 420 46 6,510 359 492 61 of which: CMSM1 - $5.1bn 381 CSA - $0.5bn T42 - $0.8bn 582 111 MSM: $0.1bn 357 493 225 2025 2026 2027 2028 2029 & beyond Total contracted future
Slide 21: Strong Balance Sheet
Strong Balance Sheet Balance sheet extracts FY’24 FY’23 FY YoY Δ ▪ Increase in CWIP1 reflects USD 290Mn ramp up of AY 4&5 program Fixed Assets (Satellites, ground as well as other major projects such as Thuraya-4 (USD 82Mn) systems/infrastructure, land and buildings, incl. 1,208 1,361 (11%) (152) ca
Slide 22: Cash Bridge
Cash Bridge +51% 103 ▪ Strong operating cash (295) 1,163 flow partially offset by 84 reimbursement of CSA 500 advance ▪ Primarily relates to Mainly comprises: satellite CapEx (of which ▪ Partial draw down of USD 228Mn for AY 4&5 770 Bridge (USD 250Mn) program) ▪ Receipt of advance ▪ Repayment of ter
Slide 23: Financial framework built on three pillars
Financial framework built on three pillars Capitalize on superior standalone and merged Vision SGAI services and pursue profitable growth opportunities, leading to increased company valuation Organic Growth 1 Inorganic Growth 2 Returns Maximization 3 Strategic Scalability, value-chain expansion Cash
Slide 24: ISPACERES
ISPACERES
Slide 25: Appendix
ISPACERES Appendix
Slide 26: Alternative Performance Measures
Alternative Performance Measures Space42 uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Group. These measures may not be comparable to similar measures used by other companies; they are neither measurem
Slide 27: Disclaimer
Disclaimer The information contained in this presentation represents a summary of the condensed pro forma consolidated financial statements for the full year ended 31 December 2024 (the full year 2024 Financial Statements) of Space42 PLC and its subsidiaries (Space42). This presentation does not pur
Slide 28: space42.ai ir@space42.ai
space42.ai ir@space42.ai Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.