Lict Corp. · OTC:LICT
Lict — Shareholder Meeting (June 2022)
28 slides from Lict's shareholder meeting presentation, Jun 8, 2022
Slide 1: LICT Corporation Annual Shareholder Meeting
LICT Corporation Provider of Communication Services to Rural America Annual Shareholder Meeting June 8, 2022
Slide 2: LICT
LICT
Slide 3: Kevin M. Errity and Stephen J. Moore
KEVIN M. ERRITY Chief Operating Officer STEPHEN J. MOORE Vice President-Finance
Slide 4: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement The information contained herein is current only as of the date hereof; however, unless otherwise indicated, financial information contained herein is as of December 31, 2021. The business, prospects, financial condition or performance of LICT Corporation
Slide 5: Kevin M. Errity, COO
KEVIN M. ERRITY COO
Slide 6: LICT Today
LICT Today 6
Slide 7: Background
Background • Assumed control of Lynch Corporation in 1985 • LICT spun- off from Lynch in 1999 • Made first Rural Local Exchange Carrier (RLEC) acquisition in 1989 – 34 acquisitions and 8 spin-offs – Fiber Growth and Spectrum initiative – Continued pro-active organic and M&A growth strategy 7
Slide 8: S - Charitable Giving
E S - Charitable Giving G
Slide 9: S - Charitable Giving
S - CHARITABLE GIVING 2021- $1,185,000 Teammates $ 263,000 Shareholders $ 922,000
Slide 10: $100 per share
$100. PER SHARE
Slide 11: $7.5 million since inception
$7.5 MILLION SINCE INCEPTION
Slide 12: Service, Affordability, Availability, Speed
S - Service A - Affordabilty A - Availabilty S - Speed
Slide 13: Surge in Public Funding
Surge in Public Funding • Alternative Connect America Model (ACAM) • State Universal Funds • Federal/State Loans and Grants • Infrastructure Bill • Affordable Connectivity Program (formerly EBB Program) 13
Slide 14: Key Strengths: Revenue Streams
Key Strengths Revenue Streams Fiber Cable Fixed Wireless Broadband 14
Slide 15: Balanced Growth
Balanced Growth • Accelerated Growth in Broadband • Acquisition Opportunities 15
Slide 16: CapEx: Network Expansion, Spectrum, Acquisitions
CapEx Network Expansion Spectrum Acquisitions 16
Slide 17: Growth Strategy
Growth Strategy • Expand Fiber Network • Out of Territory Operations • Growth Priorities • Invest in network to expand geographic territory • Increase penetration of homes and small businesses in passing • Expand product and service offerings • Opportunistic acquisitions- o Adjacent locations o Towe
Slide 18: Stephen J. Moore, Vice President-Finance
STEPHEN J. MOORE VICE PRESIDENT- FINANCE
Slide 19: Financials
FINANCIALS
Slide 20: Financials
Financials (000’s) 2021 2020 Revenue $129,160 $124,174 EBITDA $57,841 $57,554 EPS - Continuing Ops $1,368 $1,336 Shares Outstanding 17,871 18,533 20
Slide 21: Balanced Operating Results
Balanced Operating Results 2021 2017 CAGR (000’s) (000’s) Revenue Regulated: $61,559 $59,203 0.8% Non-regulated: 67,577 45,702 9.6% Total: $129,136 $104,905 4.6% EBITDA Regulated: $29,292 $28,997 0.2% Non-regulated: 28,714 17,496 12.8% Total: $58,006 $46,493 5.0% 21
Slide 22: Improving Revenue Mix
Improving Revenue Mix (000s) 2021 2017 $67,577 $61,583 $45,702 $59,203 52% 48% 44% 56% Total Revenue: Total Revenue: $129,160 $104,905 Regulated Revenue Non-Regulated Revenue 22
Slide 23: Liquidity and Leverage
Liquidity and Leverage ($ 000’s) 2021 2017 Cash and Deposits $62,466 $7,054 Debt 47,325 31,001 Net Cash (Debt) $15,141 ($23,947) 23
Slide 24: Shareholder Compensation
Shareholder Compensation # of Shares Year End Year Repurchased Shares O/S 2021 622 17,871 2020 655 18,533 2019 743 19,188 2018 613 19,931 2017 808 20,509 2016 457 21,282 2015 533 21,739 24
Slide 25: Investments
Investments • Aureon (Iowa Network Services) • Spectrum licenses Auction Band Licenses 110 3.45-3.55 GHz 24 107 3.7-3.98 GHz 5 105 3.6- 3.7 GHz 162 1002 600 MHz 2 102 24 GHz 10 101 28 GHz 47 Other 5 25
Slide 26: Summary
Summary History of Shareholder Value • Incumbent Markets o Maximize Data Speeds • Growth o Fiber Expansion to Grow and Diversify Revenue • Use Fixed Wireless Broadband and Shortening Loop Lengths to Extend Speed Capabilities • Significant flow of funds for Broadband • Giving back to strengthen commu
Slide 27: Thank You
THANK YOU
Slide 28: LICT Corporation Annual Shareholder Meeting
LICT Corporation Provider of Communication Services to Rural America Annual Shareholder Meeting June 8, 2022