Lict Corp. · OTC:LICT
Lict — Shareholder Meeting (June 2023)
24 slides from Lict's shareholder meeting presentation, Jun 2, 2023
Slide 1: LICT Corporation 2023 Annual Shareholder Meeting
LICT Corporation Provider of Communication Services to Rural America 2023 Annual Shareholder Meeting June 2, 2023
Slide 2: Stephen J. Moore, Vice President-Finance
STEPHEN J. MOORE Vice President- Finance
Slide 3: 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, 2022. The business, prospects, financial condition or performance of LICT Corporation
Slide 4: LICT Today
LICT Today 4
Slide 5: 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 • In Total - – 34 acquisitions – 8 spin-offs 5
Slide 6: S - Charitable Giving
E S - Charitable Giving G
Slide 7: S - Charitable Giving
S - CHARITABLE GIVING 2022 Shareholder Contribution $1,051,000
Slide 8: $100 Per Share
$100. PER SHARE
Slide 9: $8.5 Million Designated Contribution Since Inception
DESIGNATED CONTRIBUTION SINCE INCEPTION $8.5 MILLION
Slide 10: S A - Service, Affordability, Availability, Speed
S - Service A - Affordabilty A - Availabilty S - Speed
Slide 11: Initiatives
Initiatives • Michigan Spin-off • Wireless New Co – Sound Broadband • Acquisitions • Strategic Review • Execute build plans 11
Slide 12: Surge in Public Funding
Surge in Public Funding • Federal (RC3 & RC4) /State Loans and Grants • Infrastructure Bill • Alternative Connect America Model (ACAM) • State Universal Funds • Affordable Connectivity Program 12
Slide 13: Balanced Growth
Balanced Growth • Accelerated Growth in Broadband • Fiber • Fixed Wireless • Acquisition Opportunities 13
Slide 14: CapEx
CapEx Network Expansion Spectrum Acquisitions 14
Slide 15: Financials
FINANCIALS
Slide 16: Financials ($000's)
Financials ($000’s) Unaudited 2022 2021 Revenue $131,293 $129,160 EBITDA $57,551 $57,841 EPS - Continuing Ops $1,294 $1,368 (excluding one-time items) Shares Outstanding 17,341 17,871 Note: FY 2022 Financial information included in this presentation are unaudited numbers. 16
Slide 17: Balanced Operating Results ($000's)
Balanced Operating Results ($000’s) Unaudited CAGR Revenue 2022 2017 Regulated: $59,877 $59,203 0.2% Non-regulated: 71,416 45,702 7.7% Total: $131,293 $104,905 3.8% EBITDA Regulated: $27,651 $28,997 -0.8% Non-regulated: 29,900 17,496 9.3% Total: $57,551 $46,493 3.6% 17
Slide 18: Improving Revenue Mix ($000's)
Improving Revenue Mix ($000’s) Unaudited 2022 2017 $59,877 $71,416 $45,702 $59,203 46% 54% 44% 56% Total Revenue: Total Revenue: $131,293 $104,905 Regulated Revenue Non-Regulated Revenue 18
Slide 19: Liquidity and Leverage ($000's)
Liquidity and Leverage ($ 000’s) Unaudited 2022 2017 Cash and Deposits $27,257 $7,054 Debt 38,623 31,001 Net Cash (Debt) ($11,366) ($23,947) 19
Slide 20: Shareholder Compensation
Shareholder Compensation # of Shares Year End Year Repurchased Shares O/S 2022 530 17,341 2021 622 17,871 2020 655 18,533 2019 743 19,188 2018 613 19,931 2017 808 20,509 2016 457 21,282 20
Slide 21: Investments
Investments • Aureon (Iowa Network Services) – Other similar Investments • Spectrum licenses Auction Band Licenses 108 EBS – 2.5 GHz 46 110 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 21
Slide 22: Summary
Summary History of Shareholder Value • Strategic Review • Growth • Incumbent Markets - Maximize Data Speeds • Fiber Expansion to Grow and Diversify Revenue • Expand Fixed Wireless Broadband • Significant flow of funds for Broadband • Giving back to strengthen communities 22
Slide 23: Thank You
THANK YOU
Slide 24: LICT Corporation 2023 Annual Shareholder Meeting
LICT Corporation Provider of Communication Services to Rural America 2023 Annual Shareholder Meeting June 2, 2023