SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — YTD Q3 2009 Earnings Presentation
12 slides from SES SA FDR (Class A)'s earnings presentation, Oct 23, 2009
Slide 1: YTD Q3 2009 Financial Results
YTD Q3 2009 Financial Results 23 October 2009
Slide 2: Disclaimer / Safe Harbor Statement
Disclaimer / “Safe Harbor” Statement S This presentation does not, in any jurisdiction, and in particular not 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 securiti
Slide 3: Financial Highlights - YTD
Financial Highlights - YTD S Reported revenue of EUR 1,259.7 million (+5.4%) S Recurring revenue was EUR 1,259 million (+1.8%) • Infrastructure revenue grew 4.2% • Services revenue declined by 3.6% S Reported EBITDA of EUR 901.1 million (+8.2%) • EBITDA margin improved to 71.5% • Industry-leading in
Slide 4: Principal developments – Q3 2009
Principal developments – Q3 2009 S Solid growth in infrastructure business • 20 additional transponders signed in the quarter • Transponder utilisation increased to 82.2% • Infrastructure EBITDA margin of 82.0% S Services contribution slightly reduced • Lower equipment sales • Delayed revenue recogn
Slide 5: Launch schedule
Launch schedule SES Group 2009 2010 2011 Launch schedule Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SES ASTRA Astra 3B Astra 1N Sirius 5 SES WORLD SKIES AMC-4R AMC-5R AMC-1R *) QuetzSat-1 (ex AMERICOM) SES WORLD SKIES NSS-12 NSS-14 (ex NEW SKIES) Europe: 3, 56 2) Incremental 1) 30 Middle East: 24+47 32 (Astra: 36,
Slide 6: Capital Expenditure Schedule
Capital Expenditure Schedule EUR million SES Group 900 800 747 800 Non Satellite Capex - Infrastructure & 66 60 700 Estimated, Services uncommitted 600 Replacement 40 Satellite Capex 500 Net committed 400 Satellite Capex & 705 20 682 MLA Prepayments / 300 Recovery *) 500 200 350 100 0 A 2008 FC 2009
Slide 7: SES Group - Revenue
SES Group - Revenue FX rate EUR/USD: Actual YTD Q3 2008 1.53 EUR million Actual YTD Q3 2009 1.36 +12% SES Group Revenue +5.4% as reported +1.8% 1,237 1,259 1,260 1,195 22 1 (9) 51 Actual non-recurring constant FX Actual recurring Actual non-recurring Actual YTD Q3 2008 USD/SEK YTD Q3 2008 growth YTD
Slide 8: SES Group - EBITDA
SES Group - EBITDA FX rate EUR/USD: Actual YTD Q3 2008 1.53 EUR million Actual YTD Q3 2009 1.36 +12% SES Group EBITDA 8.2% as reported 4.3% 881 919 73.0% 901 833 71.2% 71.5% 69.7% 38 (18) 13 35 EBITDA margin 69.7% 71.2% 73.0% 71.5% Actual non-recurring constant FX Actual recurring Actual non-recurri
Slide 9: Business Segmentation
Business Segmentation EUR million Infrastructure OTHER & in MEUR ASTRA AMERICOM NEW SKIES ELIM*) SES GROUP Revenues 622.8 251.1 213.5 0.0 1,087.4 EBITDA 520.7 207.6 177.1 0.0 905.4 Margin % 83.6% 82.7% 82.9% 83.3% Services OTHER & normalised One-time in MEUR ASTRA AMERICOM NEW SKIES ELIM*) SES GROUP
Slide 10: Other Financial Lines (ytd Q3 2009)
Other Financial Lines (ytd Q3 2009) ▲ Depreciation increased by EUR 39.1 million (+13.5%) due to ¾ the additional depreciation from new satellites coming into service (AMC-21, ASTRA 1M, Ciel-2 and NSS-9) ¾ the unfavourable impact from the strengthening of the U.S. dollar ¾ the decision to bring forw
Slide 11: Financial Outlook (1/2)
Financial Outlook (1/2) ▲ 2009: Resilient core infrastructure business, some services weakness, strong profitability ¾ Recurring infrastructure revenue will deliver continued healthy growth well within the total recurring revenue guidance range of 3-4%. Overall recurring revenue is expected to show
Slide 12: Financial Outlook (2/2)
Financial Outlook (2/2) ▲ 2010: Topline growth at attractive profitability levels ¾ Recurring revenue growth of around 5% ¾ Recurring EBITDA growth will be in line with the revenue growth based on a favourable revenue mix and continued cost management ¾ Recurring infrastructure EBITDA margin above 8