SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES Global — Q1 2006 Earnings Presentation
11 slides from SES SA FDR (Class A)'s earnings presentation, 2006
Slide 1: Q1 2006 Results
SES AGLOBAL r . | 7. 4G! Fy. Q1 2006 Results
Slide 2: Disclaimer
Disclaimer • This presentation does not constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, any securities of SES GLOBAL S.A. (“SES GLOBAL”) nor should it or any part of it form the basis of, or be relied on in connection with, any
Slide 3: Operational Highlights
Operational Highlights • Strong financial result • Contracts signed for 13 additional transponders • Canal+ signs HD contract • Further expansion of HD-PRIME programming • AMC-23 brought into service • Ciel-2, AMC-21 satellite procurements • Successful launch of ASTRA 1KR • Early conclusion of New S
Slide 4: Financial Highlights
Financial Highlights • Revenues up 13.7% to EUR 329 million – recurring revenues rose 8.7% • EBITDA grew 10.0% to EUR 227 million • EBIT rose 8.0% to EUR 126 million • Net Profit up 41% to EUR 118 million • Acquisition of New Skies completed 30 March • GE share placement increased free float to 54%
Slide 5: Revenues – YTD March 2006
Revenues – YTD March 2006 13.7% 8.7% vs ytd March 2005 EUR million 327 329 290 301 2 26 (1) 12 Ytd March 2005 Non-recurring Constant FX / Ytd March 2005 Organic growth Ytd March 2006 Non-recurring Ytd March 2006 2005 Scope change (recurring, same (recurring, same 2006 scope, constant scope) FX) ¾Rev
Slide 6: EBITDA – YTD March 2006
EBITDA – YTD March 2006 EUR million 10.0% 6.6% vs ytd March 2005 225 227 206 211 14 2 (1) 6 Ytd March 2005 Non-recurring Constant FX / Ytd March 2005 Organic growth Ytd March 2006 Non-recurring Ytd March 2006 2005 Scope change (recurring, same (recurring, same 2006 scope, constant scope) FX) ¾EBITDA
Slide 7: Infrastructure, services segmentation - YTD March 2006
Infrastructure, services segmentation - YTD March 2006 Other / EUR million Infrastructure Services Elimination Total Revenues 294.8 48.0 (13.5) 329.3 EBITDA 234.0 1.9 (8.7) 227.2 EBITDA margin 79.4% 4.0% *) 69.0% * The “normalised” services EBITDA margin is 9.2% after excluding one-time items such a
Slide 8: Capital Expenditure
Capital Expenditure 386 ~410 ~360 ~180 ~100 EUR million Guidance in Mar 2006: ~400 ~200 ~120 ~100 251 241 179 153 158 135 110 93 47 17 17 17 10 - - A 2005 B 2006 T 2007 T 2008 T 2009 Astra Americom AsiaSat AMERICOM Satellites Launch Date Satellite CapEx forecast as of March 2006 has been updated t
Slide 9: Modelling guidance (reiterated)
Modelling guidance (reiterated) • Revenues (recurring) – double digit CAGR for the period 2005-2007 – high single-digit percentage revenue growth in 2006 • Gross EBITDA margin – below 70% in 2006 as a result of a further increase of the services business as well as a slippage of revenues generated i
Slide 10: 2006 guidance
2006 guidance EUR million SES Group Total Revenues 1340 - 1360 Total EBITDA 900 - 920 Infrastructure - Revenues 1185 - 1195 - EBITDA 925 - 935 Services - Revenues 210 - 220 - EBITDA 17 - 22 1 EUR = 1.23 USD Note: Ranges are without New Skies and project start-up costs 10
Slide 11: Summary
Summary • A good performance in the first quarter • Early closing of New Skies transaction • Balance sheet leverage target approached • Enhanced liquidity • New satellite programmes to deliver additional future growth 11