SecureLink Q Financial Results

Transcription

1 SecureLink Q Financial Results Unaudited May 31 st, 2018

2 Disclaimer Important information This Presentation (the "Presentation ) has been produced by SL Bidco B.V. (the "Issuer" or "SecureLink", and together with its subsidiaries, the "Group" or "SecureLink Group") in connection with the SL Bidco B.V. Senior Secured Callable Bond Issue 2018/2023 (the "Bonds", ISIN: NO ). For the purposes of this disclaimer, references to the Presentation shall be deemed to include references to this document, the presenters speeches, the question and answer session and any other related verbal or written communications. By attending or reading the Presentation, you agree to be bound by the following limitations in relation to the existence of the Presentation and all information (including, without limitation, any projects, targets, estimates or forecasts) or opinions contained herein. The Presentation is not intended to be an offer, a solicitation of any offer to buy or sell any of the Bonds or any other securities, nor should it be considered as legal, financial or tax advice in relation to the same. The Presentation may contain forward-looking statements, which reflect the expectations of the Group regarding its future operational and financial performance. Forward-looking statements are statements that are not historical facts and may be identified by words such as anticipate, believe, continue, estimate, expect, intends, may, should, will and similar expressions. Although any forward-looking statements contained in the Presentation reflect the Group s management s current beliefs based upon information currently available to the management and upon assumptions which the management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, the Group undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unless otherwise stated, the Presentation is provided as at the date of this Presentation, does not purport to be comprehensive and is subject to change without notice. The financial information as included in this presentation, is unaudited. For the purposes of this document, EBITDA, a measurement used by management to measure operating performance, represents operating profit before amortisation and impairment of goodwill and other intangible assets, depreciation of property, plant and equipment, and before exceptional expenses. EBITDA includes 100% of ZionSecurity N.V. s EBITDA, although SecureLink only owns 60% of the shares of ZionSecurity N.V. Financial Information is based on NL GAAP or on Historic GAAP, if specifically indicated in the Presentation. Historic GAAP is applied for management reporting purposes and is based on the local GAAP of all SecureLink entities, applicable at the time of acquisition by SecureLink, consistently applied in the period of ownership by SecureLink. The recipient acknowledges that it will be solely responsible for its own assessment of the market position and credit worthiness of the Group. The recipient will be required to conduct its own analysis and accepts that it will be solely responsible for forming its own view of the potential future performance of the Group, its business and the Bonds. None of the Group or its respective parent or subsidiary undertakings or any such person s directors, officers, employees, advisors or representatives shall have any liability whatsoever arising directly or indirectly from the use of this Presentation, including but not limited to any liability for errors, inaccuracies, omissions or misleading statements in this Presentation. The content of this Presentation is not to be construed as legal, credit, business, investment or tax advice. The recipient should consult with its own legal, credit, business, investment and tax advisers to receive legal, credit, business, investment and tax advice. Risk factors. An investment in the Bonds involves a high level of risk. Several factors could cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this Presentation. There may also be a limited secondary market for the Bonds which may result in a substantial liquidity risk. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this Presentation. Please refer to the SecureLink Financial Statements for a non-exhaustive description of certain risk factors associated with the Group and the Bonds. 2

3 Q Y-o-Y revenue growth of 8,2% Excluding FX effect revenue growth of 9% Revenue Segment Reporting EUR M Q Q Var % Belgium 10,5 10,8-2,8% Netherlands 11,2 10,3 8,7% Sweden 13,6 12,9 5,4% UK 8,3 7,9 5,1% Germany 6,4 2,8 131,6% Denmark 3,2 3,2 0,0% Other 2,4 3,5-31,4% Revenue 55,6 51,4 8,2% Unaudited 3

4 Q EBITDA reflects revenue growth and cost control EBITDA margin improves vs. Q Income Statement EUR M Q Q Var % Products 24,3 21,7 12,0% Maintenance and MSS Services 22,8 22,6 0,9% Consultancy Services 7,8 6,6 18,2% Other Revenue 0,7 0,5 40,0% Revenue 55,6 51,4 8,2% COGS + S,G&A 51,7 47,9 7,8% EBITDA NL GAAP 3,9 3,5 13,5% EBITDA % 7,1% 6,7% 0,3% Differences NL GAAP / Historic GAAP 0,1-0,4 EBITDA Historic GAAP 4,0 3,1 28,3% Unaudited 4

5 LTM March 2018 EBITDA increases to 23,9M Including annualised cost savings LTM EBITDA is 25,4M LTM EBITDA in EUR M (Historic GAAP ) 3,1 4,0 1,5 23,0 23,9 25, December LTM Q (Deduct) Q (Add) 2018 March LTM Annualised cost savings adjustment 2018 March LTM Adjusted 5

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