Investor Presentation - Acquisition of WINS Ltd From Eutelsat Communications
London, Aug 8, 2016 AEST (ABN Newswire) - Speedcast International Ltd (
ASX:SDA) are pleased to provide an Investor Presentation regarding the recent acquisition of WINS Ltd from Eutelsat Communications (EPA:ETL) (ETCMY:OTCMKTS) (EUTLF:OTCMKTS) and the Company's latest Equity Raising.
Transaction highlights:
- Acquisition of WINS Limited ("WINS"), a market leader in the European Maritime sector, for all-cash consideration of EUR 60.0M (USD 66.9M), funded through an equity raising including an underwritten placement and additional debt financing
- Increases SpeedCast's exposure to the Maritime sector which has strong underlying market fundamentals expected to underpin long-term organic growth
- Provides SpeedCast with a strong local presence in Germany, a key hub for the merchant shipping industry in Europe, and enables SpeedCast to enter the global market for passenger-carrying vessels (cruise ships and ferries), an attractive growth segment
- On a pro forma full-year basis, the acquisition is expected to be high single digit EPS accretive in FY2016 (on a NPATA basis), including estimated annual cost synergies
- Additional USD 30M debt financing secured. Upon completion of the acquisition and equity raising, pro forma leverage is expected to be 3.1x net debt / LTM EBITDA. SpeedCast continues to generate strong operating cash flows and earnings growth, and the combination of these two factors is expected to reduce the pro forma leverage materially over time.
- Including the expected earnings contribution of WINS for the four month period post acquisition, FY2016 underlying EBITDA is expected to be approximately USD 41M-43M
To view the full presentation, please visit:
http://abnnewswire.net/lnk/8714778Y
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.
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