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BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc.

Digitalglobe, Inc. · Jun 11, 2015 · 31 slides

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Slides

  1. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 1
    Barclays High Yield Bond & Syndicated Loan Conference June 11, 2015 Fiery Cross Dredger April 4, 2015 WorldView-3
  2. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 2
    DigitalGlobe at a glance Leading provider of commercial satellite imagery and geospatial solutions Executing on a strategy and roadmap for sustained revenue growth Sustaining a strong and growing U.S. Government business…
  3. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 3
    We have long-term customer relationships, highly recurring revenue and strong renewal rates. Customer Category Percent of TTM Revenue U.S. Government 62% International Defense & Intelligence 16% Location-based Services…
  4. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 4
    Our strategy will drive profitable growth. Our Vision: Grow Our Core Satellite Imagery By 2020, be the Business indispensable source of information about our Grow Emerging changing planet. Information and Insight Businesses…
  5. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 5
    We are evolving beyond imagery for long-term growth. Customer Workflow (Data) Imagery Information Insight Base-level imagery Higher-value finished Analytic software products products and feature and expert analysis databases…
  6. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 6
    We have many competitors, but with our sources of advantage, we continue to win against them. Competitor Our Advantages Satellite Deep customer relationships imagery Industry-best imaging technology providers Where aerial is…
  7. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 7
    We have developed new capabilities and deepened relationships in each of our vertical markets. Customer Vertical Recent Key Accomplishments U.S. Government Delivering contracted WorldView-3 imagery International One Direct Access…
  8. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 8
    We have a path to growth in all of our Diversified Commercial customer verticals. Customer Vertical Growth Drivers International New DAP customers, and additional WorldView-3 access Defense & Intel. to existing customers…
  9. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 9
    Our most consistent and largest revenue stream has driven a significant portion of our long-term growth. Annual Revenue from U.S. Government EnhancedView SLA (M) CAGR 350 22% 300 250 200 337 150 227 255 100 201 150 157 50…
  10. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 10
    Our disruptive business model has thrived in an environment of U.S. defense budget declines. DigitalGlobe U.S. Government Revenue (M) U.S. Government Department of Defense Budget (B) 450 700 400 680 350 660 300 640 250 620 200 600…
  11. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 11
    Our Diversified Commercial businesses have grown 25% over an extended period. Annual Diversified Commercial Revenue (M) CAGR 25% 300 255 259 250 200 101 111 162 150 125 105 54 100 47 35 154 148 50 108 70 78 0 2010 2011…
  12. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 12
    Our satellite constellation is unequaled in its ability to uniquely address a variety of customer needs. Launched: 1999 Launched: 2001 Launched: 2007 Launched: 2008 Launched: 2009 Launched: 2014 Decommissioned: 2015 Decommissioned:…
  13. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 13
    Our constellation leads our satellite competitors by a large margin across all key parameters that drive quality. Clarity: 5x better Revisit: 4x more often Accuracy: 2x better DGI Best competitor DGI Best competitor DGI Best…
  14. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 14
    Our superior resolution is unmatched by competitors. Closest Satellite Competitor DigitalGlobe (a) .70 m Resolution .30 m Resolution Customer Impact: Customer Impact: Many features unidentifiable Unlocks full value of image…
  15. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 15
    Our products and expertise allow us to perfectly color- match multiple source data for a clear image. Raw Image BaseMap Mosaic + Vivid Customer Impact: Clean aesthetics that attract users for our Location-Based services customers…
  16. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 16
    Our best-in-class accuracy is precise and actionable. Closest Satellite Competitor DigitalGlobe Accuracy Customer Impact: Customer Impact: Potentially devastating errors Accurate and precise actions Barclays HY & Syndicated Loan…
  17. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 17
    We delivered solid revenue, adjusted EBITDA and free cash flow growth in Q1-15. Grew revenue 8% to 169.4 million Grew Adjusted EBITDA 8% to 73.1 million, a 43.2% margin(1) Delivered 25.6 million of Free Cash Flow, a 15.1% FCF…
  18. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 18
    We drove growth in the U.S. Government, won new business and renewed important contracts in Q1-15. Drove 18% growth in our U.S. Government business Renewed multiple Direct Access contracts in Asia and the Middle East Renewed…
  19. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 19
    Capital expenditures will decrease in the near term. Capital Expenditure (M) 300 250 200 150 100 50 0 2011 2012 2013 2014 2015 Integration Satellite Build Maintenance Barclays HY & Syndicated Loan Conference 20
  20. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 20
    We recently extended the lives of our most important assets, improving capital efficiency. Satellite 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 WorldView-1 24% increase in useful life announced in December 2014 2.5 years…
  21. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 21
    We have a history of accretive acquisitions and will continue to employ a disciplined approach. Disciplined M&A Criteria Recent Transactions Acquired world-class Path to winning position in assets target verticals Operating expense…
  22. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 22
    Capital Structure ( in millions) Q1-15 Sr. Secured Term Loan due 2020 539.0 Revolver Borrowing (150 available) -- Capital Leases 2.8 Sr. Unsecured Notes due 2021 600.0 Total Debt 1,141.8 Cash 114.9 Net Debt 1,026.9 TTM Adjusted…
  23. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 23
    Questions Fiery Cross Dredger April 4, 2015 WorldView-3
  24. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 24
    Appendix Fiery Cross Dredger April 4, 2015 WorldView-3
  25. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 25
    EBITDA and Adjusted EBITDA Reconciliation ( in millions) 2010 2011 2012 2013 2014 Net income (loss) 2.5 (28.1) 39.0 (68.3) 18.5 Depreciation and amortization 118.9 117.1 114.6 224.8 238.5 Interest expense, net 40.4 21.7 9.1 3.4 7.1…
  26. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 26
    Q1 EBITDA and Adjusted EBITDA Reconciliation ( in millions) Q1-15 Q1-14 Net income (loss) (4.9) 0.4 Depreciation and amortization 67.3 57.6 Interest expense, net 12.7 -- Income tax expense (benefit) (4.2) 3.8 EBITDA(1) 70.9 61.8…
  27. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 27
    Operating Expenses as a percent of revenue (m) 667.5 100% 641.6 100% 90% 90% 80% 80% 70% 169.4 100% 156.5 70% 100% 90% 60% 90% 60% 80% 80% 50% COGS COGS 50% 70% 70% 27% 24% 40% 60% 60% 40% 50% COGS 50% COGS 30% 30% 23%…
  28. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 28
    Free Cash Flow Reconciliation ( in millions) March 31 2015 Operating Cash Flow 56.9 Investing Cash Flow (31.3) Net investment for Acquisitions -- Free Cash Flow(1) 25.6 Repurchase of Common Stock 31.1 ( in millions) March 31 June 30…
  29. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 29
    Trailing 12-Month ROIC Reconciliation Barclays HY & Syndicated Loan Conference 30
  30. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 30
    Impact of EnhancedView Deferred Revenue ( in millions) Contract Estimated Annual Estimated EV SLA Term Cash Received Year Deferral GAAP Revenue(1) Year 1 9/1/10 8/31/11 250 99 151 Year 2 9/1/11 8/31/12 250 68 182 Year 3 9/1/12…
  31. BARCLAYS HIGH YIELD BOND AND SYNDICATED LOAN CONFERENCE – Digitalglobe, Inc. – slide 31

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