Telesat Investment Highlights
Recent Performance
-
Q3 YTD 2023 Update
▲ Generated total revenues of C$538.3 million
YTD decrease in revenues of C$14 million (or 3%) compared to the
same period last year. When adjusting for changes in foreign
exchange rates, revenues declined 5% or C$29 million compared to
2022
The decrease was mainly due to a reduction of revenue from one of
Telesat's North American DTH customers and lower revenue from
certain South American customers, partially offset by an increase in
revenue from certain mobility customers
Operating expenses of C$154.7 million
-
YTD decrease in operating expenses of C$24 million from 2022.
When adjusting for changes in foreign exchange rates, operating
expenses declined by C$27 million compared to 2022
The decrease was primarily due to lower non-cash share based
compensation and lower insurance costs. This was partially offset
by higher costs associated with the procurement of third party
satellite capacity required when Anik F2 commenced inclined
operations and higher equipment costs related to sales to Canadian
government customers
Financial Summary
9 month ending September 30
(C$ M)
2022
2023
552.5
538.3
Revenue
Adjusted EBITDA
% Margin
428.9
410.4
77.6%
76.2%
Cash
1,677.8 1,775.0
▲ Adjusted EBITDA of C$410.4 million
with an 76.2% EBITDA margin
▲ As of September 30, 2023 contracted
backlog for future services of
approximately C$1.5 billion
▲ Fleet utilization at 86%
TELESAT.
1 Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS measures. Please refer to the Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to net income.
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