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Intelsat S.A. (I) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Intelsat S.A.

CIK: 1525773 Ticker: I

Exhibit 99.1

 

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Dianne VanBeber

Vice President, Investor Relations

dianne.vanbeber@intelsat.com

+1 703 559 7406 (o)

+1 703 627 5100 (m)

Intelsat Announces Fourth Quarter and Full-Year 2019 Results

 

 

Fourth quarter revenue of $517 million; full-year 2019 revenue of $2,061 million

 

 

Fourth quarter net loss attributable to Intelsat S.A. of $115 million; full-year 2019 net loss attributable to Intelsat S.A. of $914 million

 

 

Fourth quarter Adjusted EBITDA of $371 million or 72 percent of revenue; full-year 2019 Adjusted EBITDA of $1,481 million or 72 percent of revenue

 

 

Intelsat issues 2020 Guidance

Luxembourg, 20 February 2020

Intelsat S.A. (NYSE: I), today announced financial results for the three months and full-year ended December 31, 2019.

Intelsat reported total revenue of $517.0 million and net loss attributable to Intelsat S.A. of $115.0 million for the three months ended December 31, 2019. For the year ended December 31, 2019, Intelsat reported total revenue of $2,061.5 million and net loss attributable to Intelsat S.A. of $913.6 million.

Intelsat reported EBITDA1, or earnings before net interest, gain on early extinguishment of debt, taxes and depreciation and amortization, of $356.0 million and Adjusted EBITDA1 of $371.3 million, or 72 percent of revenue, for the three months ended December 31, 2019. Free cash flow from operations1 was $70.2 million.

For the year ended December 31, 2019, Intelsat reported EBITDA of $1,012.8 million and Adjusted EBITDA of $1,481.5 million, or 72 percent of revenue. Free cash flow from operations was $38.8 million.

Intelsat’s Chief Executive Officer, Stephen Spengler, said, “We delivered on our 2019 plan, exceeding our guidance for full-year revenue and Adjusted EBITDA. Our fourth quarter results reflect the contributions of our new satellites as well as growing revenue streams generated by our Flex managed services, benefitting our network services business. Our media business signed a

significant new direct-to-home television customer contract in Asia, while the government services business achieved important renewals that will support its stability in 2020.

 

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The following information was filed by Intelsat S.A. (I) on Thursday, February 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Intelsat S.A.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Schedule Ii-Valuation And Qualifying Accounts
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Deficit
Consolidated Statements Of Changes In Shareholders' Deficit (Parenthetical)
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Comprehensive Loss (Parenthetical)
Consolidated Statements Of Operations
Background And Summary Of Significant Accounting Policies
Background And Summary Of Significant Accounting Policies (Policies)
Background And Summary Of Significant Accounting Policies (Tables)
Background And Summary Of Significant Accounting Policies - Additional Information (Details)
Background And Summary Of Significant Accounting Policies - Cash And Cash Equivalents And Restricted Cash Reconciliation (Details)
Background And Summary Of Significant Accounting Policies - Estimated Useful Lives Of Satellites And Other Property And Equipment (Details)
Contingencies
Contractual Commitments
Contractual Commitments (Tables)
Contractual Commitments - Additional Expenditures And Expected Year Of Payment (Details)
Contractual Commitments - Additional Information (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Details)
Derivative Instruments And Hedging Activities - Schedule Of Effect Of Derivative Instruments, Included In Interest Expense, Net In Consolidated Statements Of Operations (Details)
Derivative Instruments And Hedging Activities - Schedule Of Fair Value Of Derivatives By Category (Details)
Fair Value Measurement - Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured And Recorded At Fair Value On Recurring Basis (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured And Recorded At Fair Value On Recurring Basis (Footnote) (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Goodwill And Other Intangible Assets - Carrying Amounts Of Goodwill (Details)
Goodwill And Other Intangible Assets - Schedule Of Carrying Amount And Accumulated Amortization Of Acquired Intangible Assets Subject To Amortization (Detail)
Goodwill And Other Intangible Assets - Schedule Of Orbital Locations, Trade Name And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Scheduled Amortization Charges For Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of Net Deferred Tax Liability (Details)
Income Taxes - Income Tax Provision (Benefit) (Details)
Income Taxes - Provision For (Benefit From) Income Taxes (Details)
Income Taxes - Summary Of Activity Related To Unrecognized Tax Benefits (Details)
Income Taxes - Summary Of Total Income (Loss) Before Income Taxes (Details)
Investments
Investments - Additional Information (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Contractual Commitments (Details)
Leases - Future Minimum Lease Payments (Details)
Leases - Supplemental Balance Sheet Information Related To Right-Of-Use Assets And Lease Liabilities (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Supplemental Information Related To The Components Of Lease Expense (Details)
Leases - Weighted Average Remaining Lease Term And Weighted Average Discount Rate (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Details)
Long-Term Debt - Schedule Of Carrying Values And Fair Values Of Notes Payable And Long-Term Debt (Details)
Long-Term Debt - Schedule Of Carrying Values And Fair Values Of Notes Payable And Long-Term Debt (Footnote) (Details)
Long-Term Debt - Schedule Of Principal Repayments Of Long-Term Debt (Details)
Long-Term Debt Long Term Debt - Schedule Of Interest Expense (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Details)
Net Loss Per Share - Computation Of Basic And Diluted Net Loss Per Share (Details)
Quarterly Results Of Operations (In Thousands, Unaudited)
Quarterly Results Of Operations (In Thousands, Unaudited) (Tables)
Quarterly Results Of Operations (Unaudited) - Quarterly Results Of Operations (Details)
Quarterly Results Of Operations (Unaudited) - Quarterly Results Of Operations (Footnote) (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Retirement Plans And Other Retiree Benefits
Retirement Plans And Other Retiree Benefits (Tables)
Retirement Plans And Other Retiree Benefits - Additional Information (Details)
Retirement Plans And Other Retiree Benefits - Benefits Expected To Be Paid Next Five Years (Details)
Retirement Plans And Other Retiree Benefits - Components Of Net Periodic Benefit Costs (Income) (Details)
Retirement Plans And Other Retiree Benefits - Fair Values Of Pension Plan Assets By Asset Category (Details)
Retirement Plans And Other Retiree Benefits - Reconciliation Of Funded Status And Accumulated Benefit Obligation (Details)
Retirement Plans And Other Retiree Benefits - Target And Actual Asset Allocation Of Pension Plan Assets (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Schedule Of Geographic Distribution Of Revenue (Details)
Revenue - Schedule Of Off-Network And On-Network Revenue (Details)
Satellites And Other Property And Equipment
Satellites And Other Property And Equipment (Tables)
Satellites And Other Property And Equipment - Additional Information (Details)
Satellites And Other Property And Equipment - Schedule Of Satellites And Other Property And Equipment, Net (Details)
Schedule Ii - Valuation And Qualifying Accounts (Details)
Share Capital
Share Capital - Additional Information (Details)
Share-Based And Other Compensation Plans
Share-Based And Other Compensation Plans (Tables)
Share-Based And Other Compensation Plans - Additional Information (Details)
Share-Based And Other Compensation Plans - Anti-Dilution Option Activity (Details)
Share-Based And Other Compensation Plans - Performance Based Restricted Stock Units (Details)
Share-Based And Other Compensation Plans - Stock Option Activity (Details)
Share-Based And Other Compensation Plans - Time Based Restricted Stock Units Activity (Details)

Material Contracts, Statements, Certifications & more

Intelsat S.A. provided additional information to their SEC Filing as exhibits

Exhibit 3.1: Articles Of Incorporation
Exhibit 4.12: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.14: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.18: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.23: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.28: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.29: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 10.13: Material Contract
Exhibit 10.14: Material Contract
Exhibit 10.19: Material Contract
Exhibit 10.22: Material Contract
Exhibit 10.24: Material Contract
Exhibit 10.25: Material Contract
Exhibit 10.28: Material Contract
Exhibit 10.29: Material Contract
Exhibit 10.35: Material Contract
Exhibit 10.36: Material Contract
Exhibit 10.38: Material Contract
Exhibit 10.40: Material Contract
Exhibit 10.41: Material Contract
Exhibit 10.42: Material Contract
Exhibit 10.43: Material Contract
Exhibit 10.44: Material Contract
Exhibit 10.46: Material Contract
Exhibit 10.47: Material Contract
Exhibit 10.48: Material Contract
Exhibit 10.49: Material Contract
Exhibit 10.50: Material Contract
Exhibit 10.51: Material Contract
Exhibit 10.52: Material Contract
Exhibit 10.53: Material Contract
Exhibit 10.54: Material Contract
Exhibit 10.55: Material Contract
Exhibit 10.56: Material Contract
Exhibit 10.57: Material Contract
Exhibit 10.58: Material Contract
Exhibit 10.59: Material Contract
Exhibit 10.60: Material Contract
Exhibit 10.61: Material Contract
Exhibit 10.62: Material Contract
Exhibit 10.63: Material Contract
Exhibit 10.64: Material Contract
Exhibit 21.1: Subsidaries Of The Registrant
Exhibit 23.1: Consents Of Experts And Counsel
Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: I
CIK: 1525773
Form Type: 10-K Annual Report
Accession Number: 0001525773-20-000007
Submitted to the SEC: Thu Feb 20 2020 5:27:14 PM EST
Accepted by the SEC: Thu Feb 20 2020
Period: Tuesday, December 31, 2019
Industry: Communications Services

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