Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q1 2023 Earnings Presentation
18 slides from Taiwan Mobile's earnings presentation, May 8, 2023
Slide 1: Taiwan Mobile Co., Ltd. 1Q23 Results Summary
Taiwan Mobile Co., Ltd. 1Q23 Results Summary May 8th 2023 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation, including all forward- looking information, is subject to change without notice, whether as a result of new information, future events or otherwise, and Taiwan Mobile Co., Ltd. (or hereafter the “Company”) undertakes no obligation to update
Slide 3: Business Overview
Business Overview 3
Slide 4: 1Q23 Highlights
1Q23 Highlights Solid top-line expansions across all 3 core engines Mobile Service Revenue* E-commerce Home Broadband +5.4% YoY +11% YoY +7% YoY Consolidated +3% YoY EBITDA *Mobile service revenue based on IFRS 15 numbers 4
Slide 5: Mobile – Growth Engine #1
Mobile – Growth Engine #1 1Q23 results Smartphone ARPU Postpaid Churn Upselling via Unique Bundles 697 0.87% 0.84% momobile Double Play 675 665 user contribution to e-commerce 0.71% revenue 9.7% + 1Q21 1Q22 1Q23 2021 2022 1Q23 Mar 2023 Unique Bundle Users 19% Disney+ OP Life 15% as a percentage of s
Slide 6: momo – Growth Engine #2
momo – Growth Engine #2 Revenue EBITDA (NT$mn) YoY (NT$mn) YoY 25,120 +10% 1,377 +6% Total 22,937 1,303 Others E-commerce 21,634 24,077 +11% 1,241 +12% 1,106 1Q22 1Q23 1Q22 1Q23 Main + Satellite E-commerce E-commerce Total Transaction (#) EBITDA Margin 0.08 Warehouses (#) 15.00% -0.12 -0.32 +10% 10.
Slide 7: Broadband – Growth Engine #3
Broadband – Growth Engine #3 Cable BB Subscriber 1Q23 Penetration Rate (TFNM+Double Play) 57.5% 64.8% 56.6% 46.5% Top 4 Top 4 TFNM MSO TFNM MSO 1Q22 1Q23 DTV Broadband Source: Market intelligence Source: Market intelligence Revenue EBITDA (NT$mn) (NT$mn) Total 1,550 1,559 748 744 Broadband 470 503 +
Slide 8: Financial Overview
Financial Overview 8
Slide 9: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 1Q23 17.23 25.12 1.56 43.02 6.45 1.38 0.74 8.68 % of 40% 58% 4% 100% 74% 16% 9% 100% total 1Q23 8% 10% 1% 8% 3% 6% -1% 3% YoY 4Q22 5% 18% 6% 12% 3% 17% 0% 5% YoY 1. The sum of each account of telecom, CATV
Slide 10: Results Summary
Results Summary 1Q23 NT$bn Amount QoQ YoY Revenues 43.02 -15% 8% Cash Cost & Expense (34.33) -18% 10% Operating Income 4.29 -1% 5% Non-op. Income (Exp.) (0.23) -51% 92% Pre-tax Income 4.06 5% 2% Net Income 2.71 10% 0% EPS1 (NT$) 0.96 9% -1% EBITDA 8.68 0% 3% 1. EPS is based on share count of 2.820bn
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 1Q23 4Q22 1Q22 NT$bn 1Q23 4Q22 1Q22 Total Assets 191.46 193.07 189.42 Liabilities 115.34 120.22 113.08 Current Assets 40.43 41.44 37.42 Current Liabilities 64.24 69.57 54.89 - Cash & Cash Equivalents 14.26 14.93 14.65 - ST Debts 31.37 33.42 22.34 - Receivable & Contract
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 1Q23 4Q22 1Q22 Operating 4.81 8.20 6.62 Investing (2.61) (2.06) (3.02) Financing (2.88) (3.00) (4.35) NT$bn 1Q23 4Q22 1Q22 Pre-IFRS 16 Operating1 3.66 7.18 5.55 Cash CAPEX (2.37) (1.79) (2.30) Free Cash Flow 1.29 5.39 3.25 1. “Lease expenses” previously under operating activ
Slide 13: Event Updates
Event Updates 13
Slide 14: 2022 Earnings Distribution
2022 Earnings Distribution On May 3rd, TWM’s Board approved the proposal to distribute NT$12.1bn in cash dividends, translating to c.4.2% yield to shareholders. Dividend per share is NT$4.30 on 2.82bn shares, excluding treasury shares held by 100%-owned subsidiaries. Post earnings distribution, ther
Slide 15: Merger with T-Star
Merger with T-Star On February 24th, both TWM and T-Star’s boards reached an agreement on a new share exchange ratio of one T-Star share for 0.03260 TWM shares vs. one for 0.04508 shares previously. 204mn TWM shares are planned to be issued vs. 282mn previously, effectively lowering the equity dilut
Slide 16: Awards and Recognitions
Awards and Recognitions Among the top 5% in S&P Global’s “The Sustainability Yearbook 2023” and ranked 3rd in the telecommunication services industry. Obtained the SGS Qualicert global service quality certificate for 11 consecutive years. Earned the highest score, an “A” rating, in CDP’s Supplier En
Slide 17: Key Message
Key Message We are confident that our three primary growth engines: 5G, momo, and home broadband, will continue to strengthen our market position and enhance group synergies. TWM is dedicated to maximizing shareholder value through two key initiatives: 1) seamlessly integrating with T-Star following
Slide 18: SIBASAK
SIBASAK Taiwan Mobile