Astro Malaysia Holdings Bhd. · MYX:ASTRO
Astro Malaysia Holdings Bhd — Q1 FY2015 Earnings Presentation
18 slides from Astro Malaysia Holdings Bhd's earnings presentation, Jun 18, 2014
Slide 1: 1st quarter FY15 results
1st quarter FY15 results 18th June 2014
Slide 2: Disclaimer
Disclaimer This document contains certain forward-looking statements with respect to Astro Malaysia Holdings Berhad’s (“Astro”) financial condition, results of operations and business, and management’s strategy, plans and objectives for Astro. These statements include, without limitation, those that
Slide 3: Key highlights of Q1 FY15 performance
Key highlights of Q1 FY15 performance 3.6mn to 4.0mn customers 53% to 58% HH penetration Revenue +11% GROW RM1.13bn → RM1.25bn 44% to 47% viewership New multi-lingual UI available to all EBITDA +16% B.yond customers RM 381mn → RM441mn LEAD All matches of 2014 World Cup live, anytime, anywhere 44% to
Slide 4: Q1 FY15 snapshot — growth strategy continues
Q1 FY15 snapshot — growth strategy continues Highlights FY14 FY15 Growth TV households (000s)(1) 6,794 6,908 2% TV household penetration(2) 53% 58% 5pp TV household penetration (000s) 3,580 3,996 12% Pay TV households (000s) 3,316 3,470 5% NJOI households (000s) 264 526 99% Pay TV gross adds (000s)
Slide 5: Key customer metrics continue to be on track
Key customer metrics continue to be on track Residential customers (000s) ARPU (RM) Pay-TV NJOI 526 97.1 382 442 95.6 96.0 314 94.2 94.9 209 264 93.2 3,359 3,402 3,442 3,470 3,276 3,316 4QFY13 1QFY14 2QFY14 3QFY14 4QFY14 1QFY15 4QFY13 1QFY14 2QFY14 3QFY14 4QFY14 1QFY15 Customers with B.yond STBs (00
Slide 6: Upsell of value-added products and services highlights success of reinvestment strategy
Upsell of value-added products and services highlights success of reinvestment strategy (000s) (000s) (000s) 64% 64% 61% 60% 58% 60% 532 585 26 29 468 414 20 Penetration 1,675 1,780 343 1,518 1,611 299 13 16 1,397 11 1,264 4QFY131QFY142QFY143QFY144QFY141QFY15 4QFY131QFY142QFY143QFY144QFY141QFY15 4QF
Slide 7: Local content underpins our sustainable market leadership
Local content underpins our sustainable market leadership The maharajahs of comedy 171 Our hit show Maharaja Lawak Mega consistently exceeds #havocwarna New Initiatives total channels 1mn viewership 5 comedians to host this live show that has all elements of comedy! From sketches, games to pranks. 3
Slide 8: 360° coverage of the 2014 FIFA World Cup Brazil
360° coverage of the 2014 FIFA World Cup Brazil™ 35 matches carried via Astro Arena with BM commentary Football Pass for RM100 to access all 64 games live in HD, Astro Go, AOTG and FIFA World Cup On Demand Astro Go 2014 FIFA World Stadium Astro Fantasy Cup App/Web Player #OlaBola Edition • Multi-cam
Slide 9: Double digit revenue growth with strong value proposition across all segments
Double digit revenue growth with strong value proposition across all segments (2) Total revenue (RM mn) YoY growth 1,260 1,254 11% 1,188 1,217 74 80 94% 1,132 1,126 44 69 68 53 9% 32 41 66 64 67 59 49 86 5% 87 88 81 64 Other Radio TV adex TV subscription 991 996 1,032 1,054 8% 960 972 4QFY13 1QFY14
Slide 10: Advertising income in line with overall market sentiments, growth in TV viewership and radex
Advertising income in line with overall market sentiments, growth in TV viewership and radex continues (2) Advertising income (RM mn) YoY growth Share of Radex Radio listeners (mn) TV Radio Others (3) 59% 12.6 155 155 157 12.3 2 3 3 142 53% 2 122 6% 115 66 64 68 2 (15)% 59 2 FY14 FY15 FY14 FY15 53 9
Slide 11: Cost management a key focus to optimise profit growth
Cost management a key focus to optimise profit growth Total operating expenditure (RM mn) Impact of 2014 World Cup not yet reflected 34% 32% 33% 32% 33% 32% Content cost as % of TV revenue 1,079 1,053 1,004 1,020 973 941 125 130 96 120 109 118 138 147 126 Disciplined cost management resulted in 165
Slide 12: Astro B.yond reinvestment cycle completed; capex peaks in FY15
Astro B.yond reinvestment cycle completed; capex peaks in FY15 due to investment on transponder capacity Cash capex (RM mn) Capitalised capex (RM mn) as % of 6% 3% as % of 20% 5% revenue revenue 69 1 3 31 40 1 230 20 68 34 18 FY14 FY15 1 FY14 FY15 Capitalised capex is significantly lower in 1QFY15
Slide 13: Consistently strong free cash generation exceeds PAT
Consistently strong free cash generation exceeds PAT… Free cash flow (RM mn) as % of PAT 234% 218% 144 130 397 426 267 282 Cash from Cash from Free cash flow (3) Cash from Cash from Free cash flow (3) operations investing (2) operations investing (2) FY14 FY15 …enabling significant flexibility on ca
Slide 14: Quarterly dividend announcement
Quarterly dividend announcement Leveraging on invested capital, AMH continues to be highly cash generative enabling the adoption of a progressive dividend policy Board of Directors of AMH is pleased to declare a quarterly dividend of 2.25 sen per share for 1QFY15 This represents a 12.5% increa
Slide 15: Appendix
Appendix
Slide 16: PAT reconciliation
PAT reconciliation (RM mn) FY14 FY15 EBITDA 381 441 Margin % 33.8% 35.2% Increase in D&A primarily due to depreciation in Depreciation and amortisation1 (189) (229) relation to STBs/ODUs capitalised (1QFY14: RM110mn, 1QFY15: RM139mn) EBIT 192 212 Finance income 25 19 Finance cost (60) (64) Share of
Slide 17: Group balance sheet overview
Group balance sheet overview (RM mn) FY14 FY15 (RM mn) FY14 FY15 Non-current assets 4,104 4,334 Non-current liabilities 4,555 4,603 Property, plant and equipment 2,029 2,053 Payables 850 1,149 Other non-current assets 2,075 2,281 Borrowings 3,525 3,334 Other non-current liabilities 180 120 Current a
Slide 18: Debt profile
Debt profile Total borrowings (RM mn) Details of borrowings Finance lease RM term loan USD term loan As at 30 April 2014, outstanding US dollar term loan stood at US$321.75mn. The second principal repayment amounting to USD8.25mn (RM24.9mn) was paid on 9 June 2014 Total borrowings is net of 3,651
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