Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q3 2009 Earnings Presentation
13 slides from Taiwan Mobile's earnings presentation, Oct 29, 2009
Slide 1: Taiwan Mobile Co., Ltd. 3Q09 Results Summary
Taiwan Mobile Co., Ltd. 3Q09 Results Summary Harvey Chang - CEO October 29, 2009
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. (the “Company”) undertakes no obligation to update or revise the
Slide 3: Outline
Outline 3Q results summary – 3Q P&L – 3Q divisional performance – 3Q mobile operational analysis – Balance sheet and cash flow analysis 4Q and full-year forecast Event update Key message 3
Slide 4: Result Summary
Result Summary Unit: NT$m 3Q Actual 3Q Forecast Execution % Operating revenue 17,359 17,568 99% Cost (8,331) (8,311) 100% Marketing expense (2,615) (2,820) 93% G&A expense (1,203) (1,345) 89% Operating income 5,211 5,092 102% Net non-oper. items (528) (449) 118% Income before tax 4,683 4,644 101% Ne
Slide 5: 3Q Divisional Performance
3Q Divisional Performance YoY YoY YoY Conso- YoY NT$bn CBG HBG1 EBG Chg. Chg. Chg. lidated Chg. Revenue 13.70 -2% 1.35 23% 2.36 -8% 17.36 -1% EBITDA 6.24 -6% 0.63 15% 0.51 13% 7.43 -3% EBITDA 45.5% -2.1pps 46.6% -3.1pps 21.7% 4.0pps 42.8% -0.7pps % Note: 1. HBG numbers included content business from
Slide 6: Wireless Peer Comparison
Wireless Peer Comparison Subs CHT FET TWM Total (K) 3Q09 9,130* 6,249 6,415 21,794 3Q08 8,870 6,264 6,224 21,357 3Q YoY 2.9% -0.2% 3.1% 2.0% *: CHT is based on August number. Mobile EBITDA Margin Unit: NT$m 45.1% 43.5% 9,000 42.0% 42.6% 42.6% 44% TWM 42.4% 41.6% 40% 7,000 40.5% 39.0% 39.5% FET 36% 5
Slide 7: VAS and 3G
VAS and 3G CHT FET TWM NT$m % of % of % of VAS1 VAS VAS service rev. service rev. service rev. 3Q09 2,067 11.3% 1,935 13.8% 1,743 12.4% 3Q08 1,742 9.5% 1,779 12.3% 1,366 9.4% 3Q YoY 19% 9% 28% 2Q YoY 20% 12% 26% 1. CHT Sept. VAS revenue is an estimate. 3G post-paid Main VAS drivers 3Q09 3G Service 3
Slide 8: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 3Q09 2Q09 3Q09 2Q09 Total Assets 87.07 91.88 Liabilities 38.46 47.26 Current Assets 11.91 15.70 Current Liabilities 27.16 38.24 - Cash & Cash Equivalents 2.81 6.50 - ST Debts 11.30 7.50 - Available-for-Sale Financial Assets 0.17 0.32 - Other Current Liabilities 15.86 30.
Slide 9: Cash Flow Analysis
Cash Flow Analysis NT$bn 3Q09 2Q09 3Q08 Operating Cash Flow1 4.92 4.05 5.71 Investing Cash Flow (1.13) (2.10) (1.79) Financing Cash Flow (7.49) (0.16) (4.45) Cash CAPEX (1.25) (2.09) (2.01) Free Cash Flow 3.67 1.95 3.70 Note 1: Inclusive of cashflow for cash managements 9
Slide 10: 4Q & 2009 Forecast
4Q & 2009 Forecast NT$bn 4Q09 QoQ YoY 2009 Revenue 17.52 1% 3% 69.11 EBITDA 7.39 -1% 5% 29.25 EBITDA Margin 42.17% -0.63pps 0.65pps 42.33% Operating Income 5.09 -2% 4% 20.36 Assets Write-off (0.37) -22% -47% (1.70) Pre-Tax Income 4.70 0% 12% 18.53 Tax Expense (1.17) 0% 12% (4.64) Net Income 3.52 0%
Slide 11: Event update: Acquisition and Award
Event update Acquisition – Filing with FTC (Fair Trade Commission) on October 9th to acquire Carlyle’s cable assets in Taiwan Award – Awarded A+, the highest ranking in Information Disclosure and Transparency Assessments conduced by Securities and Futures Institute, four times in a row 11
Slide 12: Key message
Key message Expect to meet the guidance for the year for our existing businesses Look forward to further enhancing shareholder return after completion of the cable acquisition 12
Slide 13: Q&A
Q&A 13