Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — MobileOne — H1 2009 Earnings Presentation
19 slides from Singapore Exchange's earnings presentation, Jul 16, 2009
Slide 1: 1H09 Results Presentation
1H09 Results Presentation 16 July 2009
Slide 2: Forward looking statements – Important note
Forward looking statements – Important note This presentation and the following discussion may contain forward looking statements b M by MobileOne bil O Ltd (“M1”) relating l ti tto fifinancial i l trends t d forf future f t periods i d Some of the statements contained in this presentation or arisin
Slide 3: Overview
Overview z Operating revenue declined 7.9% to S$377m Financial z 2Q09 EBITDA margin improved to 44.8%, bringing highlights 1H09 EBITDA margin to 44.7% of service revenue for 1H09 z Net profit at S$79m, comparable to 1H08 z Mobile customers: 1.67m (Net increase: 50,000) Operating z Monthly postpaid c
Slide 4: Agenda
Agenda Financial performance Operating performance Developments & outlook 3
Slide 5: Revenue & margin
Revenue & margin Operating revenue breakdown (S$m) EBITDA & EBITDA margin on service revenue Service revenue: -8.1% 44.7% 42.9% 409 -7.9% 31 377 Fixed netw ork -4.4% 4 4% services 30 72 Handset sales 65 EBITDA (S$m) International call services Margin (%) Telecom- munications services 162 155 307 282
Slide 6: Cost breakdown
Cost breakdown Cost of sales/Operating revenue Other operating expenses/ Operating revenue 39.3% 37.9% 36.4% 37.3% 2.6% % Other G&A 2.5% expenses 10.3% Other costs 4.8% 3.7% 10.0% 2.0% 1.4% Facilities expenses Traffic 7.5% expenses Doubtful debt 6.7% 14 8% 14.8% provision 16.7% 6.9% Leased 3.8% Depr
Slide 7: Bottom line & cash flow
Bottom-line Bottom line & cash flow PAT & PAT margin Free cashflow (S$m) on service revenue 22.7 -15.2% 20.9 -0.3% PAT ((S$m)) 103 Margin (%) 87 79 79 1H08 1H09 1H08 1H09 6
Slide 8: Capex & Financial Leverage
Capex & Financial Leverage S$m 1H09 1H08 Change % FY08 C Capex 31 8 31.8 11 8 11.8 169 5% 169.5% 94 1 94.1 Cash & cash equivalents 40.7 38.4 6.0% 17.8 Net debt 209.3 231.6 -9.6% 232.2 Net assets 239.2 208.0 15.0% 223.2 Net debt/equity (x) 0.9 1.1 -21.4% 1.0 Net debt/EBITDA (x)* 0.7 0.7 -3.3% 0.7 EBI
Slide 9: Operating performance
Financial performance Operating performance Developments & outlook 8
Slide 10: Customer base & revenue mix
Customer base & revenue mix Customer base (‘000) Mobile telecommunications revenue mix (S$m) Postpaid Prepaid Prepaid 1,669 Postpaid 1,621 1,630 1,619 1,611 17 9 17.9 18 8 18.8 17 7 17.7 17.7 17.5 12% 738 748 783 47% 734 740 135.5 130.3 127.7 122.6 124.0 88% 877 882 882 879 886 53% 2Q08 3Q08 4Q08 1Q
Slide 11: Market share
Market share Postpaid market share* Prepaid market share* 40% 40% 30% 30% 26.5% 24.5% 20% % 20% 10% 10% 0% 0% 2Q08 3Q08 4Q08 1Q09 May 09 May-09 2Q08 3Q08 4Q08 1Q09 May 09 May-09 * - Based on available figures from IDA 10
Slide 12: Acquisition, retention costs & churn trend
Acquisition retention costs & churn trend Acquisition, Average acquisition & retention costs Monthly churn rate per customer (S$)* Acquisition Retention 2.0% 179 1.8% 1.7% 167 1.6% 1.6% 156 1.5% 149148 151 150 1.5% 140 135 134 116 93 1.0% 0.0% 0 0% 2008 2Q08 3Q08 4Q08 1Q09 2Q09 2008 2Q08 3Q08 4Q08 1
Slide 13: ARPU & MOU trend
ARPU & MOU trend Monthly prepaid & postpaid ARPU (S$)* Monthly MOU per sub (mins) Prepaid Postpaid Prepaid Postpaid 65.4 63.9 352 355 352 62.7 62.2 350 349 59.7 60.7 338 244 249 223 199 195 185 17 3 17.3 17 8 17.8 16.4 16.3 16.3 15.5 2008 2Q08 3Q08 4Q08 1Q09 2Q09 2008 2Q08 3Q08 4Q08 1Q09 2Q09 * Note
Slide 14: Data ARPU & non-voice contribution trend
Data ARPU & non-voice non voice contribution trend Data plan ARPU (S$) Non-voice and data contribution to service revenue (%) SMS Mobile Data 25.1% 23.4% 23.8% 24.1% 25.1% 31.5 22.7% 28.4 28.0 24.1 14.6% 14.2% 22.6 22.8 14.0% 13.9% 13.4% 14.2% 9.5% 9.3% 9.6% 10.1% 10.5% 10.9% 2008 2Q08 3Q08 4Q08 1Q0
Slide 15: International call services
International call services z For 1H09:- M1 international retail minutes (million) Î Revenue for international call 526 services decreased 9.6% YoY to S$64.8m Î International retail traffic grew 45.3% to 340 million mins +45.3% 340 Î Roaming traffic stabilised QoQ in 2Q09 but declined 27% YoY 234 Î
Slide 16: Developments & outlook
Financial performance Operating performance Developments & outlook 15
Slide 17: Developments and outlook for 2009
Developments and outlook for 2009 z Operating conditions for the rest of the year are likely to remain challenging Î S t i bl global Sustainable l b l economic i recovery is i still till uncertain t i Î Flu pandemic may affect consumer spend z R Remain i di disciplined i li d iin costt managementt a
Slide 18: Developments and outlook for 2009 (con't)
Developments and outlook for 2009 (con’t) (con t) z Dividend policy Î Interim dividend off 6.2 cents per share Î Maintain full year payout ratio of 80% of net profit after tax z G id Guidance ffor ffull-year ll 2009 Î Capex of around S$100m Î Net profit after tax is likely to be comparable to 2008 1
Slide 19: Thank you
wm Thank you