Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q1 2024 Earnings Presentation
17 slides from Taiwan Mobile's earnings presentation, May 14, 2024
Slide 1: Taiwan Mobile Co., Ltd. 1Q24 Results Summary
Taiwan Mobile Co., Ltd. 1Q24 Results Summary May 14, 2024 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: 1Q24 Highlights
1Q24 Highlights Solid growth across 3 core sectors Mobile Service Revenue E-commerce Home Broadband Subs +27% YoY* +7% YoY +4% YoY Consolidated EBITDA New High Consolidated Operating Income New High since 2Q18 *Reflects a full quarter of T Star’s contribution as the merger took place on Dec 1, 2023.
Slide 5: Mobile – Growth Engine #1
Mobile – Growth Engine #1 1Q24 results Smartphone ARPU Mobile Service Revenue Monthly fee uplift (non-bundle) from renewals TWM NT$15.98 bn 715 Alone 697 700 4G to 5G +46% 700 653 Overall +9% 1Q23 2Q23 3Q23 4Q23 1Q24 1Q20 1Q21 1Q22 1Q23 1Q24 1Q23 1Q24 5G Penetration of Smartphone User Base Unique bu
Slide 6: momo – Growth Engine #2
momo – Growth Engine #2 Revenue EBITDA (NT$mn) YoY (NT$mn) YoY 26,878 Total 25,120 +7% +6% 1,377 1,456 Others E-commerce 24,077 25,802 +7% +7% 1,241 1,323 1Q23 1Q24 1Q23 1Q24 Active Users E-commerce 15.00% EBITDA Margin +7% 10.00% 5.15% 5.13% YoY 5.00% 1Q24 0.00% -5.00% 1Q23 1Q24 Note: E-commerce in
Slide 7: Broadband – Growth Engine #3
Broadband – Growth Engine #3 Cable Broadband Subscriber 1Q24 Penetration Rate (TFNM+Double Play) YoY 70.5% 58.9% 61.4% ≥300Mbps +51% 50.8% <300Mbps Top 4 Top 4 TFNM MSO TFNM MSO 1Q23 1Q24 DTV Broadband Source: Market intelligence Source: Market intelligence CATV Revenue CATV EBITDA (NT$mn) YoY (NT$m
Slide 8: Financial Overview
Financial Overview 8
Slide 9: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 1Q24 20.72 26.88 1.47 48.28 8.18 1.46 0.78 10.59 % of 43% 56% 3% 100% 77% 14% 7% 100% total 1Q24 20% 7% -6% 12% 27% 6% 5% 22% YoY 4Q23 12% 3% -6% 6% 11% 5% -1% 9% YoY 1. The sum of each account of telecom,
Slide 10: Results Summary
Results Summary 1Q24 NT$bn Amount QoQ YoY Revenues 48.28 -10% 12% Cash Cost & Expense (37.69) -15% 10% Operating Income 4.66 4% 9% Non-op. Income (Exp.) (0.33) nm 46% Pre-tax Income 4.32 -12% 6% Net Income1 2.97 -17% 9% EPS (NT$) 0.98 -22% 2% EBITDA 10.59 12% 22% 1. Excluding one-off divestment gain
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 1Q24 4Q23 1Q23 NT$bn 1Q24 4Q23 1Q24 Total Assets 239.02 242.96 191.46 Liabilities 142.03 149.58 115.34 Current Assets 42.98 44.16 40.43 Current Liabilities 72.32 75.73 64.24 - Cash & Cash Equivalents 13.96 13.24 14.26 - ST Debts 33.80 35.05 31.37 - Receivable & Contract
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 1Q24 4Q23 1Q23 Operating 10.32 7.69 4.81 Investing (2.85) 0.51 (2.61) Financing (6.75) (6.14) (2.88) NT$bn 1Q24 4Q23 1Q23 Pre-IFRS 16 Operating1 8.73 6.45 3.66 Cash CAPEX (2.77) (1.43) (2.37) Free Cash Flow 5.96 5.01 1.29 1. “Lease expenses” previously under operating activi
Slide 13: Event Updates
Event Updates 13
Slide 14: Awards and ESG Recognitions
Awards and ESG Recognitions CDP Climate Change CDP Supplier Engagement Rating Grade A Rating Grade A Rating For the 4th time For 3 years in a row Best among Taiwanese telcos Top 12% of evaluated companies Received top scores in 6 categories Received top scores in 3 categories Targets, Scope 1 & 2 Em
Slide 15: Key Message
Key Message In the first quarter of 2024, we delivered commendable financial results, marked by healthy EPS growth and robust free cash flow. Our core mobile business continued its strong growth trajectory, while we out- execute merger integration against already aggressive plans. Looking ahead, we
Slide 16: SIBARK
SIBARK Taiwan Mobile 16
Slide 17: Appendix: TWM – TST Merger
Appendix: TWM – TST Merger • The merger with T Star was effective on December 1, 2023. • Approximately 204mn new shares were issued, bringing total outstanding shares to 3,723mn (including 699mn treasury shares which are excluded from EPS calculation and dividend distribution). Combined Sub 6GHz Spe