Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q1 2011 Earnings Presentation
17 slides from Taiwan Mobile's earnings presentation, Apr 28, 2011
Slide 1: Taiwan Mobile Co., Ltd. 1Q11 Results Summary
Taiwan Mobile Co., Ltd. 1Q11 Results Summary April 28, 2011 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. (the “Company”) undertakes no obligation to update or revise the
Slide 3: Business Overview
BARK Business Overview
Slide 4: Robust Wireless Data Growth
Robust Wireless Data Growth Mobile Service Revenue Data Business – 1Q11 YoY Change in 1Q11 NT$: bn CHT* FET TWM Data revenue 3.52 2.73 2.80 data % of service 19% 20% 21% revenue $880mn Data rev. YoY 39% 36% 46% ARPU Comparison – 1Q11 F2M pricing change 700 703 707 $648mn 693 mandatory tariff cut 642
Slide 5: Our Smartphone Strategy
Our Smartphone Strategy Contribution comparison in 1Q11 YTD new products introduced ARPU pay-back period 1,659 HTC Nexus BB BB SE Play 749 Incredible S S Torch 9780 white Bold Post-paid Smartphone Acer Dell ICONIA Tab A500 Streak 5 Price of NT$15,000 Smartphone sales volume ASUS Eee Pad 209,000 Tran
Slide 6: CATV Growth Catalysts
CATV Growth Catalysts Basic TV Subscription Sub no. 570K subs Cable internet Digital TV 1Q11 YoY ARPU Subscription growth 142K subs 30K subs Analogue TV 3% 506 Cable internet Cable internet 18% 516 New adds speed mix DTV 155% 172 35% 58% 65% 42% Blended ARPU 735, +3% YoY 1Q10 1Q11 >=10Mbps <10Mbps 6
Slide 7: Financial Overview
BARK Financial Overview
Slide 8: Result Summary
Result Summary Unit: NT$m 2011 1Q11 1Q10 YoY Execution Forecast Operating revenue 18,222 17,085 7% 73,956 25% Operating cost (10,911) (8,803) 24% (43,430) 25% Marketing expense (2,252) (2,332) -3% (9,496) 24% G&A expense (1,078) (1,169) -8% (4,737) 23% Operating income 3,981 4,780 -17% 16,294 24% Ne
Slide 9: Divisional Performance
Divisional Performance Revenue EBITDA NT$bn CBG HBG EBG Total CBG HBG EBG Total 1Q11 14.37 1.45 2.41 18.22 4.92 0.75 0.61 6.29 % of total 79% 8% 13% 100% 78% 12% 10% 100% QoQ 2% 0% -1% 2% -2% 5% -1% -1% YoY 6% 4% 8% 7% -16% 12% 16% -11% 9
Slide 10: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 1Q11 4Q10 1Q11 4Q10 Total Assets 84.44 85.48 Liabilities 30.25 34.58 Current Assets 15.66 15.24 Current Liabilities 21.16 23.23 - Cash & Cash Equivalents 5.93 6.05 - ST Debts 1.36 3.70 - Available-for-Sale Financial Assets 0.20 0.20 - Other Current Liabilities 19.80 19.5
Slide 11: Cash Flow Analysis
Cash Flow Analysis NT$bn 1Q11 4Q10 1Q10 Operating Cash Flow 6.00 7.63 7.90 Investing Cash Flow (1.48) (1.53) (1.49) Financing Cash Flow (4.64) (2.80) (6.45) NT$bn 1Q11 4Q10 1Q10 Cash CAPEX (1.28) (1.40) (1.46) Free Cash Flow 4.71 6.23 6.44 11
Slide 12: Guidance
Guidance Looking into 2Q, we expect both revenue & EBITDA to trend up sequentially. With higher asset write-off losses in 2Q, our 2Q EPS is forecasted to be NT$1.10, flattish QoQ. 12
Slide 13: Event Update & Key Message
SABA Event Update & Key Message
Slide 14: Event Update
Event Update 2010 Earnings Distribution – TWM’s board meeting today (April 28) approved a proposal to distribute NT$12.4bn of cash dividends or 90% payout to shareholders. Dividend per share is NT$4.16 based on 2,989m shares, which excluded treasury shares held by 100%-owned subsidiaries. Regulatory
Slide 15: Event Update – Cont'd
Event Update – Cont’d Awards – Won a 2011 Asian Excellence Recognition Award for “Best Corporate Investor Relations” in Taiwan from Corporate Governance Asia magazine. New Products and Services – In March, introduced a smartphone promotion specifically targeting students where students can choose fr
Slide 16: Key Message
Key Message Our thrust into smartphone penetration has paid off in the first quarter in helping mitigate the impact from regulatory intervention. Pending approval from the FTC, the Momo acquisition as announced will further support our drive to diversify into other core businesses. Meanwhile, regula
Slide 17: Q&A
Q&A 17