Dialog Axiata PLC · CSELK:DIAL.N0000
Dialog Axiata — Q4 2009 Earnings Presentation
26 slides from Dialog Axiata's earnings presentation, 2010
Slide 1: Investor Forum Q4 2009
Investor Forum Q4 2009 .......... Enriching Sri Lankan Lives an axiata company
Slide 2: Performance Trend: QoQ Performance Overview
Performance Trend QoQ Performance Overview* Dialog Telekom Revenue 6% 2% Subs 1% EBITDA 27% NPAT 228% PLC (Company) Dialog Broadband Revenue 3% Subs 1% EBITDA 104% NPAT 18% Networks (DBN) Dialog Television Revenue Subs 6% EBITDA 111% NPAT 30% (DTV) 12% Dialog Group Revenue 6% EBITDA 33% NPAT 484% *N
Slide 3: Performance Trend: YoY Performance Overview
Performance Trend YoY Performance Overview* Dialog Telekom 28% Revenue 2% Subs 16% EBITDA 2% NPAT PLC (Company) Dialog Broadband 7% >1000% Revenue Subs 5% EBITDA NPAT 0% Networks (DBN) Dialog Television Revenue Subs 22% EBITDA 54% NPAT 9% (DTV) 28% Dialog Group Revenue 1% EBITDA 4% NPAT 45% *Normali
Slide 4: Summary: Impact of Non-recurring charges on NPAT
Summary: Impact of Non-recurring charges on NPAT Company Group (All figures in Rs. Mn.) Q4 09 YTD 09 Q4 09 YTD 09 Normalised NPAT 1,213 1,129 761 (1,159) Non-recurring (Non-cash) Items (1,963) (9,716) (2,584) (10,146) Non-recurring (Cash) Items (410) (623) (410) (903) Reported NPAT (1,160) (9,210) (
Slide 5: Dialog Telekom PLC – Company
Dialog Telekom PLC — Company Dialog
Slide 6: Dialog Telekom PLC: P&L Highlights
Dialog Telekom PLC: P&L Highlights 9 Revenue grew by 6% QoQ & 8% relative to Q4 08 9 Normalised EBITDA & NPAT improved by 27% & 228% on a QoQ basis QoQ Q4’09 Vs. YTD (All figures in LKR Mn.) Q4’09** change Q4’08 YTD 09 change Revenue 8,610 6% 8% 32,515 -2% Normalised Total Cost* 5,623 -3% -13% 23,20
Slide 7: NPAT Reconciliation Q3 09 to Q4 09
Net Profit ‐ Normalised Q3 370 09 Var. Revenue 485 Var. Direct Cost 49 98 Var. Opex Var. 112 Depreciation/Amortisation Operational Improvement Var. Non Opex 99 Net Profit ‐ Normalised Q4 09 1,213 NPAT Reconciliation Q3 09 to Q4 09 Var. Revenue 101 Var. Direct Cost 193 Var. Opex (644) Var. Accelerate
Slide 8: Impact of Non recurring charges on NPAT YTD 09
Net Profit Normalised 1,129 2009 Var. Revenue (159) Var. Direct Cost 269 Var. Opex (807) Var. VRS (881) Var. Non opex 102 Non Recurring Charges Depreciation/Impairment (270) CWIP/CI provision (2,117) Accelerated Depreciation (444) Impact of Non recurring charges on NPAT YTD 09 Network Modernaisation
Slide 9: Revenue Trends - Company
Revenue Trends - Company Company Revenue 6% Quarterly Revenue – Rs. Mn. 9 Amidst intense price competition 9 Increase in Inbound roaming revenue 8% 9 International voice termination up 10% QoQ 6% Pre-paid revenue dominant contributor to revenue Post-paid Non voice & IDD revenue continued to incr
Slide 10: Revenue Drivers & Dynamics
Revenue Drivers & Dynamics Pre : Post mix 89% 11% Prepaid Postpaid No of Subscribers & ARPUs
Slide 11: Direct Costs: Improved due to Strategic Cost Re-Scaling program
Direct Costs: Improved due to Strategic Cost Re-Scaling program Direct Cost Composition* 9 Levies – a significant component of Direct Costs Direct Costs* declined 2% QoQ and • Increased by 3% QoQ & by 36% YoY due to by 6% relative to Q4 08 increase in International termination Direct Costs trends* –
Slide 12: Greater improvement in Operating Costs
Greater improvement in Operating Costs Operating Costs declined by 11% YTD, 4% QoQ and 21% YoY 9 Decline in operating costs were driven by reduction in operating overheads, administration & manpower related expenses Operating Cost Composition* LKR Mn. Operating Costs trends* – Q4 08 to Q4 09 11% 11,
Slide 13: EBITDA, NPAT & Margins
EBITDA, NPAT & Margins EBITDA normalised for Non recurring items at Rs. 2.99Bn Normalised NPAT improved significantly • growth of 27% Vs. Q3 09 • Improvement of 228% Vs. Q3 09 EBITDA margin 35% Non-recurring Items in Q4 include 9One-off correction to depreciation charge - Rs. 444Mn up 5% pts Vs. Q3
Slide 14: Balance Sheet – Dialog Telekom
Balance Sheet – Dialog Telekom (All figures in Rs. ‘000) 31st December 31st December 2009 2008 ASSETS Non current liabilities have increased due to term loan of USD 100Mn. Non - current assets 65,766,982 69,677,390 obtained from OCBC in March ’09 & Current assets 12,424,057 10,455,461 USD 25Mn in
Slide 15: Cash Flow Highlights - Company
Cash Flow Highlights - Company (All figures in Rs. Mn.) 31st December 31st December 2009 2008 Net cash from operating activities 12,326 6,223 Net cash used in investing Activities (11,935) (20,951) Net cash generated from financing activities 3,528 7,815 Increase/(decrease) in cash and cash equivale
Slide 16: Capital Structure
Capital Structure • Net debt/EBITDA has increased mainly due to increase in borrowings (OCBC - USD 125Mn., advances from Axiata - USD 79.5Mn.) and reduction in earnings • Reduction in Net Asset base is mainly due to a one-off provision of Rs. 6Bn for impairment arising on account of network modernis
Slide 17: Funding Position
Funding Position Summary of outstanding borrowings - As at 31 December 2009 Instructions Type of Currency Facilities Principal Less than More than one facility amount outstanding one year year USD Mn eqv. USD Mn eqv. USD Mn eqv. USD Mn eqv. 8.75 5.25 1.75 3.50 DFCC Term Loan LKR 21.88 21.63 21.63 0.
Slide 18: Dialog Group
Dialog Group Dialog
Slide 19: Dialog Group – P&L Highlights
Dialog Group – P&L Highlights 9 Normalised Group costs declined by 3% QoQ & 15% relative to Q4 2008 9 Normalised EBITDA & NPAT improved by 33% & 484% respectively on a QoQ basis QoQ Q4’09 Vs. YTD (All figures in LKR Mn.) Q4’09** change Q4’08 YTD 09 change Revenue 9,473 6% 8% 35,774 -1% Normalised To
Slide 20: Dialog Group NPAT Reconciliation Q3 09 to Q4 09
Net Profit ‐ Normalised Q3 (198) 09 Var. Revenue 527 77 Var. Direct Cost Var. Opex 140 Var. 96 Depreciation/Amortisation Operational Improvement Var. Non Opex 119 Net Profit ‐ Normalised Q4 761 09 Var. Revenue 101 Var. Direct Cost 184 Var. Opex (644) Var. Accelerated Depreciation/Impairment (2,778)
Slide 21: Impact of Non recurring charges on Group NPAT YTD 09
Net Profit ‐ Normalised (1,159) 2009 Var. Revenue (159) Var. Direct Cost 261 Var. Opex (654) Var. VRS (904) Var. (490) Depreciation/Impairment Non Recurring Charges CWIP/CI provision (2,318) Accelerated Depreciation (855) Network Modernaisation (6,032) Var. Non Opex 102 Net Loss ‐ 2009 Impact of Non
Slide 22: Dialog Broadband Networks (DBN)
Dialog Broadband Networks (DBN) (Fixed Telephony and Broadband Services)
Slide 23: DBN – P&L Highlights
DBN – P&L Highlights 9 Revenue excl. connection fee increased by 23% in 2009 vs YTD 08 9 DBN’s Q4 2009 performance incl. a non-recurring charge of Rs. 591Mn. arising from best practice aligned depreciation estimates & Capital Inventory provisioning QoQ Q4’09 Vs. YTD (All figures in LKR Mn.) Q4’09 ch
Slide 24: Dialog Television (DTV)
Dialog Television (DTV) Dialog
Slide 25: DTV – P&L Highlights
DTV – P&L Highlights 9 Normalised EBITDA was recorded at positive Rs. 4Mn in Q4 ’09 9 Normalised NPAT improved by 30% on a QoQ basis & 9% relative to 2008 QoQ Q4’09 Vs. YTD (All figures in LKR Mn.) Q4’09 YTD 09 change Q4’08 change Revenue 458 12% 27% 1,641 28% EBITDA (6) -759% 98% (245) 61% Normalis
Slide 26: Thank You
Thank You Dialog