Emirates Telecom. Group Company (etisalat Group) Pjsc · ADX:EAND
Emirates Telecom. Group Company (etisalat Group) Pjsc — e& (Emirates Telecommunications Group Company PJSC) — Q3 2024 Earnings Presentation
23 slides from Emirates Telecom. Group Company (etisalat Group) Pjsc's earnings presentation, Oct 30, 2024
Slide 1: Q3 2024 Results Presentation
Q3 2024 Results Presentation 30 October 2024
Slide 2: Disclaimer
Disclaimer Emirates Telecommunications Group Company PJSC (“e&” or the “Company”) and its subsidiaries have prepared this presentation (“Presentation”) in good faith, however, no warranty or representation, express or implied is made as to the adequacy, correctness, completeness or accuracy of any n
Slide 3: Table of Content
Table of Content 01 Q3 2024 at a Glance 02 Group Financial Highlights 03 Performance by Vertical 04 Guidance Investor Relations I 3 Restricted
Slide 4: Group Key Highlights
Group Key Highlights Hatem Dowidar, e& Group CEO Restricted
Slide 5: Executive Summary
Executive Summary Q3 2024 Overview e& acquired 50% +1 economic share in PPF Progressing as planned Revising upward full Telecom’s assets be subject to regulatory year guidance for under the new name “e& approvals revenue and EPS PPF Telecom” Investor Relations I 5 Restricted
Slide 6: Key Highlights 9M 2024
Key Highlights 9M 2024 Strong topline growth with stable EBITDA Revenue Telco Revenue Operating Free Cashflow +9% Y-o-Y increase in Constant +7% Y-o-Y increase in constant with a margin of 33% Currency currency with growth across most key markets EBITDA Telco EBITDA Margin Net Debt/EBITDA Flat Y-o-Y
Slide 7: Group Financial Highlights
Group Financial Highlights Karim Bennis, e& Group CFO Restricted
Slide 8: Group Revenue
Group Revenue Accelerated revenue growth Key Highlights Revenue (AED mn) & YoY Growth (%) Sources of Revenue Variance (AED mn) • Strong & consistent revenue +10% 496mn growth attributed to both telco 265 14,424 and digital verticals 14,424 13,397 14,092 298 • e& UAE sustained solid 128 6 commercial
Slide 9: Group EBITDA
Group EBITDA Margins impacted by inflationary pressure, changes in revenue mix and +ve one-offs in PY Key Highlights EBITDA (AED mn) & Margin (%) Sources of EBITDA Variance (AED mn) • e& group EBITDA margin -4% -142mn reached 45%, declining y-o-y 6,896 due to changes in revenue mix. 6,896 6,573 6,48
Slide 10: Group CAPEX
Group CAPEX Investing for future growth Key Highlights CAPEX (AED mn) & Intensity Ratio (%) Sources of CAPEX Variance (AED mn) • Overall capex remained stable 268 capex spend y-o-y in absolute 1,794 1,787 1,817 terms and as a percentage of revenue 1,794 116 1,817 3% -2% 3% 13% 13% 13% • Higher capit
Slide 11: Group Financial Position
Group Financial Position Robust liquidity position Key Highlights Cash & Cash Equivalents (AED mn) Total Debt (AED mn) 25,721 51,608 24,189 23,861 46,887 47,721 • Improved cash balance supported by healthy cashflow generation 3% -2% 3% • Increased debt balance as a result of higher bank borrowings b
Slide 12: Group Debt Profile
Group Debt Profile Diversified sources of debt Key Highlights Borrowings by Operations (AED mn) Borrowings by Currency (%) 39,020 USD 2% Others 8% PKR 5% MAD 10% • Total 3% debt of AED 51.6 bn-2% 3% Euro AED • 76% of debt is at Group 17% 58% 8,588 level, mostly in bank borrowings 2,941 1,059 • 60% o
Slide 13: e& UAE
e& UAE Continued topline growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) 14.0 14.6 14.7 7,842 8,213 8,172 • Expanding customer base by connecting a net of 0.7 6% million new customers 3% -2% 3% 5% 4% • Sustained revenue growth driven by solid execution and healthy operating
Slide 14: UAE Breakdown & Key KPIs
UAE Breakdown & Key KPIs Elevating revenues across the board supported by strong operational KPIs Mobile Revenue(1) (AED mn) & YoY Growth (%) Fixed Revenue(2) (AED mn) & YoY Growth (%) Other Revenue(3) (AED mn) & YoY Growth (%) 3,003 3,019 2,865 2,906 2,888 2,304 2,265 2,883 2,094 20% 5% 5% 2% 3% 8%
Slide 15: e& international
e& international Solid revenue growth in constant currency Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) • International subscribers +10% grew 6% y-o-y, reaching 163mn mainly on growing 161 163 4,950 4,951 5,079 153 base of Egypt and Moov Africa • In constant 3% currency, -2% 3%
Slide 16: Maroc Telecom Group
Maroc Telecom Group Persisting regulatory and competition headwinds in Morocco impacting performance Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) -1% • Year on year growth in 75.1 78.4 79.7 3,228 3,206 3,274 subscriber base attributed to Moov Africa • Revenue 3% growth impacted
Slide 17: e& Egypt
e& Egypt Strong overall performance, EBITDA decline due to one-off in comparable period Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +43% • Higher customer base by 12.9% y-o-y attributed to 35.8 37.0 956 32.7 826 873 attractive commercial offerings • Strong3%double digit revenue
Slide 18: PTCL Group
PTCL Group Higher revenues offset by macroeconomic conditions Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +15% 27.6 28.0 28.2 733 737 • Subscribes base increased 611 y/y by 2% due to mobile and FTTH customers 21% 3% -2% 19% • Strong revenue growth attributed to higher demand -3
Slide 19: e& enterprise
e& enterprise Growth in Cyber and Cloud offset slowdown in IoT; higher contribution from KSA e& enterprise Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) +1% 88 • Revenue growth is flat YoY, 674 680 mainly driven by IoT projects delay 3% -2% 3% • Sustained revenue g
Slide 20: e& life
e& life Strong topline growth across different segments e& life Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) +160% 484 -2% • e& life maintained strong -4 3% year revenue -2% year over 3% growth (+160%) • Growth was strong across all e& life companies, and especial
Slide 21: e& life Key Highlights | Q3 2024
e& life Key Highlights | Q3 2024 3x 703K+ + 177% Total GTV in Q3’24 versus Q3’23 1 TOTAL GTV CARDS ISSUED Q3’24 vs Q3’23 as of Q3’24 GTV per USER grew by +122% in 2.4x 1.29M+ Q2’34 compared to Q3’23 REMITTANCE REGISTERED GTV USERS CAREEM + reached 50% of MAU Q3’24 vs Q3’23 as of Q3’24 base in Q3’24
Slide 22: FY 2024 Guidance
FY 2024 Guidance: Revising our full year revenue and EPS guidance 9M 2024 Actual FY 2024 Guidance Updated Guidance Revenue Growth Y-o-Y in Constant Currency 7% Mid-Single Digit High Single Digit (%) EBITDA Margin Telecom 49% ~ 49% ~49 (%) CAPEX Intensity Ratio (%) 13% ~16% ~16% Revenue Growth Y-o-Y
Slide 23: Restricted
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e& (Emirates Telecommunications Group Company PJSC) — Q3 2024 Earnings Presentation on 6ix