Slide 1: Maxis Berhad 3Q 2009 Results Presentation
MAXIS BERHAD 3Q 2009 RESULTS PRESENTATION 1st December 2009
Slide 2: Table of Contents
TABLE OF CONTENTS Performance Overview Operational Highlights Financial Highlights 2
Slide 3: Performance Overview
SY Maxis. PERFORMANCE OVERVIEW
Slide 4: Basis of Preparation
BASIS OF PREPARATION As at 30 September 2009, the Pre-Listing Restructuring involving the acquisition of the Subsidiaries by Maxis Berhad from MCB has not been completed. Accordingly, The third quarter financial statements are prepared using the same basis as the audited combined financial stateme
Slide 5: Key Highlights for 3Q09
KEY HIGHLIGHTS FOR 3Q09 ● 2% QoQ Revenue growth ● 50.4% EBITDA margin ● 11.7m Subscribers ● 312k Net adds ● 33% of Non voice revenues 5
Slide 6: At a Glance 3Q09
AT A GLANCE 3Q09 Growth YTD YTD Growth Combined Basis 2Q09 3Q09 QoQ 3Q08 3Q09 YTDoYTD Revenue (RM m) 2,116 2,156 +1.9% 6,187 6,400 +3.4% EBITDA (RM m) 1,073 1,086 +1.2% 3,258 3,231 -0.8% EBITDA margin 50.7% 50.4% -0.3pp 52.7% 50.5% -2.2pp PAT (RM m) 594 615 +3.5% 1,740 1,756 +0.9% PAT margin 28.1% 2
Slide 7: Operational Highlights
SY Maxis. OPERATIONAL HIGHLIGHTS
Slide 8: Subscriptions
SUBSCRIPTIONS Subscription Breakdown WBB +54% Prepaid +3% Postpaid +17% WBB +10% Postpaid Prepaid WBB Prepaid +4% Postpaid -1% 16,000 11,041 11,234 11,266 11,423 11,735 Subscribers ’000 12,000 140 151 171 189 122 8,000 8,608 8,590 8,460 8,524 8,835 4,000 2,311 2,504 2,655 2,728 2,711 0 3Q08 4Q08 1Q0
Slide 9: ARPU
ARPU ● ARPU stable ARPU Postpaid Prepaid WBB Blended Postpaid -1% Postpaid -10% 150 Prepaid 0% Prepaid -11% WBB -7% WBB +9% Blended 0% Blended -8% 114 110 108 101 104 102 104 107 103 100 103 101 97 100 93 RM 58 59 59 54 54 54 54 46 47 41 47 50 42 41 42 0 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 9
Slide 10: MOU
MOU ● MOU remains stable MOU 600 Postpaid Prepaid Blended Postpaid 0% Postpaid -8% Prepaid +4% Prepaid -15% Blended +2% Blended -6% 403 382 401 365 373 400 373 371 Minutes 186 177 175 178 186 174 200 168 131 122 135 111 115 119 115 0 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 10
Slide 11: Non Voice Revenue
NON VOICE REVENUE ● Non voice revenue accounted for 33% of mobile revenue Non Voice Revenue 2,000 Non Voice Revenue as % of Mobile Revenue Non SMS Revenue as % of Non Voice Revenue 50.0% 43.6% 41.2% 41.0% 1,500 37.6% 38.0% 40.0% RM m 34.0% 31.5% 33.0% 30.0% 1,000 31.4% 31.7% 30.5% 30.7% 29.3% 28.5%
Slide 12: Financial Highlights
SY Maxis. FINANCIAL HIGHLIGHTS
Slide 13: Revenue
REVENUE ● Revenue growth on the back of strong increase in subscribers Revenue +2% +3% 8,000 +2% 6,187 6,400 6,000 RM m 4,000 2,119 2,263 2,128 2,116 2,156 2,000 0 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 13
Slide 14: Revenue Breakdown
REVENUE BREAKDOWN Revenue Breakdown by Segments 2,119 2,263 2,128 2,116 2,156 6,187 6,400 143 141 6,000 254 328 Fixed International Gateway 4,000 RM mn Mobile 5,792 5,929 45 59 45 59 40 2,000 99 126 130 95 103 1,975 2,078 1,954 1,962 2,013 0 Q308 Q408 Q109 Q209 Q309 YTD08 YTD09 14
Slide 15: EBITDA
EBITDA ● EBITDA margin above 50% maintained EBITDA and EBITDA margin -1% +3% 4,000 80% Margin +1% 3,258 3,231 49.8% 50.6% 50.4% 50.7% 50.4% 52.7% 50.5% 3,000 60% RM m 2,000 40% 1,055 1,144 1,072 1,073 1,086 1,000 20% 0 0% 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 15
Slide 16: PAT
PAT ● Profitable growth continues PAT and PAT margin +28% +1% 2,500 60% +4% Margin 1,740 1,756 2,000 29.2% 28.1% 28.5% 28.1% 27.4% 40% 1,500 25.7% RM m 22.6% 1,000 660 547 594 615 20% 480 500 0 0% 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 16
Slide 17: Operating Expense
OPERATING EXPENSE ● Cost structure remains stable Operating Expense Breakdown As a % of revenue 1Q09 2Q09 3Q09 Direct Expenses 33.1% 31.9% 32.4% Sales and Marketing 4.0% 4.1% 3.8% Staff-Related Cost 4.8% 4.7% 4.4% Bad Debts 1.5% 2.1% 2.1% G&A and Others 6.2% 6.5% 6.9% Total Expenses 49.6% 49.3% 49.6
Slide 18: Capex
CAPEX Capex 800 648 600 451 RM m 400 351 291 199 200 159 158 0 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 EBITDA - Capex 4,000 2,907 3,000 2,599 RM m 2,000 894 914 874 795 1,000 693 0 3Q08 4Q08 1Q09 2Q09 3Q09 YTD 08 YTD 09 18
Slide 19: Dividend
DIVIDEND ● Interim dividend of 6.0 sen single-tier tax exempt dividend per share in respect of FY2009 ● Represents 73% of 3Q09 EPS of 8.2 sen 19
Slide 20: Disclaimers
DISCLAIMERS This presentation by Maxis Berhad (“Maxis”) contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan