Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q3 2024 Earnings Presentation
19 slides from Taiwan Mobile's earnings presentation, Nov 19, 2024
Slide 1: Taiwan Mobile Co., Ltd. 3Q24 Results Summary
Taiwan Mobile Co., Ltd. 3Q24 Results Summary Nov 19, 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: 3Q24 Highlights
3Q24 Highlights Solid Growth in Mobile and Broadband Mobile Service Revenue Broadband Revenue +26% YoY* +18% YoY Consolidated EBITDA +20% YoY Consolidated Operating Income +20% YoY & 8-year high! *YoY comparison reflects T Star’s contribution as the merger took place on Dec 1, 2023. 4
Slide 5: Merger Synergies Ahead of Schedule
Merger Synergies Ahead of Schedule FY24 Guidance +11~13% YoY Consolidated EBITDA 1~3Q24 Actual +20% YoY Accumulated EBIT from T Star Lease Payment (ex-momo) (Unaudited) NT$bn Base station 1.3 consolidation 0 1.1 0.9 0.9 Accumulated Pre-tax Income from T Star (Unaudited) 0 3Q23 4Q23 1Q24 2Q24 3Q24 Pr
Slide 6: Mobile – Growth Engine #1
Mobile – Growth Engine #1 3Q24 results Smartphone ARPU Mobile Service Revenue Monthly fee uplift (non-bundle) from renewals NT$16.30 bn TWM +6% Alone YoY +49% 715 4G to 5G 700 4G 655 666 653 63% 5G Overall +8% 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 3Q24 5G Penetration of Smartphone U
Slide 7: Broadband – Growth Engine #2
Broadband – Growth Engine #2 Cable Broadband Subscriber 3Q24 Penetration Rate (TFNM+Double Play) YoY 73.4% 59.7% 63.8% ≥300Mbps +42% 52.8% <300Mbps Top 4 Top 4 TFNM MSO TFNM MSO 3Q23 3Q24 DTV Broadband Source: Market intelligence Broadband Revenue CATV EBITDA (NT$mn) (NT$mn) 793 594 YoY YoY +18% +7%
Slide 8: momo
momo Revenue EBITDA (NT$mn) (NT$mn) YoY YoY 25,075 25,553 +2% -5% 1,221 1,154 3Q23 3Q24 3Q23 3Q24 Active Users 15.0% EBITDA Margin 10.0% +10% 5.0% 4.9% 4.5% YoY 0.0% 3Q24 3Q23 3Q24 -5.0% 8
Slide 9: Financial Overview
Financial Overview 9
Slide 10: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 3Q24 20.99 25.55 1.48 47.20 8.41 1.15 0.79 10.52 % of 44% 54% 3% 100% 80% 11% 8% 100% total 3Q24 22% 2% -5% 9% 26% -5% 7% 20% YoY 2Q24 25% 2% -6% 10% 24% -2% 4% 19% YoY 1. The sum of each account of teleco
Slide 11: Results Summary
Results Summary 3Q24 1~3Q24 NT$bn Amount QoQ YoY Amount YoY Revenues 47.20 -1% 9% 143.22 10% Cash Cost & Expense (36.68) -1% 7% (111.53) 8% Operating Income 5.18 5% 20% 14.78 13% Non-op. Income (Exp.) 0.50 nm nm (0.22) -58% Pre-tax Income 5.68 25% 37% 14.56 16% Net Income 4.16 29% 42% 10.36 19% EPS
Slide 12: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 3Q24 2Q24 3Q23 NT$bn 3Q24 2Q24 3Q23 Total Assets 237.47 240.52 187.56 Liabilities 147.89 154.88 118.97 Current Assets 40.12 44.71 37.95 Current Liabilities 85.07 96.84 60.56 - Cash & Cash Equivalents 9.48 15.24 11.02 - ST Debts 46.78 42.81 27.02 - Receivable & Contract A
Slide 13: Cash Flow Analysis
Cash Flow Analysis NT$bn 3Q24 2Q24 3Q23 Operating 8.41 8.43 7.85 Investing (6.63) (3.16) (2.91) Financing (7.54) (3.99) (4.99) NT$bn 3Q24 2Q24 3Q23 Pre-IFRS 16 Operating1 7.23 7.11 6.78 Cash CAPEX (3.81) (2.63) (2.17) Free Cash Flow 3.42 4.49 4.61 1. “Lease expenses” previously under operating activ
Slide 14: Event Updates
Event Updates 14
Slide 15: Awards and ESG Recognitions
Awards and ESG Recognitions as we continue to be recognized for our commitment to best ESG practices 2024 DWP Global Summit Published Task Force on Nature- Digital with Purpose Smart Cities Related Financial Disclosures Report Award - My Charge 1st TNFD Report of Taiwan Telcos 2024 Commonwealth Exce
Slide 16: Key Message
Key Message Taiwan Mobile has executed effectively and delivered outsized merger synergies ahead of schedule. Looking ahead, we aim to strengthen our Sustainable Growth Foundation in the core telco business, focusing on long-term organic ARPU lift and churn reduction. Building on this foundation, we
Slide 17: SIBASAK Taiwan Mobile
SIBASAK Taiwan Mobile
Slide 18: Appendix: Strategic Investment in Systex
Appendix: Strategic Investment in Systex • The Board approved the acquisition of common shares in Systex Corporation (6214 TT) via block trade on 2024/09/12. The transaction was completed on 2024/09/13. • Taiwan Mobile acquired an 11.86% stake (32,298,154 shares) in Systex at NT$123 per share, with
Slide 19: 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