Emirates Integrated Telecommunications Company Pjsc · DFM:DU
Emirates Integrated Telecommunications Company Pjsc — Q1 2021 Earnings Presentation
12 slides from Emirates Integrated Telecommunications Company Pjsc's earnings presentation
Slide 1: Q1 2021 Results
Q1 2021 Results Emirates Integrated Telecommunications Company PJSC Emirates Integrated Telecommunications Company PJSC
Slide 2: Disclaimer
Disclaimer This document has been prepared by Emirates Integrated Telecommunications Company PJSC (the “Company”) solely for presentation purposes. The information contained in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, a
Slide 3: Signs of macro environment recovery coming through but still several uncertainties
Signs of macro environment recovery coming through but still several uncertainties The economy is pursuing its recovery trajectory • The UAE has administered over 10m vaccine doses • Meetings, Incentives, Conferencing, Exhibitions events are returning to Dubai • Increased mobility … However, there i
Slide 4: Operational highlights and transformation plans
Operational highlights and transformation plans • Operational highlights • Acceleration of broadband net-adds • Continuation of our ambitious 5G deployment • iPhone 12 are selling-through our retail and online channels • Transformation plans undergoing steady progress • New operating model launched
Slide 5: Revenues: sequential growth driven mainly by fixed and wholesale revenues
Revenues: sequential growth of driven mainly by fixed and wholesale revenues AED million -105 (-3.5%) +19 (+0.7%) +143 +52 (+5.2%) (+1.9%) 2,988 2,883 2,668 2,688 2,740 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Emirates Integrated Telecommunications Company PJSC 5
Slide 6: Mobile: commercial performance improving and revenues stabilised
Mobile: commercial performance improving and revenues stabilised Mobile customer base(1) -656 (-8.8%) • Customer base +126 (+1.9%) • YoY decline is due to a base effect. Covid-19 had little impact in Q1’20 7,440 6,784 • QoQ growth shows further improvements in mobility and improved 6,418 6,594 6,658
Slide 7: Fixed: resilient and consistent performance
Fixed: resilient and consistent performance Fixed customer base(1) +24 (+10.7%) • Net-adds (+13k) represents a new quarterly record +13 • Revenues continues to grow and reached an all-time high (+5.4%) 236 248 224 226 228 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Revenues (AED million) +22 (+3.4%) +18
Slide 8: Other revenues: growth driven by improving macro
Other revenues (1): growth driven by improving macro AED Millions • Wholesale revenue visibility improving • Interconnect revenue stream is returning • Visitor roaming is increasing • Strong demand for the iPhone 12 fuel handset sales (AED million) +64 (+7.6%) +129 (+16.5%) 908 844 779 718 720 Q1 20
Slide 9: EBITDA: at an inflection point
EBITDA: at an inflection point • Product costs: increase due to higher handset sales • Marketing costs: adjusting the way we spend • Network operations and maintenance costs: structural increase related to our capital deployment plan (AED million) -146 • Outsourcing & contracting: one-off impact fro
Slide 10: Net profit
Net profit AED Millions • Lower EBITDA (AED million) • Depreciation and amortization charges increase due to higher capex -98 (-27.6%) • Net finance costs: lower interest income on lower liquidity 824 519 355 +72 (+38.7%) 257 215 48 305 11.9% 185 8.1% 8.9% 11.4% -137 1.8% Q1 2020 Q2 2020 Q3 2020 Q4
Slide 11: We remain cash generative despite ambitious capital deployment plans
We remain cash generative despite ambitious capital deployment plans • Capital spend on coverage, capacity and new technology • Despite COVID-19 restrictions, we generated AED 552 million in Operating free cash flow (EBITDA – Capex) Capex (AED million) Operating free cash flow (AED million) -42.3% 5
Slide 12: Outlook
Outlook • Global vaccination campaign may help ease local and international mobility restrictions • New way of working highlights small and large businesses’ ICT requirements • Monetising our infrastructure investments • Focus on operational efficiencies to improve profitability Emirates Integrated
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