Emirates Integrated Telecommunications Company Pjsc · DFM:DU
Emirates Integrated Telecommunications Company Pjsc — Q1 2013 Earnings Presentation
22 slides from Emirates Integrated Telecommunications Company Pjsc's earnings presentation, May 2013
Slide 1: Q1 2013 Results
Q1 2013 Results Emirates Integrated Telecommunications Company PJSC May 2013
Slide 2: Disclaimer
Disclaimer • Emirates Integrated Telecommunications Company PJSC (hereafter ”du”) is a telecommunication services provider in the UAE. • du cautions investors that certain statements contained within this document state management’s intentions, hopes, beliefs, expectations or predictions of the futu
Slide 3: Contents
Contents Slide Highlights of the Q1 2013 Results 4 Market Information 6 Financial Summary 8 Strategy and Outlook 20 3
Slide 4: Q1 Financial Highlights
Q1 Financial Highlights Solid performance across all key metrics Total Revenue EBITDA Net Profit before Free Cash Flow Mobile Customers (AEDm) (AEDm) (AEDm) Royalty (AEDm) Net Additions (000s) +10.73% +13.92% +12.86% 752 +77.86% 321 -43.15% 544 2,626 1,053 306 182 2,372 925 666 Q1 2012 Q1 2013 Q1 20
Slide 5: Contents
Contents Slide Highlights of the Q1 2013 Results 4 Market Information 6 Financial Summary 8 Strategy and Outlook 20 5
Slide 6: UAE Market overview
Market overview Strong market share – increasing emphasis on growing revenue share UAE Mobile Subscribers - Market share quarterly evolution UAE Telecom Market - Revenue share quarterly evolution 70% 80% 60% 70% 69.9% 51.9% 60% 50% Etisalat 48.1% 50% 40% du 40% 30% * Etisalat 30% 30.1% 20% 20% du 10
Slide 7: Contents
Contents Slide Highlights of the Q1 2013 Results 4 Market Information 6 Financial Summary 8 Strategy and Outlook 20 7
Slide 8: Revenues
Revenues Growth supported by strong additions across all customer segments Quarterly Total Revenue (AEDm) Revenue Year on Year Change (AEDm) 2,649 2,626 2,626 +10.73% 2,372 -5 47 6 206 2,447 2,372 2,374 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q1 2012 Mobile Fixed Wholesale Broadcasting Q1 2013 Year
Slide 9: Revenue Drivers - Mobile
Revenue Drivers - Mobile Continued increase in data as a proportion of mobile revenues Quarterly Mobile Revenues (AEDm) Year to Date Mobile Revenue (AEDm) 2,092 +115.82% 7,632 +11.13% 2,057 6,541 5,058 1,851 1,866 3,536 1,823 1,851 2,057 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 FY 2009 FY 2010 FY 201
Slide 10: Revenue Drivers – Mobile
Revenue Drivers – Mobile YoY Contribution to growth in mobile revenues Mobile Minutes of Use (AED) 655 635 627 594 605 Postpaid Prepaid 270 271 257 273 254 46.78% 53.22% 240 240 228 242 223 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Total Minutes of Use Prepaid Postpaid Postpaid segment positively impa
Slide 11: Revenue Drivers – Fixed
Revenue Drivers – Fixed Stable performance in the fixed line quarterly revenue Quarterly Fixed Revenue (AEDm) Fixed Year line to subscription Date Fixed Subscribers ('000s) +56.80% 405 561 572 403 404 +1.99% 531 545 477 399 357 391 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 FY 2009 FY 2010 FY 2011 FY 2
Slide 12: Revenue Drivers – Wholesale & Broadcasting
Revenue Drivers – Wholesale & Broadcasting Revenue Quarterly - Wholesale Broadcasting Revenue (AEDm) Quarterly Wholesale Revenue (AEDm) +15.69% 46 +60.06% 136 45 123 126 43 100 50 43 41 78 45 39 57 47 32 43 86 78 83 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Inte
Slide 13: Royalty Overview
Royalty Overview Quarterly Royalties (AEDm) Quarterly Net Profit after Royalty (AEDm) 994 333 326 327 284 284 609 244 465 468 468 202 198 201 453 453 333 326 327 Q1 2012 Q2 2012 Q3 2012 Q42012 Q1 2013 Old Net Profit after Royalty New Net Profit after Royalty (142) Q1 2012 Q2 2012 Q3 2012 Q42012 Q1 2
Slide 14: Gross Margin
Gross Margin Gross margin increase year on year Quarterly Gross Margin (AEDm) Year to Date Gross Margin (AEDm) 1,850 7,000 6,897 80.00% +3.43% 1,821 74.0% +96.65% 5,901 6,000 71.40% 75.00% 1,800 72.0% 70.52% * 71.40% 69.85% 5,000 70.08% 4,600 69.11% 68.73% 1,752 70.0% 68.14% 70.00% 1,750 66.69% 4,00
Slide 15: Gross Margin by Segment (quarterly)
Gross Margin by Segment (quarterly) Quarterly Mobile Gross Margin before Handset Subsidy (AEDm) Quarterly Fixed Gross Margin (AEDm) +5.86% -0.10% 1,500 1,486 79.0% 325 322 85.0% 321 1,454 78.0% 80.31% 1,450 320 80.0% 76.01% 77.0% 75.99% 76.84% 79.40% 79.89% 314 74.75% 76.0% 315 1,400 1,386 75.0% 1,3
Slide 16: Overheads
Overheads Efficiency programme is driving cost control Overheads Quarterly Overheads (AEDm) Overheads as a % of Revenue Q1 2012 Q1 2013 -9.20% Manpower 15.09% 12.06% 780 769 40.0% 760 752 38.0% Teleco license & related fees 2.66% 2.70% 733 740 36.0% 720 32.42% 34.0% Sales & marketing 3.50% 2.44% 30.
Slide 17: Profitability
Profitability Stable performance in both EBITDA and Net Profit before Royalty Quarterly EBITDA (AEDm) Quarterly Net Profit before Royalty (AEDm) +12.86% +13.92% 852 1,400 50.0% 900 50.0% 1,176 48.0% 800 752 45.0% 1,200 1,053 46.0% 700 666 651 654 40.0% 925 941 957 1,000 44.0% 35.0% 600 44.38% 42.0%
Slide 18: Capital Investments
Capital Investments Maintained spend Quarterly CapEx Additions (AEDm) Year to Date CapEx Additions (AEDm) 3,000 60.0% 622 2,427 50.0% 2,500 40.0% 444 2,000 47.15% 1,720 368 30.0% 335 318 1,500 1,291 1,244 14.13% 13.99% 20.0% 1,000 18.26% 17.48% 15.11% 10.0% 500 335 368 0.0% 0 -10.0% Q1 2012 Q2 2012
Slide 19: Cash & Debt overview
Cash & Debt overview Healthy levels of free cash flow Quarterly Free Cash Flow (AEDm) Year to Date Free Cashflow (AEDm) 1,200 544 600 4,000 1,748 2,000 507 521 1,000 1,377 500 3,000 1,500 800 414 600 400 2,000 1,000 306 544 400 306 300 1,000 36 500 200 603 721 819 875 1,001 973 1,587 2,923 3,018 1,0
Slide 20: Strategy and Outlook
Strategy and Outlook Efficiency and value creation: Positioning the company for success in a continually evolving telecommunications market • Focus on profitable growth and increased value share • Maximise return on investments and cash flow generation for our shareholders • Continue a progressive d
Slide 21: dll Lay Listig
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