Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q4 2011 Earnings Presentation
18 slides from Taiwan Mobile's earnings presentation, Jan 19, 2012
Slide 1: Taiwan Mobile Co., Ltd. 4Q11 Results Summary
Taiwan Mobile Co., Ltd. 4Q11 Results Summary January 19, 2012 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. (the “Company”) undertakes no obligation to update or revise the
Slide 3: Business Overview
BARK Business Overview
Slide 4: Robust Wireless Data Growth
Robust Wireless Data Growth Mobile Service Revenue YoY Change in 4Q11 Data Business – 4Q11 Data NT$: bn CHT FET TWM Data revenue 4.01 3.59 3.61 $1,104mn % of service 22.7% 24.6% 25.3% revenue Data revenue YoY 31% 44% 44% F2M pricing change growth $575mn mandatory tariff cut Voice 4
Slide 5: Our Smartphone Strategy
Our Smartphone Strategy 2011 Contribution comparison 4Q11 new products introduced HTC SAM Galaxy Moto RAZR SAM Sensation Nexus Galaxy Note XE/XL Smartphone as % of total handsets sold iPhone 4S HTC Titan BB Torch 9860 BB Bold 9900 5
Slide 6: CATV Growth Catalysts
CATV Growth Catalysts Sub no. Basic TV 4Q11 YoY ARPU Cable internet Digital TV Subscription growth Subscription 575K subs 155K subs 46K subs Analogue TV 2% 504 Cable internet Cable internet 13% 536 New adds speed mix DTV 77% 150 Blended 751, +2% YoY ARPU 6
Slide 7: New Product & Service
New Product & Service Exclusively introduced Google phone - Galaxy Nexus and Moto RAZR in 4Q11, and provided the latest smartphone models such as iPhone 4S, HTC Titan, Sensation XL/XE, Samsung Galaxy Note, BB Torch 9860 and Bold 9900 to customers. Extended the mobile e-book service platform, “myBook
Slide 8: Financial Overview
BARK Financial Overview
Slide 9: Result Summary
Result Summary Unit: NT$m 2011 % of 4Q11 4Q10 YoY Actual Full Year Operating revenue 23,443 17,900 31% 81,369 110% Operating cost (14,816) (10,333) 43% (48,655) 112% Marketing expense (3,166) (2,344) 35% (10,788) 114% G&A expense (1,231) (1,132) 9% (4,335) 92% Operating income 4,230 4,092 3% 17,590
Slide 10: Divisional Performance
Divisional Performance Revenue EBITDA NT$bn momo momo CBG HBG EBG & Total CBG HBG EBG & Total Others Others 4Q11 15.13 1.49 2.56 4.26 23.44 4.89 0.75 0.70 0.30 6.64 % of 65% 6% 11% 18% 100% 74% 11% 11% 4% 100% Total QoQ 4% -1% 2% NM 8% -15% -3% -16% 39% -12% YoY 8% 2% 5% NM 31% -3% 4% 14% NM 4% 10
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 4Q11 3Q11 4Q10 4Q11 3Q11 4Q10 Total Assets 91.79 93.22 85.48 Liabilities 41.73 46.56 34.58 Current Assets 18.13 18.85 15.24 Current Liabilities 36.35 37.20 23.23 - Cash & Cash Equivalents 6.69 7.72 6.05 - ST Debts 13.90 14.30 3.70 - Available-for-Sale Financial 0.22 0.22
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 4Q11 3Q11 4Q10 2011 2010 Operating Cash Flow 7.85 5.59 7.63 25.26 25.99 Investing Cash Flow (1.50) (10.91) (1.52) (15.44) (6.32) Financing Cash Flow (7.39) 0.84 (2.80) (11.50) (16.63) NT$bn 4Q11 3Q11 4Q10 2011 2010 Cash CAPEX (1.46) (2.22) (1.40) (6.42) (6.20) Free Cash Flow
Slide 13: 2012 Forecast
2012 Forecast NT$bn 2012 2011 YoY Revenue 101.83 81.37 25% Cash Cost1 56.62 40.07 41% SG&A 17.69 15.12 17% EBITDA 28.56 27.09 5% EBITDA Margin 28.04% 33.29% -5.25ppts Operating Income 18.59 17.59 6% Non-op. Income (0.78) (1.46) -47% Net Income 14.36 13.47 7% EPS (NT$)2 5.34 4.70 14% 1. Including han
Slide 14: Event Update & Key Message
SABA Event Update & Key Message
Slide 15: Event Update
Event Update 2012 Capex Guidance The board has approved 2012 capex of NT$10.8bn, including NT$5.8bn for mobile, NT$4.1bn for fixed-line, NT$0.7bn for CATV, and the balance for other subsidiaries. Regulatory Update In December, 2011, the Legislative Yuan approved revisions to the Company Act to allow
Slide 16: Event Update – Continued
Event Update – Continued Award & Recognition – The Chairman of Taiwan Mobile, Richard Tsai, received the “Asia Innovator of the Year Award” from CNBC. – TWM received the “CG6006 Certification” from the Corporate Governance Association. – TWM’s efforts in corporate governance have been included in “T
Slide 17: Key Message
Key Message In line with our expectations, we have achieved our 2011 target. For 2012, in addition to exceeding consumer expectations with unparalleled communication products & application services in a digital convergence world, TWM will also expedite smart device penetration to maintain growth mom
Slide 18: Q&A
Q&A 18