Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q4 2019 Earnings Presentation
18 slides from Taiwan Mobile's earnings presentation, Mar 5, 2020
Slide 1: Taiwan Mobile Co., Ltd. 4Q19 Results Summary
Taiwan Mobile Co., Ltd. 4Q19 Results Summary March 5, 2020 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
1) S535 XS X | Business Overview
Slide 4: 4Q19 Operational Highlights
4Q19 Operational Highlights Telecom EBIT YoY Blue Ocean momo continued to turned positive Initiatives widen its lead 101% Achievement Ratio of FY19 Net Income 4
Slide 5: Versatility
Versatility 4Q19 results +NT$106 YoY Mobile & Fiber Double Play handset bundle plan (好速成双) tariff of new sign-ups Monthly Tariff NT$799 NT$999 NT$1,399 Mobile Data Unlimited with no speed cap +25% YoY Service IoT connections Broadband 60Mbps 120Mbps 500Mbps/1Gbps Speed All plans - 1.Free myVideo sub
Slide 6: Resilience in Pay-TV Business
Resilience in Pay-TV Business 4Q19 Basic TV Subscribers 4Q19 Penetration Rate DTV Broadband (‘000) Subscribers YoY(%) 50.8% TFNM 554 -2.1% 46.8% 43.3% 43.5% Kbro 1,132 -2.7% 28.1% 29.4% 32.5% CNS 1,120 -3.1% 12.7% TBC 729 -2.9% DTV BB Top 4 MSO 3,535 -2.8% TFNM Kbro CNS TBC Pre-IFRS 16 D&A EBIT (NT$
Slide 7: momo’s Dominance in B2C Market
momo’s Dominance in B2C Market E-commerce platform net income comparison (NT$mn) 975 1~3Q18 1~3Q19 2661 424 344 325 290 775 129 45 35 40 1~3Q18 1~3Q19 (160) (90) (281) (620) momo EHS Books.com. KuoBrothers friday Ruten PChome PCstore (984) Co., Ltd. (1,914) Note1: one-time tax credit Note2: 4Q19 fin
Slide 8: Financial Overview
1) ABsSXKSX | Financial Overview
Slide 9: Performance by Business
Performance by Business Revenue Pre-IFRS16 EBITDA NT$bn Telecom CATV momo Total1 Telecom CATV momo Total1 4Q19 17.26 1.48 15.91 34.11 5.86 0.69 0.62 7.27 % of 51% 4% 47% 100% 81% 10% 8% 100% total 4Q19 -1% -6% 28% 8% -5% -11% 14% -5% YoY 4Q19 YoY (Reported) 8% 2019 67.38 6.09 51.83 124.42 24.05 3.02
Slide 10: Results Summary
Results Summary 4Q19 2019 NT$bn % of full % of 4Q Amount YoY Amount YoY year guidance guidance Revenues 34.11 8% 100% 124.42 5% 100% Operating Costs (25.75) 11% 102% (91.61) 9% 101% Operating Expenses (4.00) -3% 94% (15.62) -4% 93% Operating Income 4.36 2% 95% 17.19 -5% 101% Non-op. Income (0.35) 23
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 4Q19 3Q19 4Q18 NT$bn 4Q19 3Q19 4Q18 Total Assets 153.92 158.83 147.67 Liabilities 79.74 89.43 79.67 Current Assets 29.91 34.23 29.07 Current Liabilities 44.52 52.66 41.88 - Cash & Cash Equivalents 8.66 13.02 7.50 - ST Debts 18.47 21.67 18.57 - Receivable & Contract Asset
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 4Q19 3Q19 4Q18 2019 2018 Operating 2.88 11.83 7.31 30.22 29.78 Investing (2.88) (2.03) (2.01) (8.37) (5.53) Financing (4.36) (3.54) (3.74) (20.67) (23.38) NT$bn 4Q19 3Q19 4Q18 2019 2018 Pre-IFRS 16 Operating1 1.90 10.83 7.31 26.33 29.78 Cash CAPEX2 (1.62) (2.12) (1.87) (7.14
Slide 13: 2020 Guidance & Event Updates
2020 Guidance & Event Updates 13
Slide 14: 2020 Guidance
2020 Guidance NT$bn 2020F 2019A YoY Revenues 134.53 124.42 8% EBITDA 31.67 33.39 -5% D&A (15.89) (16.20) -2% Operating Income 15.78 17.19 -8% Non-op. (Expense) (0.98) (0.61) 61% Pre-tax Income 14.79 16.58 -11% Net Income 11.17 12.48 -11% EPS1 (NT$) 3.96 4.51 -12% NT$bn 2020F 2019A YoY Total Capex 14
Slide 15: Event Updates
Event Updates 5G Spectrum Auction Results The 5G spectrum auction was completed on Feb 21st, with TWM obtaining 60MHz in the 3.5GHz frequency band and 200MHz in the 28GHz frequency band. Total spectrum cost came to NT$30.66bn. T Star FET CHT TWM 3500MHz NT$19.71bn NT$42.63bn NT$47.76bn NT$30.45bn TD
Slide 16: Awards and Recognition
Awards and Recognition Won ten awards at the 2019 Taiwan Corporate Sustainability Awards, and was the only five-time winner to receive the “The Most Prestigious Sustainability Awards-Top Ten Domestic Corporates” among telecom firms in Taiwan. Recognized for the “Best Customer Service Team” and “Best
Slide 17: Key Message
Key Message Taiwan Mobile will be the only telco among the big three in Taiwan to be able to have partnerships on 5G network/spectrum sharing and create incremental benefits. 60MHz of spectrum in the 3.5GHz frequency band is sufficient for Taiwan Mobile’s 5G business in the next ten years. In due co
Slide 18: Q&A
Q&A 18