Slide 1: Form 6-K
FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Section 13a-6 or 15d-16 of the Securities Exchange Act of 1934 For the month of: May 2003 001-31609 (Commission File Number) Telkom SA Limited (Translation of registrant’s na
Slide 2: Exhibit descriptions
On May 19, 2003, Telkom SA Limited (“Telkom”) issued a press release announcing that it had entered into a long-term collective agreement on substantive matters with Solidarity, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. On May 14, 2003, Telkom execut
Slide 3: Exhibit list
99.3 Press release, dated May 22, 2003, issued by Telkom, announcing that its executives would be presenting at the Deutsche Bank technology workshop in South Africa on May 22 and 23, 2003 99.4 Slide presentation prepared by Telkom for Deutsche Bank technology workshop in South Africa on May 22 and
Slide 4: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TELKOM SA LIMITED By: /s/ Sizwe Nxasana Name: Sizwe Nxasana Title: Chief Executive Officer Date: July 3,
Slide 5: Exhibit 99.1
EXHIBIT 99.1
Slide 6: Telkom and Solidarity enter into long-term collective agreement
Media Release 19 May 2003 Telkom and Solidarity enter into long-term collective agreement on substantive matters Telkom and Solidarity, a member of the Alliance of Telkom Unions (ATU), on Friday (16 May 2003) signed a long- term collective agreement on substantive matters that will see its members r
Slide 7: Exhibit 99.2
EXHIBIT 99.2
Slide 8: Telkom SA Limited: Delivering on strategy
Telkom SA Limited Shawn Mckenzie, COO Delivering on strategy May 2003
Slide 9: Forward-looking safe harbour
Forward-looking safe harbour All statements contained herein, as well as oral statements that may be made by the Telkom SA Limited or by officers, director or employees acting on behalf of the Telkom Group that are not statements of historical fact constitute “forward-looking statements”. Such forwa
Slide 10: Group overview
Group overview
Slide 11: Telkom at a glance
Telkom at a glance Telkom SA Limited shareholding Group structure Fixed-line Mobile Freefloat: 27.7% Government: 39.3% Telkom Vodacom 50% Ucingo: 3% 64.9% Telkom Directory Services Thintana: 30% 100% Swiftnet 4
Slide 12: Group financial highlights
Group financial highlights March 2002. In ZAR millions % change since previous year Revenue 34,197 9% EBITDA 9,621 (4%) EBIT 4,213 (15%) Net income 1,221 (25%) Net debt 21,858 1.2% Capex 9,004 (9%) 5
Slide 13: Group operational highlights
Group operational highlights September 2002 % change since previous year Fixed-line – Telkom SA Limited Fixed lines (000s) 4,895 (2%) Digilisation (%) 99.8 - Fixed-line employees1 38,009 (10%) 2 Mobile – 100% Vodacom Mobile customers3 (000s) 7,670 32% SA Mobile market share (%) 59 - SA ARPU (ZAR) 18
Slide 14: Investment highlights
Investment highlights • The leading communications service provider in South Africa • Well placed to increase efficiencies, profitability and cash flows, reduce capex, reduce indebtedness and reinstate dividend payments • Strong growth in mobile business through Vodacom, the leading SA mobile operat
Slide 15: Group strategy
Group strategy
Slide 16: To be a world-class communications Group
To be a world-class communications Group Increase Increase profitability and cash flows, shareholder value reduce indebtedness, reinstate dividend payments Maintain market Position the Group for competition leadership positions • Compete effectively and grow selected markets • Enhance operational an
Slide 17: Maintaining and driving the top line
Maintaining and driving the top line Compete Efficient Integrate Performance Mobile Compete effectively in our core markets and grow selected markets Improve customer service Market new services to our existing clients Promote increased network usage Manage the regulatory environment 10
Slide 18: Protecting our core revenues
Protecting our core revenues African hubbing Real price reductions SNO services Volume discounts New mobile interconnect Prepaid growth Tariffs rebalanced Long-term contracts Value-added services Price promotions Value-added products Tariffs rebalanced Cable investments Call packages 7,323 4,876 4,4
Slide 19: Customer service remains top priority
Customer service remains top priority Mean time to install Mean time to install ISDN Mean time to repair residential voice improved improved by 77% to 20 business voice improved by by 67% to 7 days days 58% to 11 hours 88 21 26 11 7 20 2000 2002 2000 2002 2000 2002 Year ended March 31, 2000 and six
Slide 20: Increasing customer loyalty
Increasing customer loyalty Increasing penetration of value-added services Call answer Forward call Locking customers into long-term contracts Call waiting MyRing Introducing new products 13
Slide 21: Keeping prices competitive
Keeping prices competitive Tariff rebalancing completed over last 5 years in Local and long distance calls are the preparation for competition. Ratio of local call prices cheapest in the South African market to long distance now in line with best practice Standard Callmore 13.2 time time Local 1 R0.
Slide 22: Increasing network usage
Increasing network usage Telkom carries all mobile traffic, therefore the significant Increasing network usage through a targeted growth in SA mobile customers has seen excellent deployment of fixed-line prepaid where we growth in Telkom’s mobile lease facilities revenue have existing unutilised cap
Slide 23: Achieving operational excellence
Achieving operational excellence Compete Efficient Integrate Performance Mobile Reduce operating expenses and enhance capital investment efficiencies Reduce employee expenses Reduce bad debts and maintenance costs Increase savings from outsourcing contracts Implement disciplined capital investment 1
Slide 24: Streamlining the company
Streamlining the company Fixed-line employee numbers1 Employee losses over last 3.5 years Restructured into customer facing organisation and Natural attrition: 34% 61,237 Early retirement: 19% 56,840 reskilled employees 49,128 43,758 39,444 38,009 Outsourcing: 12% Voluntary severance: 28% Involuntar
Slide 25: Managing outsourcing contracts
Managing outsourcing contracts Reduce vehicle fleet by 21% Contained property to 15,133 management costs 19,094 534 515 15,133 2000 Sep-02 Sep-01 Sep-02 Year ended March 31, 2000 and six months ended September 2002. Six months ended September. ZAR million 18
Slide 26: Strict capital discipline
Strict capital discipline Fixed-line capex to sales Forecast OSS capex spend Fixed-line approved budget of R4.9bn for year ended March 2003 Workforce: 18% Assurance: 18% 8,468 8,297 36% 31% 6,962 25% 10% Customer care: 34% Provisioning/Fulfilment: 30% 1,487 2000 2001 2002 Sep-02 A five to six year e
Slide 27: Seizing new market opportunities
Seizing new market opportunities Compete Efficient Integrate Performance Mobile Expanding our integrated service offerings and developing new fixed-mobile products Increasing penetration of data services Develop new innovative data products Develop new fixed-mobile products Increase operational syne
Slide 28: Data growth providing support
Data growth providing support Data revenue (Rm) Number of managed network sites Strong growth driven by leased line volumes and increased penetration of value-added services Ç Ç 16.7% 17.6% Ç 6,636 Ç 22.7% 3,913 20.4% Ç 5,684 3,328 47.7% Ç 4,634 2,764 12.3% 2,112 3,138 2000 2001 2002 Sep-02 2000 200
Slide 29: Moving closer to mobile
Moving closer to mobile Rationale for Vodacom synergies To leverage both companies strengths in the market To ensure optimum geographic coverage of retail synergies To eliminate channel conflict in business and corporate segments To avoid duplication of resources To benefit from converging fixed-mob
Slide 30: Creating a culture of service and savings
Creating a culture of service and savings Compete Efficient Integrate Performance Mobile Foster a highly competitive culture, driving employee performance Implement training and skills retention programs Develop long-term relationships with unions Entrench a cost savings culture Entrench a competiti
Slide 31: Creating a cost conscious mindset
Creating a cost conscious mindset Employee suggestions A R500m targeted savings cost 9 Reduce staff telephone usage initiative across the company Savings driven by employee 9 Reduce overtime suggestions 9 Reduce contractors A sense of ownership 250 suggestions received, 111 9 Reduce paper consumptio
Slide 32: Benefiting from mobile growth
Benefiting from mobile growth Compete Efficient Integrate Performance Mobile Capitalise on the growing mobile communications market through Vodacom Continue mobile subscriber growth in South Africa Expand mobile business outside of South Africa Expand mobile data revenue products Achieve sustainable
Slide 33: Grow South African customer base
Grow South African customer base Vodacom South African customers (000s) Introduce new innovative voice products Vodacom estimates the total SA mobile market at peak penetration at 19 million or 45% penetration, current market size estimate is 14 million. 7,130 6,557 5,108 3,069 2000 2001 2002 Sep-02
Slide 34: Introduce new data products
Introduce new data products Vodacom revenue – 6 months Sep 2002 Data: 2.5% Voice: 97.5% Data revenue largely from SMSs, Vodacom SMS’s grew 80% in six months to September 2002 to 653 million compared to six months to September 2001 27
Slide 35: Expand mobile beyond South Africa
Expand mobile beyond South Africa Tanzania Other African revenue (ZARm)1 • Launched August 2000 • Market leader • Population 36.0m¹ • Customers at 30 Sep 2002 – 305,953 740 Democratic Republic of Congo • Official launch May 2002 • Network rollout started Dec 2001 • Population 52.5m¹ • Customers at 3
Slide 36: Vodacom delivering solid shareholder returns
Vodacom delivering solid shareholder returns Cash generated from operating activities (Rm) Return (EBIT) on net assets1 Ç Ç Ç 46.6% 32.7% 7.9% 6,188 34.0% 33.9% 32.4% 4,664 3,182 3,172 2,940 2000 2001 2002 Sep-01 Sep-02 2000 2001 2002 Year ended March 31. 100% of Vodacom Year ended March 31. 1. EBIT
Slide 37: Conclusion
Conclusion
Slide 38: Focused on delivering shareholder value
Focused on delivering shareholder value Margin expansion Capex reduction Free cash flows • Reduce debt • Grow earnings • Reinstate dividend 31
Slide 39: Investor Relations
Investor Relations telkomir@telkom.co.za Tel: +27 12 311 5720 Fax: +27 12 311 5721 Ticker - JSE: TKG, NYSE: TKG ADR ratio 1: 4
Slide 40: Exhibit 99.3
EXHIBIT 99.3
Slide 41: Telkom to map out network investment plans at Deutsche Bank workshop
22 May 2003 Telkom to map out network investment plans at Deutsche Bank workshop Telkom SA Limited (JSE and NYSE: TKG) executives will present on the Company's prior years fixed-line capital expenditure and future network investment strategy at the Deutsche Bank technology workshop that takes place
Slide 42: Exhibit 99.4
EXHIBIT 99.4
Slide 43: Telkom SA Limited: Deutsche Bank Technology Workshop
Telkom SA Limited Deutsche Bank Technology Workshop 22-23 May 2003
Slide 44: Forward-looking statements
Forward-looking statements All statements contained herein, as well as oral statements that may be made by Telkom SA Limited or by officers, directors or employees acting on behalf of the Telkom Group, that are not statements of historical fact constitute “forward-looking statements” within the mean
Slide 45: Five key focus areas
Five key focus areas • Redefining capital expenditure • Network strategy • Building for selected growth • Maintaining the network • Investment in operational support systems 3
Slide 46: Redefining capex
Redefining capex
Slide 47: A new view of fixed-line capex
A new view of fixed-line capex Reporting for licence obligations Management reporting Company support: 9% Network modernisation: 32% Company support: 7% Baseline: 40% OSS: 34% Cost savings: 25% Regulatory: 0% Line rollout: 25% Network evolution: 27% Revenue generation: 1% Year ended March 31, 2002.
Slide 48: Building and maintaining the core
Building and maintaining the core Baseline capital expenditure Definition In R millions contribution % Capex required to meet voice and data service requirements Known demand and costs – can be modelled Baseline: 2,728 40% based on history and trends Categories Voice – line build, ISDN, national cor
Slide 49: Baseline investment
Baseline investment Baseline capital expenditure In R millions Significant capex driven by line rollout and related customer premise equipment (CPE), mobile leased facilities and data leased lines 4,887 4,687 2,728 1,258 Current capex largely for data leased line growth, 689 mobile leased lines, lea
Slide 50: Evolving the network
Evolving the network Network evolution capital expenditure Definition In R millions contribution % Expenditure aimed at evolving the network and improving its resilience, redundancy and efficiency Upgrade, rehabilitate, modernise Categories Access line evolution Transmission Network evolution: 1,906
Slide 51: Network evolution investment
Network evolution investment Network evolution capital expenditure In R millions Driven by significant investment in evolving the transmission network – (Local transport network, National Transport network & ATM), WDM Evolving our data network to a packet network for IP 1,906 carrying capacity Evolv
Slide 52: Increasing operational efficiencies
Increasing operational efficiencies Cost savings capital expenditure Definition In R millions contribution % Expenditure aimed at reducing costs, improving effectiveness and allowing better Cost savings: 1,743 25% service Categories OSS (FlowThru and iCare) Network management IT business systems Man
Slide 53: Cost savings investment
Cost savings investment Cost savings capital expenditure In R millions Spend driven largely by Telcordia together with spend on network management and other core new IT systems 1,985 1,827 1,743 Spend driven by the deployment of Flexibill, OSS project spend, implementation of SAP and network managem
Slide 54: Capital management
Capital management Telkom has enhanced its capital management process to improve capital efficiency through • Strict capital budget approval process to ensure optimal capex allocation • Utilisation of existing infrastructure to drive down investment in new line growth • Utilisation of spare capacity
Slide 55: Network strategy
Network strategy
Slide 56: Basic network infrastructure
Basic network infrastructure DSSU DPSU Digital Secondary Switching Unit Digital Primary Switching Unit DLU Digital Line Unit Local National Access Network Transmission Transmission DSSU DLU DPSU DSSU DLU 14
Slide 57: Previous network investment strategy
Previous network investment strategy • Licence obligation Æ Rollout to under-serviced areas Æ Replace analogue lines with digital Æ Increase teledensity • Modernise network Æ Deployment of Asynchronous Transfer Mode (ATM) and fibre technologies Æ Customer specific solutions Æ Replacement of analogue
Slide 58: Network modernisation programme
Network modernisation programme • Replaced 228 353 non-digital lines 1997/1998 • 71 000 km of fibre laid • Replaced 518 105 non-digital lines • ATM deployed 1998/1999 • NNOC started • Afrolinque (SAT-3/WASC/SAFE) project launched • Replaced 350 440 non-digital lines 1999/2000 • NNOC open • DWDM depl
Slide 59: Access network deployed
Access network deployed • Access network consists of Future direction of access network Æ Mainly copper VDSL1 Æ Radio technologies deployed in rural areas ADSL Æ Fibre deployed in high-end of SHDSL 2 - 26 Mbps the market Æ Access network supports basic 1.5 - 8 Mbps ISDN voice to broadband Modem 2 -
Slide 60: Switching and transmission network
Switching and transmission network • Voice network Æ Two-tier switching network with SS# 7 (Signally System #7) Æ Deployed intelligent network platform • Non-voice network Æ Constant-bit rate, variable bit rate platforms Æ End-to-end leased circuits Æ IP enabled • Transmission network Æ Consists of
Slide 61: International network
International network • Satellite investments • Cable investments Æ New submarine cable investment – Afrolinque (SAT-3/WASC/SAFE) Æ 26 448 km Telkom-driven undersea cable between Portugal and Malaysia Æ Ultimate capacity for SAFE – 130 Gb/s (25 year expected life); SAT-3 – 120Gb/s Æ 12,1 million sim
Slide 62: VOIP network deployed
VOIP network deployed • Established Voice Over Internet Protocol (VOIP) Point of Presence (PoP) in London Æ Attracting voice minutes destined for RSA and Africa from “emerging” carriers Æ Traffic outgoing from RSA on “Least cost Routing - LCR” basis • Established Telkom as VOIP clearing house • Depl
Slide 63: Current network strategy
Current network strategy • Increase network efficiency Æ Evolve to converge network using existing legacy technologies Æ From current to packet switching Æ Reinvestment to ensure reliability and efficiencies • Lower costs Æ Investment in operational support systems (OSS) to drive greater efficiencie
Slide 64: Migrating the network
Migrating the network PSTN Applications NGN1 TDM2 4 Interwork network NGN with TDM Softswitch 3 Create NGN network IP-enabled access • Dial-in • xDSL 2 Support Voice • Fiber-to-the-X 1 Build-out Packet Access over Packet Access 5 Customer Swing-over 1. Next Generation Network 2. Time Division Multi-
Slide 65: Investing for growth
Investing for growth
Slide 66: Capex to maintain customer base
Capex to maintain customer base Fixed-line connections (000s) Telkom continues the need to connect customers in profitable economic centres to maintain existing customer base. 1,246 Customer migrations have resulted in high level of prepaid and ISDN connections. 1,037 998 492 2000 2001 2002 Sep-02 Y
Slide 67: Investing for mobile growth
Investing for mobile growth South African mobile customers (000s) Mobile leased facilities revenue (Rm) Telkom’s wholesale benefits from the continued Telkom carries all mobile traffic and continues to strong growth in mobile customers and traffic build backbone for operators 12,081 834 10,789 704 8
Slide 68: Investing for growing bandwidth demands
Investing for growing bandwidth demands Kbps Leased Line, 1544 Frame Relay, Video, Multimedia XDSL 128 ISDN, Frame Simple Video, Voice 64 Relay 56K Web Browsing New Modem 28.8 E-Mail, File Transfer 19.2 Old Modem Narrowband 9.6 Minimum Bandwidth for Application per User 26
Slide 69: Maintaining the network
Maintaining the network
Slide 70: What is maintenance capex?
What is maintenance capex? Maintenance operating expenditure Capital expenditure Expenditure to maintain an asset Expenditure to enhance or that has not reached the end of its rehabilitate life AND if expenditure is a one Expenditure that increases for one replacement then it is capacity or new tech
Slide 71: Challenges in maintaining the network
Challenges in maintaining the network Balancing service and cost objectives Prioritisation of fault repairs Customer segmentation Fault repeat rates Reskilling and restaffing the network 29
Slide 72: Why reinvest in the network?
Why reinvest in the network? Reduce long-term maintenance costs Improve customer service Increase network resilience and efficiencies Eliminate duplication and surplus resources 30
Slide 73: Containing maintenance costs
Containing maintenance costs Materials and maintenance (Rm) Telkom’s investment in the network together with its continued effort to improve the access network 8.3% 2,093 operations contributes to the containment of materials 1,986 1,962 7.9% and maintenance costs 7.4% 7.5% 7.3% Telkom continues to
Slide 74: Improving customer service
Improving customer service Mean time to install Mean time to install ISDN Mean time to repair residential voice improved improved by 77% to 20 business voice improved by by 67% to 7 days days 58% to 11 hours 88 21 26 11 7 20 2000 2003 2000 2003 2000 2003 Year ended March 31, 2000 and six months ende
Slide 75: Reducing fault rates
Reducing fault rates Faults per thousand business lines Number of fault rates per 1000 2Mb Focused improvement on reducing repeat fault Improving the fault rates in our data network rates in business segment 332 1,036 925 279 265 718 750 223 2000 2001 2002 Sep-02 2000 2001 2002 Sep-02 Year ended Mar
Slide 76: The multi-skilled technical officer
The multi-skilled technical officer ian Technic Joiner gineer Field en r Repaire 34
Slide 77: OSS investment
OSS investment
Slide 78: Company strategic objectives
Company strategic objectives Increase Increase profitability and cash flows, shareholder value reduce indebtedness, reinstate dividend payments • Increase revenue • Minimise revenue loss • Reduce costs • Increase profits Maintain market Position the Group for competition leadership positions • Impro
Slide 79: OSS strategic direction
OSS strategic direction Organisation • Focused on servicing Telkom to improve productivity, improve efficiencies, and empower customer facing staff Activity • Develop and enhance current operational, business and support systems Objective • Address critical business needs by providing solutions that
Slide 80: Sustainable Competitive Advantage (SCA)
Sustainable Competitive Advantage (SCA) • Key enablers for sustainable competitive advantage in the service industry are Æ Product bundling Æ Customer care Æ Cost structures Æ People Æ Speed and flexibility • OSS to develop solutions to ensure Telkom remains competitive, differentiates itself and be
Slide 81: OSS Programme
OSS Programme
Slide 82: Core OSS Projects
Core OSS Projects OSS Five year project spend – estimate spend R4bn Workforce management: 18% Assurance: 18% Provisioning/fulfillment: 30% Customer care: 34% 40
Slide 83: Customer Care
Customer Care The Customer Care Functional Area includes all customer-oriented functions and data. Its scope encompasses handling all types of contact with the customer, the management of the relationship, and the administration of customer data, including information related to Telkom owned CPEs so
Slide 84: Assurance
Assurance A complete OSS assurance solution can support revenue protection, reduce costs, and increase productivity of staff and resources. The functional capabilities established in this domain will afford Telkom SA an opportunity to develop and standardise processes for resolving troubles. Rationa
Slide 85: Provisioning/Fulfilment
Provisioning/Fulfilment An effective and efficient asset management is prerequisite. The projects in this domain establish the the Network Inventory data base (physical, logical & service) for Telkom and the maintenance capability on the data. Rationale Current legacy network inventory systems are d
Slide 86: Workforce management
Workforce management This initiative is aimed at providing an automated mechanism to manage and optimise the workforce. Rationale Telkom did not have an integrated workforce management system prior to the award of the contract to MDSI Benefits Effective and efficient management of the workforce with
Slide 87: OSS benefits
OSS benefits • Business and OSS do a high level benefits setting prior to launch Setting • Re-evaluate at Launch / Scope • Re-evaluate after design • Final evaluation and baseline setting during Class Room Pilot • From Class Room Pilot 3 to 6 months stabilising period Objective • Track monthly in de
Slide 88: Investor Relations
Investor Relations telkomir@telkom.co.za Tel: +27 12 311 5720 Fax: +27 12 311 5721 Ticker - JSE: TKG, NYSE: TKG ADR ratio 1: 4
Slide 89: Exhibit 99.5
EXHIBIT 99.5
Slide 90: Telkom and the Alliance of Telkom Unions enter into long-term collective agreement
23 May 2003 Telkom and the Alliance of Telkom Unions enter into long-term collective agreement on substantive matters Telkom and the Alliance of Telkom Unions (ATU) today signed a long-term collective agreement on substantive matters that will see its members receiving a 9% salary increase this fina
Slide 91: Exhibit 99.6
EXHIBIT 99.6
Slide 92: Vodacom annual results for the year ended March 31, 2003
Telkom investor relations SENS Announcement June 18, 2003 TELKOM SA LIMITED (Registration Number 1991/005476/06) ISIN ZAE000044897 JSE and NYSE Share Code TKG (“Telkom”) Vodacom annual results for the year ended March 31, 2003 Vodacom Group (Proprietary) Limited (“Vodacom”) (not listed) in which Tel
Slide 93: Vodacom results: capital expenditure
March 31, 2002. Although it is Vodacom’s policy to hedge all foreign denominated commitments from South Africa, it does not qualify for hedge accounting in terms of IAS 39 and the impact of fluctuations in exchange rates on the market value of the financial instruments are required to be reflected t
Slide 94: Summary audited balance sheet and equity
Non-current assets 11,214 12,126 Total liabilities 9,884 9,891 Current liabilities 7,990 7,009 Short-term debt 1 3,517 1,769 Other current liabilities 4,473 5,240 Non-current liabilities 1,894 2,882 Long-term debt 2 780 1,732 Other non-current liabilities 1,114 1,150 Minority interests 11 88 Shareho
Slide 95: Operational data and notes
Prepaid 93 90 (3.2) Community services 1,719 1,861 8.3 Number of employees 6 3,859 3,904 1.2 Number of customers per employee 1,699 2,017 18.7 Other African countries Customers (thousands) 306 773 152.6 Average monthly revenue per customer Lesotho (ZAR) 144 104 (27.8) Tanzania (USD) 27 22 (18.5) Dem
Slide 96: Exhibit 99.7
EXHIBIT 99.7
Slide 97: Vodacom Group Annual Results
Vodacom Group Annual Results 18th June 2003
Slide 98: Outline
Outline • Strategic Highlights • Group Financial Review 2
Slide 99: Presentation disclaimer
This presentation has been prepared and published by Vodacom Group (Proprietary) Limited. Vodacom Group (Proprietary) Limited is a private company and as such is not required by the Companies Act of 61 of 1973, as amended, to publish its results. Vodacom Group (Proprietary) Limited makes no guarante
Slide 100: Strategic Highlights
Strategic Highlights Alan Knott-Craig Group Chief Executive Officer
Slide 101: Delivering on our strategy for growth
Delivering on our strategy for growth Short to medium term Continued South African growth potential • Leveraging SA position supported by carefully managed expansion for long term growth Medium to Potential returns from other African operations long term Underpinned by Æ Strong and experienced manag
Slide 102: Group highlights
Group highlights Strong customer Revenue growth 8.6 m 26.0% Strong Revenue revenue growth R19.8 bn 22.5% Operating Revenue profit R4.3 bn 19.6% Customers/employee Revenue 1,963 24.5% Capex to revenue Revenue 17.2% reduction of 9.3% points Innovative products Revenue “MyLife” At year end there were 7
Slide 103: Vodacom South Africa (Market share 57%)
Vodacom South Africa (Market share 57%) Total South African mobile market • Potential for further growth (thousands of customers) Æ 1800 Mhz spectrum issued Æ 4 Million free SIMs to be supplied over next 5 years 13,852 Æ Estimate the SA market at 19 million CAGR 43% 10,789 • Cell C expected to erode
Slide 104: Strong SA operational indicators
Strong SA operational indicators • Gross connections up 15.0% to a Vodacom SA customers and gross new high of 3.5 million connections (thousands) 7,874 Æ 84.6% of closing base is prepaid 6,557 Æ 18.2% of closing base is inactive 5,108 3,495 3,069 2,990 3,038 • Churn trends 1,884 Æ Contract churn at
Slide 105: Vodacom Tanzania (Market share 53%)
Vodacom Tanzania (Market share 53%) Customers (thousands) and ARPU • Customer growth of 96.1% (US$) Æ 98.4% prepaid 31 Æ 2,055 public phones 447 27 • ARPU decline of 18.5% to $22 228 22 82 2001 2002 2003 • Market overview Customers ARPU Æ Market leader with 53% market share, Celtel recently aggressi
Slide 106: Vodacom Congo (Market share 44%)
Vodacom Congo (Market share 44%) • Official launch May 2002 Customers (thousands) Ç 1,074% 248 • Strong customer growth Æ 95.7% prepaid Æ 6,828 public phones 21 • ARPU of $20 2002 2003 • Market overview Market analysis 6% Æ We have more than doubled the market size in 11 months since launch Æ Estima
Slide 107: Vodacom Lesotho (Market share 80%)
Vodacom Lesotho (Market share 80%) • Customer growth of 35% Customers (thousands) and ARPU (R) Æ 93.8% prepaid 144 77 Æ True prepaid service was installed in 2002 57 104 22 • ARPU decline of 28% to R104 2001 2002 2003 Customers ARPU • Market overview Market analysis Æ Launch of a second operator dur
Slide 108: Slowing capital expenditure
Slowing capital expenditure • South Africa Group capex spend (Rm) Æ Quality network with national GPRS 4,279 coverage 36.2% 3,399 3,184 Æ Limited 1800 network installed in Gauteng and Western Cape 2,032 Æ Cumulative capex R16.6 bn 17.2% 26.5% 24.0% • Tanzania Æ 6% of land area and 25% of 2000 2001 2
Slide 109: Financial Review
Financial Review Leon Crouse Group Finance Director
Slide 110: Financial Highlights
Financial Highlights Current year Previous year EBITDA margin Revenue 33.9% 35.3% Operating profit margin Revenue 21.9% 22.4% Free cash flow Revenue R1.9 bn (R0.1bn) Net debt to equity Revenue 33.6% 65.5% ROA1 Revenue 18.0% 17.5% At year end all our African operations were profitable at the operatin
Slide 111: Group revenue analysis
Group revenue analysis Total revenue (Rm) Revenue analysis (Rm) (1.9%) (2.7%) Revenue Ç Ç Ç 2.7% 1.9% excl. handsets 35.4% 29.3% 20.6% (10.1%) 11.5% Ç Ç Ç 38.7% 21.7% 22.5% 19,779 16,151 13,276 26.8% (26.6%) 9,572 57.1% (58.7%) Airtime Interconnection Equipment sales International airtime Other sale
Slide 112: Group revenue analysis (Rm)
Group revenue analysis (Rm) 2002 2003 % change South Africa 15,410 18,544 20.31 Tanzania 657 880 33.9 Congo 14 259 1,750.0 Lesotho 70 96 37.1 Vodacom Group 16,151 19,779 22.5 2002 2003 Other African operations Revenue contribution 4.6% 6.2% 1 Growth excluding equipment sales is 18.1% 16 African cont
Slide 113: SA data revenue
SA data revenue • Revenue from data services makes Data revenue (Rm) up 3% of total revenue • Strong penetration of SMS use Ç Ç 50.4% 45.3% Æ Contract 73% 581 Æ Prepaid 42% • SMS usage increased 64.7% to 1.5 billion for the year 400 • Stimulated by new tariff packages such as 4U 266 • Impact of MyLi
Slide 114: Group operating expenses
Group operating expenses Total operating expenses (Rm) Operating expenses analysis (Rm) 7.7% (7.6%) 6.6% (9.1%) Ç Ç Ç 48.8% 16.9% 23.3% 15,449 15.4% (16.5%) 12,530 10,723 7,208 14.4% 55.9% (11.0%) (55.8%) Other direct network operating costs Payments to other operators Depreciation and amortisation
Slide 115: Operating profit/(loss) analysis (Rm)
Operating profit/(loss) analysis (Rm) 2002 2003 % change South Africa 3,627 4,290 18.3 Tanzania 134 187 39.6 Congo (20) (117) (485.0) Lesotho 12 4 (66.7) Holding companies (132) (34) 25.8 Vodacom Group 3,621 4,330 19.6 2002 2003 Other African operations Revenue contribution 2.2% (0.1%) Other African
Slide 116: EBITDA analysis (Rm)
EBITDA analysis (Rm) 2002 2003 % change Vodacom South Africa 5,567 6,423 15.4 Vodacom Tanzania 231 334 44.6 Vodacom Congo (12) (49) (308.3) Vodacom Lesotho 31 26 (16.1) Holding companies (126) (30) 23.8 Vodacom Group 5,691 6,704 17.8 2002 2003 Other African operations Revenue contribution 3.6% 3.5%
Slide 117: Factors that affect the trends
Factors that affect the trends • More conservative accounting Handset sales (Rm) policies than our peers Ç È Ç 60.2% 20.3% 39.2% • Change in traffic mix negatively 2,042 2,264 1,627 affected operating profit 1,275 • Fluctuating, low margin handset 2000 2001 2002 2003 sales affect revenue and margins
Slide 118: Results impacted by currency fluctuations
Results impacted by currency fluctuations Adjusted profit after tax (Rm) • Non-recurring sale of non-core assets Ç Ç Ç 22.0% 34.6% 27.0% 2,667 • A more rule based approach to 2,101 accounting has been adopted 1,280 1,561 Æ IAS39 2000 2001 2002 2003 Æ Effect of currency revaluation Excluding after ta
Slide 119: Profitability and margins
Profitability and margins Margins (%) Adjusted Margins (%) 36.2% 35.3% 34.8% 34.9% 33.9% 33.9% 33.2% 31.6% 24.7% 23.3% 22.4% 21.9% 22.1% 21.9% 20.8% 19.2% 14.7% 13.7% 13.4% 13.5% 13.0% 11.2% 11.8% 9.9% 2000 2001 2002 2003 2000 2001 2002 2003 EBITDA margin Adjusted EBITDA margin Operating profit marg
Slide 120: Increasing efficiencies
Increasing efficiencies • Improving efficiencies SA customers per employee Æ Customers per employee ratio at highest level Ç Ç Ç 64.2% 36.5% 18.7% Æ Driving capex to revenue ratio down 2,017 1,699 Æ Indirect costs contained 1,245 758 2000 2001 2002 2003 • Lower costs Other African customers per Æ Ne
Slide 121: Strong cashflows and balance sheet
Strong cashflows and balance sheet Operating cash flow (Rm) Net debt to EBITDA (%) È È È Ç Ç Ç 93.9% 30.8% 0.2% 28.7% 46.6% 32.7% 8.6% 63.1% 62.9% 34.2% 6,721 6,188 2000 2001 2002 2003 Net debt includes interest and non-interest bearing debt, shareholder loans, bank overdraft net of cash and cash eq
Slide 122: Net debt composition and maturity
Net debt composition and maturity 2004 2005 2006 2007 2008 >2009 Total SA finance leases 13.5 28.3 49.6 77.6 111.8 604.1 884.9 Vodacom Tanzania 65.9 84.6 108.7 111.7 58.7 165.7 595.3 Vodacom Congo 206.7 335.7 - - - - 542.4 SA shareholders loans 920.0 - - - - - 920.0 Net bank and cash (647.5) (647.5)
Slide 123: Net debt profile
Net debt profile • We aim to secure non-recourse Net debt profile financing for all other African operations 21.8% 21.9% • In South Africa our net debt comprises almost entirely of finance lease liabilities and shareholders loans • As we only proportionately 17.8 consolidate Vodacom Congo, 49% of th
Slide 124: Shareholder distributions
Shareholder distributions • Repaying R920m shareholder Shareholder distributions (Rm) loans at June 30, 2003 Ç Ç Ç 215.8% 16.6% 3.2% • Paying an interim dividend in September 2003 • Principle of approximately 3 times cover to decrease in the future 600 600 480 202 158 168 144 2000 2001 2002 2003 Int
Slide 125: Questions?
Questions?
Slide 126: Exhibit 99.8
EXHIBIT 99.8
Slide 127: Group preliminary audited annual results, year ended March 31, 2003
Telkom Telkom SA Limited group preliminary audited annual results for the year ended March 31, 2003 (Registration number 1991/005476/06) JSE and NYSE share code: TKG ISIN: ZAE000044897 Eps up 34% Capex reduced 37% Total debt down 12% R cents R million R million 292.6 9,889 26,268 291.2 25,401 9,461
Slide 128: Group operating revenue and expenses commentary
Group operating revenue 16.8% to R1,699 million (2002: R2,042 million) and was 17.2% (2002: Operating revenue increased in both the fixed-line and mobile segments, 25.3%) of mobile revenue. Capital expenditure for the South African mobile resulting in an overall increase of 10.0% (2002: 9.1%) to R37
Slide 129: Fixed-line and mobile operating expenses, dividends
than fixed-line services. Traffic declined 0.7% (2002: 0.3% decrease), however, (2002: 30.1%) due to greater competition, lower barriers to entry for prepaid revenue per fixed access line continued to improve, increasing 5.5% (2002: customers and the volatile nature of the prepaid customer base. 10.
Slide 130: Summary group financial statements and operational data
Summary group financial statements and operational data Operational data Year ended March 31 2002 2003 % change Fixed-line Fixed access lines (thousands) 4,924 4,844 (1.6) Postpaid PSTN 3,554 3,285 (7.6) ISDN channels 467 563 20.6 Prepaid 708 817 15.4 Payphones 195 179 (8.2) Fixed-line penetration r
Slide 131: Cash flow statements, segment information, balance sheets
Audited consolidated cash flow statements In ZAR millions Year ended March 31 2002 2003 % change Operating activities 8,171 9,748 19.3 Cash receipts from customers 34,053 37,494 10.1 Cash paid to suppliers and employees (22,470) (25,431) 13.2 Cash generated from operations 11,583 12,063 4.1 Income f
Slide 132: Balance sheet and changes in equity
Investments 751 1,086 Deferred taxation 1,012 737 Current assets 10,997 9,921 Inventories 624 621 Trade and other receivables 5,720 6,110 Short-term investment 29 26 Income tax receivable 1,081 276 Other financial assets 2,819 1,771 Cash and cash equivalents 724 1,117 Total assets 55,208 53,154 EQUI
Slide 133: Headline earnings reconciliation
based on net profit of R1,630 million (2002: R1,221 million) and 557 031 819 (2002: 557 031 819) issued shares. There are no dilution factors at present; as a result basic and diluted earnings per share are equal. 7. Headline earnings reconciliation Earnings as reported 1,221 1,630 Adjustments: Net
Slide 134: Commitments and related party transactions
Preference shares (368) (368) Accordingly, the group exposure is 50% of the above amounts. 12. Capital commitments Capital commitments authorised not committed 5,272 5,494 Fixed-line 4,847 4,873 Mobile 425 621 Capital commitments authorised and committed 810 435 Fixed-line 85 104 Mobile 725 331 Thes
Slide 135: Exhibit 99.9
EXHIBIT 99.9
Slide 136: Telkom SA Limited Group annual results, year ended March 31, 2003
Telkom SA Limited Group annual results Year ended March 31, 2003
Slide 137: Telkom at a glance
Telkom at a glance March 31, 2003 Group structure Fixed lines (000s) 4,844 Fixed-line 35% Vodafone Group plc Digitalisation (%) 99.8 Telkom 15% VenFin Limited Fixed-line employees1 35,361 Mobile 64.9% Telkom 50% Directory Vodacom Services Mobile customers (000s) 8,647 100% Swiftnet SA mobile market
Slide 138: Group strategy
Group strategy Increase Increase profitability and cash flows, shareholder value reduce indebtedness, reinstate dividend payments Maintain market Position the Group for competition leadership positions • Compete effectively and grow selected markets • Enhance operational and capital efficiencies • E
Slide 139: Key achievements
Key achievements • Launch of ADSL in August 2002 Æ Increasing revenue intensity • Vodacom and Telkom synergies framework Æ Support for long-term group strategy • Vodacom launch of DRC in May 2002 Æ Building a base for long-term African growth • Launch of the intercontinental submarine cable, Afrolin
Slide 140: Group operational highlights
Group operational highlights In 2003 ISDN channels 20.6% growth Prepaid customers 15.4% growth Managed data sites 36.0% growth Fixed-line employees1 10.4% reduction Mobile customers2 26.0% growth Mobile SA customers/employee 18.7% increase Mobile SMSs 64.7% growth 1. Excluding Telkom Directory Servi
Slide 141: Group financial highlights
Group financial highlights In ZAR millions % change since previous year Revenue 37,600 10.0 EBITDA 12,807 33.4 EBIT 6,514 55.4 EPS (cents) 292.6 33.5 Capex 5,712 (36.6) Net debt 1 20,096 (8.1) Year ended March 31, 2003. 1. Net interest bearing debt net of other financial assets and liabilities 6 A y
Slide 142: Group financials
Group financials
Slide 143: Group income statement highlights
Group income statement highlights March 31, ZAR millions 2002 2003 % Revenue 34,197 37,600 10.0 EBITDA 9,599 12,807 33.4 EBITDA margin 28.1 34.1 EBIT 4,191 6,514 55.4 EBIT margin 12.3 17.3 Net profit 1,221 1,630 33.5 EPS 219.2 292.6 33.5 HEPS 299.3 314.0 4.9 8 Margin expansion and strong earnings gr
Slide 144: Normalised earnings
Normalised earnings March 31, ZAR millions 2002 2003 % Earnings as reported 1,221 1,630 33.5 Headline earnings adjustments 446 119 (73.3) Headline earnings 1,667 1,749 4.9 Provision for bad debts (after 30% tax)1 107 (193) - Telcordia (incl legal and finance charges) 375 98 - IPO expenditure - 213 -
Slide 145: Expanding group margins
Expanding group margins EBITDA margin (%) EBIT margin (%) Group Fixed-line Mobile Group Fixed-line Mobile 36.2 35.3 24.7 33.9 34.1 22.5 21.9 31.6 32.0 19.2 29.8 31.9 30.5 17.3 28.1 15.9 14.4 26.6 12.3 24.3 14.4 14.7 10.8 8.7 2000 2001 2002 2003 2000 2001 2002 2003 Year ended March 31 Year ended Marc
Slide 146: Segment contribution
Segment contribution Revenue contribution Operating profit contribution In ZAR millions % change on previous year In ZAR millions % change on previous year Fixed-line 29,199 5.8 Fixed-line 4,348 79.3 77.7% 33.3% 22.3% 66.7% Mobile 8,401 27.5 Mobile 2,166 19.3 Year ended March 31 1. After inter-segme
Slide 147: Containing group operating expenses
Containing group operating expenses Group operating expenses Group operating expenses contribution In ZAR millions In ZAR millions % change from previous year Ç Employee expenses: 7,208 0.6 3.6% 20.1% 23.0% 31,086 Depreciation & amortisation: 6,293 16.4 30,006 26,368 Operating leases: 1,205 (1.0) 3.
Slide 148: Fixed-line operating expenses
Fixed-line operating expenses Employee expenses Payments to operators SG&A In ZAR millions In ZAR millions In ZAR millions Employee expenses as % revenue È 0.5% 23.6 È 22.6 6,759 6,726 4,650 28.8% 6,611 6,698 3,312 2002 2003 2002 2003 2002 2003 Year ended March 31. Before inter-segmental elimination
Slide 149: Mobile operating expenses
Mobile1 operating expenses Employee expenses Payments to operators SG&A In ZAR millions In ZAR millions In ZAR millions Employee expenses as % revenue Ç Ç 61.0% 25.1% 1,109 4,614 7.0 3,688 5.1 568 689 509 2002 2003 2002 2003 2002 2003 Year ended March 31. 1. 50% of Vodacom’s operating expenses. Expe
Slide 150: Group cash flow highlights
Group cash flow highlights March 31, In ZAR millions 2002 2003 % Operating activities 8,171 9,748 19.3 Cash generated from operations 11,583 12,063 4.1 Investing activities 9,250 5,731 (38.0) Additions to PPE 9,004 5,671 (37.0) Financing activities 66 (3,026) - Net cash (98) 837 - Free cash flow (1,
Slide 151: Reduced capital investment
Reduced capital investment Fixed-line capital expenditure Mobile capital expenditure In ZAR millions In ZAR millions R1.4bn (50% of Vodacom’s) budget Capex to revenue Capex to revenue for 2004 25.3% R5.0bn budget 24.0% 35.5% 20.7% for 2004 17.2% 31.4% 8,468 2,042 8,297 24.9% 6,962 1,699 1,592 13.5%
Slide 152: Group balance sheet highlights
Group balance sheet highlights March 31, In ZAR millions 2002 2003 % Total liabilities 39,136 34,612 (11.6) Total debt 25,401 22,417 (11.7) Net debt2 21,858 20,096 (8.1) Net debt to equity ratio 129.9 109.5 Total assets 55,208 53,154 (3.7) Capital and reserves 16,832 18,348 9.0 Return on assets1 7.8
Slide 153: Group debt profile
Group debt profile Group total debt ageing Currency profile In ZAR millions In ZAR millions contribution TL08, May- 04, R3.4 Local: 17,114 77.3% TL03, Sep- 03, Foreign: 5,023 22.7% YTM-17.3% R4,3bn YTM- 10 to 11% 5,429 5,173 4,693 4,682 4,576 Fixed v Floating In ZAR millions contribution Floating: 2
Slide 154: Delivering on financial objectives
Delivering on financial objectives Margin expansion Group EBITDA margin 34.1% Group EBIT margin 17.3% Group Capex to revenue 15.2% Capex reduction Group capex R5,7bn Free cash flows of R4,0bn Increased free cash EPS growth of 33.5% flow Debt repayment of R2.4bn1 1. Exclude other financial liabilitie
Slide 155: Fixed-line operational review
Fixed-line operational review
Slide 156: Fixed-line financial highlights
Fixed-line financial highlights In ZAR millions % change since previous year Revenue 29,635 5.9 EBIT 4,348 79.3 Capex 4,013 (42.4) Total debt1 21,173 (11.2) % in 2003 % in previous year EBITDA margin 31.9 24.3 Capex to revenue 13.5 24.9 Fixed-line segment, before inter-segmental eliminations with mo
Slide 157: Improving the quality of our customer base
Improving the quality of our customer base Prepaid customers (000s) ISDN Channels (000s) Revenue per line1 (ZAR) Ç Ç Ç 5.5% 15.4% 20.6% 4,989 4,729 817 563 708 467 2002 2003 2002 2003 2002 2003 Year ended March 31 1. Excluding data and directories and other services revenue 22 Increasing profitabili
Slide 158: Data volumes providing growth
Data volumes providing growth Data revenue (Rm) Number of managed network sites In ZAR millions Number of sites Ç 36.0 Ç 7,729 15.2 4,507 5,684 3,913 4,634 3,328 2,764 3,138 2000 2001 2002 2003 2000 2001 2002 2003 Year ended March 31 Fixed-line data revenues before inter-segmental eliminations with
Slide 159: Customer service remains top priority
Customer service remains top priority Mean time to repair Mean time to install ISDN Mean time to install corporate voice improved improved by 52% to 15 corporate voice improved by 50% to 7 hours days by 87% to 0.4 hours 31 3 14 7 15 0.4 2002 2003 2002 2003 2002 2003 Year ended March 31 24 Great impr
Slide 160: Keeping prices competitive
Keeping prices competitive Tariff rebalancing largely completed over 5 years Local and long distance calls are the period ending 2002 in preparation for competition. cheapest in the South African market Ratio of local call prices to long distance now in line with best practice Standard Callmore time
Slide 161: Protecting our core revenues
Protecting our core revenues Real price reductions Tariffs rebalanced African hubbing Prepaid growth Volume discounts Price promotions SNO services Value-added services Long-term contracts Cable investments New mobile interconnect Tariffs rebalanced Value-added products Call packages 7,539 5,616 4,5
Slide 162: Streamlining the company
Streamlining the company Fixed-line employee numbers1 Employee losses over last 4 years Contribution to gross employee losses1 (%) 49,128 È Natural attrition: 34.7% Early retirement: 18.3% 43,758 10.4% 39,444 35,361 Outsourcing: 10.5% Voluntary severance: 30.2% Involuntary reductions: 6.3% 2000 2001
Slide 163: Creating a cost conscious culture
Creating a cost conscious culture Materials and maintenance (ZARm) Bad debts (ZARm)1 Outsourced contracts (ZARm)1 Materials & maintenance as % revenues Bad debt write-off as % revenues È 2,244 Flat 2,241 7.5 7.7% 2.9 6.5 2,093 1,932 1.7 812 491 2002 2003 2002 2003 2002 2003 Year ended March 31. Befo
Slide 164: Mobile operational review
Mobile operational review
Slide 165: Vodacom financial highlights
Vodacom1 financial highlights In ZAR millions % change since previous year Revenue 19,779 22.5 EBIT 4,330 19.6 Capex 3,399 (20.6) % in 2003 % in previous year EBITDA margin 33.9 35.3 Capex to revenue 17.2 26.4 Net debt to equity 33.6 65.4 1. 100% of Vodacom (Telkom consolidates 50%) 30 Leadership in
Slide 166: Continued strong customer growth in South Africa
Continued strong customer growth in South Africa Vodacom South African customers (000s) South African mobile market share Number of customers (M): market share (%) Ç Vodacom: 7.9 57 20.1% MTN: 4.8 35 7,874 6,557 5,108 Cell C 1.1 8 3,069 2000 2001 2002 2003 Year ended March 31 Vodacom estimates 31 Cu
Slide 167: Stabilising mobile ARPUs
Stabilising mobile ARPUs Vodacom SA ARPU (ZAR) SA contract ARPU’s (ZAR) SA contract churn (%) Ç Ç 12.3% 0.5% 182 183 560 629 14.5 È 17.9% 11.9 2002 2003 2002 2003 2002 2003 Year ended March 31 Year ended March 31 Year ended March 31 32 Increasing the value of our contract customers
Slide 168: Strong mobile data growth
Strong mobile data growth Vodacom data revenue Number of SMSs In ZAR millions Millions Ç 64.7% Ç 1,500 45.3% 581 911 400 2002 2003 2002 2003 Year ended March 31. Year ended March 31 1. 100% of Vodacom (Telkom consolidates 50%) 33 Launch of MyLife in October 2002 to support future data growth
Slide 169: Improving productivity
Improving productivity Vodacom SA profitability margins (%) SA customers per employee Ç EBITDA % EBIT % 18.7% 2,017 1,699 36.2 35.6 34.9 32.0 1,245 24.7 23.0 23.4 19.7 758 2000 2001 2002 2003 2000 2001 2002 2003 Year ended March 31 Year ended March 31 34 Combatting margin pressure with improved prod
Slide 170: Expansion beyond South Africa
Expansion beyond South Africa Other African revenue (ZARm)1 Ç • Tanzania 447,438 customers 66.7% • Estimate market share: 53% • ARPU: USD 22 1,235 • Employees: 224 DRC • 247,909 customers • Estimate market share: 44% 741 • ARPU: USD 20 • Employees: 204 Lesotho • 77,474 customers • Estimate market sh
Slide 171: Conclusion
Conclusion
Slide 172: Recent developments
Recent developments • Wage settlement Æ 9%, 8%, 7% for years ending March 04, 05, 06 respectively • Change in inflation • Decline in interest rates Æ Impact on future tariffs, operating profits Æ Benefit on refinancing of debt, consumer spend • Competition in fixed-line Æ Two bidders short-listed •
Slide 173: Outlook
Outlook Customer service Short-term focus Efficiencies Debt reduction Fixed-mobile synergies Long-term focus African growth Carrier of choice 38 Well positioned to deliver on short to medium term targets
Slide 174: Forward-looking safe harbour
Forward-looking safe harbour All statements contained herein, as well as oral statements that may be made by Telkom SA Limited or by officers, directors or employees acting on behalf of the Telkom Group, that are not statements of historical fact constitute “forward-looking statements” within the me
Slide 175: Investor Relations
Investor Relations telkomir@telkom.co.za Tel: +27 12 311 5720 Fax: +27 12 311 5721 Ticker - JSE: TKG, NYSE: TKG ADR ratio 1: 4