Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q4 2016 Earnings Presentation
15 slides from Taiwan Mobile's earnings presentation, Jan 25, 2017
Slide 1: Taiwan Mobile Co., Ltd. 4Q16 Results Summary
Taiwan Mobile Co., Ltd. 4Q16 Results Summary January 25, 2017 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
Business Overview 3
Slide 4: Mobile Growth Leading the Pack
Mobile Growth Leading the Pack Key Operating Metrics 2016 YoY change Total Subscribers Blended ARPU1 Mobile Service Revenue1 Telecom EBITDA 1. Based on IFRS – Residual Value Method, i.e. excluding revenue adjustments under the current bundle sales accounting policy 4
Slide 5: Online Shopping - A Bright Spot
Online Shopping - A Bright Spot (Unit: NT$bn) momo 4Q16 QoQ YoY 2016 YoY Total Revenue 7.62 13% 11% 28.08 10% - Online Shopping 5.82 17% 22% 20.58 19% - TV Home Shopping & 1.80 -1% -14% 7.50 -11% Others EBITDA 0.34 14% 21% 1.37 15% EBITDA Margin 4.4% 0.1ppts 0.4ppts 4.9% 0.2ppts 5
Slide 6: Financial Overview
Financial Overview 6
Slide 7: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom CATV momo Total Telecom CATV momo Total 4Q16 21.29 1.62 7.62 30.56 6.86 0.84 0.34 8.16 % of 70% 5% 25% 100% 84% 10% 4% 100% total 4Q16 -3% -3% 11% 0% 5% -6% 21% 5% YoY 2016 81.85 6.53 28.08 116.65 28.57 3.50 1.37 33.87 2016 -2% 0% 10% 0% 5% -2% 15
Slide 8: Results Summary
Results Summary As % of 2016 NT$mn 4Q16 YoY YoY Full-year Full-year Guidance Revenue 30,558 0% 116,647 0% 97% Cost (21,274) -1% (78,791) -1% 94% Operating expenses (4,599) -1% (17,837) 1% 96% Operating income 4,684 8% 20,020 7% 108% Net non-operating items (344) 74% (828) 37% 83% Income before tax 4
Slide 9: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 4Q16 3Q16 4Q15 4Q16 3Q16 4Q15 Total Assets 151.38 151.26 156.09 Liabilities 85.19 88.76 90.79 Current Assets 34.28 32.39 34.16 Current Liabilities 38.14 51.34 59.23 - Cash & Cash Equivalents 7.70 6.57 8.58 - ST Debts 13.62 27.82 35.28 - Accounts Receivable 15.42 15.66 15
Slide 10: Cash Flow Analysis
Cash Flow Analysis NT$bn 4Q16 3Q16 2016 2015 Operating Cash Flow 7.94 7.89 31.83 25.81 Investing Cash Flow (2.36) (3.55) (11.53) (15.18) Financing Cash Flow (4.44) (5.31) (21.17) (9.95) NT$bn 4Q16 3Q16 2016 2015 Cash CAPEX (2.26) (3.05) (10.49) (12.62) Free Cash Flow 5.68 4.84 21.34 13.19 10
Slide 11: 2017 Guidance & Event Updates
2017 Guidance & Event Updates 11
Slide 12: 2017 Guidance
2017 Guidance NT$bn 2017F 2016A YoY Revenue 118.85 116.65 2% EBITDA 32.43 33.87 -4% D&A Expense 13.88 13.85 0% Operating Income 18.56 20.02 -7% Non-operating Expense 0.66 0.83 -20% Pre-tax Income 17.90 19.19 -7% Net Income 14.38 15.32 -6% EPS1 (NT$) 5.28 5.63 -6% 1. EPS is based on total share count
Slide 13: Event Updates
Event Updates Capex Guidance The board today (January 25, 2017) approved a NT$8.5bn capex for 2017, including NT$5.0bn for mobile, NT$1.0bn for fixed-line, NT$1.4bn for CATV and NT$1.1bn for momo and other subsidiaries. Awards and Recognition − Received the most (six) awards among telecom peers from
Slide 14: Key Message
Key Message Our advantage in 4G spectrum and infrastructure investments delivered solid EBITDA growth in 2016. In 2017, we still expect to grow our free cash flow as we continue to invest for growth. Looking ahead, we’re committed to sustaining the long-term health of our business so we can deliver
Slide 15: Q&A
Q&A 15