Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q1 2019 Earnings Presentation
16 slides from Taiwan Mobile's earnings presentation, Apr 30, 2019
Slide 1: Taiwan Mobile Co., Ltd. 1Q19 Results Summary
Taiwan Mobile Co., Ltd. 1Q19 Results Summary April 30, 2019 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
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Slide 4: Increase in Free Cash Flow
Increase in Free Cash Flow 1Q19 Telecom Service 1Q19 Telecom EBITDA Revenue -11% YoY -11% YoY +2% YoY -11% YoY Reported Pre-IFRS Reported Pre-IFRS Operating Cash Flow Free Cash Flow (NT$bn) (NT$bn) 8.0 7.5 5.2 5.5 1Q18 1Q19 1Q18 1Q19 4 Note: Cash flows and pre-IFRS numbers of telecom service revenue
Slide 5: Versatility
Versatility +7ppts YoY -2ppts YoY % of mobile sign-ups via SAC as % of ARPU TWM’s own channels +5ppts YoY +26% YoY % of non-handset bundle plan IoT connectivities as main differentiation +5% YoY ICT, cloud, internet and data access revenue 5
Slide 6: Diversification
Diversification EBIT Contribution Decline in Telecom Decline factors $499 frenzy 2019Q1 -16% YoY in EBIT Domestic roaming MOU 23% Resilience in Cable TV Cable TV Growth drivers Fixed Broadband + momo +4% YoY in EBIT Digital TV Depreciation 19% Stellar momentum in momo Growth drivers 2018
Slide 7: momo – Crown Jewel
momo – Crown Jewel Total Revenue Total Pre-IFRS 16 EBITDA (NT$bn) (NT$bn) +15% YoY 11.74 10.18 +17% YoY 0.46 0.54 1Q18 1Q19 1Q18 1Q19 B2C e-commerce B2C e-commerce Average ticket size # of Transaction (NT$) (mn) +14% YoY +5% YoY 4.64 4.08 2,163 2,060 1Q18 1Q19 1Q18 1Q19 7
Slide 8: Financial Overview
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Slide 9: Performance by Business
Performance by Business Revenue Pre-IFRS16 EBITDA NT$bn Telecom CATV momo Total1 Telecom CATV momo Total1 1Q19 16.57 1.55 11.74 29.87 6.02 0.79 0.54 7.45 % of 55% 5% 39% 100% 81% 11% 7% 100% total 1Q19 -10% -3% 15% -1% -11% -3% 17% -9% YoY 4Q18 -13% 1% 25% -1% -5% 5% 15% -2% YoY 1Q19 YoY (Reported)
Slide 10: Results Summary
Results Summary 1Q19 NT$bn % of 1Q Amount YoY guidance Revenues 29.87 -1% 100% Operating Costs (21.68) 1% 100% Operating Expenses (3.96) -5% 93% Operating Income 4.23 -11% 108% Non-op. Income (Exp.) (0.14) -22% 74% Pre-tax Income 4.09 -10% 109% Net Income 3.07 -12% 108% EPS1 (NT$) 1.13 -12% 109% EBI
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 1Q19 4Q18 1Q18 NT$bn 1Q19 4Q18 1Q18 Total Assets 155.21 147.67 155.27 Liabilities 82.53 79.67 82.76 Current Assets 28.60 29.07 31.22 Current Liabilities 39.41 41.88 52.14 - Cash & Cash Equivalents 7.84 7.50 7.66 - ST Debts 13.60 18.57 28.27 - Receivable & Contract Assets
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 1Q19 4Q18 1Q18 Operating 8.44 7.31 7.96 Investing (2.09) (2.01) (2.16) Financing (6.02) (3.74) (4.76) NT$bn 1Q19 4Q18 1Q18 Pre-IFRS 16 Operating1 7.47 7.31 7.96 Cash CAPEX2 (2.02) (1.87) (2.76) Free Cash Flow2 5.45 5.44 5.20 1. “Lease expenses” previously under operating act
Slide 13: Event Updates
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Slide 14: Event Updates
Event Updates 2018 Earnings Distribution On April 30, 2019, TWM’s board meeting approved the proposal to distribute NT$15.4bn in cash dividends, translating into a 113% payout to shareholders. Dividend per share is NT$5.6 on 2.74bn shares, excluding treasury shares held by 100%-owned subsidiaries. A
Slide 15: Key Message
Key Message The group will strive to leverage our thriving ecosystem and accelerate our transformation into a regional enterprise following the 5”G”+ guidelines: 1. Gift – digital transformation based on in-house big data, user base, and online-offline channel operations 2. Group – more synergy with
Slide 16: Q&A
Q&A 16