Emirates Integrated Telecommunications Company Pjsc · DFM:DU
Emirates Integrated Telecommunications Company Pjsc — Q3 2024 Earnings Presentation
23 slides from Emirates Integrated Telecommunications Company Pjsc's earnings presentation, Oct 29, 2024
Slide 1: Q3 2024 results
Q3 2024 results October 29, 2024 Fahad Al Hassawi I Chief Executive Officer Kais Ben Hamida I Chief Financial Officer
Slide 2: Disclaimer
Disclaimer This document has been prepared by Emirates Integrated Telecommunications Company PJSC (the “Company”) solely for presentation purposes. The information contained in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, a
Slide 3: Company highlights
Company highlights Q3 2024
Slide 4: Q3 2024 key takeaways
Q3 2024 key takeaways Strong operational and financial performance and confidence in the outlook Strong revenues growth Revamped B2B portfolio in all segments introducing two new operating sub-brands Robust profitability Guidance re-affirmed driven by better mix and higher confident in achieving our
Slide 5: Q3 2024 highlights
Q3 2024 highlights Operational and financial momentum Fixed subscriber base growth 14.2% Commercial momentum Strong cash generation EBITDA growth and supportive environment Moderating Capex Revenues growth With growth in both service and “other revenues” EBITDA margin Reflecting volume, mix, efficie
Slide 6: Q3 2024 environment and business highlights
Q3 2024 environment and business highlights Supportive environment and important milestones reached Resilient UAE Major achievements Digital Strategy execution economy in B2B transformation • Strong GDP growth forecasts • Successful presence at • Global partnership with • New brand architecture Gite
Slide 7: Financial highlights
Financial highlights Q3 2024
Slide 8: Q3 2024 financial highlights
Q3 2024 financial highlights Strong and profitable growth Revenues growth throughout all segments Revenues (AED million) Revenues breakdown (AED million) +9.1% +9.1% Other 944 827 +14.1% Service revenues growth primarily driven by robust growth in subscriber base and mix 3,589 3,291 2,646 Service 2,
Slide 9: Q3 2024 financial highlights
Q3 2024 financial highlights Strong cash generation and healthy balance sheet Capex slightly down y-o-y reflecting spending Capex (AED million) and capital Operating Free Cash Flow(1) intensity (%) (AED million) normalization +27.9% Operating cash flow reflects EBITDA and Capex evolution 527 511 1,2
Slide 10: Segment highlights
Segment highlights Q3 2024
Slide 11: Mobile segment
Mobile segment Growing subscriber base and favorable mix Mobile subscriber base up 2.7% to 8.3 million Mobile subscriber base (thousand) subscribers 2.7% 8,554 8,662 8,245 8,316 8,098 Postpaid customer base up 12.5% to 1.7 million subscribers driven by innovative 6,918 6,979 6,546 6,524 6,530 soluti
Slide 12: Fixed segment
Fixed segment Sustained success of our offers Fixed subscriber base up 14.2% with net- Fixed subscriber base (thousand) additions of over 24,000 subscribers over the quarter 14.2% Continued appeal of our Fibre and Home Wireless offerings. 604 616 630 655 573 Y-o-y revenues growth driven by Home Wire
Slide 13: Other revenues
“Other revenues” Momentum in “beyond the core” activities “Other revenues” grew by 14.1% y-o-y to AED 944 Other revenues (million) million 14.1% “Other revenues” growth driven by wholesale, equipment and ICT successful launch of the iPhone 16, growth in cloud and managed services, data centres 1,029
Slide 14: Priorities and Guidance
Priorities and Guidance Q3 2024
Slide 15: 2024 priorities and guidance
2024 priorities and guidance Confidence in continuous momentum and the execution of our strategy 2024 priorities 2024 guidance Generate profitable growth in core and non-core Continue managing the business efficiently to improve margins Push further the digitalization through reinforcing our digital
Slide 16: Q&A
Q&A 16
Slide 17: Appendix
Appendix 17
Slide 18: Operational KPIs
Appendix Operational KPIs 2023 2023 2023 2024 2024 2024 Q3 Q4 FY Q1 Q2 Q3 Mobile customers (thousand)(1) 8,098 8,554 8,554 8,662 8,245 8,316 of which prepaid 6,524 6,918 6,918 6,979 6,530 6,546 of which postpaid 1,573 1,636 1,636 1,683 1,715 1,770 Mobile customers net-adds (thousand)(2) 86 456 658 1
Slide 19: P&L
Appendix P&L AED million 2024 2023 Change 2024 2023 Change Q3 Q3 % 9m 9m % Revenues 3,589 3,291 9.1% 10,763 10,078 6.8% Cost of sales (1,039) (1,059) (1.9%) (3,494) (3,410) 2.5% Indirect costs (816) (748) 9.1% (2,378) (2,299) 3.4% EBITDA 1,734 1,483 16.9% 4,891 4,370 11.9% EBITDA margin 48.3% 45.1%
Slide 20: Balance Sheet
Appendix Balance Sheet AED million 2024 2023 AED million 2024 2023 30 Sept 31 Dec 30 Sept 31 Dec Non-current assets Current assets Property, plant and equipment 9,611 9,723 Inventories 124 102 Right-of-use assets 1,450 1,597 Lease receivable 19 18 Trade receivables, contract assets Intangible assets
Slide 21: Balance Sheet
Appendix Balance Sheet AED million 2024 2023 AED million 2024 2023 30 Sept 31 Dec 30 Sept 31 Dec Equity Current liabilities Share capital 4,533 4,533 Trade and other payables 3,021 5,247 Federal royalty on profit and Share premium 232 232 1,436 - corporate income tax Other reserves 2,251 2,251 Lease
Slide 22: Cash flow statement
Appendix Cash flow statement AED million 2024 2023 AED million 2024 2023 9m 9m 9m 9m Net profit 1,903 1,271 Dividend paid (1,858) (1,179) Adjustment for non-cash items 3,297 1,940 Repayment of lease liabilities (382) (184) Change in working capital (470) 1,036 Interest paid on lease liabilities (47)
Slide 23: Thank you
Thank you Contact: Upcoming events: investor.relations@du.ae Citi’s Dubai 1x1 conference +971 55 953 0307 December 5th, 2024
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