Emirates Telecom. Group Company (etisalat Group) Pjsc · ADX:EAND
Emirates Telecom. Group Company (etisalat Group) Pjsc — e& (Emirates Telecommunications Group Company PJSC) — Q1 2024 Earnings Presentation
24 slides from Emirates Telecom. Group Company (etisalat Group) Pjsc's earnings presentation, May 1, 2024
Slide 1: Q1 2024 Results Presentation
Q1 2024 Results Presentation 1 May 2024
Slide 2: Disclaimer
Disclaimer Emirates Telecommunications Group Company PJSC (“e&” or the “Company”) and its subsidiaries have prepared this presentation (“Presentation”) in good faith, however, no warranty or representation, express or implied is made as to the adequacy, correctness, completeness or accuracy of any n
Slide 3: Group Key Highlights
Group Key Highlights Hatem Dowidar, e& Group CEO Restricted
Slide 4: Executive Summary
Executive Summary Strong start for the year 173 million subscriber base, reflecting a net addition of 8.8 million subscribers +9% growth in consolidated revenue due to strong performance across all verticals +3% growth in consolidated EBITDA attributed to revenue growth and consistent control over c
Slide 5: Key Developments Q1 2024
Key Developments Q1 2024 Continuous efforts to expand digital footprint Group e& UAE e& and Vodafone join forces to support other operators e& UAE and Cisco sign MoU to elevate connectivity and with comprehensive cross boarder managed voice collaboration services for businesses in the UAE solutions
Slide 6: Group Financial Highlights
Group Financial Highlights Karim Bennis, e& Group CFO Restricted
Slide 7: e& reported solid financial performance
e& reported solid financial ... maintaining resilient cash generation performance…. & a sound balance sheet AED 14.2 billion AED 4.7 billion Revenue Operating Free Cashflow 9.3% y-o-y in reported currency 7% y-o-y AED 6.4 billion 33% EBITDA 3.1 % y-o-y in reported currency % Operating Free Cashflow
Slide 8: Group Revenue
Group Revenue Robust start to the year with growth across all businesses Key Highlights Revenue (AED mn) & YoY Growth (%) Sources of Revenue Variance (AED mn) • Revenue growth of 9.3% attributable to growth in all +10% 453mn verticals 162 95 14,214 13,738 14,214 119 13,002 391 • Solid performance in
Slide 9: Group EBITDA
Group EBITDA Strong EBITDA growth Y/Y; Higher contribution of digital revenues impacting EBITDA margin Key Highlights EBITDA (AED mn) & Margin (%) Sources of EBITDA Variance (AED mn) • Strong EBITDA (+3.1%) +3% 102mn attributable to the solid 16 106 revenue growth 6,469 6,376 6,183 217 6,376 • EBITD
Slide 10: Group CAPEX
Group CAPEX Focus on growth and networks modernization Key Highlights CAPEX (AED mn) & Intensity Ratio (%) Sources of CAPEX Variance (AED mn) • Higher capital spend y/y 35 47 1,653 2,453 266 9 mainly due to telco verticals • Capital spend in e& UAE 1,653 200 focused 3% on expansion of -2% 5G 3% 1,09
Slide 11: Group Financial Position
Group Financial Position Strong liquidity position Key Highlights Cash & Cash Equivalents (AED mn) Total Debt (AED mn) • Cash balance improved 31,454 31,640 46,935 49,041 48,068 since December 2023 on 28,989 higher cashflow generation and efficient management of working 3% capital. -2% 3% • Lower de
Slide 12: Group Debt Profile
Group Debt Profile Prudent debt management Key Highlights Borrowings by Operations (AED mn) Borrowings by Currency (%) 38,766 MAD 5% • Total debt of AED 48.1 billion PKR USD Others 5% 6% 7% • 81% of group debt is at holdco level, mostly in bank borrowings 3% -2% 3% Euro 18% AED • 63% of debt is in U
Slide 13: Performance by Vertical
Performance by Vertical Restricted
Slide 14: e& UAE
e& UAE Sustained consistent growth in revenue and EBITDA Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) 13.9 14.2 14.5 7,767 8,004 8,211 • Profitable subscriber growth • Continued solid topline growth 3% driven by strong -2% 3% execution, robust commercial momentum and acceleratio
Slide 15: UAE Breakdown & Key KPIs
UAE Breakdown & Key KPIs Strong results across the operational performance & subscriber gains Mobile Revenue(1) (AED mn) & YoY Growth (%) Fixed Revenue(2) (AED mn) & YoY Growth (%) Other Revenue(3) (AED mn) & YoY Growth (%) 2,956 2,943 2,859 2,915 2,870 2,398 2,815 2,093 2,134 18% 16% 15% 4% 5% 2% 1
Slide 16: e& international
e& international Outstanding financial and operational growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) 10% • Consistent growth in subs, 149.9 155.2 158.1 4,956 5,018 4,627 reaching 158.1 million • Robust growth of 8.4% year over year 3% to AED 5.0 billion, -2% 3% up 9.8% in
Slide 17: Maroc Telecom Group
Maroc Telecom Group Resilience despite regulatory and competitive operating environment Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) 0% • Solid year on year growth in 77.1 3,147 3,159 75.0 75.9 3,070 subscriber base attributed to Moov Africa • Stable3%revenue growth y/y -2% 3% a
Slide 18: e& Egypt
e& Egypt Outstanding growth in both reported & Constant currency Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +43% 33.9 34.8 994 1,035 • Strong subscriber growth 30.6 despite economic backdrop 820 26% • Robust3%revenue growth in-2% 3% constant currency attributed -9% to mobile d
Slide 19: PTCL Group
PTCL Group Inflation and energy costs impacting profitability margin Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +14% • Growth y/y in mobile and 26.6 27.5 27.7 662 650 FTTH subscribers 607 • Revenue growth in constant currency attributed to strong 3% performance in fixed and-2%
Slide 20: e& enterprise
e& enterprise Double digit growth overall with strong momentum in KSA e& enterprise Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) +21% • Outstanding revenue growth 81 which funneled down to solid 689 EBITDA growth 3% -2% 3% 570 65 • Solid Cybersecurity growth, fuel
Slide 21: e& life
e& life Strong revenue traction across e& life segments in Q1’24 e& life Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) +57% 447 • e& life demonstrated strong -7% revenue 3% growth in Q1’2024-2% 3% attributable to both organic -20 and inorganic growth (+57% y/y) 285
Slide 22: e& life Key Highlights | Q1'24
e& life Key Highlights | Q1’24 Careem Technology MAU reached a record of 360o 1.7M+ 524K in Mar’24, 2.2M inc. rides (+31% YoY) RE-LAUNCH Downloads CAREEM FOOD ABU DHABI Successfully launched Food in Abu Dhabi in February 2024 1M+ 2X USERS MAU vs 2023 + 283% Growth from digital remittances over last
Slide 23: FY2024 Guidance
FY2024 Guidance: Overall Q1 performance is in line with full year guidance Q1 2024 Actual FY 2024 Guidance Revenue Growth Y-o-Y In Constant Currency (%) +7% Mid-Single Digit Telecom EBITDA Margin (%) 49% ~49% CAPEX Intensity Ratio (%) 12% ~16% Revenue Growth Y-o-Y In Constant Currency (%) +21% Stron
Slide 24: Restricted
Restricted
e& (Emirates Telecommunications Group Company PJSC) — Q1 2024 Earnings Presentation on 6ix