Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q3 2023 Earnings Presentation
18 slides from Taiwan Mobile's earnings presentation, Nov 15, 2023
Slide 1: Taiwan Mobile Co., Ltd. 3Q23 Results Summary
Taiwan Mobile Co., Ltd. 3Q23 Results Summary Nov 15th 2023 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. (or hereafter the “Company”) undertakes no obligation to update
Slide 3: Business Overview
Business Overview 3
Slide 4: 3Q23 Highlights
3Q23 Highlights Solid top-line expansions across all 3 core sectors Mobile Service Revenue E-commerce Home Broadband Subs +7% YoY +7% YoY +5% YoY Consolidated +4% YoY EBITDA 4
Slide 5: Mobile – Growth Engine #1
Mobile – Growth Engine #1 3Q23 results Smartphone ARPU Mobile Service Revenue Monthly fee uplift from renewals 12.97bn 715 4G to 5G +44% 682 674 +10% Overall +2% 4G to 4G 3Q21 3Q22 3Q23 3Q19 3Q20 3Q21 3Q22 3Q23 3Q22 3Q23 5G: steady pace of smartphone subs penetration Smartphone with a long runway ah
Slide 6: momo – Growth Engine #2
momo – Growth Engine #2 Revenue EBITDA (NT$mn) YoY (NT$mn) YoY Total 23,558 25,075 +6% 1,159 1,221 +5% Others E-commerce 22,468 24,103 +7% +9% 1,026 1,119 3Q22 3Q23 3Q22 3Q23 Main + Satellite E-commerce E-commerce 0.08 Warehouses (#) Total Transaction (#) 15.00% EBITDA Margin -0.12 -0.32 10.00% 56 +
Slide 7: Broadband – Growth Engine #3
Broadband – Growth Engine #3 Cable Broadband Subscriber 3Q23 Penetration Rate (TFNM+Double Play) YoY 67.8% ≥300Mbps +57% 58.2% 59.1% 48.6% <300Mbps Top 4 Top 4 TFNM MSO TFNM MSO 3Q22 3Q23 DTV Broadband Source: Market intelligence Source: Market intelligence CATV Revenue YoY CATV EBITDA YoY (NT$mn) (
Slide 8: Financial Overview
Financial Overview 8
Slide 9: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 3Q23 17.22 25.07 1.56 43.19 6.69 1.22 0.74 8.75 % of 40% 58% 4% 100% 76% 14% 9% 100% total 3Q23 8% 6% 1% 7% 4% 5% 1% 4% YoY 2Q23 7% 4% 0% 5% 2% -2% 1% 1% YoY 1. The sum of each account of telecom, CATV and
Slide 10: Results Summary
Results Summary 3Q23 1~3Q23 NT$bn Amount QoQ YoY Amount YoY Revenues 43.19 -1% 7% 129.75 7% Cash Cost & Expense (34.44) -1% 8% (103.41) 8% Operating Income 4.30 -4% 5% 13.07 4% Non-op. Income (Exp.) (0.16) 21% nm (0.53) 128% Pre-tax Income 4.13 -5% 1% 12.54 2% Net Income 2.94 -3% 3% 8.69 2% EPS1 (NT
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 3Q23 2Q23 3Q22 NT$bn 3Q23 2Q23 3Q22 Total Assets 187.56 186.39 189.03 Liabilities 118.97 120.51 119.73 Current Assets 37.95 36.29 36.43 Current Liabilities 60.56 63.15 64.77 - Cash & Cash Equivalents 11.02 11.23 11.79 - ST Debts 27.02 18.55 31.72 - Receivable & Contract
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 3Q23 2Q23 3Q22 Operating 7.85 8.71 7.03 Investing (2.91) (2.06) (1.89) Financing (4.99) (9.67) (8.62) NT$bn 3Q23 2Q23 3Q22 Pre-IFRS 16 Operating1 6.78 7.65 5.94 Cash CAPEX (2.17) (2.12) (1.81) Free Cash Flow 4.61 5.52 4.13 1. “Lease expenses” previously under operating activ
Slide 13: Event Updates
Event Updates 13
Slide 14: TWM - TST Merger Update
TWM - TST Merger Update • The Fair Trade Commission conditionally approved the merger of Taiwan Star into Taiwan Mobile on October 11th, 2023. • NCC had previously granted conditional approval on January 18th, 2023. • Currently at the final phase of issuing new shares to TST shareholders (204mn shar
Slide 15: Post-Merger Network Consolidation
Post-Merger Network Consolidation Combined Sub 6GHz Spectrum Holdings (MHz) Areas of Savings TWM T Star Electricity: shutting down TST’s 3G network and part of TST’s 4G equipment TDD 60 40 3500 (n78) Rental: removal of TST's 4G sites Capex: inclusion of TST’s 5G equipment FDD 40 20 30 10 40 40 Other
Slide 16: Awards and ESG Recognitions
Awards and ESG Recognitions 1st & only #2 #3 telecom company in Asia to Climate Leaders Commonwealth Talent have its 1.5°C-aligned in the Asia Pacific region Sustainability Award science-based targets to & the only Taiwan Top 10 reach Net Zero by 2050 telecom company Excellence in validated by SBTi.
Slide 17: Key Message
Key Message As our flywheel continued to pick up speed, Taiwan Mobile delivered a solid set of operating results in the third quarter, with growth acceleration seen in our core business. Steady rise in 5G penetration, our unique bundles and Telco+Tech strategies, win-win collaborations with group co
Slide 18: SIBASAK
SIBASAK Taiwan Mobile