Vodafone Qatar Qsc · QSE:VFQS
Vodafone Qatar Qsc — Vodafone Qatar P.Q.S.C. — Q1 FY2024 Earnings Presentation
20 slides from Vodafone Qatar Qsc's earnings presentation, Apr 24, 2024
Slide 1: Vodafone Qatar Investor Presentation: Financial Performance Q1 2024
Vodafone Qatar P.Q.S.C. Investor Presentation Financial Performance: Three months ended 31 March 2024 C3 Confidential
Slide 2: Disclaimer
Disclaimer • The following presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. • This presentation may
Slide 3: Performance Highlights
Performance Highlights Hamad Al-Thani Chief Executive Officer
Slide 4: Key Messages
Key Messages Profitable Growth Stronger Market Critical Drivers of Our Results Despite Trend Continues Position Growth Challenging Environment FY24 Q1 Revenue QR806m 29.9% Revenue Market Share Network Coverage and Capacity Overall telco market declined +3.9% Y/Y in FY23 • Majority of the 5G sites up
Slide 5: Financial Performance
Financial Performance Masroor Anjum Chief Financial Officer
Slide 6: Key Highlights
Key Highlights Revenue growth Cost Continuing Robust underlying continues efficiency profitability growth growth in cash flows • Growth momentum • Despite growth in service • EBITDA QR 338m, 5.4% • 26.1% increase in continues with total revenue, operating increase YoY underlying operating cash reven
Slide 7: FY24 Q1 Year on Year: Persistent Topline and Profitability Growth
FY24 Q1 Year on Year ⋮ Persistent Topline and Profitability Growth Revenue Expenses EBITDA Net Profit +3.9% +2.8% +5.4% +12.5% • Total revenue grew QR 30m (+3.9%) led 806 469 338 150 by service revenue growth (+2.5%) and 776 456 320 103 2.5% higher handset sales 89 133 • Expenses higher primarily du
Slide 8: Service Revenue: Service revenue growth continues
Service Revenue ⋮ Service revenue growth continues Postpaid Prepaid Managed services, wholesale & Fixed Total service revenue FLAT FLAT +2.5% +8.1% 327 326 324 327 134 135 134 252 711 704 319 243 687 688 128 234 235 676 122 225 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4
Slide 9: Margin Trends: Improving efficiency and margins
Margin Trends ⋮ Improving efficiency and margins Reported Margin Underlying margin* +1.7ppts +1.3 ppts OPEX EBITDA 49 Net Profit Intensity Margin 48 Margin 46.7% 18.6% 47 46 45.2% 45.1% 17.4% 45 16.4% 29.0 28.7% 43.8% 44 28.5 +0.5 ppts 28.0 43 27.5 42 27.0 41 41.9% 13.0% 39.4% 41.3% 26.5 40 40.8% 26
Slide 10: Capital Expenditure: Investments driving profitable growth
Capital Expenditure ⋮ Investments driving profitable growth Capital expenditure (CAPEX) Return on capital employed (ROCE*) 160 18 150 +7.3 ppts +0.8 ppts 15.0% 16 140 11.5% 130 14 120 10.7% 110 12 110 10.8% 9.8% 100 10 90 8.3% 80 8 70 6.7% 59 6 60 49 3.3% 50 3.3% 4 40 4.2% 30 26 26 2 20 0 10 0 -2 FY
Slide 11: FY24 Q1 Year on Year: Generating strong cash flows
FY24 Q1 Year on Year ⋮ Generating strong cash flows Operating Cash flow* Net Debt Net Debt to EBITDA ** -4.9% -0.04x 288 570 0.46x 543 •1 Underlying operating cash flow increased 233 +26.1% 0.42x 26% reflecting strong collections and working 103 capital optimization initiatives 423 •2 Despite higher
Slide 12: FY24 Q1 Year on Year: Statutory results summary
FY24 Q1 Year on Year ⋮ Statutory results summary 31 Mar 24 31 Mar 23 YoY QR millions (unless otherwise stated) • Total revenue grew QR 30m (3.9%) led by Consumer revenue 405 397 8 service revenue growth (+2.5%) and higher Enterprise, equipment and other revenues 401 379 22 handset sales Total revenu
Slide 13: Key Financial Performance Indicators
Key Financial Performance Indicators Service Revenue Total Revenue EBITDA Net Profit 180 850 380 740 806 160 360 150 720 704 800 CAGR +10.5% 776 338 687 CAGR 700 CAGR 340 133 +14.0% 320 140 +8.5% CAGR 680 750 +33.0% 731 320 660 301 300 120 640 700 107 620 611 280 100 600 650 260 580 234 560 585 240
Slide 14: FY24 Guidance
FY24 Guidance FY23 FY24 Financial KPIs Results Guidance Total revenue QR 3,111m + YoY % EBITDA Margin 41.3% + 0.5 to 1 ppts Earnings Per Share (EPS) 0.128 +8% - 12% CAPEX intensity 17.7% 12% - 14% FY24 Q1 Financial Performance 24 April 2024 14
Slide 15: Q&A
Q&A
Slide 16: For more information visit our website
For more information visit our website: www.vodafone.qa/en/investor-relations Or email us: InvestorRelationsQatar@vodafone.qa
Slide 17: Consolidated Statement of Income
Consolidated Statement of Income Three months ended QR m (unless otherwise stated) 31 Mar 24 31 Mar 23 YoY Consumer revenue 405 397 8 Enterprise, equipment and other revenues 401 379 22 • Total revenue grew QR 30m (+3.9%) driven by growth Total revenue 806 776 30 in fixed revenue (+7.7%) and higher
Slide 18: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position QR m (unless otherwise stated) 31 Mar 24 31 Dec 23 Var Property, plant and equipment 1,874 1,934 (60) Assets Intangible assets 3,994 4,037 (43) • Property, plant & equipment and intangible assets decreased by Right-of-use assets 408 429 (20) QR 103m due t
Slide 19: Mobility Subscribers
Mobility Subscribers Postpaid Prepaid Total Mobility -2.3% -1.7% 573 +0.3% 1,582 2,149 1,545 2,094 2,099 2,097 2,114 570 1,522 1,529 1,531 569 567 566 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q1 Financial Performance
Slide 20: Mobility ARPU
Mobility ARPU Postpaid Prepaid Total Mobility +0.3% -2.5% -0.7% 190.8 189.9 187.8 190.7 191.3 29.5 28.9 73.5 72.2 72.1 28.2 70.3 71.5 28.0 26.7 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q1 Financial Performance ARPU i
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