Emirates Integrated Telecommunications Company Pjsc · DFM:DU
Emirates Integrated Telecommunications Company Pjsc — Q1 2015 Earnings Presentation
19 slides from Emirates Integrated Telecommunications Company Pjsc's earnings presentation, April 2015
Slide 1: Q1 2015 Results
Q1 2015 Results Emirates Integrated Telecommunications Company PJSC April 2015
Slide 2: Contents
Contents Slide Highlights of Quarter 1 2015 Results 3 Market Information 5 Financial Summary 7 2
Slide 3: Q1 Financial Highlights
Q1 Financial Highlights Total Revenue EBITDA Net Profit before Free Cash Flow Mobile subscribers (AED M) Royalty (AED M) Quarterly (AED M) (000s) (AED M) +3.2% +9.7% +6.9% 79.2% -0.9% 867 1,299 7,550 3,051 7,485 2,955 925 484 1,184 865 Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 2014 Q1 2015
Slide 4: Contents
Contents Slide Highlights of the Q1 2015 Results 3 Market Information 5 Financial Summary 7 4
Slide 5: Market Overview
Market Overview Market share consolidation – emphasis on growing revenue share UAE Mobile Subscribers - Market share quarterly evolution UAE Telecom Market - Revenue share quarterly evolution 60.0% 80.0% 70.0% 70.3% 55.0% 54.2% 60.0% 50.0% 50.0% 45.0% 45.8% 40.0% 40.0% 30.0% 29.7% 20.0% 35.0% Etisal
Slide 6: Contents
Contents Slide Highlights of the Q1 2015 Results 3 Market Information 5 Financial Summary 7 6
Slide 7: Total Revenues
Total Revenues Healthy growth in fixed business and postpaid mobile Quarterly Revenue (AED M) Like for Like Revenue Breakdown Quarter Change (AED M) (22) [VALUE] 9 3,051 3.2% 2,955 3,225 4 105 3,024 3,034 3,051 2,955 4.2% 109.8% -22.9 -0.1% 9.1% Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Full Year Reve
Slide 8: Revenue Drivers – Mobile
Revenue Drivers – Mobile Growth in quarterly subscribers and stable Mobile ARPU Quarterly Mobile Revenues (AED M) Year on Year Mobile Revenues (AED M) +0.1% 9,161 2,435 8,365 2,228 2,263 2,235 2,231 2,228 2,231 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 FY 2013 FY 2014 Q1 2014 Q1 2015 Mobile Subscriber
Slide 9: Revenue Drivers – Mobile Data
Revenue Drivers – Mobile Data Data revenues continue its growth trend along with global demand for data Quarterly Mobile Data Revenues (AED M) Yearly Mobile Data Revenues (AED M) 14.4% 3,000 2,759 40.0% 1,000 35.0% 2,364 35.0% 759 716 750 686 688 30.0% 626 2,000 31.2% 30.0% 25.0% 30.9% 500 29.4% 29.
Slide 10: Revenue Drivers – Fixed
Revenue Drivers – Fixed Strong performance in fixed business Fixed line subscription Quarterly Fixed Revenue (AED M) Yearly Fixed Line Subscribers (‘000) +6.0% +20.5% 616 651 598 595 511 541 639 626 619 614 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Full Year Fix
Slide 11: Revenue Drivers – Broadcast & Wholesale
Revenue Drivers – Broadcast & Wholesale Growth of 24% in national wholesale Quarterly Broadcast Revenues (AED M) Quarterly Wholesale Revenues (AED M) -0.2% -12.7% 41 41 173 177 40 41 41 155 151 149 37 58 52 52 46 136 120 104 97 106 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1 2014 Q2 2014 Q3 2014 Q4 2
Slide 12: Gross Margin
Gross Margin Strong gross margin performance Quarterly Gross Margin (AED M) and Gross Margin % Yearly Gross Margin (AED M) and Gross Margin % +9.0% 9,000 100.0% 8,108 8,000 90.0% 2,200 80.0% 2,145 7,247 2,150 7,000 80.0% 2,088 6,000 66.3% 68.4% 2,100 75.0% 64.8% 70.0% 2,037 5,000 2,050 2,012 67.1% 6
Slide 13: Operating Expenses
Operating Expenses Maintained efficiencies along with continued drive for improved performance Quarterly Operating Expenses (AED M) Year on Year Operating Expenses (AED M) 2,000 1,956 100.0% 8,000 100.0% 1,771 7,208 1,731 1,751 1,752 1,800 90.0% 7,000 6,493 80.0% 1,600 80.0% 6,000 1,400 70.0% 1,200
Slide 14: Profitability
Profitability Increased profitability from EBITDA and Net Profit before Royalty Quarterly EBITDA (AED M) Quarterly Net Profit before Royalty* (AED M) +9.7% +6.9% 1,350 44.0% 1,293 1,000 40.0% 1,284 1,299 43.0% 972 1,300 949 42.8% 1,269 42.0% 42.6% 950 925 35.0% 42.3% 41.0% 916 1,250 40.1% 40.0% 900
Slide 15: Net Profit after Royalty
Net Profit after Royalty Quarterly Net Profit after Royalty (AED M) Quarterly Royalty Compared (AED M)* -0.6% 460 47.3% 50.0% 600 44.4% 24.0% 43.3% 42.2% 42.2% 559 440 45.0% 548 22.0% 438 550 420 40.0% 513 20.0% 490 487 500 18.0% 400 410 407 35.0% 18.1% 18.4% 401 16.0% 380 30.0% 16.6% 16.0% 450 15.9
Slide 16: Capital Investments
Capital Investments Substantial investments to provide enhanced network experience to users Quarterly CapEx Additions (AED M) Yearly CapEx Additions (AED M) +78.4% 2,000 20.0% 1,800 1,659 18.0% 760 1,564 1,600 16.0% 1,400 14.0% 493 1,200 14.5% 13.6% 12.0% 6.8% 1,000 10.0% 289 800 8.0% 207 600 3.9% 6
Slide 17: Cash & Debt Overview
Cash & Debt Overview Quarterly Free Cash Flow (AED M) Year on Year Free Cash Flow (AED M) 2,000 1,200 5,000 2,329 2,500 1,125 922 867 1,000 1,500 4,000 2,000 800 2,188 484 1,000 600 3,000 1,607 1,500 1,438 400 500 2,000 3,853 867 200 1,000 886 1,337 1,000 484 0 (78) - 3,797 886 1,337 (402) (482) 500
Slide 18: Appendix I – New definition of ARPU and Mobile Data
Appendix I – New definition of ARPU and Mobile Data Mobile Data Old Definition Mobile Data New Definition* 1000 35.0% 1,000 35.0% 767 759 696 692 720 688 716 750 639 750 686 30.0% 626 31.5% 31.1% 30.0% 31.2% 30.9% 500 29.8% 29.6% 500 29.4% 29.4% 28.2% 25.0% 27.6% 25.0% 250 250 0 20.0% 0 20.0% Q1 201
Slide 19: Disclaimer
Disclaimer • Emirates Integrated Telecommunications Company PJSC (hereafter ”du”) is a telecommunication services provider in the UAE. • du cautions investors that certain statements contained within this document state management’s intentions, hopes, beliefs, expectations or predictions of the futu
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