Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q4 2022 Earnings Presentation
18 slides from Taiwan Mobile's earnings presentation, Feb 24, 2023
Slide 1: Taiwan Mobile Co., Ltd. 4Q22 Results Summary
Taiwan Mobile Co., Ltd. 4Q22 Results Summary February 24th 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: 2022 Highlights
2022 Highlights Solid top-line expansions across all 3 core engines Mobile Service Revenue* E-commerce Home Broadband +2.6% YoY +19% YoY +10% YoY Consolidated +4% YoY EBITDA *Mobile service revenue based on post-IFRS 15 numbers 4
Slide 5: Mobile – Growth Engine #1
Mobile – Growth Engine #1 2022 results Smartphone ARPU Postpaid Churn 682 0.96% 671 0.87% 667 0.84% 2020 2021 2022 2020 2021 2022 Upselling via Unique Bundles Disney+ momobile Double Play OP Life user contribution to e-commerce Footprint revenue 8.4% +18% YoY Dec 2022 5
Slide 6: momo – Growth Engine #2
momo – Growth Engine #2 Revenue EBITDA (NT$mn) YoY (NT$mn) YoY 103,436 +17% Total 88,397 5,393 +8% 4,992 Others 98,607 +19% E-commerce 83,066 4,275 4,699 +10% 2021 2022 2021 2022 Main + Satellite E-commerce E-commerce Warehouses (#) Total Transaction (#) EBITDA Margin 54 +15% 5.1% 4.8% +10 YoY YoY 2
Slide 7: Broadband – Growth Engine #3
Broadband – Growth Engine #3 4Q22 Basic TV Subscribers 4Q22 Penetration Rate ('000) Subscribers YoY 57.2% 63.5% 55.5% 45.7% TFNM 527 -1.9% Top 4 Top 4 TFNM MSO TFNM MSO Top 4 MSO 3,300 -2.0% DTV Broadband Source: Market intelligence Source: Market intelligence Revenue YoY EBITDA (NT$mn) 1,662 (NT$mn
Slide 8: Financial Overview
Financial Overview 8
Slide 9: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 4Q22 18.50 31.80 1.66 50.60 6.22 1.62 0.74 8.70 % of 37% 63% 3% 100% 72% 19% 8% 100% total 4Q22 5% 18% 6% 12% 3% 17% 0% 5% YoY 2022 65.69 103.44 6.33 172.21 25.54 5.39 2.96 34.38 % of 38% 60% 4% 100% 74% 1
Slide 10: Results Summary
Results Summary 4Q22 2022 NT$bn Amount YoY Amount YoY Revenues 50.60 12% 172.21 10% Cash Cost & Expense (41.91) 14% (137.83) 12% Operating Income 4.32 10% 16.89 5% Non-op. Income (Exp.) (0.47) 157% (0.70) 49% Pre-tax Income 3.85 3% 16.19 4% Net Income 2.47 0% 11.03 0% EPS1 (NT$) 0.88 0% 3.91 0% EBIT
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 4Q22 3Q22 4Q21 NT$bn 4Q22 3Q22 4Q21 Total Assets 193.07 189.03 190.98 Liabilities 120.22 119.73 117.71 Current Assets 41.44 36.43 38.65 Current Liabilities 69.57 64.77 59.49 - Cash & Cash Equivalents 14.93 11.79 15.40 - ST Debts 33.42 31.72 25.38 - Receivable & Contract
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 4Q22 4Q21 2022 2021 Operating 8.20 7.51 29.58 30.20 Investing (2.06) (0.15) (11.63) (9.64) Financing (3.00) (4.63) (18.41) (15.93) NT$bn 4Q22 4Q21 2022 2021 Pre-IFRS 16 Operating1 7.18 6.49 25.37 26.09 Cash CAPEX (1.79) 0.28 (9.63) (9.02) - momo (0.29) (0.29) (2.69) (0.64) F
Slide 13: Event Updates
Event Updates 13
Slide 14: Awards and Recognitions
Awards and Recognitions The first domestic telecom company to make it to the “Climate Change A List” by CDP for the 3rd time. Selected for the “Dow Jones Sustainability Indices (DJSI) World” for 6 consecutive years. Ranked Top 3 in the telecommunication services industry in the “DJSI World Index” an
Slide 15: 2023 Capex Guidance
2023 Capex Guidance Consolidated capex: NT$12.8bn Telecom: NT$5.03bn, with 5G capex decreasing YoY Cable TV: NT$0.92bn momo & others: NT$6.83bn, mainly for momo’s distribution center expansions 15
Slide 16: Board Resolutions
Board Resolutions Straight Bond Issuance On February 24, 2023, the Board resolved to issue an unsecured corporate straight bond with a total amount no larger than NT$6.5bn and a tenure of no longer than 10 years. 16
Slide 17: Key Message
Key Message In 2022, Taiwan Mobile delivered resilient results, with best-in-class top-line performance and 5% operating income growth. Telecom free cash flow expanded, alongside momo’s rising profits and strong cash position. Looking into 2023, we expect revenue growth momentum similar to recent le
Slide 18: Taiwan Mobile
SIBASAK Taiwan Mobile