Slide 1: Sky Annual Results 2015
For personal use only SKY ANNUAL RESULTS 2015 |
Slide 2: Revenue
REVENUE For personal use only Millions 950 928 909 900 885 850 843 797 800 750 700 2011 2012 2013 2014 2015 | © SKY 2015 Annual Results 2015
Slide 3: Total ARPU
TOTAL ARPU For personal use only $85.00 $79.54 $80.00 $77.52 $75.83 $75.00 $71.93 $70.45 $70.00 $67.61 $65.00 $60.00 $55.00 $50.00 2010 2011 2012 2013 2014 2015 | © SKY 2015 Annual Results 2015
Slide 4: Sky Premium Products Ratio
SKY PREMIUM PRODUCTS RATIO For personal use only 3.71 3.69 HD ACCESS TICKET Jun-14 Jun-15 | © SKY 2015 Annual Results 2015
Slide 5: Advertising Revenue
ADVERTISING REVENUE For personal use only Millions 80.0 70.0 60.0 23.3 27.3 24.3 26.4 50.0 23.7 40.0 30.0 43.9 41.6 43.2 45.2 20.0 39.0 10.0 - 2011 2012 2013 2014 2015 Sky Prime | © SKY 2015 Annual Results 2015
Slide 6: Total Television Advertising Revenue
For personal use only 0% 5% 10% 15% -20% -15% -10% -5% Jun 08 Qtr Sep 08 Qtr Dec 08 Qtr Mar 09 Qtr Jun 09 Qtr (YOY QUARTERLY CHANGE) Sep 09 Qtr Dec 09 Qtr Mar 10 Qtr | © SKY 2015 Annual Results 2015 Jun 10 Qtr Sep 10 Qtr Dec 10 Qtr Mar 11 Qtr Jun 11 Qtr Sep 11 Qtr Dec 11 Qtr Mar 12 Qtr Jun 12 Qtr Se
Slide 7: The Year End Position
THE YEAR END POSITION For personal use only June 2014 June 2015 % Change Residential Digital 321.7 258.3 (19.7%) Residential MYSKY 504.7 549.9 9.0% Commercial & Other 38.6 43.3 12.2% TOTAL SUBSCRIBERS 865.1 851.6 (1.6%) | © SKY 2015 Annual Results 2015
Slide 8: Total Disconnects
TOTAL DISCONNECTS (WEEKLY FOR THE YEAR ENDING JUNE 15) For personal use only 3.0 2.5 2.0 2012/13 1.5 2013/14 2014/15 1.0 Thousands 0.5 0.0 | © SKY 2015 Annual Results 2015
Slide 9: Moving Annual Churn
For personal use only 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% Jun-98 Oct-98 Feb-99 Jun-99 Oct-99 Feb-00 Jun-00 Oct-00 Feb-01 Jun-01 Oct-01 Feb-02 | © SKY 2015 Annual Results 2015 Jun-02 Oct-02 Feb-03 Jun-03 Oct-03 Feb-04 Jun-04 Oct-04 Feb-05 Jun-05 Oct-05 Feb-06 Jun-06 Oct-06 Feb-07 Ju
Slide 10: Programming Costs % Revenue
PROGRAMING COSTS % REVENUE For personal use only 34% 32% 30% 33% 32% 31% 32% 28% 32% 26% 24% 22% 20% 2011 2012 2013 2014 2015 | © SKY 2015 Annual Results 2015
Slide 11: EBITDA
EBITDA For personal use only 390.0 Millions 379.0 379.8 380.0 370.0 360.0 353.1 350.0 340.0 336.0 330.0 321.7 320.0 310.0 300.0 290.0 2011 2012 2013 2014 2015 | © SKY 2015 Annual Results 2015
Slide 12: Net Profit
NET PROFIT For personal use only Millions 200.0 180.0 171.8 161.4 160.0 137.2 140.0 120.3 123.7 120.0 100.0 80.0 60.0 40.0 20.0 - 2011 2012 2013 2014 2015 | © SKY 2015 Annual Results 2015
Slide 13: Financial Detail
For personal use only FINANCIAL DETAIL
Slide 14: Results Summary
RESULTS SUMMARY For personal use only 2014 2015 % Change Revenue 909.0 927.5 2.0% Operating Expenses 530.0 547.7 3.3% EBITDA 379.0 379.8 0.2% Depn & Amort 126.1 119.2 (5.5%) EBIT 252.9 260.6 3.0% Interest 28.4 21.7 (23.6%) Tax 63.1 67.1 6.3% NET PROFIT after TAX 161.4 171.8 6.4% | © SKY 2015 Annual
Slide 15: Revenue Analysis
REVENUE ANALYSIS For personal use only 2014 2015 % Change Residential Satellite 744.9 760.0 2.0% subscriptions Other subscriptions 64.5 71.2 10.4% Installation 8.2 7.0 (14.6%) Advertising 70.5 69.5 (1.4%) Other Income 20.9 19.8 (5.3%) TOTAL REVENUE 909.0 927.5 2.0% | © SKY 2015 Annual Results 2015
Slide 16: Expense Analysis
EXPENSE ANALYSIS For personal use only 2014 2015 % Change Programming 280.0 296.6 5.9% Subscriber related costs 104.7 107.1 2.3% Broadcasting and 88.5 91.2 3.1% infrastructure Depreciation and amortisation 126.1 119.2 (5.5%) Other costs 56.8 52.9 (6.9%) TOTAL EXPENSE 656.1 667.0 1.7% | © SKY 2015 An
Slide 17: Capital Expense Analysis
CAPITAL EXPENSE ANALYSIS For personal use only 2014 2015 % Change Install 36.9 29.7 (7.2%) Decoders 20.6 22.8 10.7% Other 35.5 63.0 77.5% TOTAL CAPITAL 93.2 115.5 23.9% EXPENSE | © SKY 2015 Annual Results 2015
Slide 18: Operating Cashflow
OPERATING CASHFLOW For personal use only 2014 2015 % Change Operating Cashflow 305.3 282.9 (7.3%) Capex -93.0 -115.5 24.2% Net debt drawn/(repaid) -92.0 -30.0 (67.4%) Dividends -112.8 -131.1 16.2% Other -8.3 -8.3 0.0% NET CASH MOVEMENT -0.8 -2.0 (1.5%) | © SKY 2015 Annual Results 2015
Slide 19: Funding Profile
FUNDING PROFILE For personal use only FACILITY DRAWN MARGIN MATURITY Bank Debt $250m $40m 145bp Jul 2020 Bond - A $200m $200m 65bp Oct 2016 Fixed rate at Bond - B $100m $100m Mar 2021 6.25% | © SKY 2015 Annual Results 2015
Slide 20: Foreign Currency Hedging
FOREIGN CURRENCY HEDGING For personal use only For USD exposures 93% hedged for 30 June 2016 @ 0.7529 42% hedged for June 2017 year @ 0.7284 41% hedged for June 2018 year @ 0.7060 For AUD exposures 92% hedged for 30 June 2016 @ 0.9155 44% hedged for 30 June 2017 @ 0.9360 Average $US payment rate for
Slide 21: Dividend
DIVIDEND For personal use only The Board has declared a fully imputed final dividend of 15.0 cps ($58.4m) to be paid and a supplementary dividend of 2.6471 to be paid to non-residents. Record date is 4 September 2015. Payment date is 11 September 2015. 2015 2014 2013 2012 2011 2010 2009 2008 Interim
Slide 22: Strategy
For personal use only STRATEGY
Slide 23: New Media
For personal use only NEW MEDIA NEON TRADITIONAL IGLOO SKY FAN PASS SKY GO © SKY 2015 Annual Results 2015
Slide 24: For personal use only
For personal use only Game of Thrones. ©2015 Home Box Office, Inc. All Rights Reserved. © SKY 2015 Annual Results 2015
Slide 25: The Sky Journey So Far
THE SKY JOURNEY SO FAR For personal use only UHF Std SKY Wholesale SKY MY SKY Other | © SKY 2015 Annual Results 2015
Slide 26: Churn by Device
CHURN BY DEVICE For personal use only 1.8% 1.6% 1.4% 1.2% 1.0% 0.8% 0.6% Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 MYSKY SKY | © SKY 2015 Annual Results 2015
Slide 27: For personal use only
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Slide 28: New Media
For personal use only NEW MEDIA NEON TRADITIONAL IGLOO SKY FAN PASS SKY GO © SKY 2015 Annual Results 2015
Slide 29: For personal use only
For personal use only © SKY 2015 Annual Results 2015
Slide 30: For personal use only
For personal use only Tinkerbell ©Disney. Available on SKY Movies Disney from July 2015. |
Slide 31: For personal use only
For personal use only Oprah: Where are They Now. American Chopper: Senior vs Junior. |
Slide 32: For personal use only
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Slide 33: For personal use only
For personal use only |
Slide 34: For personal use only
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Slide 35: For personal use only
For personal use only © SKY 2015 Annual Results 2015
Slide 36: Watch on... and on... and on...
For personal use only WATCH ON... AND ON... AND ON... | © SKY 2015 Annual Results 2015
Slide 37: For personal use only
For personal use only © SKY 2015 Annual Results 2015
Slide 38: For personal use only
For personal use only |
Slide 39: For personal use only
For personal use only © SKY 2015 Annual Results 2015
Slide 40: Sky Annual Results 2015
For personal use only SKY ANNUAL RESULTS 2015 |