Taiwan Mobile Co., Ltd. · TWSE:3045
Taiwan Mobile — Q2 2023 Earnings Presentation
17 slides from Taiwan Mobile's earnings presentation, Aug 7, 2023
Slide 1: Taiwan Mobile Co., Ltd. 2Q23 Results Summary
Taiwan Mobile Co., Ltd. 2Q23 Results Summary Aug 7th 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: 2Q23 Highlights
2Q23 Highlights Solid top-line expansions across all 3 core engines Mobile Service Revenue* E-commerce Home Broadband +6% YoY +6% YoY +6.5% YoY Consolidated EBITDA Record High *Mobile service revenue based on IFRS 15 numbers 4
Slide 5: Mobile – Growth Engine #1
Mobile – Growth Engine #1 2Q23 results Smartphone ARPU Postpaid Churn Upselling via Unique Bundles 700 0.87% 0.84% momobile Double Play 681 667 0.73% + 2Q21 2Q22 2Q23 2021 2022 1H23 Unique Bundle Users Disney+ OP Life 21% 17% as a percentage of smartphone 11% postpaid users 2Q22 4Q22 2Q23 5
Slide 6: momo – Growth Engine #2
momo – Growth Engine #2 Revenue EBITDA (NT$mn) YoY (NT$mn) YoY Total 25,138 26,212 +4% 1,314 1,290 -2% Others E-commerce 23,894 25,229 +6% 1,144 1,170 +2% 2Q22 2Q23 2Q22 2Q23 Main + Satellite E-commerce E-commerce 0.08 Warehouses (#) Total Transaction (#) 15.00% EBITDA Margin -0.12 -0.32 10.00% 55 +
Slide 7: Broadband – Growth Engine #3
Broadband – Growth Engine #3 Cable BB Subscriber 2Q23 Penetration Rate (TFNM+Double Play) YoY 66.4% 57.9% 57.9% ≥300Mbps +65% 47.5% <300Mbps Top 4 Top 4 TFNM MSO TFNM MSO 2Q22 2Q23 DTV Broadband Source: Market intelligence Source: Market intelligence Revenue EBITDA YoY (NT$mn) (NT$mn) 754 +1% Total
Slide 8: Financial Overview
Financial Overview 8
Slide 9: Performance by Business
Performance by Business Revenue EBITDA NT$bn Telecom momo CATV Total1 Telecom momo CATV Total1 2Q23 16.41 26.21 1.57 43.55 6.75 1.29 0.75 8.91 % of 38% 60% 4% 100% 76% 14% 8% 100% total 2Q23 7% 4% 0% 5% 2% -2% 1% 1% YoY 1Q23 8% 10% 1% 8% 3% 6% -1% 3% YoY 1. The sum of each account of telecom, CATV a
Slide 10: Results Summary
Results Summary 2Q23 1H23 NT$bn Amount QoQ YoY Amount YoY Revenues 43.55 1% 5% 86.56 7% Cash Cost & Expense (34.64) 1% 6% (68.97) 8% Operating Income 4.48 4% 2% 8.77 3% Non-op. Income (Exp.) (0.14) -41% 12% (0.36) 52% Pre-tax Income 4.34 7% 2% 8.41 2% Net Income 3.04 12% 1% 5.75 1% EPS1 (NT$) 1.08 1
Slide 11: Balance Sheet Analysis
Balance Sheet Analysis NT$bn 2Q23 1Q23 2Q22 NT$bn 2Q23 1Q23 2Q22 Total Assets 186.39 191.46 191.30 Liabilities 120.51 115.34 125.35 Current Assets 36.29 40.43 38.95 Current Liabilities 63.15 64.24 71.16 - Cash & Cash Equivalents 11.23 14.26 15.28 - ST Debts 18.55 31.37 25.67 - Receivable & Contract
Slide 12: Cash Flow Analysis
Cash Flow Analysis NT$bn 2Q23 1Q23 2Q22 Operating 8.71 4.81 7.73 Investing (2.06) (2.61) (4.67) Financing (9.67) (2.88) (2.44) NT$bn 2Q23 1Q23 2Q22 Pre-IFRS 16 Operating1 7.65 3.66 6.70 Cash CAPEX (2.12) (2.37) (3.73) Free Cash Flow 5.52 1.29 2.97 1. “Lease expenses” previously under operating activ
Slide 13: Event Updates
Event Updates 13
Slide 14: Awards and ESG Recognitions
Awards and ESG Recognitions Overall Asia Rest of Asia (ex-China) #1 in telecom sector & Most Honored Company #1 in telecom sector & Most Honored Company for 2 years in a row #1 in Best CEO, Best CFO, Best IR Program, Best IR Team, Best ESG, Best Company Board #1 in all categories → “All-Star” status
Slide 15: 2023 Capex Budget Additions
2023 Capex Budget Additions On August 4, 2023, the Board approved network related capex budget additions for 2023. Total capex budget will be NT$15.653bn, with actual cash payments subject to the actual progress of the network deployment. 15
Slide 16: Key Message
Key Message TWM continues to fire on all cylinders, with our unique bundles momobile, Double Play, Disney+ and OP Life propelling our telecom service revenue. Coupled with steady growth in e-commerce and home broadband, our 2Q23 consolidated EBITDA reached an all-time high. Free cash flow also went
Slide 17: Taiwan Mobile
SIBASAK Taiwan Mobile