Corporate Presentationpds20.egloos.com/pds/201007/14/85/TelkomQ12010.pdf · 3 Double Digit Growth...
Transcript of Corporate Presentationpds20.egloos.com/pds/201007/14/85/TelkomQ12010.pdf · 3 Double Digit Growth...
Corporate Presentation
The Result of
Q1 2010
2
Disclaimer
This document contains financial conditions and result of operation, and may
also contain certain projections, plans, strategies, and objectives of the
Company, which would be treated as forward looking statements within the
meaning of applicable law.
Forward looking statements, by their nature, involve risk and uncertainty that
could cause actual results and development to differ materially from those
expressed or implied in these statements.
Telkom Indonesia does not guarantee that any action, which should have been
taken in reliance on this document will bring specific results as expected.
3
Double Digit Growth on Net Income in Q1 / 2010
TelkomGroup
revenue
6.2%,6.2%,
EBITDA
5.5%,5.5%,
and Net Income
13% 13% YoYYoY
Cellular and Internet businesses well performed
Data, Internet & IT revenue grows 24.7%24.7%
YoYYoY
Cellular revenue grows 3.0% 3.0% YoYYoY
Fixed line voice revenue decline rate was stemmed at minus 14.2% minus 14.2%
(compared to minus 16% in 2009)
The growth in Data, Internet & IT revenue reflects the gradual increasing result of
company’s strategy in growing new wave businesses
Cost management showed tangible result in Q1/2010
Growth QoQ
(Q4/09 –
Q1/10)
Op. Expenses (Rp.Tn) 16.3%
Personnel 32.9%
O&M 13.3%
Interconnection 10.8%
G & A 17.0%
Marketing 45.5%
Depreciation 0.2%
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Content
Telkom Indonesia in Brief
Telco Industry in Indonesia
Business Results (Operational & Financial)
5
Telkom Board of Directors
Rinaldi Firmansyah
President
Director
(CEO)
Sudiro Asno
Director of
Finance(CFO)
Faisal Syam
Director of
Human Capital &
General Affair
I Nyoman G Wiryanata
Director of
Consumers
Indra
Utoyo
Director of
Information
Technology
& Supply
(CIO)
Ermady Dahlan
Director of
Network &
Solution(COO)
Arief Yahya
Director of
Enterprise &
Wholesale
Prasetio
Director of
Compliance &
Risk
Management
6
Telkom’s Map of Operations
Full National coverage: 33 provinces and 440 districts
Bandung(Head Office)
7
Telkom Ownership
Telkom is the largest telecommunication company and
network provider in Indonesia, majority owned by the
Government of Indonesia
(Total shares = 20,159,999,280, including 1 Dwiwarna share series A)
Government
Public
52.47%
10,320,470,712
shares
Treasury Stock
490,574,500
shares
47.53%
9,348,954,068
shares
Market cap : Rp162TnRp162Tn, or 7.2%7.2%
of total market cap. at IDX
Indonesia
TELKOM is listed at
Indonesia Stock Exchange (IDX), New
York Stock Exchange (NYSE), London
Stock Exchange (LSE)
and also Publicly
Offering Without Listing (POWL) at
Tokyo Stock Exchange (TSE)as of March 31, 2010
8
Telkom Market Capitalization
8.0%
13.5%14.5% 14.8% 14.3% 14.8%
16.3%
10.3%
12.9%
9.4%
7.2%
2132 39
68
97119
205191
162204
139
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q10
Market Cap TLKM of IDX (%)Market Cap (Rp Tn)
67,868
34,617
24,4893,786
33,659
16,52210,197
NTT DoCoMo Telstra SingTel Bharti Telkom PLDT TM Berhad
Telkom market cap
among Telco Operators
Source : Bloomberg, May 6, 2010Source : Bloomberg, May 6, 2010
Telkom market cap history in IDX
Source : IDX Monthly ReportSource : IDX Monthly Report
(in USD Million)
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Telkom and Subsidiaries (ownership)
Government of Indonesia
Public/Listed
52.47%52.47% 47. 53%47. 53%
100%100%100%100% 99.99%99.99%65%65%
(Cellular)(Cellular)
100%100%
(Tower business)(Tower business)(Multimedia)(Multimedia)
100%100%
(IT Services)(IT Services)
(Property & construction)(Property & construction)(Edutainment)(Edutainment)
100%100%
(International business)(International business)
(Fixed Line)(Fixed Line)(VSAT)(VSAT) (Telco. construction& maintenance)(Telco. construction& maintenance)
Consolidated100%100%
(Telco Equipment)(Telco Equipment)
Unconsolidated
5%5%
(Satellite)(Satellite)
22.38%22.38%25%25%
(VSAT)(VSAT)
40%40% 2.11%2.11%
15.86% 100%80% 100%75%60%65%
100%
AWI B.VAWI B.V
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Telkom’s Business Portfolio
ProductPortfolio
FWL/POTS
FWA
Mobile/Cellular
Broadband
Satellite
Tower
Premise Integration
E‐Money
Media: PayTV
& FTA
Content/Portal
CustomerPortfolio
Consumer
SME
Enterprise
Wholesale
Geography
Domestic
International
TI
M
E
2
1
3
IT Services(Managed
App &
Perf, IT Outsourcing) & BPO/KPO Geography coverage for international investment
is basically all over the world, however for the
initial investment, Asia and Middle‐East will be the
priority.
T
I
M
E
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Content
Telkom Indonesia in Brief
Telco Industry in Indonesia
Business Results (Operational & Financial)
12
Indonesia’s Telco Industry Landscape
There are 11 operators serving more than 234 Mn
population, in which 56% of them
are young dynamic population…
9%
27%8%
56%
0-1415-1920-5960+
Population by Age
Indonesia population
Population: approx. 234
million +
Young dynamic population 56%
OperatorsOperators
13
Telco Penetration
as of March 31, 2010
Total Industry
± 8.4 mn ± 28 mn ± 180 mn ± 3.9 mn
Cellular (full mobility)
Fixed Wireline
Fixed Wireless
(limited mobility)
Broadband
Penetration
4%Penetration 77%
Penetration
2%
Source: internal market researchSource: internal market research
Penetration
12%
Telkom Market Share
99%
57%
46%
71%
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Content
Telkom Indonesia in Brief
Telco Industry in Indonesia
Business Results (Operational & Financial)
15
Cellular
Business
1Q/09 1Q/10Growth
(%)
Cellular
Subscribers (mn) 72.1 82.0 14%
BTS (unit) 27,800 32,243 16%
MoU
(Bn
minutes) 33.1 27.8 16%
MoU/Subs/Month (mnt) 161 114 30%
ARPU –
blended (Rp’000) 47 43 9%
Revenue (Rp
Bn) 8,585 9,101 6%
As of March 31, 2010,
Telkomsel
maintained its
leading position in the cellular
market with 82 mn subscribers
reflecting
46%46%
full mobility
market share in Indonesia.
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Broadband
Services
1Q/09 1Q/10Growth
(%)
Fixed wireline
broadband / Speedy:
Subscribers (‘000) 716 1,283 79%
ARPU (Rp’000) 278 233 16%
Revenue (Rp
Bn) 573 830 45%
Mobile broadband / Flash:
User (‘000) 302 2,134 607%
ARPU (Rp’000) ‐ 37 ‐
Revenue (Rp
Bn) 251 690 175%
Broadband services grew
significantly in 1Q/2010
17
Fixed Wireless Business
1Q/09 1Q/10Growth
(%)
Fixed Wireless / Flexi
Subscribers (mn) 13.4 15.9 19%
BTS (unit) 4,540 5,543 22%
MoU
(Bn
minutes) 4.2 3.1 27%
MoU/Subs/Month (mnt) 107 66 38%
ARPU –
blended (Rp’000) 23 17 25%
Revenue (Rp
Bn) 694 673 3%
Flexi maintained its
leading position in
CDMA limited mobility
service with 57% 57%
market share
18
Fixed Wireline
Business
1Q/09 1Q/10Growth
(%)
Fixed Wireline
Line in Service/LIS (mn) 8.7 8.4 3%
ARPU (‘000) 114 106 7%
Revenue (Rp
Bn) 2,981 2,799 6%
As a part of our strategy to mitigate the decrease of fixed wireline
revenue,
we launched a fixed business improvement program / FBIP.
As of March 31, 2009, there were 1.8 1.8 mnmn
subscribers enrolled in the FBIP
(reflecting 22% of total wireline
subs).
The total incremental revenue in Q1/2010 generated by FBIP was Rp85 Rp85 BnBn
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Financial Highlights
Q1/09 *) Q1/10 Growth YoY
(%)
Op. Revenues (Rp.Tn) 15.6 16.6 6.2%
Op. Expenses (Rp.Tn) 10.3 11.3 9.1%
EBITDA (Rp
Tn) 8.6 9.0 5.5%
Net Income (Rp
Tn) 2.5 2.8 13.0%
CAPEX (Rp
Tn) 3.04 3.06 0.8%
CAPEX to Revenue (%) 19.5 18.5 1.0%
ROA (%) 2.7 2.9 0.2%
Debt to Equity/DER (%) 49.6 46.9 2.7%
Net Debt to Equity/Gearing (%) 31.0 29.8 1.2%
In tight competition,
operating revenues increased by 6.2%6.2%
Note:Note:••
In 2010, we present operating revenues from interconnection on aIn 2010, we present operating revenues from interconnection on a
gross basis with interconnection gross basis with interconnection
charges are presented as part of operating expensescharges are presented as part of operating expenses••
*) re*) re‐‐class to grossclass to gross
20
Revenues and Expenses Contributions
42%
26%23%
7%
40%
30%
20%
6% 2% 1%2% 2%
Cellular Data,internet & IT
Fixed line Intercon Network Others
1Q/09 1Q/10
Expense
was manageable,
and
personnel expense has decreased by
1.6%
Expense contribution to
total expenses Rp11.3 Rp11.3 TnTn
In Q1/2010, data, internet & IT
services revenues contributed 30%30%
to total revenues (increased by 4%)
Revenue contribution to
total revenues Rp16.6 Rp16.6 TnTn
34%
29%
8%
4%
18%
7%
35%
30%
9%
4%
17%
6%
O&M Depreciation G&A Marketing Personnel Interconnection
1Q/09 1Q/10
6.5 6.7
4.0 5.0
3.6 3.3
1.1 1.00.3 0.3 0.2 0.3
3.5 4.0
3.0 3.4
0.8 1.0
0.4 0.4
1.9 1.9
0.7 0.7
21
Our New Wave business has grown
significantly (33%)
…and the contribution to total revenues
reached
14%
(Q1/2010)
from 11% (Q1/2010)
Legacy and New Wave Revenues
13,849 14,243
1,7702,344
Q1/09 Q1/10
Total (Rp. Bn)
15,618 16,587
New Wave Business
33%
Legacy Business
3%
The increasing emphasis on the new wave business
was the foundation for the Company’s transformation
as of March 31, 2010
22Capacity
Others
Q1/09 Q1/10
Support & IJPA
Legacy
Capital Expenditure
38%3%
76%
54%
21%8%
Q1/09 Q1/10
Telkomsel
Capex
(Rp Bn)
1,517 2,086
Our Capex
to Operating Revenue decreased
from
19.5% (Q1/2009) to 18.5%
(Q1/2010)
TELKOM
Rp912 bn
TELKOMSEL
Rp2,086 bn
47%
50%
30%
68%
Total (Rp Bn)
3,040 3,063
Other subsidiaries
Rp65 bn
(2%)
New Wave & infrastructure
50%50%
40%
40%
1%
1%
Q1/09 Q1/10
Telkom
Capex
(Rp Bn)
1,431 912
Coverage & Quality
23
Consolidated Debt
To minimize impact on forex
fluctuation, the company has reduced
foreign debt portion from 29.9% in Q1/2009 to 16.8% in Q1/2010
Forex
Debt in US$
has decreased by
10.9%
in Q1/2010
Q1/09 Q1/10
70.1%
83.1%
19,59518,235Total (Rp. Bn)
5.7%7.9%
IDR/Rupiah
U.S
Dollar
Japanese
Yen
22.0%
11.1%
The current maturity debt (due date in 2010) is
amounted to 7.8 trillion.
The Company will issue Rupiah‐denominated bonds
in H1/2010 with an amount around Rp3 trillion.
Contact Address :Investor Relations & Corporate Secretary DepartmentGrha
Citra Caraka
5th
floorJl. Jend. Gatot
Subroto
Kav. 52Jakarta, 12710IndonesiaTel
: +62‐21‐5215109Fax
: +62‐21‐5220500Email
: [email protected]: www.telkom.co.id
Any further questions?