Q1 2011 Grameenphone Ltd. May 2, 2011
Tore Johnsen Chief Executive Officer
Grow th m om entum . . . Aggressive Acquisition + 33.8% • Addition of 2 million subscriptions, quarter + 6.7% ended with nearly 32 million subscriptions • Stable subscription market share • Subsidy driven growth reaching lower ARPU segment and rural people Strong Revenue Grow th • Voice revenue in line with subscription growth • Stable growth in data revenues • Growth in revenue from mobile device Slide 3
Getting closer to custom ers. . . Dynam ic pricing • Location-based discount offer in tariff • Efficient utilization of network capacity • Well accepted by over 1 crore customers Postpaid revam p • Prioritizing customer need • Flexibility and comfort New price plan for SME • Introduced three new price plans • Customized to cater various necessity I ncrease rural footprint • Over 186,000 retail outlets • Micro-financing through BRAC and CARE • Bangla contents in handsets Slide 4
(in BDT Crore) Stable grow th in data . . . + 41.7% • Stable revenue growth from internet usage + 4.4% • 2.4Mn internet users, 61% increase from a year ago • Internet mini-packs getting popular • Investment in progress to improve data quality • Data usage trend indicates 3G preparedness Data Revenues Slide 5
Em bracing future-proof technology . . . Netw ork m odernization • Network up-gradation in progress • GP appreciates customers’ patient support during temporary service disruptions • Cutting edge technology and more sophisticated in nature to cater increased service requirement • Better customer experience • Simpler network architecture Driving business grow th • Reduced power consumption • Reduction of carbon footprint withdrawing 7,500 air conditioners • 50% less space requirement for base stations Slide 6
1 4 th Annual General Meeting 2 nd AGM, after getting listed with the ● stock exchanges, held on 19 April 2011 ● Conducted in compliance with all regulatory requirements ● Around 100,000 annual reports distributed within regulatory timeline ● Shareholders approved 2010 financial statements and 120% total cash dividend (including 35% interim dividend) among other agenda ● More than 41,000 shareholders having online banking facility received dividend within 24 hours of AGM completion Slide 7
Q1 2011 Financials Raihan Shamsi Deputy CEO and Chief Financial Officer
(in BDT Crore) Revenues . . . + 21.3 % ● Growth driven by voice revenue + 5.5 % ● Revenue growth in line with subscription growth ● Subscriber-friendly campaigns ● New subscribers contributing in revenue growth ● Revenues from mobile device Total Revenues Slide 9
(in BDT Crore) EBI TDA m argin . . . ● Improved EBITDA driven by revenue growth ● Heavy subsidy of BDT 209 crores ● Cost optimization initiatives in progress EBITDA EBITDA % Slide 10
(in BDT Crore) Net Profit after Tax . . . ● BDT 287 crores net profit after tax ● Devaluation of Taka against foreign currencies resulted loss of BDT 29 crores ● Higher income tax expenses, BDT 309 crores in Q1’11 NPAT NPAT % Slide 11
(in BDT) Earnings per Share . . . ● Stabilized EPS in competitive market ● EPS affected by subsidy on SIM Tax ● Profitability maintained through business growth ● Visible result of cost optimization initiatives Slide 12
Key Financial Figures . . . Net Asset Value ( NAV) Net Operating Cash Flow ( NOCF) NAV (BDT Crore) NOCF (BDT Crore) NAV/Share (BDT) NOCF/Share (BDT) Slide 13
(in BDT Crore) I nvesting for sustainable business . . . ● Investment for network capacity and data quality ● Implementing the vision of rural footprint ● Higher capex in Q4’10; waited till Q3’10 for better deal for network modernization (Huaweii agreement) ● 12 solar BTS rolled out during the quarter ● Invested over BDT 16,000 crores since inception Slide 14
(in BDT Crore) Contribution to National Exchequer. . . ● BDT 944 crore payments to the national exchequer during the first quarter ● BDT 23 crore more payments against corporate tax compared to last quarter ● Q4’10 import duty was higher due to higher investment on network ● Since inception, Grameenphone’s contribution to the National exchequer stands at BDT 19,446 crores For every 100 Taka Withholding tax and other payments Payments to BTRC revenue GP earns, Other payments to NBR (Import duty, VAT, etc) Govt. gets around 50 Payments against Corporate Tax Taka from various Payments against SIM Tax sources Slide 15
Regulatory Landscape
Challenges . . . − Regulators published renewal framework in Jan’11. − Framework proposed upfront fee of $1.6Bn from four renewing operators 2G − Contains elements not relevant to renewal of license e.g. License unified licensing, social obligation fund etc. Renewal − Renewing operators expressed reservation and provided feedback within timeline − Regulators have initiated dialogues with renewing operators − Some progress has taken place regarding the 3G licensing − The regulators need to put up a development roadmap for the telecom industry, including clear guidelines for 3G licensing − A stable and long term telecom policy is a dire necessity to stimulate industry growth and enable the mobile operators to make further investments in new services and technologies like 3G Slide 17
Q&A
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