H1 FY12 Results Presentation | 30 September 2011 Vodafone Qatar Q.S.C. Vodafone Qatar Q.S.C. Financial Results Presentation Half-Year ended 30 September 2011 Financial Results Presentation Half-Year ended 30 September 2011 Confidentiality level on slide master Version number on slide master
2 H1 FY12 Results Presentation | 30 September 2011 Disclaimer • The following presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. • This presentation contains forward-looking statements that are subject to risks and uncertainties, including statements about Vodafone Qatar’s beliefs and expectations. • These forward-looking statements are based on assumptions that Vodafone Qatar has made in light of its experience in the industry in which it operates, as well as its perceptions of historical trends, current conditions, expected future developments and other factors which Vodafone Qatar believes are appropriate under the circumstances. Prospective investors should understand that these statements are not guarantees of future performance or results. • Due to these factors, Vodafone Qatar cautions that prospective investors should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise from time-to- time, and it is impossible to predict these events or how they may affect Vodafone Qatar. • Vodafone, and the Vodafone logo are trademarks of the Vodafone Group. Confidentiality level on slide master Version number on slide master
H1 FY12 Results Presentation | 30 September 2011 3 Half-Year Key Highlights • 814,000 Mobile Customers at 30 September 2011 Customer Numbers • Mobile Customers grew 35% year-on-year (53k for the quarter) • 28.0% Mobile Customer Market Share at 30 September Market Share • 24.7% Mobile Revenue Market Share for the September quarter • Half-Yearly Total Revenue increased 53% year-on-year to QR 590m Revenue, ARPU & Profit • Half-Yearly ARPU increased 2% year-on-year to QR 111 • Half-Yearly EBITDA was QR 65m; 11% EBITDA margin • 80 new cell sites on air in last six months, increasing our network by 20% to 500 sites; a further 50 sites planned by March 2012. Network • Site-sharing with Qtel is a strategic priority which continues to progress • Converged fixed & mobile core switch installed in second data centre • Progress towards Fixed Line launch in 2012 continues in line with Fixed Line licence requirements. • Vodafone Qatar will be a customer of Q.NBN to deliver fibre to the home as the last mile. • New prepay IN release in June, allowing new plans to be launched • 75% of roaming now on bilateral agreements directly with VFQ Operational Highlights • Stop the Clock – talk locally up to 30 mins, pay for 3 mins • BlackBerry on Prepay launched Confidentiality level on slide master • Soft launch of fixed voice in The Pearl Version number on slide master
4 H1 FY12 Results Presentation | 30 September 2011 Mobile Customer Growth Year-on-Year Growth in Mobile Customers & Mobile Customer Market Share 1,000,000 30% 28.0% 900,000 814,000 25% Customer Market Share 800,000 22.0% Customer Numbers 700,000 20% 601,000 600,000 500,000 15% 400,000 10% 6.6% 300,000 200,000 151,000 5% 100,000 - 0% H1 Sep-09 H1 Sep-10 H1 Sep-11 Total Mobile Customers Mobile Customer Market Share 35% growth in Customer Numbers year-on-year • Confidentiality level on slide master Version number on slide master
5 H1 FY12 Results Presentation | 30 September 2011 Total Revenue Year-on-Year Total Revenue Comparison 24.7% 700 25% 590 Mobile Revenue Market Share 600 18.4% 20% 500 QAR (millions) 385 15% 400 300 10% 200 3.6% 5% 100 39 - 0% H1 Sep-10 H1 Sep-11 H1 Sep-12 Half-Yearly Total Revenue Quarterly Mobile Revenue Market Share 53% growth in Total Revenue year-on-year • Confidentiality level on slide master Version number on slide master
6 H1 FY12 Results Presentation | 30 September 2011 Mobile ARPU (Average Revenue Per User) Year-on-Year Mobile ARPU 111 111 111 110 Half-Yearly ARPU (QAR) 110 109 108 109 108 108 107 107 H1 FY11 H1 FY12 2% increase in ARPU year-on-year • Confidentiality level on slide master Version number on slide master
7 H1 FY12 Results Presentation | 30 September 2011 EBITDA Year-on-Year EBITDA Comparison 100 65 50 - QAR (millions) -50 -32 -100 -150 -156 -200 H1 FY10 H1 FY11 H1 FY12 Half-yearly EBITDA margin of 11% • Confidentiality level on slide master Version number on slide master
8 H1 FY12 Results Presentation | 30 September 2011 Distributable Profits Year-on-Year Distributable Profits Comparison - -20 -40 -35 -60 QAR (millions) -80 -100 -120 -111 -140 -160 -180 -200 -189 H1 FY10 H1 FY11 H1 FY12 68% improvement in Half-Yearly Distributable Profits year-on-year • Annual Distributable Profits is the measure on which dividends will be based • Confidentiality level on slide master Version number on slide master
9 H1 FY12 Results Presentation | 30 September 2011 Net Loss Year-on-Year Net Loss Comparison - - -50 -50 -100 -100 -150 -150 -200 -200 -250 -250 -237 -300 -300 -350 -350 -312 -349 -400 -400 H1 FY10 H1 FY11 H1 FY12 Amortisation 24% improvement in Half-Yearly Net Loss year-on-year • Half-Yearly Amortisation of the QAR 7.7bn license fee is QAR 202 million. • Confidentiality level on slide master Version number on slide master
10 H1 FY12 Results Presentation | 30 September 2011 Capitalised Fixed Asset Additions (Fixed Line & Mobile) Full Year Capex spend Capital Expenditure from FY09-FY12 QR 1.52bn Mobile capex QR 0.26bn Fixed line capex Year 4 Year 1 Year 2 Year 3 600 QR 1.78bn Total capex over 4 years 524 475 QR 7.72bn Cost of mobile licence 500 QR 9.50bn Total assets purchased over 4 years 389 138 QR 392m 400 QAR (millions) 270 300 84 200 122 Management forecast for H2 FY12 21 100 Fixed Line 0 FY 09 FY 10 FY 11 H1 FY12 H2 FY12 Long-term total capital intensity expected to stabilise at 10% of revenue from FY15 onwards. • Confidentiality level on slide master Version number on slide master
11 H1 FY12 Results Presentation | 30 September 2011 Net Debt Borrowings less Term Deposits 156 200 100 - -100 QAR (millions) -200 -300 -400 -407 -500 -600 -700 -714 -800 H1 FY10 H1 FY11 H1 FY12 D/E ratio of 10.5% at 30 September 2011 (this would be 16.3% if the total borrowing facility was fully utilised) • We have a borrowing facility of US$ 330m (QR 1.2 billion) comprising: • US$110m (QR 400m) at 1mth US Libor + 3.55%; matures 2 April 2012 • US$120m (QR 437m) at 1mth US Libor + 1.55%; matures 3 May 2014 • US$100m (QR 364m) at 1mth US Libor + 1.15%; matures 1 June 2018 • Confidentiality level on slide master This is the total funding expected to deliver our current mobile & fixed 5 year plan • Version number on slide master
12 H1 FY12 Results Presentation | 30 September 2011 Fixed Line Rollout Plan VFQ is proceeding with plans to: • Turn on converged fixed & mobile core switch • Lay fibre from QSTP data centre to its international cable landing station near Al Khor Landing station is finished. Administrative approvals required before work can be started on laying fibre • • Lay fibre between data centre 1 and data centre 2 Completion due by December 2011 • • Lay fibre for backbone of the core fixed & mobile network Completion due by June 2012. • • Trial broadband in Barwa City in February 2012 Last mile access and metro to be delivered by QNBN entity (delivering fibre to the home at speeds of 100mbps for 95% of the population) We are on track to deliver to our Fixed license requirements below: Milestone Location Access Technology Required Service Time Status I The Pearl Not specified Internet service 3 Months from Effective Complete Date* II The Pearl Not specified Fixed Voice and 12 Months from Complete (soft launch) internet Effective Date* IV West Bay CBD Fibre to the Building Fixed Voice 30 Months from October 2012 launch to effective date* CBD V Rest of Qatar Not specified Fixed Voice 48 months from In line with QNBN effective date* rollout Confidentiality level on slide master * Effective date was 29 April 2010 Version number on slide master
13 H1 FY12 Results Presentation | 30 September 2011 Short-Term Business Priorities – 2 Phases for Progress Immediate Focus: • Full network coverage • Postpay billing experience • Roaming 2nd Phase 2012: • High value local customers • Business segment • Fixed line broadband in partnership with QNBN Qatarisation Confidentiality level on slide master Version number on slide master
14 H1 FY12 Results Presentation | 30 September 2011 Appendices Confidentiality level on slide master Version number on slide master
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