StarHub 1Q-2016 Resultsir.starhub.com/.../presentations/1Q16Slides.pdf · 2016. 5. 5. · 1.0 1.2...
Transcript of StarHub 1Q-2016 Resultsir.starhub.com/.../presentations/1Q16Slides.pdf · 2016. 5. 5. · 1.0 1.2...
![Page 1: StarHub 1Q-2016 Resultsir.starhub.com/.../presentations/1Q16Slides.pdf · 2016. 5. 5. · 1.0 1.2 0.9 1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016 Post-paid Monthly Churn Rate (%) 56.6](https://reader035.fdocuments.net/reader035/viewer/2022071417/61155509a41c4f645d3fc3d9/html5/thumbnails/1.jpg)
StarHub 1Q-2016 Results
5 May 2016
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Forward-looking Statements
The following presentation may contain forward-looking statements by StarHub Ltd (“StarHub”)
relating to financial trends for future periods.
Some of the statements in this presentation which are not historical facts are statements of future
expectations with respect to the financial conditions, results of operations and businesses, and
related plans and objectives. These forward-looking statements are based on StarHub’s current
views, intentions, plans, expectations, assumptions and beliefs about future events and are subject
to risks, uncertainties and other factors, many of which are outside StarHub’s control. Important
factors that could cause actual results to differ materially from the expectations expressed or implied
in the forward-looking statements include known and unknown risks and uncertainties. Because
actual results could differ materially from StarHub’s current views, intentions, plans, expectations,
assumptions and beliefs about the future, such forward-looking statements are not and should not be
construed as a representation, forecast or projection of future performance of StarHub. It should be
noted that the actual performance of StarHub may vary significantly from such statements.
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Management Team
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TAN Tong Hai
CEO
Dennis CHIA
CFO
Kevin LIM
CCO Howie LAU
CMO
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1Q2016 Highlights
Financial Highlights
Business Highlights
2016 Outlook
Agenda
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Overview (1Q-2016 vs 1Q-2015)
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Financial
• Total revenue decreased 4%
• Service revenue stable
• EBITDA increased 13%
• EBITDA margin at 33.8%
• NPAT increased 26%
Operational
• Revenue growth in Residential
Broadband & Enterprise Fixed
• Subscriber growth in both pre &
post-paid Mobile
• Low churn rates maintained across
all businesses
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Key Financial Highlights
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S$M 1Q-2016 1Q-2015 Change
Total Revenue 591 618 -4%
Service Revenue 542 540 0%
EBITDA 183 162 13%
EBITDA Margin 33.8% 30.0% 3.8% pts
Taxation (20) (17) 20%
Net Profit After Tax 93 74 26%
Capex Cash Payments 42 96 -57%
% of Capex to Revenue 7.1 15.6 -8.5% pts
FCF / Fully Diluted Share 5.2¢ -2.7¢ NM
Net Debt to 2015 EBITDA ratio 0.58x 0.65x -0.07x
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• Numbers may not add up due to rounding
Revenue Contribution & Mix
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First Quarter Ended 31 March
2016 2015 Incr / (Decr)
Total Revenue S$m % mix S$m % mix S$m %
Mobile services
298.1 50.4 305.4 49.4
(7.3) -2.4
Pay TV services
94.9 16.1 96.0 15.6
(1.1) -1.2
Broadband services
53.5 9.1 48.1 7.8 5.4 11.3
Enterprise Fixed services
95.8 16.2 90.9 14.7 4.9 5.4
Total service revenue 542.3 91.8
540.4 87.5 1.9 0.4
Sale of equipment
48.6 8.2
77.5 12.5
(28.9) -37.3
Total Revenue 590.9 100.0
617.9 100.0
(27.0) -4.4
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Hubbing Scorecard
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311 314
220 214
245 243
1Q-2015 1Q-2016
Single HHs Double HHs Triple HHs
H u b b i n g H o u s e h o l d s ( ‘ 0 0 0 )
771 776
* Numbers may not add up due to rounding.
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1Q2016 Highlights
Financial Highlights
Business Highlights
2016 Outlook
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EBITDA & EBITDA Margin
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(S$M)
33.8%
30.0%
EBITDA Margin as % of Service Revenue
162
195 199
157
183
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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15791 96
143104
95
100 101
119
93
35
35 38
42
33
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Cost of Equipment Cost of Services Traffic Expenses Cost of Sales / Revenue
11 * Numbers may not add up due to rounding.
Cost Of Sales
(S$M)
226 236
305 287
230
39%
46%
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68 70 68 65 66
140 148 148 144158
40 31 32 4233
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Depreciation Other G&A Marketing & Promotion Operating Expense / Revenue
12
(S$M)
249
Other Operating Expenses
248 251
248
* Numbers may not add up due to rounding.
256
40%
43%
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74
99
119
8193
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
13
(S$M)
Net Profit After Tax
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96
6267
103
42
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
14
(S$M)
Capex (cash payments)
Capex/Revenue
7.1%
15.6%
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(46)
103
139
20
90
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
15
(S$M)
Free Cash Flow
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1Q2016 Highlights
Financial Highlights
Business Highlights – Mobile
2016 Outlook
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Mobile (1Q-2016 vs 1Q-2015)
Total customer base expanded 51k
Post-paid ARPU increased S$1 to S$69
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Mobile Customer Base
Customers (‘000)
1,301 1,313 1,320 1,325 1,344
846 849 857 862 855
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Post-paid Pre-paid
2,188 2,162 2,198 2,177 2,147
39%
61%
* Numbers may not add up due to rounding.
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Mobile Revenue
Mobile Revenue (S$M)
305.4 310.8 310.6 313.0 298.1
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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68 70 71 72 69
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-201620
Mobile ARPU
Post-paid ARPU (S$ per month)
18 18 18 17 17
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Pre-paid ARPU (S$ per month)
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Mobile Non-Voice & Churn Trend
Post-paid Non-Voice Services (% of ARPU)
0.9 0.91.0
1.2
0.9
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Post-paid Monthly Churn Rate (%)
56.6 56.0 56.9 58.2 59.7
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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1Q2016 Highlights
Financial Highlights
Business Highlights – Pay TV
2016 Outlook
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Pay TV (1Q-2016 vs 1Q-2015)
Revenue decreased 1%
ARPU at S$51
Customer base decreased 17k
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Pay TV Base & Churn
Customers (‘000) Average Monthly Churn Rate (%)
545 545 542 536 528
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
0.70.8
0.70.8 0.8
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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51 52 51 51 51
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-201625
96.0 97.8 97.2 100.094.9
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Pay TV Revenue & ARPU
Pay TV Revenue (S$M)
Residential Pay TV ARPU (S$ per month)
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1Q2016 Highlights
Financial Highlights
Business Highlights – Broadband
2016 Outlook
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Broadband (1Q-2016 vs 1Q-2015)
Revenue increased 11%
ARPU increased by S$3 to S$36
Customer base stable
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473 475 477 476 473
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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Broadband Base & Churn
Customers (‘000)
0.80.9
1.01.1 1.1
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Average Monthly Churn Rate (%)
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33 33 34 35 36
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
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48.1 49.0 51.1 52.1 53.5
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Broadband Revenue & ARPU
Broadband Revenue (S$M)
Residential Broadband ARPU (S$ per month)
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1Q2016 Highlights
Financial Highlights
Business Highlights – Enterprise Fixed
2016 Outlook
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Enterprise Fixed (1Q-2016 vs 1Q-2015)
Data & Internet revenue increased 5%
Voice revenue increased 7%
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90.996.7 99.3 98.0 95.8
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Enterprise Fixed
Enterprise Fixed Revenue (S$M)
* Numbers may not add up due to rounding.
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12.813.7 14.3
13.0 13.7
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
78.1
83.085.0 85.0
82.1
1Q-2015 2Q-2015 3Q-2015 4Q-2015 1Q-2016
Voice/Data & Internet
Voice Revenue (S$M)
Data & Internet Revenue (S$M)
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1Q2016 Highlights
Financial Highlights
Business Highlights
2016 Outlook
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Revenue: Maintain service revenue to grow in the low single-digit
EBITDA: Maintain EBITDA margin on service revenue to be about 31%
CAPEX: Maintain cash capex to be about 13% of total revenue
(excludes spectrum payment)
Dividend: Declare 1Q-2016 dividend of 5.0 cents per share
Maintain annual cash dividend of 20.0 cents per share
for FY2016
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FY2016 Outlook
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Investor Relations Contact
Investor Relations Contact
For IR-related queries, please email or call:
Jeannie ONG
Chief Strategic Partnership & IR Officer
DID: +65 6825 5168
[email protected] / [email protected]
Eric LOH
AVP, IR
DID: +65 6825 5171