company presentation - partner · 2015. 2. 1. · 11 in nis millions q1 2013 q2 2013 q3 2013 q4...
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Company Presentation Q1 2014 Results
2 2
3 3
4 4
5 5
6 6
Revenues:
Service Revenues:
Equipment Revenues:
Adjusted EBITDA*:
Profit for the period:
Free Cash Flow (before interest):
Cellular ARPU:
Cellular Churn:
Post paid subscriber base:
7 7 As of March 31, 2014
Partner’s Ownership Structure
30.87%
12.55% 1.4%
6.21%
5.05%
43.92%
S.B. Israel Telecom
Scailex
Suny
Phoenix-Excellence Group
Psagot Investment House
Public
8 8
9
10 10
11 11
in NIS millions Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Revenues 1,144 1,130 1,118 1,127 1,103
Cost of Revenues 901 878 861 870 849
Gross Profit 243 252 257 257 254
SG&A 171 171 167 170 169
Other income 23 21 19 16 14
Operating Profit 95 102 109 103 99
Financial Costs, net 49 71 53 38 24
Income Taxes 15 11 18 19 23
Profit for the Period 31 20 38 46 52
Adjusted EBITDA* 268 280 284 282 274
12 12
2,290 2,2822,102 2,133 2,137
870 894
874 823 799
3,160 3,176
2,976 2,956 2,936
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2010 2011 2012 2013 Q1'14
Post-paid Pre-paid
13 13
101 101 97
87 82 83 84 81
77
-
25
50
75
100
125
150
Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
14 14
8.0%
8.9%
10.4%
10.9%
10.4%
9.4%8.8%
10.7%
11.6%
0%
2%
4%
6%
8%
10%
12%
14%
Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
15 15
5,6625,224
4,640
3,784
961 876
1,012 1,774
932
735
183 227
6,674 6,998
5,572
4,519
1,144 1,103
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2010 2011 2012 2013 Q1'13 Q1'14
Service Revenues Equipment Revenues
16 16
2,570
2,178
1,602
1,114
268 274
39%
31%
29%
25%23%
25%
0%
5%
10%
15%
20%
25%
30%
35%
40%
-
500
1,000
1,500
2,000
2,500
2010 2011 2012 2013 Q1'13 Q1'14
% t
ota
l re
ven
ues
NIS
mil
lio
ns
Adjusted EBITDA EBITDA margin
17 17
872853
793
744720
700 696675
661
500
600
700
800
900
Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
18 18
3,395
4,639
3,812
3,000 2,849
1.3
2.1
2.4
2.72.5
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
2010 2011 2012 2013 Q1'14
Ne
t De
bt
/ Ad
just
ed
EB
ITD
A
NIS
mill
ion
s
Net Debt Net debt / Adjusted EBITDA
19 19
2,175
1,707
1,110
639
138 161
-
400
800
1,200
1,600
2,000
2,400
2010 2011 2012 2013 Q1'13 Q1'14
20 20
395 471 492 475 130 113
6,6746,998
5,572
4,519
1,144 1,103 6%
7%
9%
11%
11%
10%
2%
4%
6%
8%
10%
12%
14%
16%
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2010 2011 2012 2013 Q1'13 Q1'14
Cap
ex a
s %
of
To
tal
Reven
ues
NIS
mil
lio
ns
CAPEX Revenues CAPEX margin
21 21
1,502
1,082
1,234
1,041
203145
-
200
400
600
800
1,000
1,200
1,400
1,600
2010 2011 2012 2013 Q1'13 Q1'14
22 22
4
26
14
39
11
2
Cellular ServiceRevenues
Fixed LineService
Revenues
IntersegmentRevenues
Elimination
EquipmentGross Profit
OperatingService
Expenses
Other IncomeQ4 2013 Q1 2014
274
282
23 23
41
5944
36
5
9
Cellular ServiceRevenues
Fixed LineService
Revenues
IntersegmentRevenues
Elimination
EquipmentGross Profit
OperatingService
Expenses
Other Income
268 274
Q1 2013 Q1 2014
24 24
Assets Liabilities and Equity
Cash and cash equivalents 620 Current maturities of Notes payables and loans 333
Trade receivables and other 1,083 Trade payables 719
Inventories 96 Other current liabilities 312
Total Current Assets 1,799 Total Current Liabilities 1,364
Trade receivables and other 442 Long term borrowings 3,136
Property and equipment 1,730 Other liabilities 91
Goodwill 407 Total Long-term Liabilities 3,227
Intangible assets 1,141
Total Long-term Assets 3,720 Equity 928
Total Assets 5,519 Total Liabilities and Equity 5,519
25 25
26 26
•
•
•
•
•
•
•
•
Key benefits:
•
•
•
•
•
27 27
Excellence in
enhancing the
customer
experience
Multi-channel
Policy of
transparency
and fairness
orange™ -
premium
brand
012 – “value
for money”
brand
Comprehensive
value proposition
in the field of
communications,
which includes
cellular, fixed, data
and content
First in
launching
Orange 4G
Developing
growth
engines and
entering new
markets
(wholesale
market, TV
and advanced
products)
Optimizing
synergies
between the
organization’s
units
Network
sharing
agreement
Culture of
constant
improvement
Employee
nurturing
Unique
organizational
culture
28 28
29 29
Ziv Leitman
Elana Holzman
The future is bright. The future is orange™
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