for personal use only 21 sep 2010 - tpg · 2020. 7. 1. · quarterly repayments of $20m commence...

2010 Full Year Results21 Sep 2010

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1H-10 Financial Highlights

$m

FY10 FY09 Growth

508.2Revenue

FY10 Financial Highlights

481.2 6%

171.1

55.7

120.8

17.7

42%

216%

EBITDA

NPAT

TPG Telecom FY10 Results

7.6 2.6 192%EPS

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EBITDA Growth

$m

TPG Telecom FY10 results

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Cash FlowPerformance v Guidance

$m

171.1Group reported EBITDA

(15.6)Less post acquisition contribution from PIPE

5.7Add back one-off acquisition costs and due diligence fees incurred

161.2TPG EBITDA


* unaudited, calculated using accounting policies consistent with the basis of its guidance, and excluding one-off costs

associated with its sale, and an fx gain on PPC-1 capex

Guidance range 152 - 158

Guidance Exceeded

55.6PIPE standalone full year* EBITDA

51.5 – 53.5Guidance range

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Cash Flow

$m

FY10 FY09

189.1

(28.3)

152.8

(28.3)

Operating Cash Flow

Tax & Interest

Cash Flow

(32.5) (23.0)Capex - TPG

- Pipe PPC-1 completion

- Pipe other

92.6 101.5Free Cash Flow


(30.6) -

(5.1) -

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Cash FlowBank Debt

$m

58Group debt balance at 31 July 2009

40PIPE debt acquired on acquisition

354New facility drawn down


$28m of new facility available to be drawn down

Quarterly repayments of $20m commence October 2010

(58)(40)(22)

Repayment of TPG facilityRepayment of PIPE facilityRepayments made on new facility

332Group debt balance at 31 July 2010

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Segment & Product Analysis

$m

FY-10

REVENUE

FY-09

258.5

TPG Broadband

191.4

38.4

TPG Mobile

14.8

41.7

Soul Mobile

99.6

367.4

Consumer Total

362.2

28.8

56.4

111.4

Corporate Total

119.0

-

Unalloc.

-

508.2

Total

481.2

Other Consumer

29.4*

PIPE

-

EBITDA

105.5

71.5

7.0

2.5

17.0

23.5

134.4

101.2

4.8

3.7

26.8

19.9

(5.7)

(0.3)

171.1

120.8


FY-10

FY-09

TPG Broadband

TPG Mobile

Soul Mobile

Consumer Total

Corporate Total

Unalloc. TotalOther

ConsumerPIPE

15.6*

-

*PIPE’s results for FY10 are for the 4.5 month post acquisition period

Margin improvement across all areas

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Broadband Subscribers

Expected to exceed 500,000 total subscribers by end of September 2010

~100,000 total subscriber FY10 growth

Churn rate: ~1.4%


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Organic Fixed Broadband Subscriber Growth (last 12 months reported*)

TPG Telecom FY10 resultsSource: published financial reports for Telstra, iiNet and Singtel. * TPG: Aug 09 to Jul 10 incl. Others: Jul 09 to Jun 10 incl.

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Mobile Subscribers

33,000 TPG mobile subscriber growth in FY10 (~20% migration from Soul)

201,000 total mobile subscribers

TPG Telecom 1H-10 ResultsTPG Telecom FY10 results

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Home Phone Subscribers

35,000 total Home Phone subscribers

>19,000 TPG subscribers added to date since launch at end April

TPG Telecom 1H-10 ResultsTPG Telecom FY10 results

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Average Revenue Per User


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Domestic Infrastructure


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Domestic Fibre

Sydney Brisbane Melbourne

TPG’s Dark Fibre network connects to key locations covering approx 75+ major data centres, 100+ Internet and Application Service Providers, 200+ Telstra Exchanges and 500+ buildings


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International Infrastructure


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Products – Home Phone + Broadband Unlimited


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Products – Mobile


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Products – Mobile Broadband


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Products – Fibre Optic Broadband


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IP & Data


Important driver for future growthFor

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Customers


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NBN


Opportunity for growth in regional areas

NBN will provide a level playing field

Regional roll out focusFor

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TPG: FY10 Guidance

$m

Guidance

FY11 Guidance

210 - 216FY11 EBITDA


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Final Dividend FY10

2 cents per share final dividend

Payable 17 November 2010 Payable 17 November 2010

Record date 20 October 2010

Total dividends for FY10 4 cents per share


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Thank youThank you


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This presentation contains certain forward-looking and unaudited information. Such information is based on estimates and assumptions that whilst

considered reasonable by the Company are subject to risks and uncertainties. Actual results and achievements could be significantly

Disclaimer

uncertainties. Actual results and achievements could be significantly different from those expressed in or implied by this information.


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for personal use only 21 sep 2010 - tpg · 2020. 7. 1. · quarterly repayments of $20m commence...

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