mobistar first quarter 2015 results - orange belgium · mobistar first quarter 2015 results. ......

Mobistar - Financial results Q1 2015

Analysts & Investors Presentation

Mobistar

First quarter

2015 results


This presentation contains forward-looking statements about Mobistar, inparticular for 2015. Although Mobistar believes these statements are based onreasonable assumptions, these forward-looking statements are subject tonumerous risks and uncertainties, including matters not yet known to us or notcurrently considered material by us, and there can be no assurance thatanticipated events will occur or that the objectives set out will actually beachieved. Important factors that could cause actual results to differ materiallyfrom the results anticipated in the forward-looking statements include, amongothers, the impact of the price adjustments on the customer base resulting fromthe competitive pressure, the evolution of the customer base, the economicsituation in Belgium, the effectiveness of Mobistar convergent strategy includingthe success and market acceptance of the voice and data abundance plans, theMobistar TV and broadband offers, the Mobistar brand and other strategic,operating and financial initiatives, Mobistar’s ability to adapt to the on-goingtransformation of the telecommunications industry, regulatory developments andconstraints and the outcome of legal proceedings, risks and uncertainties relatedto business activity.

2


a leading telecom operator

Mobistar is one of the leading telecom operators of the Belgian and Luxembourg marketsMobistar is one of the leading telecom operators of the Belgian and Luxembourg marketsMobistar is one of the leading telecom operators of the Belgian and Luxembourg marketsMobistar is one of the leading telecom operators of the Belgian and Luxembourg markets

Jean Marc HarionJean Marc HarionJean Marc HarionJean Marc HarionChief Executive Officer

Ludovic PechLudovic PechLudovic PechLudovic PechChief Financial Officer

Siddy JobeSiddy JobeSiddy JobeSiddy JobeDirector Investor Relations& Corporate Finance

Mobistar ManagementMobistar ManagementMobistar ManagementMobistar Management

3


“focus on value management”JeanJeanJeanJean----Marc Marc Marc Marc HarionHarionHarionHarion, , , , Chief Executive Officer


key achievements in Q12015

Cable regulation activation

Concept store Antwerp

MobilineMobifleet

pilotpilotpilotpilot

4G@BXL

5

Q1 2015FY 2014

LoyaltyCinema tickets

Official provider

4G anniversary


• 4G postpaid customer base growth 19% vs 4Q14

• #1 in 4G: 92% outdoor coverage

• #1 in 4G: ~600 000 customers

• #1 in NPS Telco Customer Service

• Postpaid ARPU grew by 3.8% yoy

• Restated EBITDA +5.6% yoy & +12.4% excl. reg.

• Full year guidance confirmed

our main business achievements in Q1 2015

6


• Taking control of distribution with own channels

• Digitalization of end-to-end customer experience

• IT outsourcing to gain cost efficiency

• Best Tariffs, price transparency, best devices

• Improved customers trust and loyalty

• Stable Postpaid customers base

• Pave the way for future cable market entrance

• Prepare convergent offers for SME market

our main transformation Q1 2015 achievements

7


achievements


our 5 strategic priorities for 2015 – 2020:

Leadership in Mobile

� Best 4G network in Belgium

� N° 1 in network share

Pioneer in Disruptive Convergence

� N° 1 convergent challenger on the consumer market

� N° 1 convergent challenger on the enterprise market

Best Customer Experience

� Best Telco customer experience

� N° 1 NPS in all customer touch points

Best Industry Efficiency

� Best in class Telco in outsourcing model

� Self finance innovation thanks to efficiency gains

Team Member’s Engagement

� Create a digital and open working environment

� Best in Class in offering career opportunities


99% coverage in Brussels in May and

pilot in Mechelen

undisputed largest 4G coverage€20m network investments in Q1 to support extension at fast pace

Leadership in

Mobile

Mobistar 4G network coverage evolution (800 + 1800 MHz, focus on in-door )

Official launch in March: 230 cities

with >50% coverage

10


Mobistar operates the largest network

Belgium Brussels

• % pop outdoor: • % pop indoor: 86%86%86%86%

• % pop outdoor: • % pop indoor: 72 %72 %72 %72 %

(source : Mobistar, Mar 2015) (source : Mobistar, Mar 2015)

11

Situation on 27/03/ 2015

% pop outdoor 99.8%99.8%99.8%99.8%(source: Proximus Website 27.03.15)

% indoor: 74%74%74%74%(source: estimate based on Px drive tests)

56%56%56%56% of Brussels pop covered(source: Base web 13.05.14)

% pop outdoor : 83%83%83%83%(source: Base web 27.3)

% pop indoor : 62%62%62%62%(source : indoor estimate )

% pop outdoor : 86.1%86.1%86.1%86.1%(source: Proximus website 27.3)

% indoor: 64%64%64%64%(source: estimate based on Px drive tests)

Status 31/10/ 2014

#1#1#1#1 #1#1#1#1


Leadership in

Mobile

#1Outdoor coverage

92% *

#1Indoor coverage

72% *

17.7MbpsAverage

download speed **

14 MbpsAverage

upload speed **

Mobistar leader in 4G coverage

Source 1: * Population coverage based on sites on air end of Q1 2015Source 2: ** Commsquare, January 2015

12


Mobistar leader in 3G coverageand in Voice performance

Leadership in

Mobile

3G/2G

#1Voice callscompleted **

3G

#1=Outdoor coverage

99% *

#1Indoor coverage

92% *

9.1 MbpsAverage

download speed **

2.5 Mbps Average

upload speed **

HD VoiceOnly operator in Belgium **

Source 1: * Population coverage based on sites on air end of 2014Source 2: ** Commsquare, January 2015

13


facilitating 4G access for our customersfrom network and plans to devices and services

most attractive4G tariffplans

devices

richest devices portfolio

services &financing

14

Leadership in

Mobile

tariffsnetwork

largest 3G and 4G coverage

best services


749 798 833 874 740

7.500

7.000

6.500

6.000

5.500

5.000

4.500

4.000

3.500

3.000

2.500

2.000

1.500

1.000

500

0

Q4 2014

71,3%

111

1.557

96

Q3 2014

70,7%

109

1.552

99

Q2 2014

71,1%

109

1.509

101

Q1 2014

70,5%

111

1.311

103

Q1 2015

96

1.710

111

71,6%

Mobistar Postpaid % retail cust basePostpaidPrepaidMatmaLaptop cardsMVNOOLU

3,840

Belgium,incl. MVNO

5,150

3,836

5,345 5,472

3,892

5,444

3,915

15

Leadership in

Mobile

Stable customer base evolution in Belgium5.5 million SIM connected cards

5,472

3,762


4G customers base is growing fastgrowing customer appetite for 4G services

Leadership in

Mobile

Active 4G Mobistar users share of total subscribers base

Potential target: > 3m 4G users

X 4X 4X 4X 4

X 2X 2X 2X 2

Average data trafficper technology

Total customers

Mobile data

customers

4G custo mers

16

0

100 000

200 000

300 000

400 000

500 000

600 000

700 000

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

Mobistar Actives 4G users (excl. MVNO & Matma)

8 %11 %

16 %

~ 600k Mobistar 4G customers

19 %


Mobistar prepaid & postpaid customers base excl. M2M & MVNO

4G experience catalyzing data growthdata usage x2.5 in 1 year

Data usage per active Mobistar customer in March 2015

Leadership in

Mobile


4G represents 40% of total data consumption1 out of every 5 Mobistar customers uses 4G

18

Mobistar prepaid & postpaid customers base excl. M2M & MVNO

Mobile data consumption per technology and per customers

4G~600k(~20%)

#customers

Leadership in

Mobile

40%

60%


4G usage driving Mobistar ARPU Growthmobile data monetization thanks to personalized usage control

• Thanks to a high focus on value value value value managementmanagementmanagementmanagement, improved customer customer customer customer loyalty loyalty loyalty loyalty and data usage data usage data usage data usage development. development. development. development.

• MyMobistarMyMobistarMyMobistarMyMobistar app help customers control their data consumption.

• Personal CheckPersonal CheckPersonal CheckPersonal Check----Up Up Up Up proprietary solution help customers proactively help customers proactively help customers proactively help customers proactively select the best bundle select the best bundle select the best bundle select the best bundle to fit with their needs.

• Both drive customer mix fromdata topdata topdata topdata top----up to richer data bundlesup to richer data bundlesup to richer data bundlesup to richer data bundles

19

Blended ARPU increase YoY in Q1 2015:2nd quarter in a row

MyMobistar and Personal Check Up help customers adapt their data plans to usage

Leadership in

Mobile

23.924.3

23.923.9

23.4

24.0

24.9

25.626.0

22

23

24

25

26

Q3 2013

Q2 2014

Q4 2013

Q2 2013

Q1 2015

Q3 2014

Q1 2013

Q1 2014

Q4 2014

+2.0 %


Leadership in

Mobile

EU28 roaming traffic doubled in one yearboosted by 4G, attractive plans and smartphones penetration

Countries covered with Mobistar4G roaming agreements

Mobistar 4G international roaming traffic evolution in EU 28

>>>> 95% 95% 95% 95% of Mobistar customers data roaming usage


opening the cable market for competitiontoward phased launch of Mobistar cable offers in 2015

• Internal users’ test:

• 80% would recommend the service

• External users’ test:

• Charleroi first, extended to other cities

• 1st Mobistar customers activated in

January

• pre-registration open

• Phased commercial launch in 2015:

• once retail minus mechanism

calculation clarified by regulators

Ultra-fast

Internet

Digital TV

+

Pioneer in Disruptive

Convergence


Retail price IT

22

VAT

Fixed line

Content

Non

regulated

services

Retail Minus (23%)

Internet + TV whole sale price

DecoderModem2nd screenWifiPromo

Cable wholesale price –current

estimation

Retail Minus (23%)

Cable wholesale price – final Regulation application

retail Minus to be applied within Regulation key condition to allow effective competition


Convergence


#2

Shape & Fix Telephony

Best Mobile Network

Mobile Voice for all

Mobile Data for all

ApplicationsTabletsMDM

23

Shape: a new portfolio for B2B customersabundance “for all”, per company seat


Convergence


Facebook and Twitter unlimited for the Dolphin 12/15/20

unrivalled services & advantages for our customers

Smartphone repair: Service available in Mobistar’s stores, 70 % of the units can be repaired on-site. For the rest, customers will receive a quality device as temporarily replacement.

My swap: option that guarantees your 4G smartphone will be bought back by up to 50% of its purchase price within 2 years.

3 million users: Unlimited communication with 3 million Mobistar users with a Dolphin 15 and higher bundles.



Offer the best customer experience

on the market

#3

25


“Have A Nice Day”Mobistar new loyalty program, launched in April 2014

Surprise and delight our customerswith exclusive gifts

Exclusive “HAND” operations in Q1 2015,amongst which 1 major concert



• Concept Stores Antwerp, Liège… & Brussels

• 95 shops refitted

• 90% 3rd party partner contracts renegotiated

• Launched in October 2014

• Mobistar Products & Services

• Portfolio extended to energy, security

• ‘Shops in shop’ in 25 MediaMarkt stores

• ‘Shops in shop’ in 35 Carrefour Hypers

distribution channels transformation completefocused on service and improved customer journey

26


2015: End-to-end focus on transversal non-quality Best Industry Efficiency

Doing together:

Transversal Non Quality chasing

Doing Better:

Vertical Transformation

Doing less &

cheaper

2015

2014

2013

27


financial review Q1 2015Ludovic Ludovic Ludovic Ludovic PechPechPechPech, , , , Chief Financial Officer


(a) see below for EBITDA restatements

key financialscost transformation mitigating top line erosion

29

in €m Q1 2015 Q1 2014 Var. Comments

Service Service Service Service revenuesrevenuesrevenuesrevenues 270.3 278.1 -2.8 %

• Extends the improving trend quarter after quarter

• Excluding the regulatory impact (€6.1m), revenues almost stabilized (-0.6%)

Consolidated turnoverConsolidated turnoverConsolidated turnoverConsolidated turnover 303.4 317.0 -4.3 %

• Excluding regulatory impact, decline would have been 2.9 %.

• Decrease attributable to regulation, handset sales and fixed legacy business

Restated EBITDA Restated EBITDA Restated EBITDA Restated EBITDA (a) 69.9 66.1 +5.6 %• Mobistar’s restated EBITDA increased for the first time in 15 quarters.

• Excluding the regulatory impact the restated EBITDA would have increased by 13 %.(in % of service revenues) 25.8 % 23.8 %

EBITDA EBITDA EBITDA EBITDA 68.8 64.5 +6.8 %

(in % of service revenues) 25.5 % 23.2 %

CAPEXCAPEXCAPEXCAPEX 26.8 37.4 -28.4 %

• Mobistar continued stepping up investments in its mobile network, in particular in the roll out of 4G, with a clear focus on the best blend of technologies to offer enhanced mobile voice and data user experience for mobile users in Belgium

(in % of revenues) 9.9 % 13.5 %

Operating cash flowOperating cash flowOperating cash flowOperating cash flow42.1 27.1 +55.3 %

• Reflecting EBITDA improvement and annualisation of 4G investment peak in Q1 2014(EBITDA - CAPEX)


regulatory impactprogressively fading out with EU roaming left in 2015

30

Revenuesimpact

EBITDAimpact

29 26 26

60 30 3411

1215

FY15e

14

Q1 2015FY14

38

FY13

60

FY12

59

FY11

74

6

51

MTREU Roaming

20 19 199

13 157

38

343338

10

25

4

40

€€€€230m impact in FY14 compared to FY10230m impact in FY14 compared to FY10230m impact in FY14 compared to FY10230m impact in FY14 compared to FY10

€€€€130m impact in FY14 compared to FY10130m impact in FY14 compared to FY10130m impact in FY14 compared to FY10130m impact in FY14 compared to FY10


consolidated turnoverMobile service revenues excluding regulatory impact grew in Q1 2015

consolidated revenues year-on-year evolution(in %)

31

Cb: Comparable basis

1.5

-5.8303.4

Q1 2015

----7777((((----2%2%2%2%))))

Handset Salesservice revenues

(non-mobile)

-3.1

service revenues (OLU)

service revenues (mobile)

Q1 2014 excl. regulation

310.8

-6.1

RegulationQ1 2014

317.0

-0.1


23.9

24.3

23.923.9

23.4

24.0

Q4 2013

+2.0%+2.0%+2.0%+2.0%

Q2 2014Q1 2014 Q3 2014 Q4 2014 Q1 2015

+1.0%

blended mobile ARPU (Belgium)ARPU stabilization driven by tariff mix and 4G data usage

quarterly ARPU (a)

(in euro per month per user)

32

Mobistar prepaid & postpaid customers base excl. M2M, IEW & MVNO


1Q154Q143Q142Q141Q144Q133Q132Q131Q134Q123Q122Q121Q12

-2,8%

-0,6%

2Q15

Service revenue growth excl. regulationService revenue growth

service revenues year-on-year evolution(in %)

v-shaped recovery also confirmed in Q1 2015Mobistar is increasingly focusing on value management

33

~0.6m 4G customer base

growing

Stabilizing postpaid

customer base

Mobile ARPU is rebounding with 2.0 % growth in

Q1 2015

Exploding data usage with +153

% growth


1Q154Q143Q142Q141Q144Q133Q132Q131Q134Q123Q122Q121Q12 2Q15

+12,4%

+5,6%

Restated EBITDA excl. regulatory & tax

Restated EBITDA excl. regulatory

Restated EBITDA

restated EBITDA year-on-year evolution(in %)

v-shaped recovery confirmed quarter after quarterthe efficiency program accelerates the return to growth of the EBITDA

34

Value based management

driving profitable growth

Top line sequential improvement

Regulatoryimpact

fading out


cost base transformation: fueling growth engineOPEX savings reinvested in growing the top line

35

544

594

2014Agrowth(c)

initiativesgross

savingsadversefactors(a)

21

2013A

(a) increase in operational taxes in 2014 and price indexation in 2015(b) including over €50m net non-labor OPEX savings from ACE2 and €9m labor costs savings(c) including innovation, customer acquisition and customer loyalty program

cost base excluding interconnection charges and cost of goods sold(in euro millions)

544

gross savings

growth(c)

initiatives2015Eadverse

factors(a)2014A

ILLUSTRATIVEACTUAL FIGURES

resourcesresourcesresourcesresourcesreallocationreallocationreallocationreallocation

€71m net OPEX savings (b)


capital expensessustained investment in network to consolidate our 4G leadership position

(a) excluding licenses

36

26.8

37.4

----28.4%28.4%28.4%28.4%

Q1 2015Q1 2014

total CAPEX(in million euros) Excluding licenses

• 74 % of total group CAPEX allocated to network

• #1 4G network

• ambitious 2014/15 4G roll-out plan


consolidated net incomenet income primarily boosted by EBITDA increase

37

in €m Q1 2015 Q1 2014 Var. insight

Reported EBITDAReported EBITDAReported EBITDAReported EBITDA 68.8(25.5 %)

64.5(23.2 %)

+6.8 %• Reflecting stabilising revenues and thoroughcost management

Net incomeNet incomeNet incomeNet income 11.8 9.2 +28.6 %• Reflecting increasing EBITDA and stable dep., fin. res. and taxes.

Net profit per shareNet profit per shareNet profit per shareNet profit per share 0.20 0.15 +28.6 %

Net financial debtNet financial debtNet financial debtNet financial debt 515.6 546.4 -5.6 %

NFD/Restated EBITDANFD/Restated EBITDANFD/Restated EBITDANFD/Restated EBITDA 1.9 1.8

Operational cash flowOperational cash flowOperational cash flowOperational cash flow 42.1 27.1 +55.3 %• Mobistar continued stepping up investments in its mobile network, in particular in the rollout of 4G

Organic cash flowOrganic cash flowOrganic cash flowOrganic cash flow 14.5 11.6 +24.6 %


Outlook 2015JeanJeanJeanJean----Marc Marc Marc Marc HarionHarionHarionHarion, , , , Chief Executive Officer


• Before any impact related to the cable opportunity• Operational cash flow = EBITDA – Net Investments

Mobistar reiterates its 2015 forecasts

39

in €m Q1 2015 2015 outlook

Service RevenuesY-o-Y

270.31(-2.8 %)

Restated EBITDARestated EBITDA margin/Y-o-Y)

69.9(25.8 % / +5.6 %)

260-280*

Net Result 11.8

Net Investments 26.8 >200

Operational Cash Flow* 42.1


Best mobile networkand best-in-breed fixed network

Devices range and services

Open Content, Apps and APIs

mPayment and cloud storage

40

Mobistar positioning:the Trusted Connectivity company


in 2015, Mobistar will be back to fixed connectivity

For Consumers… … and small Enterprises

New Pack

41

Ultra-fast

Internet

Digital TV

+


2014 2015

=

in 2015, Mobistar will stabilize its restated EBITDA

42


2015 full year guidanceMobistar aims at stabilizing its financials in 2015 and reiterates the sameguidance as last year

43

275

guidance range (02/14)

2014Aguidance range (10/14)

265275

2014cb growth initiatives

gross savings

opening base

regulatory impact

2014A

280

250260

280

Dynamic resourcesDynamic resourcesDynamic resourcesDynamic resourcesreallocationreallocationreallocationreallocation

restated EBITDA(in euro millions)

ILLUSTRATIVEACTUAL FIGURES

“restated EBITDA of between 260 and 280 million euros “restated EBITDA of between 260 and 280 million euros “restated EBITDA of between 260 and 280 million euros “restated EBITDA of between 260 and 280 million euros excl. any expenses related to the cable opportunity.”

273

2015 consensus

guidance range (02/15)

280

260


Q&A


2Q 2015 Roadshow Schedule

45

DATE LOCATION BROKER ROADSHOW / CONF.

29-Apr-2015 London Exane BNP Paribas Management Roadshow

5-May-2015 Paris Raymond James Management Roadshow

19-May-2015 New York Berenberg Management Roadshow

20-May-2015 Toronto Royal Bank of Canada Management Roadshow

21-May-2015 Montreal Royal Bank of Canada Management Roadshow

28-May-2015 Nice Société Générale Management Roadshow

3/4-Jun-2015 London Bank of America ML TMT Conference

10-Jun-2015 Amsterdam ABN AMRO Management Roadshow

16-Jun-2015 Geneva / Zurich Royal Bank of Canada Management Roadshow

18-Jun-2015 Nordics JP Morgan Management Roadshow

23/24-Jun-2015 Edinburgh / Dublin HSBC Management Roadshow


Appendix


Quarterly results (1/2)

47

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

SUBSCRIBER BASE EVOLUTIONSUBSCRIBER BASE EVOLUTIONSUBSCRIBER BASE EVOLUTIONSUBSCRIBER BASE EVOLUTION

Mobistar S.A. mobile customers in thousand 3 091.1 3 038.4 3 058.3 3 041.7 3 022.5

- Postpaid in thousand 2 180.2 2 159.9 2 161.2 2 167.8 2 163.3

- Prepaid in thousand 910.9 878.5 897.1 873.8 859.2

M2M SIM cards in thousand 749.1 797.9 833.3 873.6 739.8

MVNO customers in thousand 1 310.6 1 509.1 1 552.4 1 557.3 1 710.0

Total Mobistar S.A.Total Mobistar S.A.Total Mobistar S.A.Total Mobistar S.A. in thousandin thousandin thousandin thousand 5 150.75 150.75 150.75 150.7 5 345.55 345.55 345.55 345.5 5 444.05 444.05 444.05 444.0 5 472.55 472.55 472.55 472.5 5 472.35 472.35 472.35 472.3

Orange Communications Luxembourg S.A. customers in thousand 102.7 100.7 99.5 95.6 95.9

Total Mobistar groupTotal Mobistar groupTotal Mobistar groupTotal Mobistar group in thousandin thousandin thousandin thousand 5 253.45 253.45 253.45 253.4 5 446.25 446.25 446.25 446.2 5 543.55 543.55 543.55 543.5 5 568.15 568.15 568.15 568.1 5 568.25 568.25 568.25 568.2

Mobile internet customers in thousand 111.4 109.0 108.9 111.1 111.5

Fixed telephone lines in thousand 225.8 220.1 214.9 215.7 206.4

Fixed broadband in thousand 41.7 38.4 34.9 33.6 30.6

- ADSL in thousand 41.7 38.4 34.9 33.6 30.6

- Cable in thousand 0 0 0 0 0

Digital cable TV customers in thousand 0 0 0 0 0

ARPU ARPU ARPU ARPU evolutionevolutionevolutionevolutionMobistarMobistarMobistarMobistar blended quarterly ARPU (incl. visitor blended quarterly ARPU (incl. visitor blended quarterly ARPU (incl. visitor blended quarterly ARPU (incl. visitor roaming)roaming)roaming)roaming) in in in in €€€€/month /month /month /month 23.423.423.423.4 23.923.923.923.9 23.923.923.923.9 24.324.324.324.3 23.923.923.923.9

- Postpaid ARPU (excl. visitor roaming and IEW) in €/month 27.2 28.1 27.9 28.2 28.3

- Prepaid ARPU (excl. visitor roaming and IEW) in €/month 13.8 14.1 13.6 13.4 12.2Orange Communications Luxembourg blended Orange Communications Luxembourg blended Orange Communications Luxembourg blended Orange Communications Luxembourg blended quarterly ARPU (incl. visitor roaming)quarterly ARPU (incl. visitor roaming)quarterly ARPU (incl. visitor roaming)quarterly ARPU (incl. visitor roaming) in in in in €€€€/month/month/month/month 41.941.941.941.9 41.041.041.041.0 39.139.139.139.1 37.137.137.137.1 37.837.837.837.8


Quarterly results (2/2)

48

(*) After elimination of intercompany transactions.

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

STATEMENT OF COMPREHENSIVE INCOMESTATEMENT OF COMPREHENSIVE INCOMESTATEMENT OF COMPREHENSIVE INCOMESTATEMENT OF COMPREHENSIVE INCOMEMobistar mobile service revenues in million € 240.3 246.2 243.7 245.0 237.8

Mobistar non-mobile service revenues in million € 24.5 24.4 21.0 20.5 21.4Orange Communications Luxembourg service revenues in million € 13.5 13.0 12.4 12.2 11.8

Total Total Total Total consolidatedconsolidatedconsolidatedconsolidated service revenues(*)service revenues(*)service revenues(*)service revenues(*) in million in million in million in million €€€€ 278.1278.1278.1278.1 283.3283.3283.3283.3 276.7276.7276.7276.7 277.2277.2277.2277.2 270.3270.3270.3270.3

Total consolidated handset sales in million € 38.9 28.9 27.7 38.4 33.1

Total Total Total Total consolidatedconsolidatedconsolidatedconsolidated turnoverturnoverturnoverturnover in million in million in million in million €€€€ 317.0317.0317.0317.0 312.2312.2312.2312.2 304.4304.4304.4304.4 315.6315.6315.6315.6 303.4303.4303.4303.4

ConsolidatedConsolidatedConsolidatedConsolidated restatedrestatedrestatedrestated EBITDAEBITDAEBITDAEBITDA in million in million in million in million €€€€ 66.166.166.166.1 74.374.374.374.3 77.377.377.377.3 57.257.257.257.2 69.969.969.969.9

% of serv. rev. 23.8% 26.2% 27.9% 20.6% 25.8%

ConsolidatedConsolidatedConsolidatedConsolidated EBITDAEBITDAEBITDAEBITDA in million in million in million in million €€€€ 64.564.564.564.5 72.572.572.572.5 70.770.770.770.7 47.747.747.747.7 68.868.868.868.8

% of serv. rev. 23.2% 25.6% 25.6% 17.2% 25.5%

Total consolidated net resultTotal consolidated net resultTotal consolidated net resultTotal consolidated net result in million in million in million in million €€€€ 9.29.29.29.2 15.015.015.015.0 12.312.312.312.3 6.86.86.86.8 11.811.811.811.8EPS calculated on the basis of the outstanding shares at the end of the quarter in €/month 0.15 0.25 0.21 0.11 0.20

Total consolidated CAPEX in million € 37.4 55.6 45.3 76.9 26.8

% of serv. rev. 13.5% 19.7% 16.4% 27.7% 9.9%

Organic cash flow in million € 11.6 1.5 23.1 -6.5 14.5


EBITDA restatementsfrom restated EBITDA to reported EBITDA

49

in €m Q1 2015 Q1 2014 insights

Restated EBITDA(as percentage of service revenues)

69.9(25.8 %)

66.1(23.8 %)

Labor relatedor redundancy costs

0.7 -1.6

Non-labor relatedor restructuring costs

-1.7 -0

Reported EBITDA(as percentage of service revenues)

68.8(25.5 %)

64.5(23.2 %)


Investor Relations:Investor Relations:Investor Relations:Investor Relations:• [email protected]• +32 2 745 80 92• corporate.mobistar.be

@pressmobistar@harion

www.linkedin.com/company/3673

mobistar first quarter 2015 results - orange belgium · mobistar first quarter 2015 results. ......

Documents