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Quarterly report (Q2) 2007

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Presentation Tele2s Quarterly report 2007 (Q2)

Presentation Tele2s Quarterly report 2007 (Q2)

Published in: Investor Relations, Business

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  • 1. Q 2 2007 IAL RE PORT FI NANC Lars-Johan Jarnheimer President and CEO
  • 2. UPDATE ON THE STRATEGIC REVIEW 2006 H1 2007  22 Countries  Disposals/withdrawals  18 Countries  Mobile/MVNO in (resale based)  Mobile/MVNO in 14 countries  France fixed and 13 countries broadband  Broadband in 12  Denmark  Broadband in 10 countries  Portugal countries  Hungary  Fixed in 15  Alpha and C3  Fixed in 12 countries countries
  • 3. FINANCIAL HURDLES We have set a minimum EBITDA hurdle of 20 percent that each of Tele2’s geographies should meet or exceed in the medium term
  • 4. TELE2: Q2 2007 RESULTS SEK MILLION H1-07 H1 -06 Q2 -07 Q2 -06 Continuing operations Operating revenue 25,947 24,629 13,110 12,386 Net customer intake (‘000) 663 1251 382 634 EBITDA 3,230 2,458 1,737 1,237 • Mobile revenues in Q2 2007 increased by 25.5 percent to SEK 5.8 billion • Solid broadband intake during Q2 2007, adding a total of 221,000 new broadband customers • Fixed telephony EBITDA margin at 12 (9) percent in Q2 2007 All numbers including discontinued operations
  • 5. CONTINUED SHIFT TOWARDS INFRASTRUCTURE BASED SERVICES Revenue distribution H1 -07 Revenue distribution H1 -06 14% 19% 37% 44% 37% 49% Mobile telephony Mobile telephony Fixed telephony (resale & dial-up) Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB) Broadband (resale, direct & LLUB)
  • 6. EBITDA CONTRIBUTION PER SEGMENT (MSEK) 4 000 3 500 3 000 2 500 2 000 1 500 1 000 500 0 -500 H1 -07 H1 -06 -1 000 Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB)
  • 7. CONTINUED STRONG PERFORMANCE IN MOBILE TELEPHONY SEK MILLION H1-07 H1 -06 Q2 -07 Q2 -06 Mobile telephony Operating revenue 11,045 8,682 5,826 4,644 Net customer intake (‘000) 1,678 1,895 931 986 EBITDA 2,489 1,699 1,401 953 • Mobile revenues in Q2 2007 increased by 25.5 percent to SEK 5.8 billion • Continued excellent performance in Russian mobile operations with EBITDA margin of 33 percent in Q2 2007 • Improved development in MVNO. • Clean up of customer base in the Nordic market area by 759,000 in Q2 2007
  • 8. STRONG BROADBAND INTAKE SEK MILLION H1-07 H1 -06 Q2 -07 Q2 -06 Broadband resale, DA/LLUB Operating revenue 4,736 3,299 2,460 1,697 Net customer intake (‘000) 475 273 221 129 EBITDA -672 -580 -322 -274 • Robust broadband intake during Q2 2007, adding a total of 221,000 new broadband customers • Southern Europe has turned the corner when it comes to operational performance
  • 9. STABLE MARGIN – INCREASED COMPETITION SEK MILLION H1-07 H1 -06 Q2 -07 Q2 -06 Fixed telephony resale Operating revenue 9,119 11,558 4,323 5,541 Net customer intake (‘000) -1,490 -917 -770 -481 EBITDA 1,185 1,136 536 474 • Fixed telephony EBITDA margin 12 (9) percent in Q2 2007 • Continued high level of competition from primarily mobile operators – Larger net customer outflow – Stronger ARPU decline than expected • Fixed line operations a valuable asset – Strive to maximize value through an extremely cost- conscious regime – Broadband cross-selling
  • 10. Q2 2007 SUMMARIZED • Good development in the realignment process • We have implemented a minimum EBITDA hurdle of 20 percent that each of Tele2’s geographies should meet or exceed in the medium term • Strong operational development in core operations TELE2: CONTINUED OPERATIONS MSEK H1 -07 H1 -06 Q2 -07 Q2 -06 Operating revenue* 25,947 24,629 13,110 12,386 Net intake (‘000) 663 1,251 382 634 EBITDA* 3,230 2,458 1,737 1,237 *Excluding non-recurring items
  • 11. Q 2 2007 IAL RE PORT FI NANC Lars Nilsson CFO
  • 12. FINANCIAL OVERVIEW FOR Q2 2007 – CONTINUING OPERATIONS H1 -07 Diff H1 -06 Q2 -07 Diff Q2 -06 Revenues (MSEK) 25,947 5,3% 13,110 5,8% EBITDA (MSEK) 3,230 31,4% 1,737 40,4% CAPEX (MSEK) 2,516 -3,0% 1,335 -5,7% Net Intake (‘000) 663 -47,0% 382 -39,7% Excluding disposals* H1 -07 Diff H1 -06 Q2 -07 Diff Q2 -06 Revenues (MSEK) 24,268 7,4% 12,380 8,3% EBITDA (MSEK) 3,128 24,7% 1,691 34,7% *Alpha, C3, Datametrix (NO), Denmark, Portugal, Ungern and UNI 2 (DK)
  • 13. OPERATING REVENUE PER SEGMENT (MSEK) 14 000 12 000 10 000 8 000 6 000 4 000 2 000 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB)
  • 14. EBITDA AND NET INTAKE PER SEGMENT ('000) Net Intake (MSEK) EBITDA 2 000 2 000 1 500 1 500 1 000 1 000 500 500 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 -500 -500 -1 000 -1 000 Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB) Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB)
  • 15. TELE2 MOBILE (MSEK) Sales (MSEK) EBITDA vs Net Intake '000 6 000 1 400 1 400 1 200 1 200 5 000 1 000 1 000 4 000 800 800 3 000 600 600 2 000 400 400 1 000 200 200 0 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07
  • 16. TELE2 RUSSIA (MSEK) Sales 1400 (MSEK) EBITDA vs Net Intake '000 500 1000 1200 450 900 1000 400 800 350 700 800 300 600 600 250 500 200 400 400 150 300 100 200 200 50 100 0 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 • Net intake of 839,000 customers to a total of 7,9 million customers • ARPU of 56 SEK in Q2 2007 compared to 44 SEK in Q2 2006 • EBITDA margin 33 (13) percent
  • 17. TELE2 BALTIC (MSEK) Sales (MSEK EBITDA vs Net Intake '000 1200 ) 500 120 450 1000 100 400 800 350 80 300 600 250 60 200 400 40 150 200 100 20 50 0 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07
  • 18. SWEDEN MOBILE (MSEK) Sales (MSEK) EBITDA vs Net Intake '000 1900 900 50 1850 800 40 700 1800 30 600 1750 500 20 1700 400 10 300 1650 0 200 1600 -10 100 1550 0 -20 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 • EBITDA-margin still affected by higher costs from adding post-paid subscribers • Sweden adding 46,000 customers in Q2 2007
  • 19. NET DEBT (MSEK) Net Debt and Net Debt to EBITDA 18000 3 16000 2,5 14000 12000 2 10000 1,5 8000 6000 1 4000 0,5 2000 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07
  • 20. CAPEX, depreciation and amortization (MSEK) Capex (MSEK) Depreciation and Amortization 1600 1600 1400 1400 1200 1200 1000 1000 800 800 600 600 400 400 200 200 0 0 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Q2 -06 Q3 -06 Q4 -06 Q1 -07 Q2 -07 Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB) Mobile telephony Fixed telephony (resale & dial-up) Broadband (resale, direct & LLUB)
  • 21. COMMENTS ON INCREASED TAX • Tele2 Germany changed tax rate from 40% to 30%, which had an impact of -193 MSEK • Increased profits in Russia had an impact of -53 MSEK • Divestment of operations in C3; revaluate tax-loss-carry-forwards
  • 22. QUESTIONS & ANSWERS Contacts Lars-Johan Jarnheimer Telephone: + 46 (0)8 5626 4000 President and CEO, Tele2 AB Lars Nilsson Telephone:+46 (0)8 5626 4000 CFO, Tele2 AB Lars Torstensson Telephone: + 46 (0) 702 73 48 79 IR Director, Tele2 AB