22nd Jul 2005 10:30
Cesky Telecom A.S.22 July 2005 CESKY TELECOM - Facts & Figures This document is intended for information purposes only. Although CESKY TELECOM, a.s.makes every effort to provide accurate information, we cannot accept liability forany misprints or other errors. All financials in CZK million, unless specified otherwise.Results are presented under International Financial Reporting Standards. All resultsare consolidated, unless specified otherwise. Financial results 2002-2004 are audited. Interim financial results are not audited.Consolidated financial statements are based on 51% proportional consolidation ofEurotel to 30 November 2003 and full consolidation from December 2003 on. 1H 2004 1H 2005 CONSOLIDATED INCOME STATEMENT Fixed Mobile Group Fixed Mobile Group1) Revenues 17 241 13 902 31 143 15 869 14 150 30 019Operating costs excl. (8 835) (7 130) (15 965) (8 832) (7 699) (16 531)depreciation and amortization_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _EBITDA 8 406 6 772 15 178 7 037 6 451 13 488EBITDA margin 49% 49% 49% 44% 46% 45% Depreciation and amortization (7 644) (2 797) (10 441) (6 600) (2 605) (9 205)Impairment charge 0 0_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _EBIT 762 3 975 4 737 437 3 846 4 283 Interest expense (678) (456)Interest income 49 20Other financial charges (139) (37)Currency gains/(losses) 2) 378 108_ _ _ _ _ _ _ _ _ _ _ _ _ _ _Profit Before Tax 4 347 3 918 Income Tax (1 018) (1 362)_ _ _ _ _ _ _ _ _ _ _ _ _ _ _Group profit before minority 3 329 2 556interest Minority interest 2 1_ _ _ _ _ _ _ _ _ _ _ _ _ _ _Net profit 3 331 2 557Earnings per share (annualized, 21 16CZK) REVENUES - FIXED LINE 3) - Breakdown before adjustments 1H 2004 1H 2005 1H05/1H04 in % Communications traffic revenues 5 455 4 090 (25,0%) - PSTN 3 973 3 009 (24,3%) - ISDN 1 482 1 081 (27,1%) Subscription charges 5 971 5 616 (5,9%) - PSTN 5 060 4 801 (5,1%) - ISDN 911 815 (10,5%) Connection charges 125 47 (62,4%) - PSTN 81 30 (63,0%) - ISDN 44 17 (61,4%) Internet, data, value added and other services 1 741 2 187 25,6% - Internet 292 266 (8,9%) - Data network services 790 873 10,5% - ADSL 169 611 261,5% - other telecommunications services 4) 490 437 (10,8%) Revenues from other network operators 1 818 2 230 22,7% - international 796 1 195 50,1% - domestic 1 022 1 035 1,3% Leased circuits 1 396 1 358 (2,7%) Equipment sales and sales of materials 127 180 41,7% Other revenues 791 359 (54,6%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total revenues 17 424 16 067 (7,8%) REVENUES - MOBILE 5) - Breakdown before adjustments 1H 2004 1H 2005 1H05/1H04 in % Communications traffic revenues 5 850 5 614 (4,0%) Subscription charges 2 592 2 860 10,3% Connection charges 52 35 (32,7%) SMS, MMS, Internet, Data & VAS 6) 1 842 2 179 18,3% Revenues from international network operators 802 757 (5,6%) Revenues from domestic network operators 2 621 2 442 (6,8%) Equipment sales and sales of materials 720 679 (5,7%) Other revenues 140 3 n.m. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Revenues 14 619 14 569 (0,3%) Fixed line revenues before adjustments 17 424 16 067 (7,8%) Mobile revenues before adjustments 14 619 14 569 (0,3%) Shareholding adjustment 0 0 0,0% Consolidation adjustment (900) (617) (31,4%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total revenues - consolidated 31 143 30 019 (3,6%) OPERATING COSTS - FIXED LINE 3) before adjustments 1H 2004 1H 2005 1H05/1H04 in % Payments to international network operators 801 1 127 40,7% Payments to domestic network operators 1 599 1 429 (10,6%) Equipment and material cost of sales 313 176 (43,8%) Commissions and subcontractors 187 203 8,6% Staff costs 3 151 3 029 (3,9%) Material and energy consumed 488 459 (5,9%) Repairs and maintenance 902 861 (4,5%) Marketing and sales 238 277 16,4% Operating lease payments and building expenses 289 269 (6,9%) Consultancy 112 161 43,8% Other operating costs 1 288 1 370 6,4% _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total operating costs 9 368 9 361 (0,1%) OPERATING COSTS - MOBILE 5) before adjustments 1H 2004 1H 2005 1H05/1H04 in % Payments to international network operators 779 767 (1,5%) Payments to domestic network operators 2 076 2 050 (1,3%) Equipment and material cost of sales 1 400 1 328 (5,1%) Commissions and subcontractors 171 254 48,5% Staff costs 821 1 226 49,3% Material and energy consumed 306 259 (15,4%) Repairs and maintenance 411 494 20,2% Marketing and sales 563 532 (5,5%) Operating lease payments and building expenses 380 389 2,4% Consultancy 88 79 (10,2%) Other operating costs 430 518 20,5% _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Operating Costs 7 425 7 896 6,3% Fixed line operating costs before adjustments 9 368 9 361 (0,1%) Mobile operating costs before adjustments 7 425 7 896 6,3% Shareholding adjustment 0 0 0,0% Consolidation adjustment (828) (726) (12,3%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total operating cost - consolidated 15 965 16 531 3,5% OPERATIONAL DATA - FIXED LINE 1H 2004 1H 2005 1H05/1H04 in % Telephone lines in operation (incl. ISDN channels), 3 471 3 249 (6,4%) e.o.p. (x 1000) Business (incl. service lines and payphones) (x 1000) 1 112 1 029 (7,5%) Residential (x 1000) 2 359 2 220 (5,9%) - PSTN lines (x 1000) 2 941 2 757 (6,3%) - ISDN channels (x 1000) 504 466 (7,5%) - Payphones in operation, e.o.p. (x 1000) 26 26 (1,7%) - ADSL connections (x1000) 32 163 410,1% Internet IOL customers, e.o.p. (x 1000) 7) 937 1 118 19,3% Total outbound minutes (x 1 000 000) 5 007 3 616 (27,8%) Local 1 425 1 149 (19,4%) LD 399 350 (12,3%) International 73 66 (9,1%) Fixed to Mobile 208 184 (11,6%) Internet 2 722 1 730 (36,4%) Other 181 137 (24,2%) Total inbound minutes off-net (x 1 000 000) 951 1 002 5,4% Domestic 862 893 3,6% International 89 109 22,5% Avg. monthly minutes of use per customer 8) 281 229 (18,6%) EESKY TELECOM employees, e.o.p. 9 421 7 935 (15,8%) Lines per fixed line employee, e.o.p. 368 409 11,1% Other subsidiaries employee, e.o.p. 23 35 52,2% OPERATIONAL DATA - MOBILE 1H 2004 1H 2005 1H05/1H04 in % EOP registered customers (x 1000) 4 114 4 420 7,4% GSM postpaid customers 936 1 197 27,9% GSM prepaid customers 8) 3 142 3 141 (0,0%) NMT customers 36 82 127,8% GPRS Flat fee customers (x 1000) 56 65 16,1% CDMA customers (x 1000) 0 49 n.m. GSM postpaid customer churn (in %, annualized) 10 8 (20,0%) Total minutes - outbound & inbound (x 1 000 000) 2 193 2 300 4,9% Avg. monthly minutes of use per customer - blended 9) 89 88 (0,8%) Total number of SMS (x 1 000 000) 1 126 1 201 6,6% ARPU - blended (in CZK) 10) 528 503 (4,7%) Eurotel employees (all staff), e.o.p. 2 463 2 500 1,5% BALANCE SHEET - FIXED LINE 3) 30.6.2004 30.6.2005 1H05/1H04 % Fixed Assets 116 430 105 186 (9,7%) tangible fixed assets 81 864 73 097 (10,7%) construction in progress 668 514 (23,1%) intangible fixed assets 4 177 2 037 (51,2%) available-for-sale and held-to maturity 272 89 (67,3%) investments investments 29 449 29 449 0,0% Current Assets 6 657 5 881 (11,7%) inventories 472 238 (49,6%) receivables 5 932 5 441 (8,3%) cash and cash equivalents 11) 253 202 (20,2%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Assets 123 087 111 067 (9,8%) Total Equity 74 655 81 080 8,6% Equity 74 648 81 080 8,6% Share capital 32 209 32 209 0,0% Reserves 42 439 48 871 15,2% Minority interest 7 0 (100,0%) Liabilities 48 432 29 987 (38,1%) Loans and overdrafts 30 024 16 531 (44,9%) - of which: short term 5 426 6 326 16,6% long term 24 598 10 205 (58,5%) Creditors 11 954 5 706 (52,3%) Provisions 6 454 7 750 20,1% _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Equity and Liabilities 123 087 111 067 (9,8%) BALANCE SHEET - MOBILE 5) 30.6.2004 30.6.2005 1H05/1H04 % Fixed Assets 27 565 25 054 (9,1%) tangible fixed assets 20 568 18 842 (8,4%) construction in progress 1 594 612 (61,6%) intangible fixed assets 5 392 5 589 3,7% available-for-sale and held-to maturity 0 0 0,0% investments investments 11 11 0,0% Current Assets 6 372 6 058 (4,9%) inventories 444 358 (19,4%) receivables 4 810 4 866 1,2% cash and cash equivalents 11) 1 118 834 (25,4%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Assets 33 937 31 112 (8,3%) Total Equity 25 815 24 592 (4,7%) Share capital 1 650 1 650 0,0% Reserves 24 165 22 942 (5,1%) Liabilities 8 122 6 520 (19,7%) Loans and overdrafts 1 141 0 (100,0%) - of which: short term 1 141 0 (100,0%) long term 0 0 0,0% Creditors 4 406 4 049 (8,1%) Provisions 2 575 2 471 (4,0%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Equity and Liabilities 33 937 31 112 (8,3%) CONSOLIDATED BALANCE SHEET 30.6.2004 30.6.2005 1H05/1H04 % Fixed Assets 131 098 116 663 (11,0%) tangible fixed assets 101 732 91 585 (10,0%) construction in progress 2 415 1 125 (53,4%) intangible fixed assets 12 994 10 533 (18,9%) goodwill 13 674 13 320 (2,6%) available-for-sale and held-to maturity 272 89 (67,3%) investments investments 11 11 0,0% Current Assets 12 215 11 183 (8,4%) inventories 916 596 (34,9%) receivables 9 928 9 551 (3,8%) cash and cash equivalents 10) 1 371 1 036 (24,4%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Assets 143 313 127 846 (10,8%) Total Equity 88 023 92 789 5,4% Equity 88 016 92 789 5,4% Share capital 32 209 32 209 0,0% Reserves 55 807 60 580 8,6% Minority interest 7 0 (100,0%) Liabilities 55 290 35 057 (36,6%) Loans and overdrafts 31 165 16 531 (47,0%) - of which: short term 6 567 6 326 (3,7%) long term 24 598 10 205 (58,5%) Creditors 14 111 8 730 (38,1%) Provisions 10 014 9 796 (2,2%) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total Equity and Liabilities 143 313 127 846 (10,8%) CONSOLIDATED CASH FLOW STATEMENT 30.6.2004 30.6.2005 1H05/1H04 % Interest paid (366) (167) (54,4%) Interest received 51 25 (51,0%) Income tax paid (1 410) (1 935) 37,2% Net cash from operating activities 12 644 11 731 (7,2%) Purchase of property, plant and equipment (2 972) (1 981) (33,3%) Purchase of intangible assets (154) (679) 340,9% Purchase of financial investments 0 0 0,0% Purchase of marketable securities 0 0 0,0% Disposal of property, plant and equipment 279 70 (74,9%) Proceeds from marketable securities 215 125 n.m. Net cash used in investing activities (2 632) (2 465) (6,3%) Free cash flow I 12) 9 797 9 141 (6,7%) Free cash flow II 13) 10 112 9 283 (8,2%) Net cash outflow before financing 10 012 9 266 (7,5%) Net cash from financing activities (13 446) (8 784) (34,7%) Acquisition impact (cash) 0 0 0,0% Effect of exchange rate changes (1) 0 n.m. Net cash increase / (decrease) (3 434) 482 n.m. Notes 1) Consolidated data; Data for Fixed and Mobile segments are presented after consolidation and shareholding adjustments 2) Incl. Fair value gains/(losses) on financial instruments 3) Data for fixed line business are for Eesky Telecom and minor subsidiaries (excluding Eurotel), i.e. beforeconsolidation and shareholding adjustments between fixed and mobile segments 4) Audiotex, prepaid cards, VAS, and other telecommunications services 5) Data for mobile business are for Eurotel, i.e. before consolidation and shareholding adjustments - between fixed andmobile segment 6) Audiotex, Detailed bill and other VAS 7) Paid access (IOL), free access (Quick.cz) and Internet Express (Eesky Telecom) 8) As of 30 June 2005, Eurotel changed its methodology of GSM prepaid customers calculation (GSM prepaid customer =customer who recharged within last 13 months); for comparative purposes we adjusted number of prepaid customers as at FY 2004 and 1H 2004 9) In + outbound; based on new methodology of GSM prepaid customers calculation (see Note 8) 10) ARPU Mobile = Average Mobile service revenue excl. Roaming visitors per Customer month; based on new methodology ofGSM prepaid customers calculation (see Note 8) 11) Incl. Available-for-sale and held-to-maturity investments 12) Net operating cash plus Net investing cash excl. Marketable securities and Purchase of financial investments 13) Net operating cash excl. Interest paid plus Net investing cash excl. Marketable securities, Purchase of financialinvestments and Interest received This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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