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welcomeTeymi’ s results Q2 2008
programmeHighlightsIncome Statement, Balance Sheet and Statement of Cash FlowYear 2008Q & A
Sales ISK 6.4 billion
Teymi’s growth (inner growth13%) 24,3%- Electronic Communications 10%- IT (inner growth 7%) 33%
EBITDA 1.045 mkr
Results ISK -610 million
Cash generated by operations before interests and tax ISK 797 million
Highlights : Q2 2008
ISK 5 billion converted at exchange rate index 164
- Annual interest payments decreased by ISK 600 mkr (at current interest rates)
Tal has become the third biggest telecom operator in Iceland- Sko and Hive merged under the brand Tal (focusing on low-end markets)
Kall in the Faroe Islands became Vodafone Faroe Islands- Subsidiary of Vodafone Iceland- Increasing products and services on offer in the Faroes at lower cost
Rationalisation- Streamlining operations - Decreasing investments
Highlights : Q2 2008
Solid operations
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
Turnover Ebitda Quarter results
Negative foreign exchange differenceISK 5,2 billion
mkr
1,160
-1.187-221
-4.899
1,027
1,135 1,063 1,003
ISK 1,1 recorded loss due to Hands
Holding
5,165 5,3226,249 5,973 6,418
1,045
-610
Development of revenues(in ISK million)
2Q 07 2Q 08
535
6.4185.165
+24%
Development of revenues in electronic communications
Q2 06 Q2 07 Q2 08
3.4963.180
2.671
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
3.0473.2503.3533.180
3.496
ISK million
+19%
+10%
31% inner growth in two years
Development of revenues in IT
Q2 07 Q2 08
5362.908
2.186
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
2.908
469536
3.2293.342
2.0442.186
ISK million
+33%
Ebitda contribution margin
Q2 07 Q2 08
40
1.0451.027
18,716,3
%
mkr
1H 07 1H 08
162
2.0481.812
17,6 16,5
Ebitda contribution margin - electronic communications
Q2 07 Q2 08
789829
26,122,6
%
mkr
1H 07 1H 08
1.4281.393
23,0 21,8
Ebitda contribution margin - IT
Q2 07 Q2 08
40
291238
10,2 10,0%
mkr
1H 07 2H 08
162
699530
12,411,4
Sales and ebitda by segmentsFirst half of 2008
Electronic communications52%IT
48%
Sales
Electronic communications67%
IT33%
Ebitda
programmeHighlightsIncome Statement, Balance Sheet and Statment of Cash FlowYear 2008Q & A
Income Statement
Balance Sheet - Assets
Balance Sheet - Equity and Liabilities
Interestbearing liabilities after cash (“net debt”) amounts to ISK 27,7 billionEquity ratio 18% at the end of June 2008Current ratio 0,82 at the end of June 2008
Cash Flow
Financing 30 June 2008
44%
37%
19%
ISK indexedForeign currencyISK without indexation
StatusWeighted average interest rates at 11,2% (liabilitites
in ISK without indexation raise the average)
Permission to convert currency
Aiming at maintaining majority of liabilities in
foreign currency
programmeHighlightsIncome Statement, Balance Sheet and Statement of Cash FlowYear 2008Q & A
Analysts forecasts for Q2
Summary
Acceptable results in a difficult environment [24% growth in sales]
Strong Cash Flow [ISK 1,656 million from operations]
Annual interest payments decreased by ISK 600 million [ISK 5 billion converted in foreign currency]
Tal the third biggest telecom operator in Iceland [focusing on low-end markets]
Kall in the Faroe Islands becomes Vodafone [subsidiary of Vodafone Iceland]
The state of the national economy calls for rationalisationEnacted measures already yielding results Investments delayed
Q & A
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