Half year report december 2002 19 february 2003
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Half Year Report December 2002 19 February 2003. Subscriber Count. Total Revenue. CAGR 16%. $345. Pay Television Penetration. Australia 22% France 32% New Zealand 37% United Kingdom 41% Finland 45% Germany 70% Switzerland 83% United States 85%

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Half year report december 2002 19 february 2003

Half Year ReportDecember 200219 February 2003



Total revenue
Total Revenue

CAGR 16%

$345


Pay television penetration
Pay Television Penetration

  • Australia 22%

  • France 32%

  • New Zealand 37%

  • United Kingdom 41%

  • Finland 45%

  • Germany 70%

  • Switzerland 83%

  • United States 85%

  • BeNeLux 95%


Moving Annual Gross Churn





Skybet
SkyBet

SKY Bet


Advertising revenue
Advertising Revenue

CAGR 22%

$16.5


The effect of rugby

2000

2002

2001

Tri Nations Rugby Live

Tri Nations Rugby Live

Inter Rugby Live

Tri Nations Live

Inter Rugby Live

Super 12 Final Live

Inter Rugby Live

Super 12 Rugby Live

Super 12 Rugby Live

Inter Rugby Live

Tri Nations Rugby Live

Tri Nations Rugby Live

NPC Rugby Live

Bledisloe Cup Live

Super 12 Live

NPC Rugby Live

International Rubgy Live

NPC Rugby Live

Tri Nations Live

NPC Rugby Live

Tri Nations Rugby Live

NRL Pre Final

NRL Final Live Live

Tri Nations Live

Tri Nations Live

Inter Rugby Live

Inter Rugby Live

NPC Final Live

Super 12 Final Live

Inter Rugby Live

The Effect of Rugby

SKY’s Top Ten Rating Programmes in SKY Homes (%)

Source: AC Neilson McNair


Programming costs as a percentage of revenue
Programming Costsas a percentage of revenue

49%


Monthly Closes

NZ$/US$ (Dec'84-Dec'02)

Source: Reuters


Ebitda
EBITDA

CAGR 16%

$108.2



Subscriber growth

‘000

2001

2002

% Change

UHF Residential

138.6

121.6

(12%)

DBS Residential

267.1

310.3

16%

DBS Wholesale

30.4

77.2

154%

Commercial

6.7

7.6

13%

Total Subscribers

442.8

516.7

17%

Subscriber Growth



Expense analysis

$ million

2001

2002

% Change

Programming

80.9

78.9

(2.5%)

Subscriber Management

6.2

6.1

(0.2%)

Transmission

3.4

3.5

1.7%

Selling, General & Administration

24.2

23.9

(1.3%)

Depreciation & Amortisation

54.4

60.9

12%

Total Operating Expenses

169.1

173.3

2.5%

Expense Analysis


Free cash flow

$ million

2001

2002

% Change

Net Operating Cash Flow

42.5

70.7

66.4%

Net Investing Cash Flows

(59.6)

(59.5)

(0.2%)

Free Cash Flow

(17.1)

11.2

166%

Free Cash Flow


Foreign currency hedging
Foreign Currency Hedging

49% hedged for 0-12 months $US exposures @ .4354

21% hedged for 12-24 months $US exposures @ .4303

97% hedged for 0-12 months $A exposures @.8506

0% hedged for 12-24 months $A exposures

average payment rate for 6 mths to Dec 02 - 44.5c


Capital expenditure excluding transponders
Capital Expenditure (excluding Transponders)

$107.9




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