ANNUAL GENERAL MEETING - PowerPoint PPT Presentation

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ANNUAL GENERAL MEETING

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  1. ANNUAL GENERAL MEETING 29 OCTOBER 2003

  2. Current Year Performance

  3. Annual Performance

  4. Subscribers

  5. Pay Television Penetration • Australia 22% • France 32% • New Zealand 39% • United Kingdom 41% • Finland 45% • Germany 70% • Switzerland 83% • United States 85% • BeNeLux 95%

  6. ‘000 2002 2003 % Change UHF Residential 136.3 117.7 (13.6%) DBS (Satellite) Residential 284.3 340.3 19.7% DBS Wholesale 75.4 76.7 1.7% Commercial 7.2 8.1 12.5% Total Subscribers 503.2 542.9 7.9% Subscriber Growth

  7. Moving Annual Churn

  8. Churn

  9. Net Gain

  10. Subscriber Revenue CAGR 15.8%

  11. Total ARPU

  12. ARPU

  13. Advertising Revenue CAGR 17.9%

  14. Programming Costs % Revenue

  15. EBITDA CAGR 25.6%

  16. Capital Expenditure (excluding transponders)

  17. Net Profit/(Loss)

  18. $NZ million 2002 2003 % Change Revenue 344.6 391.3 13.6% Operating Expenses 236.4 240.5 1.7% EBITDA 108.2 150.8 39.4% Depn & Amort 113.0 124.1 9.8% EBIT (4.8) 26.7 656.3% Interest 26.7 28.0 4.9% Other (1.3) (2.0) 53.8% Net Profit/(Loss) after Tax (30.2) 0.7 102.3% Results Summary

  19. $NZ million 2002 2003 % Change Residential 266.0 309.1 16.2% Commercial 19.6 22.3 13.8% Sky Watch 6.1 6.8 11.5% Advertising 16.5 19.6 18.8% Installation, programming sales & other 36.4 33.5 (8.0)% Total Revenue 344.6 391.3 13.6% Revenue Analysis

  20. $ million 2002 2003 % Change Programming 166.6 168.1 0.9% Subscriber Management 12.7 13.7 7.9% Transmission 6.9 7.0 1.4% Selling, General & Administration 48.6 49.7 2.3% Depreciation & Amortisation 113.1 124.1 9.7% Total Operating Expenses 347.9 362.6 4.2% Expense Analysis

  21. Satellite Renewal

  22. New LNB Technology Existing LNB Dual LNB Satellite 1 Redundant Satellite

  23. 1 November 2003

  24. 1 December 2003

  25. 24 December 2003

  26. 2004 Guidance • At our results announcement in August we provided the following guidance: NZ$m EBITDA 175 - 180 NPAT 28 - 35 Capex 65 - 70

  27. ANNUAL GENERAL MEETING 29 OCTOBER 2003