Transcript 1Q2003 Analysts Conference May 20, 2003

1Q2003 Analysts Conference
May 20, 2003
Content

1Q 2003 highlights

1Q 2003 financial summary

TA Orange

Focus going forward

Q&A
2
1Q 2003 highlights

Continued rapid growth in consolidated revenue driven by
strong performance of TA Orange

Flat revenue and EBITDA growth excluding TA Orange

Fixed line telephone impacted by reintroduction of
installation fee and decline in ARPU

Data/Internet/Broadband businesses strengthening

Broadband business to expand further

Balance sheet further improved
3
Continued rapid growth in consolidated revenue
from strong performance of TA Orange
Including TA Orange
1Q03
4Q02
1Q02
%QoQ %YoY
Revenue
6,794
7,050
5,592
-3.6% +21.5%
EBITDA
2,731
2,418
2,603
+13.0% +4.9%
NIOGO *
(1,131)
(1,324)
173
+14.6% -752.8%
FCF
(1,136)
(114)
(1,496)
-893.4% +24.0%
* NIOGO represents net income (loss) from ongoing operations including share of loss in associates but
excluding non-recurring items.
4
Flat revenue/EBITDA growth excluding TA Orange
Excluding TA Orange
1Q03
4Q02
1Q02
%QoQ %YoY
Revenue
5,536
5,687
5,481
-2.7%
+1.0%
EBITDA
2,934
2,678
2,988
+9.6%
-1.8%
NIOGO *
(427)
(721)
(140)
FCF
1,023
2,323
854
+40.8% -204.2%
-56.0%
+19.7%
* NIOGO represents net income (loss) from ongoing operations including share of loss in associates
but excluding non-recurring items.
5
Balance sheet further improved
USD Exposure
Debt profile by currency (excluding TA Orange)
THB million
USD million
75,051
73,607
1,021
65,920
16,091
855
64,902
16,239
11,376
809
11,167
3,368
569
25,242
35,134
51,176
53,735
4Q02
1Q03
32,125
23,826
78
0
1998
1999
2000
2001
2002
1Q03
2000
2001
Baht loan
Foreign Debt
US$ Loan
Yen Loan
2000
2001
2002
1Q03
68%
56%
22%
17%
6
Fixed line telephone impacted by reintroduction of
installation fee and decline in ARPU
Reintroduction of installation fee
Revenue - Fixed Line Telephone
THB Million
5,244
4,914
1Q02
2Q02
5,135
 Short-term impact
5,022
3Q02
4Q02
4,915
1Q03
– Reduction in first quarter subscribers
– Customers waiting for special
promotions
– Decrease in overall revenue
 Long-term benefits
– Creating shareholder value
– Improving customer service
– Attracting/retaining higher value
customers
– Reducing churn rate
– Lowering bad debt
Net Additions
111,344
73,255
51,545
37,532
177
1Q02
2Q02
3Q02
4Q02
1Q03
7
Fixed line telephone impacted by reintroduction of
installation fee and decline in ARPU (cont’d)
ARPU Trends - Fixed Line Telephone
750
700
% Fixed Line Call to Mobile to ARPU
%
Bt
633
685
662
40%
572
35%
657
31.1%
650
615
603
579
28.5%
30%
597
600
564
24.9%
554
550
25%
528
33.3%
32.5% 33.2%
26.2%
22.8%
21.3%
500
20%
450
15%
400
10%
2000
1Q01
2Q01
3Q01
4Q01
1Q02
2Q02
3Q02
4Q02
1Q03
Q101
Q201
Q301
Q401
1Q02
2Q02
3Q02
4Q02
1Q03
Revenue & ARPU - Public Telephone
THB million
Baht
600
6,104
7,000
6,164
6,004
5,763
500
6,000
5,507
465
471
472
440
5,000
399
400
4,000
300
3,000
200
2,000
1Q02
2Q02
Revenue
3Q02
4Q02
ARPU
1Q03
8
PCT focused on 4-part plan to revitalize
What was executed in 1Q 03?
Marketing
 Rebuild market awareness
 Focus on customer retention
 Launched “PCT Next”
Network
 Continued network improvement
program to enhance PCT signal
and coverage
9
Data/Internet/Broadband businesses strengthening
Combined Revenue (1999 - 2002)
Revenue by Quarter
THB Million
THB Million
607
1,176
1999
1,318
2000
2,352
518
2002
1Q02
669
626
602
3Q02
4Q02
1,551
2001
2Q02
1Q03
Contribution to Consolidated Revenues
2001
1Q03
2002
VAS
VAS
VAS
13.3%
14.1%
B I TC O
PC T
14.9%
12.2%
V o ic e
PC T
64.3%
11.4%
53.1%
V o ic e
B I TC O
49.3%
19.3%
PC T
8.3%
7.5%
D a ta / I n te r n e t/ B B
13.3%
V o ic e
9.1%
9.8%
10
D a t a / I n t e rn e t / B B
D a ta / I n te r n e t/ B B
Data/Internet/Broadband businesses strengthening
(cont’d)
DDN Circuits
Internet Subscribers
Subscribers
Circuits
6,421
7,408
7,104
6,423
1,496
365,219
1,703
1,680
5,231
344,618
1,402
248,122
618
164,231
4,613
4,925
5,020
5,424
5,705
1Q02
2Q02
3Q02
4Q02
1Q03
Non-TAO
185,369
1Q02
2Q02
3Q02
4Q02
1Q03
TAO
Broadband Subscribers (ADSL + Cable Modem)
4,864
Subscribers
4,208
4,396
3,708
1,705
1,705
1,920
2,004
2,138
2,376
2,603
2,921
3360
3,620
4081
868
848
776
783
DEC-02
JAN-03
FEB-03
MAR-03
2,840
2,034
1,155
1,291
1,508
849
922
1,064
856
861
856
849
847
868
APR-02
MAY-02
JUN-02
JUL-02
AUG-02
SEP-02
TA Cable Modem
1,740
863
887
OCT-02 NOV-02
TA Express
11
Broadband to further expand
 To cover 95% of BMA
 100,000 DSL ports with maximum speed of 1.5 Mbps
 100 MetroNet buildings
 Penetrate into 450K Internet households
 Target existing top 30% heavy Internet users
 Approximately Baht 1.2 billion of investment over 2 years
Maintain No. 1 Market Position
12
ADSL - market prospect
TA’s ADSL Subscribers
Leap Frog Fashion of DSL
CHT's ADSL Subsribers
Thousand Sub
2000
4,081
1770
3,620
3,360
2,840
1500
857
1000
500
7.6
2,034
1,740
849
99
922 1,064
1,155 1,291
1,508
0
1999
2000
2001
2002
APR-02 MAY-02 JUN-02 JUL-02 AUG-02 SEP-02 OCT-02 NOV-02 DEC-02 JAN-03 FEB-03 MAR-03

Taiwan
CHT jumped to 1.8 mil in 4
years
Internet users of 4.5 mn in 2003 with
30% growth
 BMA share 60%
 Paying subscribers 50%
German
DT jumped to 2.2 mil in 3
years

The rapid growth rate in Internet
users to continue

Gartner forecasts CAGR (2002-2006)
of 61% for Thailand’s ADSL market
13
1Q 2003 financial summary
14
1Q03 Income statements (excluding TA Orange)
C o n s o lid a te d
T H B m illio n s
Revenues
R e v e n u e s h a rin g
O th e r o p e ra tin g e x p e n s e
E B IT D A
D e p re c ia tio n a n d a m o rtiz a tio n
O p e ra tin g p ro fit
In te re s t e x p e n s e û n e t
Tax
In c o m e fro m c o n tin u in g o p e ra tio n s
S h a re o f lo s s e s in a s s o c ia te s
N e t in c o m e fro m c o n tin u in g o p e ra tio n s
N o n re c u rrin g ite m s & o th e rs
N e t p ro fit (lo s s )
E B IT D A m a rg in
1Q 03
5 ,5 3 6
4Q 02
5 ,6 8 7
1Q 02
5 ,4 8 1
% QoQ
% YoY
-2 .7 %
1 .0 %
(8 7 1 )
(8 7 8 )
(8 5 0 )
-0 .8 %
2 .5 %
(1 ,7 3 1 )
(2 ,1 3 1 )
(1 ,6 4 3 )
-1 8 .8 %
5 .3 %
2 ,9 3 4
2 ,6 7 8
2 ,9 8 8
9 .6 %
-1 .8 %
(2 ,2 6 6 )
(2 ,2 1 0 )
(2 ,0 9 1 )
2 .6 %
8 .4 %
668
468
897
4 2 .7 %
-2 5 .5 %
(9 6 8 )
(9 8 8 )
(8 9 5 )
-2 .1 %
8 .1 %
(3 8 )
(2 7 )
(3 6 )
4 1 .5 %
6 .6 %
(3 3 7 )
(5 4 7 )
(3 4 )
3 8 .3 %
-9 0 2 .6 %
(9 0 )
(1 7 4 )
(1 0 7 )
4 8 .6 %
1 6 .0 %
(4 2 7 )
(7 2 1 )
(1 4 0 )
4 0 .8 %
-2 0 4 .2 %
100
2 ,5 7 7
(6 ,4 3 4 )
-9 6 .1 %
1 0 1 .6 %
(3 2 7 )
1 ,8 5 6
(6 ,5 7 5 )
-1 1 7 .6 %
9 5 .0 %
5 3 .0 %
4 7 .1 %
5 4 .5 % + 5 9 2 b p s -1 5 0 b p s
* Normalized figures
15
Revenue and EBITDA trend
Revenues
EBITDA
Excluding TA Orange
THB millions
THB millions
3,500
6,098
5,481
3,000
5,776
5,687
5,536
60%
54.5%
51.5%
53.0%
51.1%
2,500
47.1%
2,000
50%
3,138
2,988
45%
2,952
1,500
2,678
2,934
1,000
0
2Q02
3Q02
4Q02
1Q03
40%
35%
500
1Q02
55%
30%
1Q02
2Q02
3Q02
EBITDA
4Q02
1Q03
EBIDA Margin
Including TA Orange
THB millions
THB millions
7,050
6,627
6,510
3,500
6,794
3,000
60%
46.6%
2,500
50%
35.8%
5,592
36.7%
34.3%
40.2%
40%
2,000
30%
1,500
1,000
2,603
2,370
2,390
2,418
2,731
10%
500
0
1Q02
2Q02
3Q02
4Q02
1Q03
20%
0%
1Q02
2Q02
EBITDA
3Q02
4Q02
1Q03
EBITDA Margin
16
TA non-consolidated results on track to
a full year profit
Revenues
EBITDA & EBITDA Margin
THB millions
THB millions
5,244
4,914
5,135
5,022
4,000
4,915
3,000
49.0%
47.5%
47.5%
49.3%
43.8%
50.0%
40.0%
2,406
2,490
2,438
2,201
2,426
30.0%
2,000
20.0%
1,000
10.0%
0
0.0%
1Q02
1Q02
2Q02
3Q02
4Q02
1Q03
2Q02
EBITDA
3Q02
4Q02
1Q03
Margin
NIOGO (Stand-Alone Basis)
THB millions
1Q02
2Q02
3Q02
86
129
52
Excl. share of gain (loss)
in subsidiaries and affiliates
& non recurring items (on
stand-alone basis)
4Q02
1Q03
-148
-348
17
Transformed balance sheet and cash flows
(excluding TA Orange)
Net Debt/EBITDA
EBITDA/Interest Coverage
10.0x
3.2x
7.3x
6.5x
3.0x
2.2x
5.2x
5.1x
1.7x
1.3x
1999
2000
2001
2002
1Q03
1999
2000
Cash Flow from Operations
1Q03
THB millions
7,567
5,380
6,000
4,682
4,464
4,000
2002
Free Cash Flow
THB millions
6,000
2001
4,092
4,000
3,229
1,810
1,534
2,000
1,353
2,000
75
1,345
0
1,023
0
1999
2000
2001
2002
1Q03
1999
1Q03 represents
annualized figures
2000
2001
2002
1Q03
18
TA Orange contribution
Revenue
1,436
THB millions
475
767
1,301
154
575
303
132
109
1Q02
961
297
40
278
2Q02
Service
1,147
464
3Q02
4Q02
1Q03
Handset Sales
EBITDA
Net Profit *
THB millions
1Q02
THB millions
2Q02
3Q02
-375
4Q02
1Q03
-204
-173
1Q02
2Q02
3Q02
4Q02
1Q03
-388
-547
-657
-740
-728
-658
-877
* Before amortization of negative goodwill
19
TA Orange
20
Q1 highlights
 1.6 m subscribers end Q1, 2003
– 25% postpaid, 75% prepaid
 Progress on network coverage
– 100% network coverage BMA
– 80% population coverage
 New postpaid price plans on 15th March
 Launch of SPV phones on 31th March
21
TA Orange’s active subscriber base continues to grow
Subscriber development
 TA Orange’s cumulative market
Thousands
Prepaid
share 9% in Q1, 2003
Postpaid
1,602
1,336
 20% growth Y2002 to Q1, 2003
25%
34%
874
52%
500
80%
128
100%
Q1-02
Q2-02
Q3-02
Q4-02
Q1-03
22
Blended ARPU’s - maintaining value share in Q1, 2003
Monthly ARPU
THB
800
700
600
500
400
300
200
Q1-02
Q2-02
Q3-02
Orange
AIS
Q4-02
Q1-03
DTAC
Orange Blended ARPU net of bad debt
23
Activation growth now coming from upcountry
%
Activations by region
BMA
1
100
UPC
23
53
56

UPC activation growing

14 major clusters

6,200 outlets

Orange Shops, Dealers, Kiosks
99
77
Q1-02
Q2-02
Q3-02
47
44
Q4-02
Q1-03
24
Focus on retention

Move to Prepaid
Retained on Postpaid
Over 50% of cancellation requests
retained as customers on either post
or prepaid
20%
26%
38%
29%
18%
Jan
Feb
Mar
25
The competitive dynamics are changing
 SIMs and handsets increasingly bought separately
– (more than 80% of sales are SIM only)
 Prepaid will continue to dominate
 Price increases from all operators in Q1
26
Corporate Strategy 2003
 Best network for BMA customers & best where we are
 Focus on high value customers & “prepaid segment”
 Innovative products/services
 #1 for customer service
 Exploit CP/TA/Orange synergies
 EBITDA monthly break even Q3 2003
27
“the futures bright, the future’s Orange”
28
Focus Going Forward
29
Focus going forward
Fixed line telephone
– Reduce cost
– Rapidly grow high-margin services to generate new
revenue streams
– Customer retention and churn management
Wireless
– Focus on high-value customer and prepaid
– Best network
– Improve ARPU with value-added services
– Execute PCT revitalization plan
Data/Broadband/Internet
– Build on No. 1 broadband position
– Expand ADSL market
– Increase revenue contribution
New opportunities through group synergies
30
Q&A
31
Appendix
1. Consolidated income statements (including TA Orange)
2. Non-consolidated income statements
3. Balance sheets
4. Cash flow statements
5. Consolidated revenue profile by segment
32
Appendix 1: Consolidated income statements
(including TA Orange)
Normalized Income Statements
C o n s o lid a te d
T H B m illio n s
1Q 03
4Q 02
1Q 02
Revenues
6 ,7 9 4
7 ,0 5 0
5 ,5 9 2
R e v e n u e s h a rin g
(1 ,3 2 7 )
(1 ,2 3 1 )
O th e r o p e ra tin g e x p e n s e
(2 ,7 3 5 )
E B IT D A
D e p re c ia tio n a n d a m o rtiz a tio n
O p e ra tin g p ro fit
In te re s t e x p e n s e û n e t
Tax
In c o m e fro m c o n tin u in g o p e ra tio n s
S h a re o f lo s s e s in a s s o c ia te s
N e t in c o m e fro m c o n tin u in g o p e ra tio n s
N o n re c u rrin g ite m s & o th e rs
% QoQ
% YoY
-3 .6 %
2 1 .5 %
(8 8 1 )
7 .8 %
-5 0 .7 %
(3 ,4 0 1 )
(2 ,1 0 8 )
-1 9 .6 %
-2 9 .8 %
2 ,7 3 1
2 ,4 1 8
2 ,6 0 3
1 3 .0 %
4 .9 %
(2 ,6 5 0 )
(2 ,5 6 9 )
(2 ,1 1 6 )
3 .1 %
-2 5 .2 %
1 5 4 .1 %
-8 3 .2 %
82
(1 5 1 )
487
(1 ,0 7 1 )
(1 ,1 4 0 )
(8 9 1 )
-6 .1 %
-2 0 .2 %
(3 8 )
(2 7 )
(3 6 )
4 1 .5 %
-6 .6 %
(1 ,0 2 7 )
(1 ,3 1 8 )
(4 3 9 )
2 2 .1 %
-1 3 3 .8 %
(1 0 4 )
(5 )
613
-1 8 7 9 .7 %
-1 1 6 .9 %
(1 ,1 3 1 )
(1 ,3 2 4 )
173
1 4 .6 %
-7 5 2 .8 %
103
2 ,5 5 2
(6 ,4 2 7 )
-9 6 .0 %
1 0 1 .6 %
(6 ,2 5 3 )
-1 8 3 .7 %
8 3 .6 %
N e t p ro fit (lo s s )
(1 ,0 2 8 )
1 ,2 2 8
E B IT D A m a rg in
4 0 .2 %
3 4 .3 %
4 6 .6 % + 5 9 1 b p s -6 3 5 b p s
* Normalized figures
33
Appendix 2 : Non-consolidated income statements
Normalized Income Statements
N o n -C o n s o lid a te d
T H B m illio n s
1Q 03
Revenues
4 ,9 1 5
5 ,0 2 2
4 ,9 1 4
-2 .1 %
0 .0 %
R e v e n u e s h a rin g
(1 ,1 8 4 )
(1 ,2 4 1 )
(1 ,2 8 7 )
-4 .6 %
-8 .0 %
O th e r o p e ra tin g e x p e n s e
(1 ,3 0 6 )
(1 ,5 8 0 )
(1 ,2 2 1 )
-1 7 .4 %
7 .0 %
2 ,4 2 6
2 ,2 0 1
2 ,4 0 6
1 0 .2 %
0 .8 %
(1 ,7 8 8 )
(1 ,7 4 9 )
(1 ,6 4 1 )
2 .2 %
8 .9 %
E B IT D A
D e p re c ia tio n a n d a m o rtiz a tio n
O p e ra tin g p ro fit
In te re s t e x p e n s e û n e t
Tax
4Q 02
1Q 02
% QoQ
% YoY
638
452
765
4 1 .3 %
-1 6 .6 %
(7 8 6 )
(8 0 0 )
(6 7 9 )
-1 .8 %
1 5 .7 %
NM
NM
-
-
-
In c o m e fro m c o n tin u in g o p e ra tio n s
(1 4 8 )
(3 4 8 )
86
5 7 .6 % -2 7 1 .1 %
S h a re o f lo s s e s in a s s o c ia te s
(9 2 7 )
(1 ,1 0 1 )
305
1 5 .8 % -4 0 3 .7 %
(1 ,0 7 5 )
(1 ,4 5 0 )
392
2 5 .8 % -3 7 4 .5 %
N e t in c o m e fro m c o n tin u in g o p e ra tio n s
N o n re c u rrin g ite m s & o th e rs
47
2 ,6 7 8
(6 ,6 4 5 )
-9 8 .2 %
1 0 0 .7 %
(6 ,2 5 3 )
-1 8 3 .7 %
8 3 .6 %
N e t p ro fit (lo s s )
(1 ,0 2 8 )
1 ,2 2 8
E B IT D A m a rg in
4 9 .3 %
4 3 .8 %
4 9 .0 % + 5 5 3 b p s + 3 9 b p s
34
Appendix 3 : Balance sheets
C o n s o lid a te d
T H B m illio n s
3 1 -M a r-0 3 3 1 -D e c -0 2
N o n -C o n s o lid a te d
% chg.
3 1 -M a r-0 3 3 1 -D e c -0 2
% chg.
ASSETS
C u rre n t a s s e ts
C a s h a n d re s tric te d c a s h
6 ,7 7 5
7 ,6 1 8
-1 1 .1 %
4 ,2 0 6
3 ,9 9 9
5 .2 %
1 1 ,2 6 0
1 1 ,2 8 1
-0 .2 %
8 ,2 9 3
8 ,3 5 8
-0 .8 %
4 ,0 4 9
4 ,1 3 9
-2 .2 %
9 ,7 7 8
1 0 ,6 6 1
-8 .3 %
6 6 ,6 1 9
6 6 ,8 7 1
-0 .4 %
3 9 ,6 3 7
4 0 ,8 7 3
-3 .0 %
3 ,2 5 2
3 ,3 3 9
-2 .6 %
2 ,1 1 4
2 ,1 4 0
-1 .2 %
9 1 ,9 5 4
9 3 ,2 4 7
-1 .4 %
6 4 ,0 2 8
6 6 ,0 3 1
-3 .0 %
8 5 ,7 9 9
8 6 ,0 4 9
-0 .3 %
5 8 ,3 1 1
5 9 ,2 8 6
-1 .6 %
C u rre n t lia b ilitie s
2 3 ,1 5 8
1 4 ,3 9 6
6 0 .9 %
8 ,5 3 8
8 ,4 7 0
0 .8 %
N o n -c u rre n t lia b ilitie s
6 2 ,6 4 1
7 1 ,6 5 3
-1 2 .6 %
4 9 ,7 7 3
5 0 ,8 1 6
-2 .1 %
6 ,1 5 5
7 ,1 9 8
-1 4 .5 %
5 ,7 1 7
6 ,7 4 5
-1 5 .2 %
9 1 ,9 5 4
9 3 ,2 4 7
-1 .4 %
6 4 ,0 2 8
6 6 ,0 3 1
-3 .0 %
O th e r c u rre n t a s s e ts
N o n c u rre n t a s s e ts
In v e s tm e n ts
P ro p e rty , p la n t & e q u ip m e n t
O th e r a s s e ts
TOTAL ASSETS
L IA B IL IT IE S & E Q U IT Y
L IA B IL IT IE S
E Q U IT Y
T O T A L L IA B IL IT IE S & E Q U IT Y
35
Appendix 4 : Cash flows
T H B m illio n s
C a s h flo w fro m o p e ra tio n
C o n s o lid a te d
1Q 03
1Q 02
% chg.
772
204
2 7 7 .6 %
N o n -C o n s o lid a te d
1Q 03
1Q 02
% chg.
1 ,2 0 4
1 ,7 4 8
-3 1 .2 %
Less : C apex
(1 ,9 0 8 )
(1 ,7 0 0 )
1 2 .3 %
(2 7 0 )
(7 7 5 )
F re e c a s h flo w
(1 ,1 3 6 )
(1 ,4 9 5 )
2 4 .0 %
933
973
-4 .1 %
(2 2 4 )
(1 7 0 )
3 1 .7 %
(3 6 8 )
(1 9 3 )
9 1 .1 %
In v e s tm e n ts
-6 5 .1 %
N e t fin a n c in g
P ro c e e d s fro m b o rro w in g s
R e p a y m e n t o n L T tra d e A /P
R e p a y m e n t o f b o rro w in g s
N e t c a s h fro m fin a n c in g a c tiv itie s
4 ,9 9 5
2 ,9 2 4
7 0 .8 %
3 ,2 9 2
-
NM
-
-
NM
(4 8 )
(4 6 )
5 .0 %
(4 ,6 7 0 )
(9 0 1 )
4 1 8 .1 %
(3 ,9 7 6 )
(7 3 7 )
4 3 9 .8 %
1 ,9 7 7
-8 6 .0 %
(6 8 4 )
(7 3 7 )
7 .2 %
312
-4 4 7 .3 %
(1 1 9 )
277
C h a n g e in c a s h
(1 ,0 8 3 )
C a s h b e g in n in g
3 ,1 3 6
2 ,6 8 4
1 6 .8 %
C a s h e n d in g
2 ,0 5 3
2 ,9 9 6
-3 1 .5 %
44
-3 6 9 .4 %
373
253
4 7 .1 %
254
298
-1 4 .6 %
36
Appendix 5: Consolidated revenue profile by segment
R e v e n u e P ro file
1Q 03
4Q 02
1Q 02
QoQ
Chg.
W ire lin e
YoY
%
Chg.
%
3 ,9 9 9
4 ,0 5 9
3 ,9 0 3
(6 0 )
-1 .5 %
96
2 .5 %
3 ,3 4 9
3 ,4 2 4
3 ,3 4 4
(7 5 )
-2 .2 %
4
0 .1 %
650
635
558
15
2 .4 %
92
1 6 .4 %
- P u b lic p h o n e
472
470
399
1
0 .2 %
72
1 8 .1 %
- F a u lt re p o rtin g a n d d w
110
115
100
(5 )
-4 .5 %
10
1 0 .3 %
68
49
59
19
3 8 .8 %
9
1 5 .3 %
332
301
241
32
1 0 .6 %
91
3 7 .9 %
W ire le ss
1 ,8 7 4
2 ,1 2 9
911
(2 5 5 )
-1 2 .0 %
963
1 0 5 .7 %
- PCT
564
658
762
(9 4 )
-1 4 .3 %
(1 9 8 )
-2 6 .0 %
21
42
5
(2 1 )
-5 1 .1 %
16
3 1 4 .9 %
- S e rvice
542
623
757
(8 0 )
-1 2 .9 %
(2 1 4 )
-2 8 .3 %
- T A O ra n g e
1 ,3 1 0
1 ,4 7 1
149
(1 6 1 )
-1 1 .0 %
1 ,1 6 1
7 8 0 .8 %
163
510
109
(3 4 8 )
-6 8 .1 %
53
4 8 .9 %
1 ,1 4 7
961
40
186
1 9 .4 %
1 ,1 0 7
2 7 9 9 .9 %
265
282
226
(1 7 )
-5 .9 %
39
1 7 .2 %
71
37
50
34
9 1 .2 %
21
4 1 .6 %
254
242
261
11
4 .6 %
(8 )
-3 .0 %
6 ,7 9 4
7 ,0 5 0
5 ,5 9 2
(2 5 6 )
-3 .6 %
- B a sic W ire lin e
- VAS
- O th e rs
DDN
- P ro d u ct sa le s
- P ro d u ct sa le s
- S e rvice
M u ltim e d ia
In te rn e t
O th e rs
C o n s o lid a te d re v e n u e s
1 ,2 0 2
2 1 .5 %
37
“Safe Harbor” Statement
This presentation contains statement about expected future events and financial
results that are
forward-looking and subject to risks and uncertainties. For those
statements, we claim the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995 Discussion of factors
that may affect future results is contained in our recent filings with the Securities and
E
x
c
h
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g
e
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38
1Q2003 Analysts Conference
May 20, 2003