MOU for the first quarter of based on the former charging units was The decrease in revenues resulted mainly from a Furthermore, the increase in landline services revenues during the quarter also contributed to the higher service revenues. This decline primarily follows the lower handset costs resulting from the decline in number of handsets sold during the first quarter of , in addition to lower depreciation expenses. These decreases were partially offset by an increase in cost of content and value-added services due to increased usage. Gross profit for the first quarter of incresed 5.
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In these first two years of and , we set about building a new distinct company revamping the organisation and the operating business model, making either basic or major fundamental changes to our governance, management, people, structure and processes, in order to transform the group into a world-class multinational company MNC.
Together with the OpCos top management, we either refined or revisited many of their respective strategies. Our spectacular first full year financial performance for the year ended 31 December , is testament that we are executing well on our strategies and initiatives.
Almost every aspect of the Groups and OpCos strategies were meticulously executed as planned, which saw positive quarterly trends continuing across OpCos and the Group ending the year on a position of strength. Group Revenue grew ROE showed 6.
The Groups balance sheet has been significantly strengthened through a series of corporate finance activities. We deleveraged our balance sheet through the rights issue of RM5. In another effort to strengthen and streamline the Groups debt structure, Axiata converted RM2. XL also embarked on a rights issue, allowing it to reduce its debt and improve its capital structure.
In another significant corporate development, Axiata recently completed the sale of 1. At the end of , the Groups total subscriber base expanded to Indonesia, Bangladesh and India especially have shown resilience against the global economic slowdown.
Furthermore, inflationary led pressures eased in Sri Lanka and other markets, relatively lower to the highs of We are particularly pleased with the excellent results of Celcom, XL and Robi. All three OpCos have increased market share and profitability, with Celcom and XL performing the best in the industry.
We also saw encouraging trends in Sri Lanka with Dialog4, which reflects the success of Dialogs concerted focus on targeted revenue growth and cost management as well as its ability to accelerate performance in an increasingly competitive operating landscape.
However, in Cambodia, Hello5 continues to face challenges in a highly competitive market with nine operators. We are also happy to see our Indian and Singaporean affiliates, Idea6 and M1 7 , producing solid results.
We started the year cautiously, given the uncertain economic environment. Accelerated Performance at Celcom and XL Malaysia Excellent execution of segmented marketing, as well as continued focus on mobile broadband, saw Celcom recording the highest revenue growth, up PAT grew significantly by Mobile broadband saw particular traction, surpassing , customers.
With an overall growth of Focus on network cost and efficiency resulted in savings as evidenced in the decline in network costs from Celcom closed the year with Diligent focus on cost management, which included direct expenses as well as sales and marketing, saw impressive margin improvement to XL has outperformed many of its rivals during the year, and subscribers grew from Furthermore, XL also strengthened its Balance Sheet in XL has used both the proceeds of the IDR2.
Non-voice revenue saw strong growth with a Revenue from data services increased Alongside the emphasis on yield, moving forward XL will be focusing on this new growth segment. Turnaround Plan Gains Traction Bangladesh was a turnaround year for Robi, with double digit growth of This was from a successful focus on distribution channels via a brand focus and regional push strategy. Robi has now recorded five consecutive quarters of growth, with the last quarter of , the highest to date.
Indonesia Maximisation of yield and strict cost management, saw strong performance in all financial metrics at XL. The focus on quality subscribers, which began in early , delivered a All three companies have increased market share and profitability, with Celcom and XL performing the best in the industry.
This was a result of high revenue growth and continuous cost management efforts such as lower network and direct costs. YoY subscribers showed strong growth of Dialog recorded a loss of SLR Dialog has also seen continued mobile subscriber growth amidst a competitive environment, recording an impressive Despite the challenging environment in Q2 and Q3, Q4 saw strong recovery.
Idea saw revenue up an impressive PAT grew 9. Idea contributed RM Cambodia Hello is in an extremely over-crowded market which affected its financial performance overall, yet saw a The year focused on a strategy review around distribution channel restructuring and per second billing initiatives with Group support.
Sri Lanka Dialog is still facing some external challenges with revenue marginally down by 1. Axiata Group Berhad Ideas healthy balance sheet, as well as its improving operational efficiencies, provides a solid base to support the group during the current market of hyper competition.
As of 17 March , the Idea-Spice merger was completed. Singapore M1 saw evidence of improving economic conditions with an increase in its subscriber base of 7. The last quarter in particularly, showed encouraging signs across its financial scorecard. We have a new name and brand identity, with initial surveys showing regional awareness within a short period of time. Across the Group, our OpCos have refreshed their logos and changed their names to reflect the uniting Axiata identity.
We further strengthened our management teams with strong diversity across most OpCos and we improved our operating model further, especially in the areas of performance management, human resource management, financial discipline and governance. Our cost reduction programme, a recurring theme in all the OpCos, are on track and we continue to explore further ways to reduce cost. In our cost management programme CMP , showed tangible results especi a l l y i n p r o c u r e m e n t a n d technology, with over RM million in savings.
We put special emphasis on Human Capital and Talent Development, with a clear philosophy and processes instituted.
We implemented many key initiatives especially talent management and leadership development. We also saw through nine governance related projects including revision of group policy covering Code of Conduct and Limits of Authority, and initiated standard Group framework agreements in Procurement. Despite our achievements, we believe that we still have a long way to go to be a Regional Champion.
That is what the next phase from to is essentially about building a game-changing company. We will complete our organisational changes, perfect our OpCo engagement model, realise group synergies and develop new strategic business models, whilst further refining all our OpCo strategies and drive new strategic initiatives.
Our cost structure will be benchmarked regularly, as being lean and competitive remains our top focus. Overall the Asia Pacific mobile revenue growth will moderate in the medium term; with slowing revenue growth driven by increasing penetration and lower ARPUs.
However in the medium term, similar to global trends, our markets will continue to show voice revenues dominating with broadband and mobile data as the engine of growth in high penetration markets. In low penetration markets, subscriber growth would still drive revenue growth.
Adjacent opportunities exist in M-Commerce and mobile advertising. Given this, our medium term objectives will be balanced between maximising returns and maintaining growth. Axiata aims to assert its leadership in mobile broadband and mobile data services, whilst we consolidate and significantly strengthen our overall portfolio.
This may include divestment of our non-core or sub-scale businesses in other countries. We will also increase our focus on segmented marketing and CLM and on touch points. Moving forward we will be maintaining our tight focus on capital discipline, in order to sustain s strong performances. Celcom is committed to its transformation plan, emphasising on customer touch points and human capital. This will be done concurrently with continued emphasis on quality revenue generating subscribers and improving network utilisation as well as efficient capex management.
XL will continue to focus on yield management with cost management, further monetising of volumes and on data services as a new revenue growth driver. There will be stronger emphasis and focus on mobile data and broadband services.
Dialog meanwhile will concentrate its efforts in driving revenue growth and market share, whilst rescaling its operational structure, modernising infrastructure and repositioning its balance sheet. Robi aims to capture and monetise growth opportunities going forward, through further improvement in sales and distribution, network coverage as well as brand positioning. Hello aims to significantly improve its sales and distribution channels. In summary, Axiata demonstrated its capability to deliver in in terms of financial and non-financial performance and in driving its transformation.
We will continue to piece together affordable connectivity, innovative technology and world class talent, towards our greater purpose that of Advancing Asia. With a solid foundation, we are excited about the next phase of our journey.
We are in the right industry and the right markets with the right talent for growth. I would like to thank our Board for their continued guidance, our employees for their commitment and hard work, the governments and regulators for their co-operation and facilitation, and our stakeholders the shareholders, partners, collaborators and media for their steadfast support.
With everyone behind us, I am positive we will succeed.
Axiata Bhd 2009 Annual Report
In these first two years of and , we set about building a new distinct company revamping the organisation and the operating business model, making either basic or major fundamental changes to our governance, management, people, structure and processes, in order to transform the group into a world-class multinational company MNC. Together with the OpCos top management, we either refined or revisited many of their respective strategies. Our spectacular first full year financial performance for the year ended 31 December , is testament that we are executing well on our strategies and initiatives. Almost every aspect of the Groups and OpCos strategies were meticulously executed as planned, which saw positive quarterly trends continuing across OpCos and the Group ending the year on a position of strength.
2009 Annual Report En
Group Chief Executives Review of Operations Strengthening profitability trends featuring revenue growth and re-scaling of cost structures were supported by diligent working capital management to yield Group operating cash flows of Rs. Company cash flows grew by a similar dimension, with operating cash flows for recorded at Rs. Country Rebound and Future Potential Robust and consistent performance enhancement over successive quarter of signal that rescaling initiatives during have yielded, albeit during challenging economic times, a platform for aggressive market capture going forward. The ingredient of well founded optimism we would add to the sustainability of our growth aspirations is derived from the certain rebound in the countrys economy.
MAXIS Annual Report 2010 (2.8MB)