3 rd Quarter FY20 Results 4 December 2019
Disclaimer This document contains certain forward-looking statements with respect to Astro Malaysia Holdings Berhad’s (“Astro”) financial condition, results of operations and business, and management’s strategy, plans and objectives for Astro. These statements include, without limitation, those that express forecasts, expectations and projections such as forecasts, expectations and projections in relation to new products and services, revenue, profit, cash flow, operational metrics etc. These statements (and all other forward-looking statements contained in this document) are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Astro’s control, are difficult to predict and could cause actual results to differ materially from those expressed or implied or forecast in the forward-looking statements. These factors include, but are not limited to, the fact that Astro operates in a competitive environment that is subject to rapid change, the effects of laws and government regulation upon Astro’s activities, its reliance on technology which is subject to risk of failure, change and development, the fact that Astro is reliant on encryption and other technologies to restrict unauthorised access to its services, failure of key suppliers, risks inherent in the implementation of large-scale capital expenditure projects, and the fact that Astro relies on intellectual property and proprietary rights which may not be adequately protected under current laws or which may be subject to unauthorised use. All forward-looking statements in this presentation are based on information known to Astro on the date hereof. Astro undertakes no obligation publicly to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation has been prepared by Astro. The information in this presentation, including forward-looking statements, has not been independently verified. Without limiting any of the foregoing in this disclaimer, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of such information. Astro and its subsidiaries, affiliates, representatives and advisers shall have no liability whatsoever (whether in negligence or otherwise) for any loss, damage, costs or expenses howsoever arising out of or in connection with this presentation. 1 | 3QFY20 results
3Q FY20 key performance highlights Year-on-year financial highlights 3Q FY19 3Q FY20 Revenue EBITDA RM473mn → RM458mn RM1.38bn → RM1.22bn Healthy EBITDA margin of 38% Adex Normalised PATAMI (1) RM179mn → RM167mn RM177mn → RM178mn Capturing market share across TV and radio Normalised PATAMI margin of 15% FCF of RM234mn Commerce 137% of PATAMI, RM98mn → RM93mn 2.0 sen dividend declared Growing customer numbers amid soft market NB: (1) Normalised PATAMI excludes post-tax impact unrealised forex gain/(loss) 3Q FY20: (RM 7mn), 3Q FY19: (RM 24mn) due to mark-to- 2 | 3QFY20 results market revaluation of transponder-related finance lease liabilities
YTD FY20 overview Scaling reach… NB YTD FY19 YTD FY20 Growth (1) TV household data sourced from the Department of Total TV households in Malaysia (000s) (1) Statistics Malaysia and Media Partners Asia 7,405 7,529 2% (2) Household penetration comprises residential Pay-TV TV household penetration (2) 76% 76% - customers and NJOI customers TV customer base (000s) 5,662 5,690 1% (3) Viewership share is based on DTAM deployed by Kantar Media DTAM Pay TV ARPU (RM) 99.9 99.9 - (4) Audience measurement is based on GfK Astro TV viewership share (3) 75% 75% - (5) Digital monthly unique visitors (“MUV”) to Astro’s digital assets, averaged over the last 12 months as sourced from Radio listenership (mn) (4) 16.2 16.9 4% comScore Digital MUV (mn) (5) 7.3 11.1 52% (6) Connected set-top boxes (STBs) are internet-ready with Connected STBs (000s) (6) 963 1,011 5% recording functionality and have access to Astro’s On Demand library of content (7) Normalised PATAMI excludes post-tax impact of unrealised …enabling resilient results forex gain/(loss) YTD FY20: (RM 13mn),YTD FY19: (RM 59mn) due to mark-to-market revaluation of transponder- YTD FY19 YTD FY20 Growth related finance lease liabilities (8) Numbers may not add up due to rounding differences Revenue (RM mn) 4,111 3,686 -10% Adex (RM mn) 491 469 -4% EBITDA (RM mn) 1,223 1,338 9% EBITDA margin 30% 36% 6 p.p. Normalised PATAMI (RM mn) (7) 404 529 31% FCF (RM mn) 1,113 831 -25% EPS (RM sen) 6.6 9.9 50% 3 | 3QFY20 results
Leading content & consumer company TV CONTENT COMMERCE RADIO DIGITAL Digital Brands Radio Brands • 11 radio brands • #1 premium content • Largest Pay-TV • 11.1mn digital MUV • 24/7 multilanguage creator & aggregator operator in SEA across over • #1 in every language- shopping experience • Investing in content • Serving 5.7mn 25 digital brands English, Malay, • Multiplatform: TV & verticals with households • Gempak is the No. 1 Chinese, Tamil ECMC regional reach • 76% household digital • 2.1mn registered • 16.9mn weekly • Produced 13k hours penetration entertainment customers listeners & 4mn of content in FY19 • 44% TV adex share portal in Malaysia monthly unique • 1mn connected STBs • 4% digital adex share streaming users • 80% radex share NB: 4 | 3QFY20 results Connected set-top boxes (STBs) are internet- ready with recording functionality and have access to Astro’s On Demand library of c ontent
Gateway to homes and individuals Strategy Assets Products Key Focus Areas Protect Premium Pay Pay TV • Reinvigorate customer experience • Refresh content • Reset customer service PREMIUM • Reward customers • 76% household penetration Win market with NJOI NJOI • 5.7mn households • Ease prepaid path to purchase Deepen • Increase content choices FREEMIUM • 1mn connected STBs HOME • 13k hours of content engagement Diversify through adjacencies produced in FY19 Broadband Drive broadband penetration • 51mn VOD downloads • Expand individuals’ experience OTT Astro GO enhancement • • Standalone OTT offerings • 2.4mn Astro GO registred users • Growing digital brands • 11.1mn digital MUV Broaden reach Reinvent Radio Radio Leveraging on record listenership • to • 16.9mn radio listenership • Digitalising terrestrial radio INDIVIDUALS • 4mn avg monthly radio streamers • 2.1mn registered Go Shop Redefine Commerce customers Commerce • Content differentiation • Leverage on talent and production 5 | 3QFY20 results capabilities • Diversify and deepen product portfolio
YTD FY20 Progress report Pay TV NJOI Broadband OTT Radio Commerce • Reinvigorate ✓ Simplification of ✓ Higher speeds of up ✓ New Astro ✓ SME partnerships ✓ Expanded celebrity- Customer path to purchase for to 100 mbps experience launched and nationwide anchored Experience NJOI customers introduced across on Astro GO roadshows programmes, both DTH and IPTV differentiating Go ✓ Launched new platform Shop from other Astro 4K UHD box ✓ Over 30 prepaid ✓ Launched HBO Go ✓ Launched Syok, a commerce platforms channels offered free for all Astro multilingual ✓ Content-broadband Movies pack entertainment and • Refresh Content bundle with Maxis customers lifestyle app ✓ Extended service to ✓ Unveiled world’s ✓ Introducing prepaid FTA, reaching all first iQIYI linear top-up via e-wallet Malaysians channel ✓ Launched HBO Go ✓ Recorded highest pack for non Movies ever listenership of pack customers 16.9mn in Q3 ✓ New IPs: Sweet Dreams, Muzikal Lawak Superstar & ✓ Launched iQIYI Big Stage global app exclusively to all Malaysians ✓ Movies: BoBoiBoy 2, Sangkar, Pusaka, Wira • Reset Customer Service ✓ Improving customer service Reward • Customers ✓ Ongoing privileges for customers 6 Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: #15 to #18 #19 #20 #18 #21 #22
Customers watch over 4 hours of Astro daily Avg. Daily Viewers (mn) Avg. Time Spent/Day (hrs) TV Viewership Share (1) 4.6% Astro FTA 0.8% 3.9% TV 25% 6.9% 3:26 3:36 75% 12.8 12.3 2:06 2:05 7.1 6.6 YTD FY19 YTD FY20 YTD FY19 YTD FY20 Total Connected STBs (2)(3) Avg. Weekly Viewing (mins) Total Video Downloads (mn) (000s) 10% 34% 5% On Demand 51 963 457 503 1,011 38 3Q FY19 3Q FY20 3Q FY19 3Q FY20 3Q FY19 3Q FY20 Registered Users ( 2) (mn) Avg. Weekly Viewing (mins) Avg. Monthly Active Users ( 4) (’000) 66% 18% 14% OTT 264 933 159 2.4 2.1 790 3Q FY19 3Q FY20 3Q FY19 3Q FY20 3Q FY19 3Q FY19 NB: (1) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro Pay-TV viewers 7 | 3QFY20 results (2) Cumulative count since inception (3) Connected set-top boxes (STBs) are internet- ready with recording functionality and have access to Astro’s On Demand library of c ontent (4) Source: App Annie as at 31 October
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