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Telio – Q2 – 05 presentation
“They [Telio] have no baggage – it’s just pure VoIP built by sharp people who really understand the technology.
Jon Arnold, industry analyst
“We believe the Norwegian market to be the home of the most advanced and successful of the access-independent VoIP operators we have encountered in Europe - Telio”
James Enck, telecom analyst
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
Telio highlights
Norways first, largest and fastest growing ITSP (Internet Telephony Service Provider)
Offices in Norway, Sweden, Denmark, Holland and Switzerland Telio technical management and advisory board include many of the worlds pre-
eminent SIP and VoIP experts New top management in place from mid-August 60 employees and more than 65 000 subscribers (Norway + Denmark) Over the summer approx 8.000 customers added Q2 revenues of 42,7 MNOKs and H1 revenues of 77,7 MNOKs Q2-05 pre tax profit of 5,7 MNOK and H1 pre tax profit of 11,9 MNOKs Offering technology platform on OEM basis to ISPs/carriers
Enables rapid, low risk, low cost entry into VoIP for anyone with an installed customer base.
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
New Managment
New CEO – Arild Nilsen Prev. Experience:
1992-1995 McKinsey – Senior Consultant 1995-2000 NetCom - Operations and Technical Director, Business Market Director and Product Market
Director 2001-2005 Glastad Invest - CEO
New CFO - Kyrre Grinde-Andersen Prev experience
1987-1989 Deloitte management consultants 1989-1995 Schlumberger Ltd. 1995-2001 Kodak Norge as 2001-2005 Sense Communiactions Int. AS
The founders recognize the need to include execution resources as the company grows.
Founders will still play a significant role in the development of the company
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
Sales/quarter
0
5
10
15
20
25
30
35
40
45
Q1-04 Q2-04 Q3-04 Q4-04 Q1-05 Q2-05
Financials – Group- Profit & Loss Statement
Group
2005 unaudited Q2 2005 Ytd Q2 2005 FY 2004
Sales revenue 42 650 77 726 42 096Other operating revenues 0 0 705Total operating revenues 42 650 77 726 42 801
Cost of goods sold 11 477 23 451 15 443Personnel costs 4 079 8 797 6 313Depreciations 1 964 3 589 2 375Other operating expenses 19 446 30 000 15 844Total operating expenses 36 966 65 837 39 974
Operating profit 5 684 11 889 2 826
Financial income 248 258 125Financial expenses 220 272 515
Profit before taxes 5 712 11 874 2 436
Financials – Group- Balance sheet - Assets
2005 unaudited Jun 30, 2005 Mar 31, 2005 Dec 31, 2004Assets
Fixed AssetsIntangible assetsIT platform and other intangible rights 8 748 7 317 6 775Total intangible assets 8 748 7 317 6 775
Tangible fixed assetsPlant, machinery, operating equipment, fixtures etc 20 544 18 888 16 397Total tangible fixed assets 20 544 18 888 16 397
Fixed assets investmentsInvestments in subsidiary 0 0 0Total fixed assets investments 0 0 0
Total non-current assets 29 292 26 206 23 172
Currents assetsDebtorsAccounts receivables 28 707 20 486 9 729Other receivables 1 523 3 525 5 358Total debtors 30 230 24 010 15 087
Cash and bank deposits 24 995 7 138 5 987
Total current assets 55 225 31 148 21 074
TOTAL ASSETS 84 517 57 354 44 247
Financials – Group- Balance sheet – Equity & Liabilities
2005 unaudited Jun 30, 2005 Mar 31, 2005 Dec 31, 2004
EQUITY AND LIABILITIES
EQUITY
Called-up and fully paid share capital
Share capital 179 171 171
Share premium reserve 43 695 28 468 28 368
Total capital and reserve 43 874 28 639 28 539
Retained earnings
Other equity 12 076 7 035 1 928
Total retained earnings 12 076 7 035 1 928
Total equity 55 950 35 674 30 467
LIABILITIES
Provisions for liabilities and charges
Deferred tax liabilities 412 294 262
Total provisions for liabilities 412 294 262
Other long-term liabilities
Financial lease liability 5 798 3 399 3 548
Total other long-term liabilities 5 798 3 399 3 548
Current liabilities
Accounts payable 16 496 8 168 6 377
Current tax 2 183 1 190 313
Unpaid government charges and special taxes 56 1 708 1 204
Other current liabilities 3 622 6 922 2 076
Total current liabilities 22 357 17 988 9 970
Total liabilities 28 567 21 681 13 780
TOTAL EQUITY AND LIABILITIES 84 517 57 354 44 247
Financials contd
Q2 2005 22 % revenue growth quarter on quarter (42% growth on a comparable
basis as Q1 included one-of revenue) Nearly 1000 % revenue growth year on year Sales&marketing costs reflect high activity in the distribution channels
and somewhat higher customer acquisition costs. Equity Management Associates (EMA) og Kinderhook Partners
acquired 1.340.000 shares out of which 670.000 were through a direct placement. This represents approx. 7,5% of the company.
UNAUDITED
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
Telio structure – final result of work in progress
Svenska Telio AB
Telio BvNetherlands
TelioTelecom AS
Telio Aps(Denmark)
Telio SA
TelioHolding AS
- Hub for tech devt and network operations (ca 60 empl)
- Commercial team for OEM business- Key developers
-Hub for consumer IP-comm. offering-Offering IP-comms in Norway
- OEM contract with InterNL.net.- Offered to consumers as Obtibel (www.optibel.nl)
- Musimi offering to danish consumers - Preparing Telio brand offering
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
Telio is undisputably No.1 VoIP player in Norway
More than 65,000 total customers (Norway + Denmark) 8,000 new customers over the summer Telio maintains its momentum and leading position in Norway
Many small players will not survive much longer due to capital contrains
Compared to next largest competitor (Nextgentel), Telio’s growth during summer is larger than Nextgentel’s total VoDSL customer base
2004 results MNOK
Telio IP24 Tele VoIP
Briiz One Call AS Phonect AS
Omsetning 42,1 2,4 1,2 1,4 0,1 0,1
Res. f.skatt 2,4 -3,6 -0,27 -2,9 -0,9 -0,7
EK 30,5 -1 -,016 -2,1 -0,03 -1
Telio no. 1 position will be further enhanced through expansion in distribution and whitelabel in Norway…
Norway Key focus going forward is primary line replacement with high value add
mobile integration services Telio target market segment is and will still be high volume callers Other customer segments in Norway can be served by white label Distribution channels need to be added (e.g. Netthandelen), but TM and
www.telio.no will continue to be important in the near to mid-term Important to strengthen Sales and Market and Customer Service
departments in order to continue the growth (temps in CS)
… and international
International Musimi in Denmark still going strong, but Telio will launch the Telio brand
name and services this year Sweden and Holland so far on white-label. Holland in operation, Sweden in
operations Q1-06 Early stage white-label discussions going on in other countries, but long lead
time to close deal Other countries are being investigated as part of the development of an
international expansion strategy
New services will play an important role in building value add to the customers
New services will continue to be rolled out – launched in H1: Conference Bridge with international dial in numbers (8 countries so far, more
countries will be added) PC centric soft phone with video capabilities:
””TidTid: 28. august 2005, 01:30 AM lokal tid . august 2005, 01:30 AM lokal tid Sted: SAS Business class, Bangkok-Copenhagen, SK972 Sted: SAS Business class, Bangkok-Copenhagen, SK972 Posisjon: Et sted over diktaturstaten Myanmar, 9500 moh, 950km/h Posisjon: Et sted over diktaturstaten Myanmar, 9500 moh, 950km/h Samtale: til norsk mobilnummer Samtale: til norsk mobilnummer Utstyr: Laptop med wireless card og Softphone, SAS inflight WLAN Utstyr: Laptop med wireless card og Softphone, SAS inflight WLAN Provider: Boeing Connexions high speed satellite internet (på alle SK interkontinentale Provider: Boeing Connexions high speed satellite internet (på alle SK interkontinentale flyvinger) flyvinger) Resultat: Noe ekko på mottakerside, ellers utmerket samtalekvalitet”Resultat: Noe ekko på mottakerside, ellers utmerket samtalekvalitet”
Many new value added services are either in development or being researched. Many new value added services are either in development or being researched. Focus on sales promoting and mobile integration featuresFocus on sales promoting and mobile integration features
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
Telio outlook
Top and bottom line growth will continue into Q3 Customer growth somewhat lower in Q3 than Q2 due to summer (but growth
Q3 still nearly 300 % higher than Q3 last year) Reduced SG&A spending due to lower customer growth New distribution channels will be brought online New very high value service features will be launched in Q3 and Q4
Agenda today`s presentation
Highlights New Management Q2-05 Telio Structure Market and competition Outlook Q&A
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