Sharp falls in investment
Thursday, 31 December 2009
Banglalink's performance in first nine months of 2009 as compared to first nine month of 2008 (See Table 2)
AXIATA's performance in first nine months of 2009 as compared to first nine months of 2008 (See Table 3)
Axiata's financial numbers were kind of confusing. There is no match in their published subscribers numbers and ARPU; if we consider Axiata's published ARPU is correct than their subscribers numbers should be 8.45 million not 11.07 million; we hope Axita management will correct it, either their ARPU is lower than published or actual subscribers numbers is different.
In general minutes of uses (MOU) in a single month for average subscriber and Average revenue per user (ARPU) increasing for most of the operators also in third quarter a sign operators may find very promising.
Considering all Banglalink performance was kind of impressive compared to their competitions. The writer is an industry analyst and can be reached at
e-mail: khaled.shams@live.com
| BL' Q109 | BL' Q108 | BL' Q209 | BL' Q208 | BL'Q309 | BL'Q308 | ||
| Revenue | BDT (mil BDT) | 5727 | 4735 | 6003 | 4390 | 6181 | 5175 |
| mil USD | 83 | 69 | 87 | 64 | 89 | 75 | |
| Subs | million | 10.83 | 8.31 | 11.04 | 9.45 | 12.13 | 10.14 |
| Capex | BDT (mil BDT) | 1518 | 6417 | 1932 | 7797 | 1874 | 6969 |
| mil USD | 22 | 93 | 28 | 113 | 27 | 101 | |
| MOU | minutes/month/sub | 278 | 250 | 267 | 244 | 259 | 248 |
| ARPU | BDT | 172.5 | 193 | 179 | 154 | 173 | 166 |
| USD | 2.50 | 2.80 | 2.60 | 2.20 | 2.50 | 2.40 | |
| EBITDA | BDT (mil BDT) | 1428.71 | 29.118 | 2686 | -826.21 | 2456 | 195 |
| mil USD | 20.71 | 0.42 | 38.93 | -11.97 | 35.39 | 2.83 | |
| margin | 24.90% | 0.60% | 44.6% | -18.80% | 36.6% |
AXIATA's performance in first nine months of 2009 as compared to first nine months of 2008 (See Table 3)
| AXQ109 | AXQ108 | AXQ209 | AXQ208 | AX H1 09 | AXQ309 | AXQ308 | ||
| Revenue | BDT (mil BDT) | 4392 | 3609 | 4680 | 3629 | 9072 | 4898 | 3432 |
| mil USD | 63.65 | 52.30 | 68 | 53 | 131 | 71 | 50 | |
| Subs | million | 8.76 | 7.45 | 9.37 | 7.82 | 9.37 | 11.07 | 8.18 |
| Capex | BDT (mil BDT) | 2652 | 1061 | 1624 | 890 | 4276 | 1124 | 1969 |
| mil USD | 38.43 | 15.38 | 24 | 13 | 62 | 16 | 29 | |
| MOU | minutes/month/sub | 165 | 172 | 157 | 205 | 161 | 159 | 163 |
| ARPU | BDT | 195.27 | 248.4 | 199 | 235 | 197 | 193 | 183 |
| USD | 2.83 | 3.60 | 2.88 | 3.40 | 2.86 | 2.78 | 2.65 | |
| EBITDA | BDT (mil BDT) | 1399 | 1896 | 2140 | 1063 | 3539 | 829 | 864 |
| mil USD | 20.28 | 27.48 | 31.88 | 15.41 | 51.80 | 11.95 | 12.52 | |
| margin | 32% | 39% | 47% | 29% | 39% | 17% | 25% |
Axiata's financial numbers were kind of confusing. There is no match in their published subscribers numbers and ARPU; if we consider Axiata's published ARPU is correct than their subscribers numbers should be 8.45 million not 11.07 million; we hope Axita management will correct it, either their ARPU is lower than published or actual subscribers numbers is different.
In general minutes of uses (MOU) in a single month for average subscriber and Average revenue per user (ARPU) increasing for most of the operators also in third quarter a sign operators may find very promising.
Considering all Banglalink performance was kind of impressive compared to their competitions. The writer is an industry analyst and can be reached at
e-mail: khaled.shams@live.com