Kapitalmarknadsdag. March 15th 2012 CEO Klaus Høeg-Hagensen

Transcription

1 Kapitalmarknadsdag March 15th 2012 CEO Klaus Høeg-Hagensen

2 Introduction to Stofa Founded in 1959 Store fællesantenneanlæg Second largest cable TV operator in Denmark Strong position within broadband, Voice IP and digital TV Distribution through own fiber optic backbone and strategic alliances with more than 300 antenna associations

3 Introduction to Stofa Founded in 1959 Store fællesantenneanlæg Second largest cable TV operator in Denmark Strong position within broadband, Voice IP and digital TV Distribution through own fiber optic backbone and strategic alliances with more than 300 antenna associations Antenna associations in the 60/70ies Local installations in 1959 Extended cable business and broadband in the 90ies

4 Introduction to Stofa Founded in 1959 Store fællesantenneanlæg Second largest cable TV operator in Denmark Strong position within broadband, Voice IP and digital TV Distribution through own fiber optic backbone and strategic alliances with more than 300 antenna associations

5 A short overview of the Danish market - TV distribution Kilde: Screen Digest and Stofa

6 A short overview of the Danish market - Fixed Broadband

7 The Stofa business model Traditional TV Administration Network Maintenance Traditional TV Stofa owned Network Digital services Broadband Digital TV Voice IP Antenna associations

8 Introduction to Stofa mio SEK Net sales mio SEK *one-offs 33 mio SEK EBITDA FTE Employees 2011 B-T-B customers customers customers

9 The Stofa offering to antenna associations Traditional TV Content Network administration Network upgrades Customer service Flexible model adjusted to Danish democratic antenna associations State of the art maintenance and surveillance of network and installations End user service calls 365 days a year Administration and incoming customer calls per year 67% of turnover 46% of contribution

10 The Stofa offering - to end customers Broadband and Voice IP Speeds up to 111/11 Mbit WebTv and WebTv to go Voice IP Entry level is 15/2 Mbit The first Coax based internet solution in Denmark in 1996 Strong technology with high capacity and highly competitive prices State of the art service 27% of turnover 50% of contribution

11 The Stofa offering - to end customers Digital platform - Zaptor Own application software VOD with titles Time shift Start again Catch up Cloud recording Ipad/smartpho ne 6% of turnover 4% of contribution

12 When are the consumers ready for new technology? If I had asked my customers what they would like, they would have answered a faster horse Henry Ford

13 Anything Anytime Anywhere - A new world for the consumers

14 Strategy Roadmap 2014 Strategy elements: Simplify core business Means: Standard offering Product simplification Goals: Increase margins Increase buying power Strong communication platform Triple play communication Strenghten end-user relationship Sales and marketing approach Bundling/Triple play Increase broadband penetration and digital TV customer base Increase stickiness and margins Prepare for changing consumer behaviour Efficiency New competences New structures and tools New R&D process Financial transparency Lower costs Clear responsibility Short time to market Strong communication Lean and agile

15 Current strategic actions Strategy elements: Simplify core business Standard channel package rolled out New purchasing strategy Strenghten end-user relationship Investments in building digital-tv and broadband customer bases Acquisition of part of Canal Digital New marketing strategy Efficiency Closure of customer centers Staff reduced from New management team

16 2011 Innovative services launched Acquisition of Canal Digital Reversed trend in broadband customer base VoIP growth Increased content margin Staff reduction New management team Result improvement One-offs Refinancing of 425 mio. DKK MIO Y 2009 Y 2010 Y 2011 DKK Turnover EBITDA 166 *one-offs *one-offs *one-offs 27

17 Actions for New sales and marketing approach Investments in digital TV and broadband customer bases More value added services to antenna associations Margin improvements from standardization and purchasing conditions Further profitability improvements Capital efficiency Efficiency Sales and marketing focus Innovation

18 Thank you for listening

19 Stofa Per Frankling 15 mars

20 Ratos investering i Stofa Förvärv från TeliaSonera i juni EV: 1090 MDKK - Ratos investering 527 MDKK - Ägarandel 99% Bokfört värde : 703 MSEK Refinansiering genomförd under Q1 2012: MDKK delats ut Förvärv från Canal Digital utan kapital från Ratos Ratos bolagsteam: - Per Frankling (bolagsansvarig) - Johan Rydmark 2

21 Stofa (MDKK) Omsättning EBITA Just EBITA

22 Grund för investeringen Efterfrågan på bandbredd accelererar ständigt Kabel stark accessteknologi - Kapacitet/kostnad/investeringsprofil vs. ADSL och fiber - Slöseri att använda radiospektrum för fasta förbindelser - Konvergerar med fibernät över tiden Stofa unikt kommersiellt/strategiskt case - Välinvesterat, starka produkter, innovationsledare - Ej optimerad lönsamhet under Telias ägande Mycket stabila kassaflöden 4

23 Investeringscase Kostnadsoptimering Förbättrade marginaler genom standardisering/stärkt förhandlingsposition Ökad bredbandspenetration Säkerställande av plattform i framtida TV-värld Kassaflödesfokus 5