Syahrial Ali's Blog

SOURCE  Hutchison Telecommunications International Limited

The Hutchison Telecommunication International Limited just released the complete report for the financial year 2008 for all of the company in the group, including the PT. Hutchison CP Telecommunications (‘HCPT’) Indonesia. The main points are: — Customer base more than doubled to 4,501,000, while  — Accelerated network expansion with over 6,300 base stations on-air. Complete report is as below.

The Group’s Indonesian operation PT. Hutchison CP Telecommunications (‘HCPT’) continued to report good progress in its second year of operation despite a very challenging environment. Total customer base grew over 120% yearly on the back of accelerated network expansion across the country, strong branding and an effective distribution system. HCPT ended the year 2008 with more than 6,300 base stations on-air covering over 67% of the total population and all major cities in the country. It expects to increase the size of its networks to over 9,000 base stations by the end of 2009. HCPT is looking to maintain strong customer acquisition in 2009 in line with its expanded coverage.

HCPT’s turnover for the year increased 169.2% to HK$315 million on the back of customer growth. However, as HCPT is still in the early stage of establishing its footprint and further network expansion and increased marketing activities are required to establish a critical mass of customers, its loss before interest, taxation, depreciation and amortisation (‘LBITDA’) for 2008 increased to HK$1,003 million from HK$475 million in 2007.

Nevertheless 2008 was a successful year for HCPT, as it seeks to become a leading GSM operator in Indonesia. Particularly in the last quarter where there was encouraging improvement in profitability. Through a series of revenue improvement initiatives implemented in the beginning of the second half, HCPT’s prepaid average revenue per user (‘ARPU’) went up 22.2% to IDR11,000 from the last quarter. Together with stablised minutes of use (‘MOU’) the average revenue per minute (‘ARPM’) was lifted to IDR200 compared to IDR177 in the third quarter. Although prepaid churn appeared to have increased to 24.3% this was mainly due to an one-off exercise at the year end that identified and reduced inactive customers. HCPT expects to see churn revert to levels experienced in earlier quarters.

HCPT Unaudited Key Performance Indicators for 2008
Customer Base
                       Total  Postpaid   Prepaid
                       ('000)    ('000)    ('000)
31 December 2008        4,501       11     4,490
30 September 2008       3,604        9     3,595
30 June 2008            3,203        7     3,196
31 March 2008           2,331        4     2,327
31 December 2007        2,039        3     2,036

ARPU                   Blended  Postpaid   Prepaid
                        ('000)    ('000)    ('000)
31 December 2008           11      134      11
30 September 2008          10      134       9
30 June 2008               12      108      12
31 March 2008              14      120      14
31 December 2007           15      1        15

Minutes of Usage (MOU) Blended  Postpaid   Prepaid
31 December 2008           55      225      55
30 September 2008          56      209      56
30 June 2008               82      117      82
31 March 2008              94      104      94
31 December 2007           83       59      83

Churn rate             Blended  Postpaid   Prepaid
31 December 2008           24.2%    4.1%    24.3%
30 September 2008          18.1%    5.3%    18.1%
30 June 2008               15.6%    7.9%    15.6%
31 March 2008              17.6%    11.0%   17.6%
31 December 2007           17.7%    16.3%   17.7%

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