Slides
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Sensitivity: Internal Grameenphone Q1 2025 Earnings Call 24 April 2025
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Sensitivity: Internal This presentation is intended only for and directed solely at individuals who are considered "relevant persons" under applicable law. Any individual who is not a relevant person should not rely on or act upon the information presented herein. The information contained in this presentation regarding the past prices or yields of relevant investments should not be relied upon as a guide to future investment performance. This presentation does not constitute an offer of securities or an invitation or inducement to underwrite, subscribe for, or acquire securities in Grameenphone Ltd. The distribution, release, or publication of this presentation may be subject to legal restrictions in certain jurisdictions, and individuals in those jurisdictions should inform themselves about and comply with such restrictions. Disclaimer Q4 2024
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Sensitivity: Internal 3 Q1 2025 Highlights Q1 2025 Resilience in business: Efficiently navigating through tough economic climate Data user and usage growth signaling renewed momentum Enabling innovation through Next-Gen IT and Network Transformation
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Sensitivity: Internal Q1 2025 Innovating Across Technology, Experience, and Engagement Advanced analytics for Eid Customer-Centric network optimization to support peak demand Smarter connectivity for every household GpFi’s rapid growth fueling connectivity demand Pioneering VoLTE roaming Enhancing global connectivity for customers Driving Engagement in Off-Peak Seasons A Gamified Approach to Drive Sales During Ramadan
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Sensitivity: Internal • Inclusive digital push through affordable devices and partnerships • Revolutionizing touch-free distribution Customer Centricity Customer Centricity • In-built ICT and IOT products gaining traction • ICT Revenue sees remarkable growth Innovation • New capabilities in MyGP to drive growth • Omni-channel customer service IT Transformation 29% DSTR Contribution 38% Reload STS Share AI first approach • Accelerating growth, efficiency, and customer experience with AI-First program • Achieving Full Resilience in Service Delivery with SDP Geo Redundancy Transforming for the Future: Our Journey to a Future-Fit Organization Q1 2025 •Bridging the Digital Divide with Affordable 4G Access”
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Sensitivity: Internal 6 Shaping the Future with our Sustainability vision Creating Entrepreneurs • Awarded 20 most promising business ideas • Focus on fostering innovation and entrepreneurship at the grassroots level. Inclusive Digital Future • Trained individuals in UI/UX and WordPress, enabling them to generate income through freelancing. • Trained and upskilled 220k+ people, mostly women focusing on enhancing digital skills Climate • 56% of total spend from partnerships committing to reduce carbon emissions • Continued CPPA policy advocacy with Energy Advisor through IFC workshop
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Sensitivity: Internal Q1’25 Financial Highlights Slow economy impacting results, first signs of recovery vs 1H24 Q1 2025 1Q25 1Q24 YoY % Revenue 38.3 39.3 -1.0 -2.5% EBITDA 22.0 23.9 -1.9 -8.1% Margin 57.4% 60.8% NPAT 6.3 13.4 -7.0 -52.6% -24.9% Margin 16.5% 34.0% OCF 17.2 16.8 0.4 2.4% Margin 44.8% 42.6% • Consumer confidence trending up • Revenue decline abating • Deep NW & IT modernization • Currency impact on Finance costs of -0.8bn • Normalized NPAT –24.9% excl 1Q’24 one-off • Strong Operational CF
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Sensitivity: Internal Total Subscribers (Mn) Active Data Users* (Mn) *Minimum 150 KB usage within last 3 months Q1’25 Subscriber & Data User Subscriber base back to growth Q1 2025 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 83.0 85.3 84.6 84.3 84.8 +2.2% 46.3 49.7 49.3 48.0 48.3 55.8% Q1’24 58.3% Q2’24 58.3% Q3’24 56.9% Q4’24 57.0% Q1’25 +4.4% Active Data User % of Sub-base
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Sensitivity: Internal Service ARPU (BDT) Service AMPU Q1’25 Revenue metrics ARPU trend reversed, Data growth continues Q1 2025 157 165 153 145 148 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 176 180 179 170 165 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 6,970 Q1’24 7,560 Q2’24 6,031 Q3’24 6,713 Q4’24 Q1’25 7,434 Data Usage (AMBPU)
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Sensitivity: Internal Total Revenue (BDT Bn) and Growth (YoY) STR* (BDT Bn) and Growth (YoY) 37.3 40.3 37.6 35.4 36.4 5.2% Q1’24 6.4% Q2’24 -3.3% Q3’24 -7.1% Q4’24 -2.4% Q1’25 -2.4% * Subscription & traffic revenues STR (Bn) STR Growth YoY Q1’25 Revenue Revenue rebounds QoQ Q1 2025 39.3 42.2 39.5 37.3 38.3 5.3% Q1’24 5.6% Q2’24 -3.8% Q3’24 -7.2% Q4’24 -2.5% Q1’25 -2.5% Revenue (Bn) Revenue Growth YoY -1.3% excl Leap Year effect-1.4% excl Leap Year effect
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Sensitivity: Internal Opex (BDT Bn) and Margin * EBITDA before other items EBITDA* (BDT Bn) and Margin 13.0 14.2 13.8 13.7 14.0 33.1% Q1’24 33.5% Q2’24 34.8% Q3’24 36.7% Q4’24 36.5% Q1’25 +7.6% Opex (BDT Bn) Margin % Q1’25 Opex & EBITDA EBITDA impacted by topline decline and modernization Q1 2025 23.9 25.5 23.2 21.4 22.0 60.8% Q1’24 60.4% Q2’24 58.7% Q3’24 57.2% Q4’24 Q1’25 57.4% -8.1% EBITDA (BDT Bn) Margin %
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Sensitivity: Internal NPAT (BDT Bn) and Margin Earnings Per Share (BDT) 9.9 6.4 5.6 5.0 4.7 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 -52.6% Q1’25 Net Profit NPAT impacted by topline decline, modernization and currency Q1 2025 13.4 8.6 7.6 6.8 6.334.0% Q1’24 20.4% Q2’24 19.1% Q3’24 18.1% Q4’24 16.5% Q1’25 -52.6% NPAT (BDT Bn.) Margin % 8.4 Normalized NPAT 6.3 -24.9% normalized-24.9% normalized Normalized NPAT
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Sensitivity: Internal Q3 2021 OCF2 (BDT Bn) and OCF/Sales% 1. Capex here refers to operational capex excluding lease 2. OCF equals EBITDA minus Capex (excluding license & lease) 3. Net Debt = Short term debt + Long term debt - Cash and Cash equivalents (excl. restricted cash); 12 months rolling EBITDA Net debt3 (BDT Bn) and Net debt/EBITDA 16.8 20.9 19.3 18.7 17.2 42.6% Q1’24 49.5% Q2’24 48.9% Q3’24 50.2% Q4’24 44.8% Q1’25 +2.4% OCF OCF/Sales % (17.7) (15.6) (0.18) Q1’24 (0.13) Q2’24 (0.01) Q3’24 (0.02) Q4’24 (13.4) (1.26) Q1’25 (0.17) (2.2) Net Debt Net Debt/EBITDA Q1’25 OCF & Net debt Strong cash flow and solid balance sheet Q1 2025 Capex1 (BDT Bn) 7.2 4.6 3.9 2.6 4.8 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Capex (BDT Bn.)
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Sensitivity: Internal Q1’25 Financial Summary Q1 2025 Q1'25 Q1-24 Var in % Main drivers Revenue 38,345 39,329 (984) -2.5% Weak macro, Leap Year 1Q24 Costs (16,348) (15,400) (948) 6.2% NW & IT Modernization, energy , inflation EBITDA 21,997 23,929 (1,932) -8.1% D&A (9,271) (8,349) (922) 11.0% NW modernization EBIT 12,726 15,581 (2,855) -18.3% Finance costs (1,720) (890) (830) 93.3% Weaker BDT PBT 11,006 14,691 (3,685) -25.1% Taxes (4,667) (1,310) (3,356) 256.1% Tax provision reversal Q1'24 (BDT 4.9bn) NPAT 6,339 13,380 (7,041) -52.6% NPAT exc One-off 6,339 8,446 (2,107) -24.9%
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Setting standard for Excellence in the Industry • Building a proactive risk management culture through structured practices, robust processes, and advanced tools. • Strengthening Grameenphone’s position in cybersecurity • Reducing night driving for our distributors as part of our commitment to responsible business • Meaningful delivery for people with disabilities through new service integration Summary • Navigating Change with Clarity and Commitment • Driving Resilience, Innovation, and Growth. • Economic recovery in sight
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Sensitivity: Internal Q&A SESSION For queries, please reach out to +8801755552271 Email: Investor.relations@grameenphone.com https://www.grameenphone.com/about/inv estor -relations