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1、 Annual Results 2010 China Telecom Corporation Limited 22 March 2011 www chinatelecom h c 3 Agenda 1 2 3 概述概述 商业商业 回顾回顾 财务财务 业绩业绩 4 Highlights主要成果主要成果 Effective integrated operation driving remarkable earnings recovery 有效的一体化经营带动卓越的收入复苏有效的一体化经营带动卓越的收入复苏 Rapid mobile growth with scale benefits emergi
2、ng 高速移动业务发展带来规模效益的呈现高速移动业务发展带来规模效益的呈现 Accelerate strategic broadband deployment to enhance sustainable core competence 战略性的宽带提速部署增强核心竞争力战略性的宽带提速部署增强核心竞争力 To strengthen differentiation development leveraging Mobile Internet to create more value 利用移动互联网强化差异化发展创造更多价值利用移动互联网强化差异化发展创造更多价值 6 Solid Results
3、 主要业绩主要业绩 Adjusted Results 调整后结果调整后结果 Operating Revenue RMB Mil 主营收入主营收入 EBITDA RMB Mil EBITDA Margin EBITDA率率 Net Profit RMB Mil 净利润净利润 EPS RMB 每股利润每股利润 Free Cash Flow RMB Mil 净现金流净现金流 Access Lines in Services Mil 固话固话 Mobile Subs Mil 移动用户移动用户 Including 3G Subs Mil 其中其中3G Wireline Broadband Subs Mi
4、l 宽带用户宽带用户 2009 208 219 82 133 39 4 13 271 0 164 31 159 2009 12 188 56 56 09 4 07 53 46 2010 219 367 88 495 40 3 15 262 0 189 27 107 2010 12 175 05 90 52 12 29 63 48 Change 同比同比 5 4 7 7 0 9pp 15 0 15 0 13 0 Change 13 51 34 43 8 22 10 02 Notes Unless otherwise stated in this presentation 1 All financ
5、ial data were adjusted to exclude Upfront Connection Fees 2 EBITDA was calculated before CDMA Network Leasing Fees 2009 RMB8 383 mil 2010 RMB13 320 mil to enhance comparability 3 Net Profit represented profit attributable to equity holders of the Company 4 Free Cash Flow EBITDA CDMA Network Leasing
6、Fees CAPEX Income Tax Expenses 7 Revenue Growth Drivers 收入增长构成收入增长构成 7 6pp 4 2pp 4 3pp 4 5pp RMB Mil 219 367 Overall Revenue 208 219 9 454 5 4 15 934 8 749 8 879 2009 Wireline Voice 固网语音固网语音 Wineline Data 2010 RMB139 mil 23 Effective Cost Control Fuelling Sustainable Growth 成本控制成本控制 Operating Expens
7、es as a of Operating Revenue占收比占收比 Optimized Cost Structure Depreciation Amortization 1 5pp benefiting 89 7 89 3 from prudent CAPEX control Cash operating expenses as a of Operating Revenue 25 1 Depreciation Amortization 折旧摊销折旧摊销 23 6 remained relatively steady benefiting from enhanced operating eff
8、iciency enabled by appropriate co ordinated resources deployment Network 21 0 Operations Support运营支撑 21 6 Network Operations Support 0 6pp 15 8 19 4 Personnel人工 SG A一般管理 16 2 19 2 SG A 0 2pp stringent control in sales marketing expenses and handset subsidies Personnel 0 4pp appropriate increase to a
9、ttract motivate talents and enhance performance based 8 4 Interconnection Others 8 7 reward for general staff Interconnection and Others 0 3pp 2009 2010 24 Optimize Resources Deployment to Promote Profitable Scale Development降本增效降本增效 Optimize resource allocation to support scale development Tilt res
10、ources CAPEX to drive incremental revenue rapid scale development Consolidate existing revenue via effective cost initiatives Reinforce budget control implement Scientific cost management to enhance efficiency Implement stringent handset subsidy policy with focus on 3G subs and commensurate with cus
11、tomer value Discipline in administrative and other indirect operating expenses Assure network maintenance initiatives for leading network quality Improve resources deployment to foster transformation precision management Enhance investment structure to reap higher return Tilt resources towards high
12、growth high return businesses to fuel scale development of new and strategic businesses Introduce incentives to enhance staff performance edge while maintaining a reasonable personnel cost structure 25 Increase investment in fibre broadband roll out to build an IP based intellectual network of high
13、bandwidth Strengthen resources redeployment and asset utilization for enhanced return Enhanced CAPEX Structure Supporting Strategic Transformation资本支出资本支出支持转型支持转型 CAPEX Structure支出结构支出结构 Strictly control investment in traditional wireline business and increase investment in transformation business t
14、o enhance network 4 2 3 7 17 8 20 2 Wireline Voice IT Support VAS Integrated Information Services 综合信息服务 Infrastructure Others 基础设施和其他 2 4 2 9 13 9 16 6 servicing capability Broadband Internet VAS Integrated Information Services IT Support Wireline Voice Infrastructure Others 10 1pp yoy 3 9pp yoy 0
15、8pp yoy 1 8pp yoy 3 6pp yoy Speed up fibre broadband roll out to maintain edge and enhance sustainable 54 1 Broadband Internet 宽带和互联网 64 2 development 17 9m broadband access capacity in 2010 Customer access bandwidth capability Coverage in cities城市覆盖计划城市覆盖计划 4M 98 3pp yoy 2009 2010 20M 58 22pp yoy N
16、ote 1 Broadband Internet included data network transmission network broadband access equipment cable 2 VAS Integrated Information Services included VAS platform ICT 3 IT Support included enterprise informatization services 4 Wireline Voice included switches voice access equipment cable 5 Infrastructure Others included air conditioning supply facilities conduits buildings minor purchases R D etc 26 Enhanced Profitability增强盈利能力增强盈利能力 EBITDA Net Profit净利润净利润 82 133 7 7 88 495 15 15 262 13 271 2009
