14 November 2013
3Q13 RESULTS PRESENTATION
DISCLAIMER
This document contains forward looking information, including statements which constitute forward looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and assumptions of our management and
on information available to management only as of the date such statements were made.
Forward-looking statements include
(a) information concerning strategy, possible or assumed future results of our operations, earnings, industry conditions, demand and pricing for our
products and other aspects of our business, possible or future payment of dividends and share buy back program; and
(b) statements that are preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “intends”, “is confident”, “plans”,
“estimates”, “may”, “might”, “could”, “would”, and the negatives of such terms or similar expressions.
These statements are not guarantees of future performance and are subject to factors, risks and uncertainties that could cause the assumptions
and beliefs upon which the forwarding looking statements were based to substantially differ from the expectation predicted herein. These factors,
risks and uncertainties include, but are not limited to, changes in demand for the company’s services, technological changes, the effects of
competition, telecommunications sector conditions, changes in regulation and economic conditions. Further, certain forward looking statements are
based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from
the plans, strategy, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements.
Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new
information or future developments or to provide reasons why actual results may differ. You are cautioned not to place undue reliance on any
forward-looking statements.
ZON OPTIMUS is exempt from filing periodic reports with the United States Securities and Exchange Commission (“SEC”) pursuant to Rule 12g3-
2(b) under the Securities Exchange Act of 1934, as amended. Under this exemption, ZON OPTIMUS is required to post on its website English
language translations of certain information that it has made or is required to make public in Portugal, has filed or is required to file with the
regulated market Eurolist by Euronext Lisbon or has distributed or is required to distribute to its security holders.
This document is not an offer to sell or a solicitation of an offer to buy any securities.
2
3Q13 Highlights
3Q13 RESULTS PRESENTATION
3
Completion of Merger on 27 August and election of new Management team on 1 October
Creation of a larger, stronger and more competitive Telco group with the best NGN and 4G network and coverage in Portugal
Leading in Innovation with the best and most advanced services
Strong operating and financial performance in 3Q13
Continued focus on efficiency and cost control
Launch of ZON4i on 22 October, the first integrated communications and entertainment offer by ZON OPTIMUS
Integration projects well under way in line to capture synergies
3Q13 OPERATING REVIEW
4
3Q13 RESULTS PRESENTATION
PHONE MOBILE MONTHLY FEE INTERNET TV IRIS
116 CHANNELS 16 HD
100 MEGAS 500,000 Hotspots
Free Wi-Fi ZON@Fon
UNLIMITED in
Portugal and 50 international
destinations
2 UNLIMITED SIM Cards
with 200 MB/card
€ 79.99
One or two additional unlimited SIM Cards for only € 7.5/month each
Leadership in Innovation Launch of ZON4i – the best integrated communications and entertainment offer in the market
5
3Q13 RESULTS PRESENTATION
Plus:
600 thousand hotspots in Portugal, 12 million worldwide
MyZONcard – 2 for 1 movie going card
TV + NET + FIXED + 2 MOBILE SIM CARDS
IRIS at the forefront of innovation worldwide
Launch of Download to Own in 3Q13:
Download content to personal library
Available any time, anywhere, forever
Multiple platform viewing
Leadership in Innovation Launch of Download to Own in 3Q13
6
3Q13 RESULTS PRESENTATION
2011 2013
IRIS BY ZON FIBRA CHANGING THE WAY
TV IS WATCHED
ZON ONLINE TV WHEREVER AND WHENEVER
YOU WANT
TIMEWARP AUTOMATICALLY RECORD
THE PAST 7 DAYS
RESTART TV WATCH YOUR
FAVOURITE PROGRAMME FROM THE BEGINNING
JANUS AWARDS INSTITUT FRANÇAIS DU DESIGN
OPTIMUS 4G COMMERCIAL
LAUNCH
4G OPTIMUS WINS GPS AWARDS
2012 AND 2013
OPTIMUS KANGURU HOTSPOT 4G
PRODUCT OF THE YEAR 2012/ 2013
OPTIMUS HITS RECORD SPEEDS OF 300 MBPS IN 4G
OPTIMUS BOSTON
FIRST OWN BRAND 4G SMARTPHONE
OPTIMUS FIRST OPERATOR
TO TEST 4G ROAMING
156 channels
49 in HD
21 Exclusive
Multiplatform viewing with IRIS
Leadership in Innovation The best channel line up with the largest HD offer in the market. Launch of Benfica TV in July
7
3Q13 RESULTS PRESENTATION
BENFICA TV ON ZON ONLY € 9.90/MONTH
Targets the increasingly important youth market
Creates unique relationship
Freedom to contact anyone on any network
Gradually helps break the network effect
Unlimited use of the best communication and navigation APPS
Includes 500 mins/SMS/MMS for all networks for € 11.90 (500 Mb), € 13.90 (1Gb) or € 16.90 (2 Gb)
Leadership in Innovation Addressing the youth market with a new brand and value proposition
8
3Q13 RESULTS PRESENTATION
Unlimited Traffic
WhatsAPP Viber Skype Facebook Messenger
Blackberry Messenger
OPTIMUS LIGA: no network constraints
An all-net, flat-fee mobile tariff plan, designed for the lower end of the market
100 min / SMS / MMS for just € 9.99 / month
Add-on 200 MB data package available for € 2.90 / month
Leadership in Innovation All-Net tariffs – more freedom, no network restrictions
9
3Q13 RESULTS PRESENTATION
COST REDUCTION
NO NETWORK
CONSTRAINTS
Best Customer Experience ZON OPTIMUS has received numerous awards for customer service and satisfaction
10
3Q13 RESULTS PRESENTATION
For the 3rd consecutive
year Portuguese
customers vote ZON as
the best Pay TV provider
in Portugal. This year
ZON also ranked first in
the Broadband and
Fixed Voice categories.
European Customer Satisfaction Index Product of the Year
IRIS and Kanguru
Hotspot 4G were voted
Product of the Year
Consumer Choice
ZON’s state-of-the-art Pay
TV service, IRIS, was voted
best Consumer Choice and
OPTIMUS was considered,
for the second consecutive
year, favourite mobile
operator by Portuguese
customers
APCC distinguishes
OPTIMUS Customer
Care Service as the Best
in Portugal
Portuguese Contact Center Association
According to the Marktest Reputation Index 2013, ZON is the best national Pay TV operator, with a ranking of 73.72% compared with a sector average of 67.04%
Marktest Reputation Index
OPTIMUS was distinguished with the Best Customer Service EMEA (Europe, Middle East and Africa) – Large Operations and ZON with the Best Incentive Scheme
Contact Center World 2013
OPTIMUS Negócios’
Linha Express wins GPS
Award organized by
Orange
GPS Awards
Good operating results in 3Q13 Very strong net adds in IRIS – already 49% of cable 3&4 play base
3&4P Customers and Penetration of Cable Base
[Thousands, %]
IRIS customers and Penetration of 3&4P
Customer Base [Thousands, %]
11
3Q13 RESULTS PRESENTATION
Net Adds [Thousands]
688.8751.7 792.5
59.3%
62.4%
66.5%
30%
50%
70%
90%
110%
130%
150%
00
100
200
300
400
500
600
700
800
3Q11 3Q12 3Q13
+9.1% +5.4%
65.097.0
118.9
161.5193.0
234.8
284.4
338.7
390.3
9%14%
17%22%
26%30%
36%43%
49%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
00
50
100
150
200
250
300
350
400
450
3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
18.8 32.1 21.9 42.6 31.4 41.8 49.6 54.3 51.5
Note: Ex-ZON
+ 6.4 thousand 3&4P net adds in 3Q13
725.0766.2
811.7
62% 64%68%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
200
300
400
500
600
700
800
3Q11 3Q12 3Q13
844.0960.2 995.4
71%
78%82%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
00
200
400
600
800
1,000
3Q11 3Q12 3Q13
Good operating results in 3Q13
Broadband Subscribers
[Thousands, % of Penetration of Cable Base]
Fixed Voice Subscribers
[Thousands, % of Penetration of Cable Base]
12
3Q13 RESULTS PRESENTATION
Continued increase in Broadband and Fixed Voice subscribers
Note: Ex-ZON
+ 6.4 thousand Broadband net adds in 3Q13
+ 5.6 thousand Fixed Voice net adds in 3Q13
Basic, Premium and Blended ARPU
[3Q12 = Base 1]
13
3Q13 RESULTS PRESENTATION
+0.5%
+2.6%
-12.4%
0.80
0.85
0.90
0.95
1.00
1.05
1.10
3Q12 4Q12 1Q13 2Q13 3Q13
Blended ARPU Basic ARPU Premium ARPU
Basic ARPU +2.6%
Blended ARPU + 0.5%
Improved mix of customers with continued IRIS uptake
Lower yoy decline in premium channel ARPU
Good operating results in 3Q13 Improving customer mix driving ARPU improvement
Note: Ex-ZON
Good operating results in 3Q13
Mobile Subscribers
[Thousands]
14
3Q13 RESULTS PRESENTATION
33.5% 33.5%32.8%
33.9% 33.8%
3Q12 4Q12 1Q13 2Q13 3Q13
Positive net adds of 8k in 3Q13
Seasonality
Lower impact of the end of e-schools initiative
66.4% 66.7% 66.4% 66.5% 67.3%
33.6% 33.3% 33.6% 33.5% 32.7%
3,566.3 3,568.6 3,507.1 3,434.6 3,442.6
00
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
00%
20%
40%
60%
80%
100%
120%
3Q12 4Q12 1Q13 2Q13 3Q13
Pre-Paid Post-Paid
Positive net adds in Optimus mobile 3Q13
Data represents 33.8% of Service Revenues
Non SMS data at 79.7% of data revenues
Mobile ARPU remained flat at 10.8 euros
Data as % of Revenues
[%]
Note: Ex-OPTIMUS
2,3831,992
1,784 1,758
2,413
4.9 4.7 4.6 4.7 4.7
03
04
04
05
05
06
06
07
07
0
500
1000
1500
2000
2500
3000
3Q12 4Q12 1Q13 2Q13 3Q13
Tickets Sold Avg. Revenue Per Ticket
-2.1%
1.3%
-13.6%
-10.5%
Gross Revenue Attendance
ZON Market
Good operating results in 3Q13 Cinema going improved in 3Q13
Cinema tickets sold and revenue per ticket
[Thousands, Euros]
3Q13 Performance of Gross Revenues and
Attendance [%]
15
3Q13 RESULTS PRESENTATION
Ticket sales up by 1.3%
Market attendance – 10.5%
First IMAX screen opened on 20 June, 40,000 spectators in 3Q13
Source: ZON, ICA
Average Revenue per ticket down by 3.3%
Gross revenues down 2.1% in 3Q13
Market down by 13.6%
Good operating results in 3Q13
Cinema Gross Revenues by Distributor - Market
Share 3Q13 [%]
16
3Q13 RESULTS PRESENTATION
Source: ZON, ICA
ZON Audiovisuals maintaining strong leadership in Cinema Distribution
Revenues +5% in 3Q13, maintaining leading position
Distribution of 6 of the Top 10 box office hits movies in Portugal in 3Q13
57.6% market share of cinema distribution gross revenues in 3Q13
ZON OPTIMUS
57.6%
Columbia26.1%
Big Picture 2
12.0%
Others4.3%
Good operating results in 3Q13
17
3Q13 RESULTS PRESENTATION
Increased distribution network, present in most of the largest Angolan provinces, the largest network of
distribution agents and door-to-door sales people
Benfica TV launched in 3Q13
ZAP continues to perform very well
3Q13 FINANCIAL REVIEW
18
3Q13 RESULTS PRESENTATION
Pro-forma Financial Statements
3Q13 RESULTS PRESENTATION
19
Merger completed 27 August, statutory accounts include just 1 month Optimus and restatement of changes to accounting policies:
De-consolidation of JVs in anticipation of IFRS 11 in 1Q14
Sport TV (50%), Dreamia (50%), ZAP (30%)
EBITDA impact of -40.9 million euros in 9M12 and -40.6 million euros in 9M13
Capitalization of ZON SACs to align with OPTIMUS’ practice, also followed by other telecom operators
EBITDA impact of +16.1 million euros in 9M12 and +13.6 million euros in 9M13
Capitalization of certain movie rights in ZON Audiovisuals division following IAS 38
EBITDA impact of +17.8 million euros in 9M12 and +19.4 million euros in 9M13
Pro-forma accounts recognize 9 month consolidation of Optimus
Total Revenues
Consolidated Operating Revenues
[Millions of Euros]
20
3Q13 RESULTS PRESENTATION
Resilient consolidated revenue performance yoy: -2.1% in 3Q13
(2.1)%
373.7 365.8
3Q12 3Q13
Consolidated Operating Revenues Including 30%
ZAP Contribution [Millions of Euros]
382.4 377.3
3Q12 3Q13
(1.3)%
180.2 177.3
3Q12 3Q13
548.7 538.0
9M12 9M13
ZON Telco revenues:
ZON Telco Revenues
[Millions of Euros]
21
3Q13 RESULTS PRESENTATION
1.6% yoy decline of ZON Telco Revenues in 3Q13 - increased penetration of IRIS and gradual improvement in
Premium channel revenue trends throughout the quarter Increased promotional and retention activity in response to aggressive pricing campaign from a competitor
(1.6)% (1.9)%
-2.6%
-0.6%
-15.2%
0.80
0.85
0.90
0.95
1.00
1.05
3Q12 4Q12 1Q13 2Q13 3Q13
Total Basic Premium
86% 88%
14% 12%
3Q12 3Q13
Basic Revenues Premium Revenues
ZON ARPU revenue
ARPU Revenue Growth
[3Q12 = Base 1]
ARPU Revenue split
[%]
22
3Q13 RESULTS PRESENTATION
Premium ARPU revenues posted a yoy decline of 15.2% in 3Q13, however monthly premium ARPU revenues started to improve with the increase in the average number of premium channel subscriptions throughout the quarter
Basic ARPU revenues show great resilience to the challenging macroeconomic backdrop, declining only 0.6% yoy in 3Q13, supported by the price increase in 1Q13, by the resilience of the subscription of core services and by the growing penetration of IRIS customers
175.4 172.7
3Q12 3Q13
522.0504.9
9M12 9M13
OPTIMUS Telco Revenues
OPTIMUS Telco Revenues
[Millions of Euros]
23
3Q13 RESULTS PRESENTATION
(1.6)% (3.3)%
OPTIMUS Revenues declined by 1.6% to 172.7 million euros in 3Q13, again showing a sequential improvement
in the rate of decline (-1.7% in 2Q13 and -6.6% in 1Q13) Service revenues decreased by 2% in 3Q13, due to a yoy 8.8% drop in customer revenues due to the still
challenging macro environment, which was partially offset by an increase in operator revenues thanks to the seasonal boost in roaming during the summer
(2.5)%
16.2 15.8
3Q12 3Q13
13.3 14.0
3Q12 3Q13
+5.0%
Audiovisuals and Cinema Revenues
Cinema Revenues
[Millions of Euros]
Audiovisuals Revenues
[Millions of Euros]
24
3Q13 RESULTS PRESENTATION
Performance ahead of the market, despite challenging environment
Cinema Exhibition revenues declined 2.5% yoy in 3Q13 to 15.8 million euros, due to the 3.3% decrease in the average revenue per ticket sold, despite an improvement in the number of tickets sold
Audiovisuals revenues posted a good performance, with a 5% yoy increase in 3Q13
Cost focus
Consolidated Operating Costs
[Millions of Euros]
25
3Q13 RESULTS PRESENTATION
Group-wide efforts to contain and adjust the cost structure to the challenging environment are delivering results
OPEX fell by 2.5% to 225.9 million euros in 3Q13 with important savings being achieved in practically all relevant cost lines
231.7225.9
3Q12 3Q13
(2.5)%
701.4 665.6
9M12 9M13
(5.1)%
25.0 24.5
3Q12 3Q13
104.0 110.6
3Q12 3Q13
+6.4%
29.9 24.0
3Q12 3Q13
(19.9)%
72.7 66.8
3Q12 3Q13
(8.1)%
(2.1)%
Cost focus
Operating Costs
[Millions of Euros]
26
3Q13 RESULTS PRESENTATION
W&S Direct Costs Commercial Costs Other Op. Costs
Operating Costs
(millions of euros) 3Q13 Δ % Drivers
Other Operating Costs 66.8 (8.1%)8.1% reduction with continued strong cost discipline driving savings in areas such as support services, maintenance and repairs and
other SGA
110.6 6.4%
2.1% yoy decrease mainly due to lower average level of headcount at the telco division in comparison with 3Q12. Where possible
ZON OPTIMUS has made efforts to accommodate normal staff attrition levels and this average reduction in salary costs yoy does
not yet reflect any material impact of ongoing restructuring measures post-merger
6.4% increase mainly due to increased traffic costs led by the higher yoy MVNO customer base at ZON, a higher level of traffic
related costs from mass-calling services and an increase in wholesale activity in 3Q13
Commercial Costs 24.0 (19.9%)19.9% decrease mainly led by an effort to contain marketing related costs and by a seasonal decline in handset equipment sales
which is common in the summer months
W&S 24.5 (2.1%)
Direct Costs
EBITDA
Group EBITDA
[Millions of Euros]
27
3Q13 RESULTS PRESENTATION
Group EBITDA
[Millions of Euros]
EBITDA Margins
[%]
The Group EBITDA margin grew by 0.2pp yoy to 38.3% in 3Q13
Including the contribution from the 30% stake in ZAP, Consolidated EBITDA would have posted a marginal decline of 0.1% in 3Q13
EBITDA from the Audiovisuals and Cinema divisions grew by 6.9% to 10.5 million euros in 3Q13
* Adjusted for 2.9 million euros one-off provision in 1Q13, and following the capitalization of certain movie rights.
142.1 139.9
38.0% 38.3%
30%
31%
32%
33%
34%
35%
36%
37%
38%
39%
40%
30
50
70
90
110
130
150
3Q12 3Q13
(1.5)%
413.5 418.3
37.1%
38.6%
30%
31%
32%
33%
34%
35%
36%
37%
38%
39%
40%
30
80
130
180
230
280
330
380
430
9M12 9M13
+1.2%
36.5%
38.3%
35.3%
37.3%
40.1%
39.0%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
Group Telco Aud + Cin *
34.6
18.4
3Q12 3Q13
92.7
76.5
9M12 9M13
Net Income Net Income
[Millions of Euros]
28
3Q13 RESULTS PRESENTATION
(46.8)% (17.5)%
(millions of euros) 3Q13 Δ % Drivers
Income Taxes (12.5) n.a.
12.5 million euros in 3Q13 compared with a charge of 5.7 million euros in 3Q12, due primarily to (i) a reduction in EBT of 85.0% to 6.1
million euros; (ii) recognition of incremental deferred tax assets generated by application of state tax surcharge and (iii) recognition of
deferred tax assets on investment related tax benefits. The last two impacts are non recurrent
Net Financial Expenses 17.6 10.3%
Net Financial Expenses 10.3% higher in 3Q13 at 17.6 million euros compared 3Q12, although flat in comparison with 2Q13. The yoy
increase is a result of a progressively higher average cost of interest as some older and less expensive financing lines matured and
with the entrance of the new retail bonds issued in June 2012. This effect is partially compensated by the lower average level of
consolidated debt
Other Expenses 32.8 n.a.Merger-related restructuring costs of around 16 million euros in 3Q13, reflect the first payments and provisions for curtailment costs.
Other costs related with one-off non-cash items resulting from alignment of accounting practices between ZON and OPTIMUS
Yoy decline of 2.4% to 83.5 million eurosD&A 83.5 (2.4)%
CAPEX decline in 3Q13
Total CAPEX
[Millions of Euros]
Telco CAPEX, Telco CAPEX / Telco Revenues
[Millions of Euros, %]
29
3Q13 RESULTS PRESENTATION
Lower Telco CAPEX mainly due to lower LTE deployment in comparison with previous years, with Telco CAPEX / Telco Revenues of 15.3% in 3Q13
Total CAPEX declined by 21.0% in 3Q13 to 61.6 million euros representing 16.8% of Total Operating Revenues
194.9
162.4
18.3%15.7%
00%
05%
10%
15%
20%
25%
30%
00
50
100
150
200
250
9M12 9M13
(16.7)%
69.653.2
8.3
6.91.5
77.9
61.6
3Q12 3Q13
Telecoms Audiovisuals and Cinema Non-Recurrent CAPEX
(21.0)%
64.1
47.2
79.4 74.7 79.8
3Q12 4Q12 1Q13 2Q13 3Q13
33.9
44.4
23.3 23.1
46.1
3Q12 4Q12 1Q13 2Q13 3Q13
Recurrent FCF
EBITDA – Recurrent CAPEX
[Millions of Euros]
Recurrent Free Cash Flow
[Millions of Euros]
30
3Q13 RESULTS PRESENTATION
Strong performance in EBITDA-Recurrent CAPEX led by the resilient level of EBITDA and the 21.0% decline in CAPEX in 3Q13. Recurrent Free Cash Flow generation of 46.1 million euros, up 36.0%yoy in 3Q13
Non-recurrent cash items in 9M13 include payment of part of remaining LTE license instalments (6 million euros), CAPEX for MPEG4 migration of DTH set-top boxes and some cash payments from ongoing restructuring process (3Q13).
+24.4% +36.0%
Solid Capital Structure, deleveraging to 1.7x Net Financial Debt / EBITDA
Change in Net Financial Debt
[Millions of Euros]
31
3Q13 RESULTS PRESENTATION
Net Financial Debt of 957.2 million euros at the end of 3Q13
Funded until 1H15
Net Financial Debt / EBITDA of 1.7x
Average cost of debt of 5.15% end 3Q13. Pro-forma cost of debt in 9M13 5.61%
1.9 years average maturity
957.2
6.2
7.5
15.9
6.7
4.9
79.8
995.8
3Q13
Other Items
Income Taxes Paid
Net Interest Paid
Long Term Contracts
Non-Cash Items andWorking Capital
EBITDA-RecurrentCAPEX
2Q13
Wrap-up
32
3Q13 RESULTS PRESENTATION
Solid operational and financial performance in 3Q13
Integration process well underway
Strong platform for growth across all market segments
Continued focus on efficiency and cost control
Consolidation of leading position in convergent domestic market
Appendix Financial Highlights
Operational Highlights
33
3Q13 RESULTS PRESENTATION
Financial Highlights
34
3Q13 RESULTS PRESENTATION
(Millions of Euros) 3Q12 3Q13 ∆ y.o.y. 9M12 9M13 ∆ y.o.y.
Operating Revenues 373.7 365.8 (2.1%) 1,114.9 1,083.9 (2.8%)
Telco 353.6 347.0 (1.9%) 1,064.3 1,034.7 (2.8%)
ZON Telco 180.2 177.3 (1.6%) 548.7 538.0 (1.9%)
OPTIMUS 175.4 172.7 (1.6%) 522.0 504.9 (3.3%)
Audiovisuals 13.3 14.0 5.0% 43.2 43.3 0.1%
Cinema Exhibition 16.2 15.8 (2.5%) 39.9 39.6 (0.5%)
Other (11.3) (13.9) 22.1% (38.9) (41.9) 7.9%
EBITDA 142.1 139.9 (1.5%) 413.5 418.3 1.2%
EBITDA Margin 38.0% 38.3% 0.2pp 37.1% 38.6% 1.5pp
Telco 132.2 129.4 (2.1%) 385.3 392.0 1.7%
EBITDA Margin 37.4% 37.3% (0.1)pp 36.2% 37.9% 1.7pp
Cinema and Audiovisuals 9.8 10.5 6.9% 28.1 26.3 (6.6%)
EBITDA Margin 38.1% 39.0% 0.9pp 37.5% 35.1% (2.4)pp
Income from Operations 56.5 56.5 (0.1%) 159.0 165.7 4.2%
Net Income 34.6 18.4 (46.8%) 92.7 76.5 (17.5%)
CAPEX (77.9) (61.6) (21.0%) (216.5) (188.8) (12.8%)
EBITDA minus Recurrent CAPEX 64.1 79.8 24.4% 197.0 234.0 18.8%
Net Financial Debt 980.2 957.2 (2.3%) 980.2 957.2 (2.3%)
CAPEX as % of Revenues 20.8% 16.8% (4.0)pp 19.4% 17.4% (2.0)pp
Net Financial Debt / EBITDA [x] 1.8x 1.7x n.a. 1.8x 1.7x n.a.
Operational Highlights
35
3Q13 RESULTS PRESENTATION
3Q12 3Q13 ∆ y.o.y. 9M12 9M13 ∆ y.o.y.
Homes Passed 3,224 3,286 1.9% 3,224 3,286 1.9%
RGUs 3,439 3,486 1.4% 3,439 3,486 1.4%
Triple Play Customers 752 792 5.4% 752 792 5.4%
Basic Subscribers 1,574 1,523 (3.3%) 1,574 1,523 (3.3%)
IRIS Subscribers 193 390 102.2% 193 390 102.2%
Fixed Broadband 766 812 5.9% 766 812 5.9%
Fixed Voice 960 995 3.7% 960 995 3.7%
Mobile 138 156 13.1% 138 156 13.1%
Blended ARPU (€) 34.7 34.9 0.5% 35.1 35.0 (0.2%)
Customers (EOP) 3,566 3,443 (3.5%) 3,566 3,443 (3.5%)
Pre-Paid Customers 2,367 2,316 (2.2%) 2,367 2,316 (2.2%)
Post-Paid Customers 1,199 1,127 (6.0%) 1,199 1,127 (6.0%)
Data as % of Service Revenues 33.5% 33.8% 0.4pp 33.3% 33.5% 0.1pp
Non SMS Data as % Data Revenues 76.3% 79.7% 3.4pp 76.4% 79.5% 3.1pp
Total #SMS/month/user 41.9 39.7 (5.3%) 41.5 39.3 (5.1%)
MOU (min.) 122.6 124.1 1.3% 122.7 122.6 (0.1%)
ARPU (€) 11.7 10.8 (7.7%) 11.6 10.6 (8.2%)
ARPM (€) 0.0951 0.0866 (8.9%) 0.0945 0.0868 (8.1%)
Total Accesses (EOP) 345 338 (1.9%) 345 338 (1.9%)
Corporates and SMEs 157 159 1.4% 157 159 1.4%
PTSN/RDIS 113 115 1.5% 113 115 1.5%
Broadband 32 30 (5.5%) 32 30 (5.5%)
Other & Data 12 14 17.6% 12 14 17.6%
Residential 188 179 (4.7%) 188 179 (4.7%)
PTSN/RDIS 79 67 (15.7%) 79 67 (15.7%)
Broadband 71 75 5.9% 71 75 5.9%
TV 37 37 (1.3%) 37 37 (1.3%)
ARPU per access - Retail (€) 20.9 20.5 (2.1%) 21.8 21.2 (2.9%)
Revenues per ticket (€) 4.9 4.7 (3.3%) 4.9 4.7 (3.8%)
Tickets sold ('000) 2,383 2,413 1.3% 5,822 5,956 2.3% Cin
ema
Exh
ibit
ion
Z
ON
O
PT
IMU
S W
ireline
OP
TIM
US
Mob
ile
Contacts
36
3Q13 RESULTS PRESENTATION
José Pedro Pereira da Costa CFO Maria João Carrapato Head of Investor Relations [email protected] ZON OPTIMUS Rua Ator António Silva, 9 1600-404 Lisboa, Portugal Tel.: +351 21 782 47 25 Fax: +351 21 782 47 35