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TOM.COM LIMITED Y2001 Results Review 15th March 2002 Hong Kong.

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Presentation on theme: "TOM.COM LIMITED Y2001 Results Review 15th March 2002 Hong Kong."— Presentation transcript:

1 TOM.COM LIMITED Y2001 Results Review 15th March 2002 Hong Kong

2 2 Review of the Year  Sevenfold increase in revenue over 2000  2002 Revenue derived from same asset base can potentially double  On track to achieve cash flow breakeven  Eliminated 100% online premium through conservative accounting approach

3 3 Part I: Financial Analysis

4 4 Financial Highlights – 2001 vs * Exclude one time reorganisation costs, impairment of goodwill and fixed assets

5 Revenue Q-o-Q Growth * TOMNET revenue flat due to ongoing utilisation of residual value, expected to continue throughout 2002 Q1.

6 Revenue Above Market Expectation of HK$612M Online 1.6x revenue increase: Success of “access portal” strategy Offline 13x revenue increase: Broadened revenue base

7 Q4 vs Q4: 3x Revenue Increase, 48% EBITDA Improvement 48% improvement 3x increase * Exceptional year-end corporate expenses * RevenueEBITDA

8 Operating Loss In Line With Estimates of HK$227M 40% improvement Sevenfold increase in revenue, but OPEX * decreased by 2% – a leaner cost structure in place to support a larger revenue base 2000 OPEX: HK$497M 2001 OPEX: HK$487M * Include depreciation and amortisation but exclude cost of sales

9 9 HK$281M provision Eliminated 100% Goodwill Arising from Online Acquisitions Acquired Metro website & operations with initial shareholders’ equity Resulting goodwill capitalised as asset on balance sheet & subject to amortisation Issued new shares at HK$5.51 to acquire online assets Resulting goodwill set off against share premium Transfer goodwill previously set off against share premium to P&L account Write off capitalised goodwill to P&L account HK$829M provision (PYA)

10 10 Part II: Management Discussion

11 11 OUTDOOR: Building the Largest Outdoor Media Network in Mainland China Focusing on Billboards & Unipoles  Diversified outdoor media assets: billboards, unipoles, street furniture, transport advertising  Presence in 13 major cities throughout Mainland China  134,000 sq. m. of advertising space  Over 9,000 outdoor media units  77% average occupancy rate  EBITDA margin: over 50% Outdoor Media Mix Based on the area coverage of the outdoor media assets

12 12 PRINT: Consolidated Taiwan Print Media Market  No. 1 publishing group in Taiwan – to be No. 1 in Greater China  Readership reach of 56 million 40% TOM’s share of Taiwan’s consumer magazine market 33% TOM’s share of Taiwan’s book market 40 magazine titles covering IT, business, finance, lifestyle, health, teenage 31 million annual circulation 8,000 book titles 10 million copies published in ,200 new titles in 2001 MagazinesBooks

13 13 ONLINE / TELECOM VAS: Successful “Access Portal” Positioning  One of the top portals in China in 1.5 years’ time  80 million daily pageviews: 70% y-o-y growth  15 million online registered user base: 20% y-o-y growth  Fastest growth of fee-paying users among top portals Advertising  One of the top 5 portals in China in terms of advertiser base  No. of advertisers increased by 70% to over 300 Subscription  Online games “Gleam of Peace( 和平的曙光 )” & “Xia Ke Xing ( 俠客行 )”  Led the market towards a fee-paying culture Personal Services  60,000 mobile pay users (4 months)  900,000 TOMNET cards sold (6 months)  150,000 active TOMNET users  200,000 SMS messages daily  350,000 registered SMS users Corporate Services  ECLink: B2B services to over 200 businesses  Outsourcing solutions

14 14 SPORTS: The No.1 Sports Marketing Company in China  Sustained Q-o-Q revenue growth despite withdrawing exclusivity to CBA basketball rights after September 11  Launched “Nokia Sports Daily News” in June 2001 – syndicated to 31 TV stations nationwide  Exclusive advertising rights to the Official Guide to World Cup 2002 (China edition) Circulation expected to reach 800,000 ~40% CQGR

15 15 Consolidation, Rationalisation & Integration Discipline ONLINE  Online companies acquired in 2000 were fully integrated with TOM’s internally developed businesses – achieved one of the most competitive cost structures PRINT  Initial rationalisation and integration of PC Home and Cite completed – delivered initial 10% point margin improvement  Further integration of Sharp Point and Business Weekly in 2002 expected to further enhance performance OUTDOOR  Further consolidation to continue in 2002 to extend reach beyond the current 13 cities  Continued integration and rationalisation to focus on enforcing financial control discipline and centralising inventory and sales

16 16 Significant Organic Growth Potential in 2002, Additional Acquisitions to Come Telecom VAS Internet Access Wireless VAS Media & Entertainment Virtual Network Operator Music & Entertainment OnlineSports PrintOutdoor 2001 Revenue: 627M 2002 Revenue Upside on the same asset base * First-time contribution: Fench MediaJan 1 Maya CulturalApr 1 Perfect TeamNov 1 Yazhou ZhoukanMar 1 PC Home / CiteOct 1 Sharp PointNov 21 Full-year contribution from companies consolidated in 2001 First-time contribution from Business Weekly, Chunyu, Qilu, Tianming, Yanhuang Online assets Sports assets First-time contribution * Online & sports organic growth Revenue likely to more than double organically

17 TOM.COM LIMITED Y2001 Results Review 15th March 2002 Hong Kong

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