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It's How We Connect TELSTRA 2012 ANNUAL REPORT IT’S HOW WE CONNECT TELSTRA 2012 ANNUAL REPORT ANNUAL REPORT Key Highlights i Our Performance x Sustainability xviii Results ii Improve Customer Satisfaction x Our Customers xx Our People xxii Chairman and CEO Message iv Retain and Grow Customer xii Numbers Our Communities xxiv Board of Directors vi Simplify the Business xiv Our Environment xxvi Our Business viii Develop New Growth Businesses xvi FULL ANNUAL REPORT 1 Becoming an e-Shareholder Use the following sections to help you locate Communicating With Our Shareholders Telstra encourages shareholders to elect to receive information about your Telstra holding(s): Our online Investor Centre www.telstra.com/ their communications electronically. By providing Holdings – here you can access your investor is an important tool for our shareholders your email address you will receive your dividend transaction history, holding balance, holding where you can access all the latest news, statements, Notice of the Annual General Meeting value and see the last closing share price. information and shareholder communications and Shareholder Updates (including summary faster. If you are an e-shareholder, we ¿QDQFLDOLQIRUPDWLRQ E\HPDLOQRWL¿FDWLRQ7KLV Payment & Tax – here you can access will let you know when there is something is also important if we want to communicate with your dividend payment history, payment important for you to view or download. you at short notice in relation to current issues. instructions and your TFN. Shareholders can update bank details here. Additional Sustainability Reporting Please refer to the Managing my Telstra Selected graphs and data presented in this report Shareholding Online section below for Communication – use this section to are included in our Bigger Picture sustainability instructions on how to do this. become an e-Shareholder. You can update reporting series. This series provides detailed your postal address, email address and information and analysis for our stakeholders Please contact our share registry on communication elections here. 1300 88 66 77 or email on Telstra’s sustainability performance. We [email protected] Annual Report develop our reporting with reference to industry and sustainability standards including the United should you require any further information Telstra’s 2012 Annual Report is available to relating to your shareholding. Nations Global Compact Communication on all shareholders on our Investor Website at Progress, Global Reporting Initiative (GRI) Managing my Telstra Shareholding Online www.telstra.com.au/annualreports. To receive G3 Sustainability Reporting Guidelines and a hardcopy of the statutory Annual Report Telecommunications Sector Supplement (pilot). 1. Go to www.linkmarketservices.com.au/telstra (free of charge) you can call our Share Registry 2. Enter your SRN/HIN (this can be found on The GRI Index and Bigger Picture series can be on 1300 88 66 77 and request the report found online at www.telstra.com.au/sustainability. your latest dividend statement), your post be sent to you. You may also update your code, the security code displayed and read communication election online to receive future and accept the terms and conditions. copies of the Annual Report. Please refer to the Managing my Telstra Shareholding online section for instructions on how to do this. 2012 KEY HIGHLIGHTS NEW MOBILE CUSTOMERS 1.6M IN AUSTRALIA REDUCTION IN CARBON EMISSIONS 36% INTENSITY NBN 28 AGREEMENTS FULLY-FRANKED DIVIDEND PER FINALISED SHARE SOCIAL AND COMMUNITY $240M INVESTMENT OVER 7M 30% CALLS HANDLED GROWTH IN OUT OF HOURS BUNDLED CUSTOMERS i FINANCIAL RESULTS FIVE YEAR SUMMARY 2012 2011 2010 2009 2008 $m $m $m $m $m 6DOHVUHYHQXH 25,232 24,983 24,813 25,371 24,657 EBITDA(1) 10,234 10,151 10,847 10,948 10,416 EBIT(2) 5,822 5,692 6,501 6,558 6,226 3UR¿WDIWHUWD[ 3,424 3,250 3,940 4,076 3,711 'LYLGHQGVGHFODUHGSHUVKDUH FHQWV 28 28 28 28 28 7RWDODVVHWV 39,525 37,913 39,282 39,962 37,922 *URVVGHEW 17,222 16,232 16,031 17,036 16,285 1HWGHEW 13,277 13,595 13,926 15,655 15,385 7RWDOHTXLW\ 11,689 12,292 13,008 12,681 12,245 $FFUXHGFDSLWDOH[SHQGLWXUH 3,591 3,410 3,471 4,598 4,897 )UHHFDVKÀRZ 5,197 5,477 6,225 4,365 3,855 (1) OperatLQJSUR¿WEHIRUHLQWHUHVWGHSUHFLDWLRQDQGDPRUWLVDWLRQDQGLQFRPHWD[H[SHQVH(%,7'$LVXVHGDVDPHDVXUHRI¿QDQFLDOSHUIRUPDQFHE\H[FOXGLQJ FHUWDLQYDULDEOHVWKDWDIIHFWRSHUDWLQJSUR¿WVEXWZKLFKPD\QRWEHGLUHFWO\UHODWHGWRDOO¿QDQFLDODVSHFWVRIWKHRSHUDWLRQVRIWKHFRPSDQ\(%,7'$LVQRWD PHDVXUHRIRSHUDWLQJLQFRPHRSHUDWLQJSHUIRUPDQFHRUOLTXLGLW\XQGHU$,)562WKHUFRPSDQLHVPD\FDOFXODWH(%,7'$LQDGLIIHUHQWPDQQHUWRXV (%,7'$OHVVGHSUHFLDWLRQDQGDPRUWLVDWLRQ SALES PROFIT FOR REVENUE THE YEAR $3.9b $25.0b $25.2b $24.8b $3.4b $3.3b 2010 2011 2012 2010 2011 2012 FREE MOBILE CASHFLOW REVENUE $8.7b $6.2b $7.9b $5.5b $5.2b $7.3b 2010 2011 2012 2010 2011 2012 ii NON-FINANCIAL RESULTS KEY PERFORMANCE INDICATORS OUR CUSTOMERS 2EMHFWLYH 2012 2011 2010 &XVWRPHUVDWLVIDFWLRQ Score 7.2 7.3 6.9 6.8 7,2FRPSODLQWV Level 1 Complaints per month per 10,000 SIOs 1RPRUHWKDQ 1.9 3.1 'LVDELOLW\$FWLRQ3ODQ Percentage of commitments completed 66% 75% OUR PEOPLE (PSOR\HHHQJDJHPHQW Survey score 77% 77% 75% 75% +HDOWKDQGVDIHW\ Lost Time Injury Frequency Rate (LTIFR) 1.5 1.32 1.30 2.32 *HQGHUGLYHUVLW\ Women in executive management 25% 25.0% 22.7% 22.4% 9ROXQWHHULQJGXULQJ7HOVWUDWLPH Number of days 1,500 1,375 3D\UROO*LYLQJ Participation rate 3.0% 2.7% 3.5% OUR COMMUNITY 6RFLDODQGFRPPXQLW\LQYHVWPHQW Total (millions of dollars) Ongoing investment $239.8m $248.0m $262.1m Everyone Connected (targeted programmes) People impacted (VWDEOLVKEDVHOLQH 101,500 OUR ENVIRONMENT &DUERQHPLVVLRQV Tonnes of carbon dioxide equivalent (tCO2e) Minimise our impact 1,676,925 1,659,714 1,687,777 &DUERQHPLVVLRQVLQWHQVLW\ tCO2e per terabyte of data 15% reduction to 1.64 1.24 1.93 HZDVWH 0RELOH0XVWHU Tonnes collected WRQQHVFROOHFWHG 14.3 17.3 18.9 OUR GOAL IS TO BRING THE SOCIAL AND THE ENVIRONMENTAL INTO THE HEART OF THE ORGANISATION IN WAYS THAT CREATE VALUE. iii CHAIRMAN AND CEO MESSAGE WE CONTINUE TO FOCUS 'HDU6KDUHKROGHUV 7KLVIROORZHGRQIURPWKH VKDUHKROGHUYRWHDWRXU :HDUHSOHDVHGWRSUHVHQW\RXZLWK ON THE STRATEGIC $QQXDO*HQHUDO0HHWLQJZKLFK DUHYLHZRI7HOVWUD¶VRSHUDWLRQV PRIORITIES OF ZDVRYHUZKHOPLQJO\LQIDYRXURI DQGVXVWDLQDELOLW\LQLWLDWLYHVRYHU 7HOVWUD¶VSDUWLFLSDWLRQLQWKHUROORXW IMPROVING CUSTOMER WKH¿VFDO\HDU7KLV\HDUZH RIWKH1%17KH1%1$JUHHPHQWV KDYHEURXJKWWRJHWKHURXUDQQXDO SATISFACTION; DUHQRZLQSODFHDQGZHDUH DQGVXVWDLQDELOLW\UHSRUWVEHFDXVH ZRUNLQJFORVHO\ZLWK1%1&RLQ RETAINING AND ZHEHOLHYHWKHVHWZRWRSLFVDUH LPSOHPHQWLQJWKHP7HOVWUDKDV GROWING CUSTOMER LQWHUZRYHQ:HEHOLHYHWKDWDV DOVRODXQFKHGUHWDLODQGZKROHVDOH DEXVLQHVVRXUDELOLW\WRSURVSHU NUMBERS; SIMPLIFYING VHUYLFHVRYHUWKH RYHUWKHORQJHUWHUPKLQJHVRQRXU 1%1IROORZLQJVXFFHVVIXOWULDOV THE BUSINESS AND UHVSRQVHWRWKHFKDQJLQJVRFLDO LQWKHHDUO\UHOHDVHVLWHV DEVELOPING NEW DQGHQYLURQPHQWDOH[SHFWDWLRQVRI GROWTH BUSINESSES. HPSOR\HHVFXVWRPHUVLQYHVWRUV 2012 HIGHLIGHTS UHJXODWRUVDQGWKHZLGHUSXEOLF THESE PRIORITIES ARE 7RWDOUHYHQXHIRUWKH¿VFDO DELIVERING POSITIVE KEY OUTCOMES \HDULQFUHDVHGE\SHUFHQWWR ELOOLRQZKLOHQHWSUR¿WDIWHU ,Q¿VFDO\HDU7HOVWUD RESULTS. WD[LQFUHDVHGE\SHUFHQWWR FRQWLQXHGWRGHOLYHURQLWV ELOOLRQ7KHUHDUHDQXPEHU FRPPLWPHQWVWRVKDUHKROGHUV RIKLJKOLJKWVWKDWFRQWULEXWHG 7HOVWUDDFKLHYHGJURZWKLQVDOHV WRWKLVUHVXOW DQGSUR¿WLQFUHDVHGPDUNHWVKDUH DQGJUHZSUR¿WDELOLW\LQNH\JURZWK :HUHFRUGHGRQHRIRXUEHVW SURGXFWVDQGZDVDEOHWRRIIVHW HYHU\HDUVLQPRELOHV:HDGGHG GHFOLQHVLQOHJDF\SURGXFWVZLWK PLOOLRQGRPHVWLFPRELOH JURZWKLQEXVLQHVVHVVXFKDV FXVWRPHUVDQGPRELOHUHYHQXH PRELOHVDQGQHWZRUNDSSOLFDWLRQV JUHZSHUFHQWWRELOOLRQ and services. :HDUHDOVRFKDQJLQJWKHZD\WKDW 7KLV\HDUZHDOVRDQQRXQFHG ZHLQWHUDFWZLWKRXUFXVWRPHUV DFOHDUIUDPHZRUNIRUFDSLWDO :KLOHWKHUHLVPRUHZRUNWRGRLQ PDQDJHPHQWDQGKRZZHZLOOORRN WKLVDUHDWKHSRVLWLYHUHVSRQVHWR DWWKHXVHRIFDVKDQGVKDUHKROGHU WKHPDQ\QHZFXVWRPHUVHUYLFH UHWXUQVLQWKHIXWXUH7HOVWUDDOVR LQLWLDWLYHVZHKDYHLQWURGXFHG SDLGDIXOO\IUDQNHGWRWDOGLYLGHQG VKRZVZHDUHPDNLQJSURJUHVV RIFHQWVSHUVKDUHIRUWKH :HKDYHFRQWLQXHGWRORRNIRU ¿VFDO\HDUZKLFKUHWXUQHG ZD\VWRLPSURYHDQGVLPSOLI\RXU ELOOLRQWRVKDUHKROGHUV EXVLQHVV,QLWLDWLYHVOLNHRXURQOLQH NATIONAL BROADBAND NETWORK DQGHOHFWURQLFELOOVHUYLFHVDOORZ (NBN) XVWRVDYHFRVWVZKLOHLPSURYLQJ FXVWRPHUVDWLVIDFWLRQ 7KH¿QDOLVDWLRQRIWKH1DWLRQDO %URDGEDQG1HWZRUN$JUHHPHQWV 2XUJURZWKLQLWLDWLYHVRI1HWZRUN ZLWKWKH&RPPRQZHDOWKDQG $SSOLFDWLRQDQG6HUYLFHV 1%1&RZDVDQRWKHUKLJKOLJKW 0HGLDDQG,QWHUQDWLRQDOFRQWLQXH IRUWKH\HDU WREXLOGRQRXUFRUHEXVLQHVV iv SUSTAINABILITY During 2012, through our Access 7HOVWUDH[SHFWVFDSLWDOH[SHQGLWXUH for Everyone programme, to be around 15% of sales over the 7KLV¿VFDO\HDU7HOVWUDHVWDEOLVKHG ZHZRUNHGZLWKRYHU next two years as we plan to invest D&KLHI6XVWDLQDELOLW\2I¿FHWR FRPPXQLW\RUJDQLVDWLRQVDFURVV LQRXUPRELOHQHWZRUNDQGLQWKH VXSSRUWWKHFRPSDQ\LQUHVSRQGLQJ $XVWUDOLDWRGHOLYHUPLOOLRQ GHOLYHU\RILQIUDVWUXFWXUHWR1%1&R WRWKHFRPPXQLW\¶VFKDQJLQJ RISURGXFWVDQGVHUYLFHVWKDW LQRUGHUWREULQJIRUZDUGEHQH¿WV H[SHFWDWLRQV:HDUHSOHDVHGZLWK KHOSGLVDGYDQWDJHG$XVWUDOLDQV IURPWKH1%1DJUHHPHQWV the progress we have made on our UHPDLQFRQQHFWHG:HLQFUHDVHG VXVWDLQDELOLW\DJHQGD2XUDPELWLRQ $VDQQRXQFHGLQ2FWREHU RXU7HOVWUD*URXSHPSOR\HH LVWREULQJVRFLDODQGHQYLURQPHQWDO LWLVWKHFRPSDQ\¶VLQWHQWLRQWR HQJDJHPHQWVFRUHIURP FRQVLGHUDWLRQVLQWRWKHKHDUWRIRXU PDLQWDLQDFHQWIXOO\IUDQNHG SHUFHQWWRSHUFHQW EXVLQHVVLQZD\VWKDWFUHDWHYDOXH GLYLGHQGIRU¿VFDO7KLVLV DQGZHUHGXFHGRXUFDUERQ IRUVKDUHKROGHUVZKLOHEHQH¿WWLQJDOO VXEMHFWWRWKH%RDUG¶VQRUPDO HPLVVLRQVLQWHQVLW\E\SHUFHQW VWDNHKROGHUV DSSURYDOSURFHVVIRUGLYLGHQG OUTLOOK* GHFODUDWLRQDQGWKHUHEHLQJQR 2XU&KLHI6XVWDLQDELOLW\2I¿FHLV
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