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The Egyptian Company for Mobile Services (Mobinil)

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The Egyptian Company for Mobile Services (Mobinil) The Egyptian Company for Mobile Services (Mobinil) One on One - EFG Hermes conference London and New York November 2010 Disclaimer This presentation contains “forward-looking statements” about Mobinil. Such statements are not actual facts and include expressions about management’s opinions on the results of its strategies and management’s expectations about new and existing programs, opportunities, technology and market conditions. Although Mobinil believes its expectations are based on reasonable assumptions, these forward looking statements are subject to numerous risks and uncertainties. These statements should not be regarded as a representation that anticipated events will occur or that expected objectives will be achieved. Important factors that could cause actual results or performance to differ materially from the results anticipated in The forward-looking statements include, among other things, the success of the announced plans and the, Mobinil’s other strategic, financial and operating initiatives, changes in economic, business and competitive market, risks and uncertainties attendant upon International operations, technological trends, exchange rate fluctuations and market regulatory factors. The forward-looking statements in this presentation speak only as of the date hereof and Mobinil does not undertake to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This presentation does not constitute an offer or invitation to purchase any shares or other securities in the company and neither it nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. Any decision to purchase shares or other securities in the Company is the sole responsibility of the investors who shall be responsible for his own due diligence.” ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 2 Agenda 1. Economy and Market Overview 2. Mobinil Overview 3. Competitive Environment 4. Regulatory Environment 5. Operational Highlights 6. LINKdotNET Acquisition 7. Q & A ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 3 Economy and Market Overview ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 4 One of the largest markets in the world Largest in Middle East (above Iran & 79M Population (in Egypt) Turkey) (2010 est.) 2nd largest in Africa, after Nigeria 16th largest in the world Greater Cairo, the capital, and its 43% urban; Population distribution outlying suburbs are home to nearly 57% rural 20% of total population 33% under 15 years old 58% Population < 25 years of age Median age only 24 71.4% Adult literacy rate (%age 15+) Basic level reading and writing 2X size of France 997,739 Area (km2) 4X size of UK 97% of inhabitants live on Only 35,000 square kilometers is Inhabited Area 3.5% of land area cultivated and permanently settled Sources: Central Agency for Public Mobilization and Statistics, IMF Avg Ex rate: 1USD = 5.5EGP ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 5 Country Overview Large market, strong economy (1/2) 2008 2009 2010 2011 2012 2013 2014 2015 Population 76 78 79 80 82 84 86 87 GDP % (constant prices) 7.2 4.7 5.0 5.5 5.7 5.9 6.2 6.5 Inflation % (avg consumer prices) 11.7 16.2 12.0 9.5 8.5 7.5 7.0 6.5 Inflation % (end of period consumer 20.2 10.0 10.0 9.0 8.0 7.0 7.0 6.0 prices) Gross domestic product per capita, 6,993 7,115 7,325 7,578 7,856 8,156 8,492 8,867 constant prices EGP Gross domestic product per capita (PPP) 5,897 6,123 6,347 6,662 7,029 7,436 7,890 8,396 per capita USD *Egyptian Fiscal year: July 1 to June 30 **Sources: IMF World Economic Outlook, Apr-2010 • Economy is more diversified than neighbors-strong financial sector, tourism, agriculture and industry. • Per capita GDP is below the global average but ahead of India & is rising. • Driven mainly by strong domestic demand, the Egyptian economy is growing & has rebounded from the global financial crisis. • 4.7% in the year ending Jun-2009. • 5.8% in Q1-10, the fastest rate seen in almost two years, according to Economic Development Minister and ICT grew 11.6%. (Bloomberg, May 10, 2010) ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 6 Country Overview Large market, strong economy (2/2) • Prime Minister predicts growth of a least 6 percent in new fiscal year through June, helped by tourism and foreign investment (Business Week, September 23rd 2010) • Substantial Shadow (grey) economy estimated at between 40-69% of GDP • Strong political institutions and regulatory frameworks • Government has been implementing a business and structural reform program since 2004 • Government is running a high budget deficit –expected to be 7.9% in the fiscal year that ends June 2011, down from the 8.2% of GDP in 2009/10 (July-June) • Cutting state subsidies, which could help balance the budget, remains a highly sensitive political issue • Headline inflation remains high – could dampen consumer activity • Inflation peaked at 28% in 2008 due to global financial crisis and volatility in commodity prices, but has dropped -hovering around 10-12% since that time • Egypt remains exposed due to high cost of food imports –world’s largest importer of Wheat • Official unemployment figures remain high – averaging 9.6% during 2009 • Official poverty levels remain high: 22% of Egyptians live below official poverty line • Significant income divisions could contribute to rising social unrest • Regional instability could negatively impact local economy and investment (Palestine, Iran & Iraq) *Egyptian Fiscal year: July 1 to June 30 ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 7 Mobile Market Maturing Spectacular growth rates are behind us 100 73% 71% 70% 75 55% 41% 45% 38% 50 40% 30% 33% Subscribers (M) Subscribers Growth % Growth 25% 20% 25 14% 9% 7% 6% 5% 3% 2 3 4 6 8 13 18 31 43 61 69 75 81 86 90 93 0 -5% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010E 2011E 2012E 2013E 2014E 2015E Source: Mobinil Management estimates ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 8 Future Competitive Landscape • Regulator maintains strong role in controlling market development – through issuing of new licenses control of spectrum allocation, operator dispute resolution, product approvals and dial range allocation • Per minute price less of differentiator than currently: – Bundled offers – Buckets – Flat rate pricing • New telco entrants encroaching on traditional MNO space: including VOIP providers, OEMs, new licensees • Competition arena expands to include all Telco players: PSTN, mobile, internet, OEMs, content providers (incl. TV & satellite) • Increasing consolidation & cooperation as well as more aggressive competition over subscribers ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 9 Mobinil Overview ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 10 In Our Vision Lies Our Mission Our Mission Our Vision To maintain our position as the leading mobile service To be part of people’s daily provider in Egypt, providing lives by providing reliable and the best quality of service for simple services that help our customers, the best people interact and working environment for our communicate better. employees, top value for our shareholders and proudly contributing to the development of our community. ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 11 Pillars of Mobinil’s Strategy Sustain future growth by Invest on Acquire maximum expanding in new gathering & structuring Market Share territories and new the information profitably industries Maintain competitive Apply a segmented advantage of being the approach in everything we Enhance operator of choice for all do to meet dynamic market Quality and Standards Egyptians – Customer needs – Customer Centric intimacy Improve efficiency to Subscriber Base Belong proudly to Mobinil become more agile management ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 12 Strategic Challenges Successfully handling LINK Maintaining Market integration to exploit Leadership in Maturing Broadband & Data Mobile Market Opportunities Responding Intelligently to Intensifying Competition Securing Healthy Revenue Effectively Managing growth and Sustaining Regulatory Relationships Profitability ©The Egyptian Company for Mobile Services (Mobinil) │ One on One - EFG Hermes conference │ November 2010 │ Page 13 The Strategy Forward Focus to consolidate and capitalize on the position being the preferred operator, and enhance our network and technology High end and Low end Customer Intimacy Investment Investment Operational Excellence Choice Choice • Deeper understanding of • Aligning costs to value customer needs • Continuously improve quality, • Maintain the emotional bond efficiency and reliability of and relationship with customers operational processes Investment • Service adaptability • Service excellence Choice Driver of quantitative
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