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AW AR Dtac Eng P1-44.Indd contents financial management discussion 002 041 milestones 091 highlights and analysis report of the board of corporate information 012 045 risk and mitigation 097 directors’ responsibility and references for the financial reports message from the 014 054 management 098 audit committee’s report Chairman and CEO report of independent 016 board of directors 067 corporate governance 100 auditor executive interested & connected 022 077 102 financial statements management person transactions notes to consolidated 028 group structure 086 shareholder structure 111 financial statements business performance 032 088 dividend policy 160 glossary and outlook corporate social 038 responsibility 002 annual report 2012 financial highlights Total Access Communication PLC. financial highlights Number Total Revenues EBITDA of Subscribers (THB billion) (THB billion) (in million) 89.5 25.3 11.3 2.8 79.2 27.3 23.2 6.0 22.5 26.8 2.4 89.5 72.3 78.2 26.8 25.3 21.6 3.6 20.8 73.2 25.7 2.3 67.7 65.7 19.7 19.3 68.7 1.1 1.0 23.2 2.3 18.7 66.6 64.7 20.2 17.4 2.5 16.2 2008 2009 2010 2011 2012 20082009201020112012 2008 2009 2010 2011 2012 Postpaid Subscribers Sales from Handsets and Others Prepaid Subscribers Service Revenues Net Profi t Operating Cash Flow Note: (THB billion) (THB billion) - In 2008, there was one time gain from DPC 21.5 21.5 settlement case of THB 1.8 billion. - In 2010, there was retroactive net IC gain 11.311.8 17.5 17.5 from CAT/Hutch and gain from disposal of Chai 11.3 Building. 14.3 10.9 - Since September 2011, the revenue sharing 11.9 9.3 10.4 rate has been changed from 25% to 30%. 7.5 6.6 20082009201020112012 2008 2009 2010 2011 2012 Net proflt incl. one-time transactions Net profit excl. one-time transactions annual report 2012 003 Total Access Communication PLC. financial highlights Total Access Communication Plc., operating under “dtac” brand, is one of the largest wireless communication service providers in Thailand. The Company was founded in August 1989 to provide wireless telecommunication services in 800 MHz and 1800 MHz frequency bands in Thailand under a 27-year Build-Transfer-Operate (BTO) concession granted by CAT Telecom Public Company Limited (formerly known as Communications Authority of Thailand, “CAT”). In December 2012, DTAC Network Company Limited, a wholly-owned subsidiary of dtac, was granted the 15-year spectrum license for International Mobile Telecommunications (IMT) in the frequency band 2.1 GHz and license type III for providing wireless communication services from the National Broadcasting and Telecommunications Commission (“NBTC”). 2008 2009 2010 2011 2012 Operating Results (in THB million) Service Revenues 66,600 64,684 68,749 73,188 78,235 Total Revenues 67,695 65,685 72,317 79,199 89,497 EBITDA 23,193 20,215 25,685 27,296 26,809 Operating Profit 1 1 ,483 9,973 14,786 16,663 15,154 Net Profit 9,325 6,614 10,885 11,812 11,276 Operating Cash Flow * 1 1 ,911 14,262 21,512 21,463 17,473 Balance Sheet (in THB million) Total Assets 104,435 100,530 99,313 103,847 101,018 Total Liabilities 44,944 37,982 30,435 68,959 66,074 Total Shareholders’ Equity 59,491 62,548 68,878 34,888 34,944 Ratio EBITDA Margin 34.0% 30.6% 35.1% 34.4% 29.9% Operating Profit Margin 17.0% 15.2% 20.4% 21.0% 16.9% Net Debt : EBITDA 0.9 0.6 - - 1.0 Net Debt : Equity 0.4 0.2 - - 0.8 Shares No. of Shares (million) 2,368 2,368 2,368 2,368 2,368 Earnings per Share (THB) 3.94 2.80 4.60 4.99 4.76 Book Value per Share (THB) 25.12 26.42 29.09 14.73 14.76 Share Price** SET (THB / Share) 32.00 35.75 42.00 69.75 88.25 SGX (USD / Share) 0.88 1.07 1.42 1.97 2.80 * defined as EBITDA – CAPEX ** as of December 30 or the last trading day of each year Note: dtac paid out special dividend for capital restructuring in December 2011. 004 annual report 2012 Total Access Communication PLC. 24-hour online unlimited connectivity 0801234567 like every minute always accessible Better Choice annual report 2012 005 Total Access Communication PLC. Better Life Better Choice with rising demand for mobile Internet, we are committed to providing the best customer experience to fulfill our customers’ needs with our best efforts. 006 annual report 2012 Total Access Communication PLC. always connected 3G Better Connection annual report 2012 007 Total Access Communication PLC. Better Life Better Connection we progressively modernize our networks affirming our readiness to embark on future technologies and to better align ourselves with changing customers’ lifestyle of continuous connectivity. 008 annual report 2012 Total Access Communication PLC. news update world connect stocks Real-time LIFESTYLE INDEX UPDATE life network WiFi 3G Better Performance annual report 2012 009 Total Access Communication PLC. Better Life Better Performance as mobile Internet becoming faster and faster every minute, it would be even greater if we can access it anywhere anytime. dtac commits to continuously enhance our networks and services to become the most preferred mobile operator in Thailand. 010 annual report 2012 Total Access Communication PLC. teamwork strong leadership organization happiness Better Teamwork annual report 2012 011 Total Access Communication PLC. Better Life Better Teamwork we have excellent networks and services because of our excellent personnel. dtac has gone through an organizational transformation and extensive employee development programs to enable us to best serve our customers. 012 annual report 2012 corporate information and references Total Access Communication PLC. corporate information and references Corporate Information Name Total Access Communication Public Company Limited Initial dtac Registered Number 107538000037 Type of Business operates mobile business on 800 MHz, 1800 MHz, and 2.1 GHz frequency bands Registered Capital THB 4,744,161,260 (2,372,080,630 ordinary shares of THB 2.00 per share) Paid-up Capital THB 4,735,622,000 (2,367,811,000 ordinary shares of THB 2.00 per share) Location 319 Chamchuri Square Building, 22nd-41st Floors, Phayathai Road, Pathumwan, Bangkok 10330 Tel: (66 2) 202 8000 Fax: (66 2) 202 8929 Website: www.dtac.co.th annual report 2012 013 Total Access Communication PLC. corporate information and references References Share Registrar Thailand Securities Depository Company Limited 62 the Stock Exchange of Thailand Building, Ratchadapisek Road, Klongtoey, Bangkok 10110, Thailand Tel: (66 2) 229 2800 Fax: (66 2) 654 5427 Call Center: (66 2) 229 2888 Website: www.tsd.co.th Boardroom Limited 50 Raffles Place #32-01 Singapore Land Tower Singapore 048623 Tel: (65) 6536 5355 Auditor Ms. Gingkarn Atsawarangsalit Certified Public Accountant (Thailand) No.4496 Ernst & Young Office Limited 33rd Floor, Lake Rajada Office Complex, 193/136-137 New Ratchadapisek Road, Klongtoey, Bangkok 10110 Tel: (66 2) 264 0777 Fax: (66 2) 264 0789-90 Website: www.ey.com Debenture Registrar Kasikorn Bank Public Company Limited 1 Soi Kasikornthai, Ratburana Road, Ratburana, Ratburana, Bangkok 10140 Tel: (66 2) 470-1994, (66 2) 470-6662 Fax: (66 2) 470-1998 Website: www.kasikornbank.com 014 annual report 2012 message from the Chairman and CEO Total Access Communication PLC. message from the Chairman and CEO Mr. Boonchai Bencharongkul Chairman of the Board of Directors Mr. Jon Eddy Abdullah Director/Chief Executive Officer annual report 2012 015 Total Access Communication PLC. message from the Chairman and CEO Dear Shareholders, Year 2012 was marked as the year of accomplishment for dtac and efficient ways to self-serve themselves online and we intend our subsidiary, DTAC Network, as we were able to secure a 15-year to be in the forefront of this development. license of 15 MHz in the 2.1 GHz frequency band from the National Broadcasting and Telecommunications Commission (“NBTC”). With Also the organization of dtac has over the last year gone through this license, we have secured a continuation of our proud history a big transformation to better enable us to serve our customers as a mobile service provider in Thailand. Our ambition is over the and to compete in the market. Focus for the transformation has next three years to roll out a new network across the nation with been to align the organization with the current business strategy more than 80% population coverage. by for instance introducing a leaner organization structure at management level and the removal of unclear and overlapping “Customer Centricity” is at the core of our philosophy and business responsibilities. The program has been followed by a massive strategy. We believe true Customer Centricity happens through increase in training programs across the organization. For our a deep understanding of our customers’ needs and a relentless leaders, expectations have been increased but also supported by pursuit of delivering up to and above their expectations. In 2012, improved leadership training and coaching. our Customer Centricity strategy was put to a big test. Periods of low network performance and of network interruptions during 2012 As a good corporate citizen we continue to expand our work to led to a serious disappointment amongst our customers over our help and support the Thai society. Our relentless efforts to service level. Through continued and focused work on upgrading support Thai farmers through Rakbankerd were continued in 2012. our 2G network and rolling out 3G 850 MHz network to 77 In addition, we also joined hands with UNICEF Thailand on the Best provinces across the country, we are proud to claim that dtac at Start project to promote the improvement of children’s life quality the end of 2012 is operating the best combined 2G and 3G since their birth as well as to promote the well-being and networks in Thailand which, going forward, will benefit our customers protecting the rights of children in Thailand by using mobile in their daily lives.
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