controversial valuation, page-19

  1. 4,941 Posts.
    lightbulb Created with Sketch. 147
    Hi jfc,

    SGT's full year operational results were published on 15 July 2003.

    Page 29 of Part 4 of those results provides you with some of the information you were seeking.

    The Optus Business & Whole Division comprised the following revenue streams:
    1)
    BUSINESS = 969, of which:
    -voice = 395
    - data & IP = 323
    - satellite = 161
    - professional services = 90
    2)
    WHOLESALE = 447, of which:
    - voice = 287
    - data & IP = 151
    - other = 9
    3)
    OPERATIONAL EBITDA = 289, of which the EBITDA margin was 20%, vs 17% in 2002.

    Again, detailed breakdown of the operational results by sub-category remains, as you have previously suggested, difficult. Suffice, however, for it to be nosted, but SGT's Optus B&WD result represented a 300 basis point improvement over the equivalent results for 2002.

    So, there you have it.

    In AAPT, the Business & Internet Services Division improved EBITDA margins YoY by 400bp, whilst SGT's Optus Business & Wholesale Division improved its EBITDA margins by 300bp. In achieving this, actual EBITDA for SGT Optus B&WD improved YoY by $56m (~UEC's FY03 revenue forecast), whilst for AAPT B&ISD improved by $25m (~1/2 UEC's FY03 revenue forecast).


 
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