Mais Elevado Service Margin Production Costs Production Margin
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P&L ULL Residencial
ARPU
40.1
38.4
SERVICE COSTS
13.8
14.3
SERVICE MARGIN
26.3 66%
24.1 63%
CONTRIBUTION MG
16.8 42%
13.5 35%
CAPU
2007 ULL AVG
ACQUISITION COSTS
Payback sem CAPEX
288
389
17
29
2007 ULL AVG Churn LT
2008 ULL AVG
2008 ULL AVG
Recurrent
2008 ULL AVG
Setup costs
Setup costs
Recurrent
RECEITAS
2007 ULL AVG
P&L ULL Residencial 2007
LA
LNA
AVG
SERVICE REVENUES
40.1
40.1
40.1
SERVICE COSTS
13.8
13.8
13.8
SERVICE MARGIN
26.3 66%
26.3 66%
26.3 66%
PRODUCTION MARGIN
16.8 42%
16.8 42%
16.8 42%
ACQUISITION COSTS
275
321
288
Payback sem CAPEX (m)
16
19
17
Split de activação
71.00%
29.00%
1.90% 53
1.90% 53
1.9% 53
3.1% 32
Churn LT
WACC
8%
8%
WACC
LTV
456
1
LTV
8%
8%
8%
422 3.84%
455 2.90%
155.0
155.0
26
28
2008: % split de angariação: 10% 4Mb; 35% 12Mb; 55% 24Mb.
CAPEX Payback com CAPEX (m)
5.48%
CAPEX Payback com CAPEX (m)
1.90% 53
468 2.52%
2007: % split de angariação: 40% 12Mb; 60% 24Mb.
0.88
média churn jan-jun08 (dados CRM)
P&L ULL Residencial 2008
P&L ULL Residencial 12 Mb
24 Mb
AVG
25.9
33.6
43.7
38.4
7.8
7.2
9.0
8.2
1.7 16.5
1.7 24.7
1.7 33.0
1.7 = forecast 28.4
12.5
13.0
15.5
14.3
3.5 9.0
4.0 9.0
6.5 9.0
SERVICE MARGIN
13.5 52%
20.6 61%
28.2 65%
24.1 63%
PRODUCTION COSTS
10.0
10.4
10.9
PRODUCTION MARGIN
3.5 13%
10.2 30%
17.3 40%
SERVICE COSTS Interconnection Voice Monthly fee to PT
ACQUISITION COSTS
LA
LNA
AVG
38.4
38.4
38.4
8.2
8.2
8.2
1.7 28.4
1.7 28.4
1.7 28.4
14.3
14.3
14.3
5.3 9.0
5.3 9.0
5.3 9.0
SERVICE MARGIN
24.1 63%
24.1 63%
24.1 63%
10.6
PRODUCTION COSTS
10.6
10.6
10.6
13.5 35%
PRODUCTION MARGIN
13.5 35%
13.4 35%
13.4 35%
371
434
390
92
175
117
273
253
267
5
5
5
28
32
29
70%
30%
2.1% 48 8%
5.4% 19 8%
294
344
435
389
117
117
117
117
ANGARIAÇÃO
171
221
312
266
5
5
5
5
84
34
25
29
10%
35%
55%
LT WACC
3.1% 32 8%
3.1% 32 8%
3.1% 32 8%
LTV
-193
-47
66
Payback sem CAPEX Split de activação Churn
ULL Voice Operator revenues ULL Net
5.3 9.0 Valor real ainda está mais elevado
ACTIVAÇÃO
Outr custos Aquis/Angar
SERVICE REVENUES
3.1% 3.18% 32 8% 1
Setup costs
Setup costs
Recurrent
ULL Voice Operator revenues ULL Net
Recurrent
4 Mb SERVICE REVENUES
SERVICE COSTS Interconnection Voice Monthly fee to PT
ACQUISITION COSTS ACTIVAÇÃO ANGARIAÇÃO Outr custos Aquis/Angar
Payback sem CAPEX (m) Split de activação Churn LT WACC LTV
* % split de angariação: 10% 4Mb; 35% 12Mb; 55% 24Mb.
CAPEX
155.0
155.0
155.0
Payback com CAPEX (m)
128
49
34
CAPEX Payback com CAPEX (m)
179
3.1% 32 8%
-201
2.52%
3.84%
155.0
155.0
39
44
0.88
1 2.92%
média churn jan-jun08 (dados CRM)
P&L ULL Residencial
P&L ULL Residencial 33.6
43.7
7.8
7.2
9.0
7.05
6.4
8.26
Voice fee
0.0
0.0
Others
0.73
0.73
Operator revenues ULL Net SERVICE COSTS Interconnection Voice Monthly fee to PT SERVICE MARGIN
1.7 16.5
1.7 24.7
1.7 33.0
12.5
13.0
15.5
3.5 9.0
4.0 9.0
6.5 9.0
13.5 52%
20.6 61%
28.2 65%
10.0
10.4
10.9
NETWORK 4.8 IS / IT 2.1 CUSTOMER SERVICE 1.6 LOYALTY 0 Other Rec. Marketing & Commercial Costs 0.0
4.8 2.1 1.6 0 0.0
4.8 2.1 1.6 0 0.0
OTHER Financial Costs Bad Debt
2.0 0.4 1.6
2.5 0.4 2.1
PRODUCTION COSTS
1.6 0.3584 1.2
0.0 0.7 1.7 28.4 14.3 5.3 9.0 24.1 62%
SERVICE REVENUES ULL Voice
38.4
8.2
8.2
7.5 0.0 0.7 1.7 28.4
7.5 0.0 0.7 1.7 28.4
14.3
14.3
5.3 9.0
5.3 9.0
24.1 63%
24.1 63%
24.1
10.6
10.6
10.6
NETWORK IS / IT CUSTOMER SERVICE LOYALTY Other Rec. Marketing & Commercial Costs
4.8 2.1 1.6 0.0 0.0
4.8 2.1 1.6 0.0 0.0
OTHER Financial Costs Bad Debt
2.2 0.4 1.8
2.2 0.4 1.8
Invoiced traffic Voice fee
VALIDAR; forecast = 0,93€ = forecast
Valor real ainda está mais elevado
10.6 4.8 2.1 1.6 0.0 0.0 0.0 2.2
LNA
38.4
Others
Operator revenues ULL Net SERVICE COSTS Interconnection Voice Monthly fee to PT SERVICE MARGIN PRODUCTION COSTS
38.4
14.3
PRODUCTION MARGIN
3.5 13%
10.2 30%
17.3 40%
13.5
PRODUCTION MARGIN
13.5 35%
13.4 35%
13.4
ACQUISITION COSTS
296.9
346.9
437.9
391.9
ACQUISITION COSTS
370.8
433.9
392.3
120.5 PT PT LL Setup PT Line setup Portabilidade Outsourcing Instalações clientes Outsourcing Avarias Activações Clientes Receitas de Activação (Net e Voz)
120.5
120.5
120.5
ACTIVAÇÃO
92.3 53.1 39.9 0.0 5.7 0.0 7.5 0.0 0.6 10.1 9.3 0.9 0.0
175.4 91.5 48.0 61.0 0.0 50.0 7.5 75.0 11.1 29.3 9.3 7.3 12.7
120.5
8.5 4.3 4.2
8.5 4.3 4.2
20.0 11.0
35.0 11.0
ACTIVAÇÃO
PT PT LL Setup PT Line setup Portabilidade Outsourcing Instalações clientes Outsourcing Avarias Activações Clientes Receitas de Activação (Net e Voz)
OUTSOURCING NETWORK Co-instalação na Central (co-localização fisica) Outsourcing Avarias Activações - Rede Outsourcing Gestão Projecto (OAT)
OUTSOURCING NETWORK Co-instalação na Central (co-localização fisica) Outsourcing Avarias Activações - Rede Outsourcing Gestão Projecto (OAT)
IS / IT Cliente - Activis Rede - Dimension (Cramer)
IS / IT Cliente - Activis Rede - Dimension (Cramer)
CUSTOMER SERVICE Unidade Contacto SAC
Setup costs
0.73
LA 38.4 8.2 7.5
Centro Correspondência
Unidade Operações Activações & Apoio Comercial Facturação Controlo Crédito
11.0
11.0
11.0
10.2
10.2
10.2
0.8
0.8
0.8
14.2
14.2
14.2
13.8
13.8
13.8
0.0
0.0
CUSTOMER SERVICE Unidade Contacto SAC
Setup costs
Recurrent
Invoiced traffic
12 Megas 24 Megas
25.9
Recurrent
4 Megas SERVICE REVENUES ULL Voice
0.0
Centro Correspondência
Unidade Operações Activações & Apoio Comercial
0.4
0.0 0.0 311.9 -70.4 36.0
Advertising
20.7
20.7
20.7
Merchandising
15.2
15.2
15.2
Outros Custsos
0.0
0.0
0.0
75.0 31.9
125.0 31.9
165.0 31.9
Telemarketing
18.1
18.1
18.1
Telemarketing
Espaço
9.8
9.8
9.8
Espaço
Promoters
3.5
3.5
3.5
Outros Custos Comerciais
0.5
0.5
0.5
Commisions Outros custos comerciais
CAPU 1Q08
13.8
0.0
0.4
0.0 0.0 253.1 -47.5 36.0
Advertising
20.7
20.7
Merchandising
15.2
Outros Custsos
0.0
0.0
150.0 31.9
130.0 31.9
Comercial Outros custos comerciais
Outros Custos Comerciais
0.5
0.5
8.6
2.9
2.9
4.3
Transportes
4.3
4.3
Transportes
4.3
4.3
Equipa Logistica & Outros
1.4
1.4
1.4
5.5 5.0 -0.7 1.1
5.5 5.0 -0.7 1.1
266.3 -47.5 36.0
143.2
Promoters
8.6
8.6
2.9
4.3 4.2 0.0 25.1
15.2
Armazém
8.6
2.9
inclui instalação linha (avg LNA)
0.0
0.4
0.0 0.0 273.1 -47.5 36.0
Unidade Desenvolvimento Custos Gerais CC ANGARIAÇÃO Revenues Marketing
2.9
8.6
Armazém
Payback sem CAPEX (m)
142.0 31.9
13.8
Logistica
Logistica
OUTROS CUSTOS Aquisição/Angariação5.5 Imposto de Selo 5.0 Serviço GOM -0.7 Georeferenciação 1.1
265.9 -47.5 36.0
0.8
14.2
Controlo Crédito
0.4
0.0 0.0 220.9 -19.4 36.0
avg valor outsourcing (há desperdicio)
82.5
10.2
0.8
14.2
Facturação
0.4
0.0 0.0 170.9 -19.4 36.0
Unidade Desenvolvimento Custos Gerais CC ANGARIAÇÃO Revenues Marketing
10.2
48.2
8.6
Equipa Logistica & Outros
OUTROS CUSTOS Aquisição/Angariação Imposto de Selo Serviço GOM Georeferenciação
85
34
25
29
Churn LT WACC LTV
10% 2.60% 38.5 8% -178.8
35% 2.60% 38.5 8% -0.7
55% 2.60% 38.5 8% 147.7
2.60% 38.5 8% 63.1
CAPEX
155.0
155.0
155.0
Payback com CAPEX (m)
129
49
34
1.4
1.4
5.5 5.0 -0.7 1.1
5.5 5.0 -0.7 1.1
Payback sem CAPEX (m) Churn LT WACC LTV
CAPEX Payback com CAPEX (m)
28 66% 2.52% 39.7 8% 96.8
32 34% 3.84% 26.0 8% -114.3
155.0
155.0
39
44
8.6
29 2.97% 33.7 8% 11.9
média churn jan-jun08 (dados CRM)
ARPU 4Mb ARPU 12Mb ARPU 24Mb
7.05 6.43 8.26 8.46
CPU 4Mb CPU 12Mb CPU 24Mb
3.48 3.99 6.50 3.71 4Q07
Voice fee Portability Discounts
0.8 0.8 -0.1 1.5
LNA
Jan-08 EOP Churn 25828 1032
LA
119755
Feb-08 EOP Churn 27576 561
4.0% 2864
2.0% 119791
2.4% Grand Total 145583
3896
2.7%
Mar-08 EOP Churn 28623 944
2461
3.3% 118820
2.1% 147367
3022
2.1%
Apr-08 EOP Churn 25937 2156
3302
8.3% 116275
4064
142212
6220.08
2.8% 147443
4246
2.9%
3.5% 4.4%
28.57
May-08 EOP Churn 29881 494
Jun-08 EOP Churn 30092 1167
1.7% 116635
2149
146516
2643.02
3.9% 117376
1.8% 1.8%
Jul-08 EOP Churn 28686 4774
3075
16.6% 115691
2.6% 147468
4242
2.9%
5.69
2.1% 144377
5.69%
2380
2.46%
7154
5.0%
2.46
3.09%
P&L ULL Residencial 2008 Produto TVCABO SERVICE REVENUES
Setup costs
Recurrent
ULL Voice Invoiced traffic Voice fee Others Operator revenues ULL Net
SERVICE COSTS Interconnection Voice Monthly fee to PT
Internet Traffic SERVICE MARGIN
21.4 7.2 7.0 0.0 0.7
1.7 12.5
12.5 3.5 9.0 0.0
8.9 42%
PRODUCTION COSTS
9.8
PRODUCTION MARGIN
-0.8 -4%
ACQUISITION COSTS
246
Payback sem CAPEX
-290
Com TP Noites
Com TP Clix Sem Limtes
24.7
26.0
10.5
11.8
6.4 3.3 0.7
4.8 6.2 0.7
1.7 12.5
1.7 12.5
13.0
13.0
4.0 9.0 0.0
4.0 9.0 0.0
11.7 47%
13.0 50%
9.9
10.0
1.8 7%
3.0 12%
246
246
137
82
ARPU
40.1
38.4
SERVICE COSTS
13.8
14.3
SERVICE MARGIN
26.3 66%
24.1 63%
CONTRIBUTION MG
16.8 42%
13.5 35%
CAPU
2007 ULL AVG
ACQUISITION COSTS
Payback sem CAPEX
288
389
17
29
2007 ULL AVG Churn LT
2008 ULL AVG
2008 ULL AVG
Recurrent
2008 ULL AVG
Setup costs
Setup costs
Recurrent
RECEITAS
2007 ULL AVG
P&L ULL Residencial 2007
LA
LNA
AVG
SERVICE REVENUES
40.1
40.1
40.1
SERVICE COSTS
13.8
13.8
13.8
SERVICE MARGIN
26.3 66%
26.3 66%
26.3 66%
PRODUCTION MARGIN
16.8 42%
16.8 42%
16.8 42%
ACQUISITION COSTS
275
321
288
Payback sem CAPEX (m)
16
19
17
Split de activação
71.00%
29.00%
1.90% 53
1.90% 53
1.9% 53
3.1% 32
Churn LT
WACC
8%
8%
WACC
LTV
456
1
LTV
8%
8%
8%
422 3.84%
455 2.90%
155.0
155.0
26
28
2008: % split de angariação: 10% 4Mb; 35% 12Mb; 55% 24Mb.
CAPEX Payback com CAPEX (m)
5.48%
CAPEX Payback com CAPEX (m)
1.90% 53
468 2.52%
2007: % split de angariação: 40% 12Mb; 60% 24Mb.
0.88
média churn jan-jun08 (dados CRM)
P&L ULL Residencial 2008
P&L ULL Residencial 12 Mb
24 Mb
AVG
25.9
33.6
43.7
38.4
7.8
7.2
9.0
8.2
1.7 16.5
1.7 24.7
1.7 33.0
1.7 = forecast 28.4
12.5
13.0
15.5
14.3
3.5 9.0
4.0 9.0
6.5 9.0
SERVICE MARGIN
13.5 52%
20.6 61%
28.2 65%
24.1 63%
PRODUCTION COSTS
10.0
10.4
10.9
PRODUCTION MARGIN
3.5 13%
10.2 30%
17.3 40%
SERVICE COSTS Interconnection Voice Monthly fee to PT
ACQUISITION COSTS
LA
LNA
AVG
38.4
38.4
38.4
8.2
8.2
8.2
1.7 28.4
1.7 28.4
1.7 28.4
14.3
14.3
14.3
5.3 9.0
5.3 9.0
5.3 9.0
SERVICE MARGIN
24.1 63%
24.1 63%
24.1 63%
10.6
PRODUCTION COSTS
10.6
10.6
10.6
13.5 35%
PRODUCTION MARGIN
13.5 35%
13.4 35%
13.4 35%
371
434
390
92
175
117
273
253
267
5
5
5
28
32
29
70%
30%
2.1% 48 8%
5.4% 19 8%
294
344
435
389
117
117
117
117
ANGARIAÇÃO
171
221
312
266
5
5
5
5
84
34
25
29
10%
35%
55%
LT WACC
3.1% 32 8%
3.1% 32 8%
3.1% 32 8%
LTV
-193
-47
66
Payback sem CAPEX Split de activação Churn
ULL Voice Operator revenues ULL Net
5.3 9.0 Valor real ainda está mais elevado
ACTIVAÇÃO
Outr custos Aquis/Angar
SERVICE REVENUES
3.1% 3.18% 32 8% 1
Setup costs
Setup costs
Recurrent
ULL Voice Operator revenues ULL Net
Recurrent
4 Mb SERVICE REVENUES
SERVICE COSTS Interconnection Voice Monthly fee to PT
ACQUISITION COSTS ACTIVAÇÃO ANGARIAÇÃO Outr custos Aquis/Angar
Payback sem CAPEX (m) Split de activação Churn LT WACC LTV
* % split de angariação: 10% 4Mb; 35% 12Mb; 55% 24Mb.
CAPEX
155.0
155.0
155.0
Payback com CAPEX (m)
128
49
34
CAPEX Payback com CAPEX (m)
179
3.1% 32 8%
-201
2.52%
3.84%
155.0
155.0
39
44
0.88
1 2.92%
média churn jan-jun08 (dados CRM)
P&L ULL Residencial
P&L ULL Residencial 33.6
43.7
7.8
7.2
9.0
7.05
6.4
8.26
Voice fee
0.0
0.0
Others
0.73
0.73
Operator revenues ULL Net SERVICE COSTS Interconnection Voice Monthly fee to PT SERVICE MARGIN
1.7 16.5
1.7 24.7
1.7 33.0
12.5
13.0
15.5
3.5 9.0
4.0 9.0
6.5 9.0
13.5 52%
20.6 61%
28.2 65%
10.0
10.4
10.9
NETWORK 4.8 IS / IT 2.1 CUSTOMER SERVICE 1.6 LOYALTY 0 Other Rec. Marketing & Commercial Costs 0.0
4.8 2.1 1.6 0 0.0
4.8 2.1 1.6 0 0.0
OTHER Financial Costs Bad Debt
2.0 0.4 1.6
2.5 0.4 2.1
PRODUCTION COSTS
1.6 0.3584 1.2
0.0 0.7 1.7 28.4 14.3 5.3 9.0 24.1 62%
SERVICE REVENUES ULL Voice
38.4
8.2
8.2
7.5 0.0 0.7 1.7 28.4
7.5 0.0 0.7 1.7 28.4
14.3
14.3
5.3 9.0
5.3 9.0
24.1 63%
24.1 63%
24.1
10.6
10.6
10.6
NETWORK IS / IT CUSTOMER SERVICE LOYALTY Other Rec. Marketing & Commercial Costs
4.8 2.1 1.6 0.0 0.0
4.8 2.1 1.6 0.0 0.0
OTHER Financial Costs Bad Debt
2.2 0.4 1.8
2.2 0.4 1.8
Invoiced traffic Voice fee
VALIDAR; forecast = 0,93€ = forecast
Valor real ainda está mais elevado
10.6 4.8 2.1 1.6 0.0 0.0 0.0 2.2
LNA
38.4
Others
Operator revenues ULL Net SERVICE COSTS Interconnection Voice Monthly fee to PT SERVICE MARGIN PRODUCTION COSTS
38.4
14.3
PRODUCTION MARGIN
3.5 13%
10.2 30%
17.3 40%
13.5
PRODUCTION MARGIN
13.5 35%
13.4 35%
13.4
ACQUISITION COSTS
296.9
346.9
437.9
391.9
ACQUISITION COSTS
370.8
433.9
392.3
120.5 PT PT LL Setup PT Line setup Portabilidade Outsourcing Instalações clientes Outsourcing Avarias Activações Clientes Receitas de Activação (Net e Voz)
120.5
120.5
120.5
ACTIVAÇÃO
92.3 53.1 39.9 0.0 5.7 0.0 7.5 0.0 0.6 10.1 9.3 0.9 0.0
175.4 91.5 48.0 61.0 0.0 50.0 7.5 75.0 11.1 29.3 9.3 7.3 12.7
120.5
8.5 4.3 4.2
8.5 4.3 4.2
20.0 11.0
35.0 11.0
ACTIVAÇÃO
PT PT LL Setup PT Line setup Portabilidade Outsourcing Instalações clientes Outsourcing Avarias Activações Clientes Receitas de Activação (Net e Voz)
OUTSOURCING NETWORK Co-instalação na Central (co-localização fisica) Outsourcing Avarias Activações - Rede Outsourcing Gestão Projecto (OAT)
OUTSOURCING NETWORK Co-instalação na Central (co-localização fisica) Outsourcing Avarias Activações - Rede Outsourcing Gestão Projecto (OAT)
IS / IT Cliente - Activis Rede - Dimension (Cramer)
IS / IT Cliente - Activis Rede - Dimension (Cramer)
CUSTOMER SERVICE Unidade Contacto SAC
Setup costs
0.73
LA 38.4 8.2 7.5
Centro Correspondência
Unidade Operações Activações & Apoio Comercial Facturação Controlo Crédito
11.0
11.0
11.0
10.2
10.2
10.2
0.8
0.8
0.8
14.2
14.2
14.2
13.8
13.8
13.8
0.0
0.0
CUSTOMER SERVICE Unidade Contacto SAC
Setup costs
Recurrent
Invoiced traffic
12 Megas 24 Megas
25.9
Recurrent
4 Megas SERVICE REVENUES ULL Voice
0.0
Centro Correspondência
Unidade Operações Activações & Apoio Comercial
0.4
0.0 0.0 311.9 -70.4 36.0
Advertising
20.7
20.7
20.7
Merchandising
15.2
15.2
15.2
Outros Custsos
0.0
0.0
0.0
75.0 31.9
125.0 31.9
165.0 31.9
Telemarketing
18.1
18.1
18.1
Telemarketing
Espaço
9.8
9.8
9.8
Espaço
Promoters
3.5
3.5
3.5
Outros Custos Comerciais
0.5
0.5
0.5
Commisions Outros custos comerciais
CAPU 1Q08
13.8
0.0
0.4
0.0 0.0 253.1 -47.5 36.0
Advertising
20.7
20.7
Merchandising
15.2
Outros Custsos
0.0
0.0
150.0 31.9
130.0 31.9
Comercial Outros custos comerciais
Outros Custos Comerciais
0.5
0.5
8.6
2.9
2.9
4.3
Transportes
4.3
4.3
Transportes
4.3
4.3
Equipa Logistica & Outros
1.4
1.4
1.4
5.5 5.0 -0.7 1.1
5.5 5.0 -0.7 1.1
266.3 -47.5 36.0
143.2
Promoters
8.6
8.6
2.9
4.3 4.2 0.0 25.1
15.2
Armazém
8.6
2.9
inclui instalação linha (avg LNA)
0.0
0.4
0.0 0.0 273.1 -47.5 36.0
Unidade Desenvolvimento Custos Gerais CC ANGARIAÇÃO Revenues Marketing
2.9
8.6
Armazém
Payback sem CAPEX (m)
142.0 31.9
13.8
Logistica
Logistica
OUTROS CUSTOS Aquisição/Angariação5.5 Imposto de Selo 5.0 Serviço GOM -0.7 Georeferenciação 1.1
265.9 -47.5 36.0
0.8
14.2
Controlo Crédito
0.4
0.0 0.0 220.9 -19.4 36.0
avg valor outsourcing (há desperdicio)
82.5
10.2
0.8
14.2
Facturação
0.4
0.0 0.0 170.9 -19.4 36.0
Unidade Desenvolvimento Custos Gerais CC ANGARIAÇÃO Revenues Marketing
10.2
48.2
8.6
Equipa Logistica & Outros
OUTROS CUSTOS Aquisição/Angariação Imposto de Selo Serviço GOM Georeferenciação
85
34
25
29
Churn LT WACC LTV
10% 2.60% 38.5 8% -178.8
35% 2.60% 38.5 8% -0.7
55% 2.60% 38.5 8% 147.7
2.60% 38.5 8% 63.1
CAPEX
155.0
155.0
155.0
Payback com CAPEX (m)
129
49
34
1.4
1.4
5.5 5.0 -0.7 1.1
5.5 5.0 -0.7 1.1
Payback sem CAPEX (m) Churn LT WACC LTV
CAPEX Payback com CAPEX (m)
28 66% 2.52% 39.7 8% 96.8
32 34% 3.84% 26.0 8% -114.3
155.0
155.0
39
44
8.6
29 2.97% 33.7 8% 11.9
média churn jan-jun08 (dados CRM)
ARPU 4Mb ARPU 12Mb ARPU 24Mb
7.05 6.43 8.26 8.46
CPU 4Mb CPU 12Mb CPU 24Mb
3.48 3.99 6.50 3.71 4Q07
Voice fee Portability Discounts
0.8 0.8 -0.1 1.5
LNA
Jan-08 EOP Churn 25828 1032
LA
119755
Feb-08 EOP Churn 27576 561
4.0% 2864
2.0% 119791
2.4% Grand Total 145583
3896
2.7%
Mar-08 EOP Churn 28623 944
2461
3.3% 118820
2.1% 147367
3022
2.1%
Apr-08 EOP Churn 25937 2156
3302
8.3% 116275
4064
142212
6220.08
2.8% 147443
4246
2.9%
3.5% 4.4%
28.57
May-08 EOP Churn 29881 494
Jun-08 EOP Churn 30092 1167
1.7% 116635
2149
146516
2643.02
3.9% 117376
1.8% 1.8%
Jul-08 EOP Churn 28686 4774
3075
16.6% 115691
2.6% 147468
4242
2.9%
5.69
2.1% 144377
5.69%
2380
2.46%
7154
5.0%
2.46
3.09%
P&L ULL Residencial 2008 Produto TVCABO SERVICE REVENUES
Setup costs
Recurrent
ULL Voice Invoiced traffic Voice fee Others Operator revenues ULL Net
SERVICE COSTS Interconnection Voice Monthly fee to PT
Internet Traffic SERVICE MARGIN
21.4 7.2 7.0 0.0 0.7
1.7 12.5
12.5 3.5 9.0 0.0
8.9 42%
PRODUCTION COSTS
9.8
PRODUCTION MARGIN
-0.8 -4%
ACQUISITION COSTS
246
Payback sem CAPEX
-290
Com TP Noites
Com TP Clix Sem Limtes
24.7
26.0
10.5
11.8
6.4 3.3 0.7
4.8 6.2 0.7
1.7 12.5
1.7 12.5
13.0
13.0
4.0 9.0 0.0
4.0 9.0 0.0
11.7 47%
13.0 50%
9.9
10.0
1.8 7%
3.0 12%
246
246
137
82
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