M1 (formerly: MobileOne)

M1 Limited wishes to announce that it will release its 2015 full year financial results after close of trading on Monday, 18 January 2016.

Singapore telco market, is becoming more and more interoperable. The end-year result is coming today. Let's see the result

(vested)

IDA to trial interoperable SIM
18 Jan 2016 11:35
By Amit Roy Choudhury

THE Infocomm Development Authority of Singapore (IDA) will be issuing a request for proposal (RFP) to conduct a trial on over-the-air mobile subscription management for embedded SIMs (also called eSIMs) for Internet of Things (IoT) devices such as sensors. The same eSIM will allow data to be carried on the cellular networks of different mobile network operators
...
Source: Business Times Breaking News

As expected,  the full year yield has tumbled to 15.3 cents. Is it in align with fellow vested forumers' expectations? Challenging climate ahead. Interesting to see how it keeps up with Singtel and Starhub's efforts.  

Vested for the long run.

(18-01-2016, 06:04 PM)LocalOptimal Wrote: As expected,  the full year yield has tumbled to 15.3 cents. Is it in align with fellow vested forumers' expectations? Challenging climate ahead. Interesting to see how it keeps up with Singtel and Starhub's efforts.  

Vested for the long run.

I am expecting a cut in dividend, with last year of 100% payout ratio, and 80% this year. The company has been paying around 80% in previous years. The EPS is slightly better at 19 cent per share. If we look at the half-year breakdown, the 1st half was good, but dragged down by the 2nd half.

Both margins, net profit and EBITDA margins are good, and improving.

Key customer groups, post-paid, and fiber customers are stable. ARPU of fiber broadband service is improving, may be due to higher ratio of corporate customers.

So far so good.

(vested)

From M1's past 2 years of cash flow, I notice its dividends paid exceeds cash flow generated. Even for this year's dividends, its total amount exceeds the cash generated by M1 for the whole of the FY (15.3 cents dividends against 10.3 cents cash generated). A lot of money seems to be stuck in its working capital

Is this sustainable given that M1 is likely to be refinancing their term loan at above 1.59% and it is left with 10.0 Mil of cash in b/s?

Bought some today as i thought the market is over reacting to what I thought are satisfactory results  

When news of the fourth telco is announced this year, I think price will take a further hit. Even without that this result shows growth has slowed.

Vested.

(19-01-2016, 11:42 AM)kichialo Wrote: ...this result shows growth has slowed.

Vested.

Earnings growth has slowed in recent quarters. in fact, earnings actually dropped in 4Q2015.....

I will not consider this as a red flag just yet, but definitely a 'yellow' flag. Will keep a close eye on future developments.

(Vested)

Initiated a buy finally and that price comes with a CD.

Conference transcript :

http://finance.yahoo.com/news/edited-tra...03452.html

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