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FY08 Results Call

FY08 Results Call. Subex Limited Bangalore, India. FY08 in Perspective. Product Business – Operating Margin. All Figures in US$ Mln. Operating Profit = Total Profit excl. Depreciation, Tax and Provision for Bad Debts. Reasons for Poor Performance.

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FY08 Results Call

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  1. FY08 Results Call Subex Limited Bangalore, India

  2. FY08 in Perspective Proprietary and Confidential

  3. Product Business – Operating Margin All Figures in US$ Mln. Operating Profit = Total Profit excl. Depreciation, Tax and Provision for Bad Debts Proprietary and Confidential

  4. Reasons for Poor Performance • Postponement of order from a customer amounting to US$ 20 mln. • Issues with execution resulting in lower revenue recognition in continuing business • Lower growth in order intake due to challenges with integration • Cost base is largely fixed with minimal variability Proprietary and Confidential

  5. Measures to Improve • Increase order intake • Reduce cost • Enhance operational efficiency Proprietary and Confidential

  6. Expenses All Figures in US$ Mln. Expenses exclude Cost of Hardware, Software & Services and Bad Debts Proprietary and Confidential

  7. FY08 Product Rev. – By Stream Proprietary and Confidential

  8. FY08 Product Rev. – By Geography Proprietary and Confidential

  9. FY08 – Other Metrics Share of Product Revenue in Total Revenue DSO Proprietary and Confidential

  10. Product Business – Key Metrics • Backlog plus Annuity for FY09 – US$ 85 Million • Current qualified pipeline – US$ 347 Million with a success rate of 31% • Operating Cost has come down by US$ 3 mln in Q4 as compared to the average of the first 3 quarters – business has fully achieved an annualised saving of US$ 12 mln expected at the time of Syndesis acquisition • Attrition during the year – 12.5% Proprietary and Confidential

  11. The Two Acquisitions – A Study Proprietary and Confidential

  12. Order Intake 25% 16% 28% All Figures in US$ Mln. Proprietary and Confidential

  13. Operational Cost All Figures in US$ Mln. Proprietary and Confidential

  14. Revenue All Figures in US$ Mln. Proprietary and Confidential

  15. What have we Achieved - Quantitative • Over the past 21 months, we have achieved an annualised cost saving of about US$ 34 mln in FY09 – the total Operational Cost would have been US$ 140 mln had the three companies (Subex, Azure and Syndesis) been independent – current annualised figure is US$ 106 mln • Over 36 months, Order Intake has grown 87% (70M to 131M) and Revenue has grown 62% (77M to 125M) while cost has grown only by 29% (82M to 106M) – non linearity being achieved Proprietary and Confidential

  16. What have we Achieved - Qualitative • The company serves over 170 customers spread across 70 countries with 32 of the Top 50 telcos in that group • Deepening relationships resulting in the company becoming a significant partner – in FY09, 6 customers with annual billing more than US$ 5 million each • Unique product set enabling the company to create “blue ocean” and provide differentiated value to customers – ROC platform Proprietary and Confidential

  17. FY09 Guidance Revenue – US$ 125 mln Profit After Tax – US$ 12 mln Note : Excludes Staff Supplementation Services Business Proprietary and Confidential

  18. Thank Youwww.subexworld.com

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