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SKY NETWORK TELEVISION ANNUAL RESULTS 2008

SKY NETWORK TELEVISION ANNUAL RESULTS 2008. JOHN FELLET CEO. Subscribers. Subscriber Growth. ‘000. 2007. 2008. % Change. UHF Residential. 53.7. 31.1. (42.1%). DBS (Satellite) Residential. 529.8. 578.0. 9.1%. DBS Wholesale. 114.0. 120.2. 5.4%. Commercial/Other. 13.7. 19.3.

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SKY NETWORK TELEVISION ANNUAL RESULTS 2008

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  1. SKY NETWORK TELEVISIONANNUAL RESULTS 2008

  2. JOHN FELLET CEO

  3. Subscribers

  4. Subscriber Growth • ‘000 • 2007 • 2008 • % Change • UHF Residential • 53.7 • 31.1 • (42.1%) • DBS (Satellite) Residential • 529.8 • 578.0 • 9.1% • DBS Wholesale • 114.0 • 120.2 • 5.4% • Commercial/Other • 13.7 • 19.3 • 40.9% • Total Subscribers • 711.2 • 748.6 • 5.3%

  5. Total Net Gain

  6. Moving Annual Churn

  7. 2008 Monthly Churn Split

  8. Total Revenue

  9. Total ARPU

  10. ARPU

  11. Additional Outlets

  12. Big Mac Index

  13. Sky’s Share of All Television Viewing is Growing. % Share of viewing in all NZ Homes Source: Nielsen TV Ratings, All New Zealanders 5+

  14. Prime’s Share Source: Nielsen TV Ratings, All New Zealanders 25-54 Peak

  15. Advertising Revenue

  16. Viewerhours generated by Subscriber per annum Source: Nielsen TV Ratings, All New Zealanders 5+/SKY TV

  17. Programming Costs % Revenue

  18. EBITDA

  19. Satellite Impact

  20. Net Profit/(Loss)

  21. DIVIDEND

  22. DIVIDEND • The SKY Board has declared a fully imputed final dividend of 7.0 cps. • Record date is 5 September 2008. • Payment date is 12 September 2008. • Total dividend for the year is 14.0 cps

  23. JASON HOLLINGWORTH CFO

  24. Capital Expenditure (excluding transponders and Prime assets)

  25. Capital Expenditure Analysis

  26. DBS (Satellite) Install Costs $719 $506 $512 $487 $454 $439

  27. Results Summary

  28. Revenue Analysis • $NZ million • 2007 • 2008 • % Change • Residential satellite subscriptions • 433.4 • 476.3 • 9.9% • Other subscriptions • 88.1 • 85.9 • (2.5%) • Installation • 20.9 • 16.1 • (23%) • Advertising • 63.4 • 66.5 • 4.9% • Other income • 12.6 • 14.1 • 11.9% • Total Revenue • 618.5 • 658.8 • 6.5%

  29. Expense Analysis

  30. Cash Flow Analysis

  31. Prime Financials

  32. Foreign Currency Hedging • Sky’s hedging positions at 30 June 2008 • 94% hedged for 0 -12 months $US exposures @ .6769 • 56% hedged for 13-24 months $US exposures @ .6672 • 49% hedged for 25-36 months $US exposures @ .6715 • 94% hedged for 0 -12 months $A exposures @ .8612 • 74% hedged for 13-24 months $A exposures @ .8648 • 70% hedged for 25-36 months $A exposures @ .8540 • average $US payment rate • for opex for year to June 08 = 69.0c June 07 = 63.5c

  33. MYSKY HDi Financial Assumptions • Our working assumptions for FY 08/09 are: • Monthly box rental $15 or one-off $599 • HD ticket $10/month • Multiroom $25/month (including free HD ticket) • Target 80,000 new MYSKY HDi boxes • 15% upfront, 85% pay monthly • 10% to new subscribers, 90% to existing subscribers • 45% of MYSKY HDi take multiroom (to 103,000 boxes) • 15% buy HD ticket (and no multiroom) • MYSKY HDi gross churn rate of 7.4% • MYSKY HDi cost is US$330 (vs standard decoder of US$122) • MYSKY HDi ARPU $81 (vs $62 FY07)

  34. Pro forma Impact

  35. MY SKY

  36. JOHN FELLET CEO

  37. GUIDANCE

  38. How appropriate is the level of gearing? Ratio just Right Ratio Too High Ratio Too Low Sky Network Ross Carmichael Singer (NZ) Pty Limited, April 2008

  39. SKY Highlights • 6 new channels • Crime & Investigation • Vibe • CNBC • SKY Movies Greats • SKY Sport Highlights • Fashion TV • SKY Online launched • SKY Sport Magazine • Netball World Champs Nov 2007 • Inaugural ANZ Championship • Screen Enterprises (Fatso, DVD Unlimited,Movieshack) • MYSKY HDi launch

  40. SKY Online • Live streaming and content download via broadband internet • Available now: • 35 top Movies • SKY Movies, MGM, Rialto • Cartoon Network • Discovery Channel • The Box • Air New Zealand Cup • 200 sporting downloads • Netball, Cricket, Rugby

  41. 2008 Key Messages • Net profit of $97.7m, up 26% • Subscriber numbers up 5.3% to 748.6 • ARPU up 2.6% to $62.10, DBS ARPU up 1.9% to $66.12 • Churn increased from 13.4% to 14.9% • SKY share of total television viewing up from 25% to 28%

  42. SKY NETWORK TELEVISIONANNUAL RESULTS 2008

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