annual - Maxis

Maxis BERHAD Annual Report 2009 | 49
cHIEF eXECUTIVE
oFFICER’S
STATEMENT
Dear Shareholders,
The Malaysian telecommunications industry remains
resilient despite the challenging global economic climate.
In 2009, the overall growth of the mobile industry was
satisfactory and the mobile subscriber penetration crossed
100%. Competition in the category however, intensified
with the entry of a number of MVNOs and WIMAX players,
all coinciding with the establishment of mobile number
portability which was introduced in late 2008. During the
year we also witnessed an increased focus on the national
mandate to grow broadband in Malaysia, followed by
heightened market activity in this sector.
Within this context, I am pleased that following a first-half
performance somewhat affected by our infrastructure
updates and competitive pricing pressures, we recovered
with encouraging trends in our business performance
towards the year’s end. I am particularly proud of the
manner in which the Maxis team stood this test, sustaining
its leadership market position, and also delivering on the
planned strategic initiatives for the year. This underlines
our brand strength and ability to react to changing market
conditions.
Continuing leadership and strong financial
performance
In 2009, we delivered the following key results:
• highest ever revenue of RM8.6 billion
• subscription base of 12.3 million with a leading overall market
share of 41% and No.1 position in both Postpaid and Prepaid
mobile categories
• Maxis once again was ranked among the five most valuable
brands in Malaysian business
• ended the year with a regionally acclaimed non-voice revenue
contribution of 34.4%
• an EBITDA of RM4.3 billion, at 50.4% EBITDA margin, and
profit after tax of RM2.2 billion.
Maxis continued to achieve ‘above industry’ EBITDA margins,
reflecting the Group’s core strengths of market leadership,
discipline in operational execution and a prudent attitude
towards costs.
2009 was also a year of investment as we embarked on an
accelerated transformation of Maxis driven by our vision and the
opportunities in the Malaysian market.
Sustained long-term infrastructure
investment
Our brand’s service reputation has been built around our superior
customer service and quality network. Due to the continual high
expectations and standards that come with the Maxis brand it is
not without reason that our customers are more demanding of
us. Our business centres on being the customer’s first choice.