Dialog Axiata PLC | Annual Report 2010 D ia lo g A x ia ta P L C | A ...
Dialog Axiata PLC | Annual Report 2010 D ia lo g A x ia ta P L C | A ...
Dialog Axiata PLC | Annual Report 2010 D ia lo g A x ia ta P L C | A ...
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Finance CostsIn early <strong>2010</strong>, <strong>D<strong>ia</strong><strong>lo</strong>g</strong> performed a strategic review of its borrowings portfolio on thebackdrop of elevated finance costs and the requirement to adjust Debt: Equity compositionwithin the debt portfolio. Further, the assessment was in order to capi<strong>ta</strong>lise on preferent<strong>ia</strong>lterms/rates arising from <strong>lo</strong>cal/international debt and foreign exchange market dynamics.The finance costs decreased by 65% YoY compared to 2009 on the twin impact ofreduced debt levels and <strong>lo</strong>wer interest rates resulting from the decline in reference rates.The net finance cost for the year was recorded at positive Rs. 243 Mn. The compositionof the net finance cost includes interest on borrowings during the period of Rs. 538 Mn.,interest income of Rs. 95 Mn. and a foreign exchange gain of Rs. 686 Mn.EBITDA and PATThe Company EBITDA for <strong>2010</strong> grew by 69% YoY to reach Rs. 14.46 Bn. Underpinnedby strong revenue growth and cost improvements, EBITDA margin expanded from 26%in 2009 to 38% in <strong>2010</strong> - an increase of 12 percen<strong>ta</strong>ge points compared to 2009. TheCompany recorded a PAT of Rs. 6.55 Bn. for <strong>2010</strong>, a significant 171% improvement relativeto Rs. 9.21 Bn. <strong>lo</strong>ss recorded in 2009.Business & Financ<strong>ia</strong>l Review<strong>D<strong>ia</strong><strong>lo</strong>g</strong> <strong>Ax<strong>ia</strong><strong>ta</strong></strong> <strong>PLC</strong>| <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>29
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