Dialog Axiata PLC | Annual Report 2010 D ia lo g A x ia ta P L C | A ...

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DTV’s product offering encompasses an extensive assortment of international channelsincluding CNN, BBC, Star, HBO, Cinemax, AXN, ESPN, Ten Sports, Discovery, MTV (MusicTelevision) and Cartoon Network alongside a wide variety of local content.DTV Financial ReviewRevenueHealthy momentum in revenue growth was further consolidated at the Group’s Televisionbusiness as DTV recorded a revenue of Rs. 2.02 Bn. for the year 2010, a significant increaseof 23% relative to 2009. Revenue growth in 2010 was fuelled by a strong 41% increase insubscription revenue driven by 13% growth in subscribers compared to 2009.Revenue comprises initial connection fees, subscription rentals and other revenue includingrevenues from advertising and miscellaneous services. The revenue generated from monthlysubscriptions accounted for 78% of the total revenue in 2010 (compared with 68% in 2009).EBITDA and PATDTV demonstrated a similar turnaround in performance with a positive EBITDA in Q1 2010for the first time since acquisition and consolidation within the Dialog Group and continuedto record four consecutive quarters of EBITDA growth to stand at Rs. 343 Mn. at the endof 2010, a significant improvement of 243% compared to 2009. EBITDA growth YoY wasunderpinned by a strong increase in usage revenues, renegotiation of content bouquet andother cost rescaling initiatives.34Dialog Axiata PLCAnnual Report 2010 |Business & Financial Review
On the backdrop of revenue and cost performance as described above, DTV reported a PATof negative Rs. 154 Mn. in 2010, a strong improvement in profitability by 80% relative to 2009.TaxationBy virtue of DTV’s USD 5 Mn. investment with the BOI towards the development of a DigitalTelevision Broadcasting Platform, DTV was granted a three-year tax exemption periodcommencing October 2009. Upon expiry of the exemption period (ending September 2012),the Company’s profits will be subject to a corporate tax of 10% p.a. for the succeeding twoyears and a 20% corporate tax p.a. thereafter.Business & Financial ReviewDialog Axiata PLC| Annual Report 201035
Page 4 and 5: Message from the ChairmanThe Turnar
Page 6 and 7: The Sri Lankan economy has begun to
Page 8 and 9: your company concluded the Financia
Page 10 and 11: The positive dynamics of the Sri La
Page 12 and 13: Our Fixed Telephony and Data Transm
Page 14 and 15: Dialog’s direct contribution to t
Page 16 and 17: Board of DirectorsDatuk Azzat Kamal
Page 18 and 19: Board of Directors (Contd.)Mr. Jaya
Page 20 and 21: Group Senior ManagementPradeep De A
Page 22 and 23: Business & Financial Review2010 - A
Page 24 and 25: The Group direct costs grew by 6% w
Page 26 and 27: Parent Axiata Group. Dialog has a U
Page 28 and 29: The international telecommunication
Page 31 and 32: Finance CostsIn early 2010, Dialog
Page 33 and 34: TaxationDialog has been granted fla
Page 35: However, DBN remained PAT negative
Page 39 and 40: Board Composition and IndependenceT
Page 41 and 42: All committees have written Terms o
Page 43 and 44: Re-electionThe Company’s Articles
Page 45 and 46: The BAC conducts a review of the ef
Page 47: Information which is disseminated t
Page 50 and 51: The BAC was also entrusted with the
Page 52 and 53: Shareholder InformationMarket Infor
Page 54 and 55: DividendsDialog’s dividend policy
Page 56 and 57: The total number of shareholders of
Page 59 and 60: Financial ReportsDialog Axiata PLC
Page 61 and 62: Accounting PoliciesThere were no ch
Page 63 and 64: Mr. Moksevi Rasingh Prelis, who has
Page 65 and 66: Future DevelopmentsIn line with its
Page 67 and 68: Independent Auditor’s ReportTo th
Page 69 and 70: Consolidated Income StatementFor th
Page 71 and 72: Attributable to equity holders of t
Page 73 and 74: Notes to the Consolidated Financial
Page 75 and 76: (c) Computer SoftwareAcquired compu
Page 77 and 78: 2.8 InvestmentsInvestments are stat
Page 79 and 80: (c) Short-term Employee BenefitsWag
Page 81 and 82: (e) Prepaid Card RevenueRevenue fro
Page 83 and 84: (f) ProvisionsThe Group recognises
Page 85 and 86: The segment assets and liabilities
Page 87 and 88:
6. Property, Plant and Equipment(a)
Page 89 and 90:
(c) Provision for Capital Inventory
Page 91 and 92:
(b) CompanyLicencesRs. ’000Comput
Page 93 and 94:
The following assumptions were appl
Page 95 and 96:
10. Trade and Other Receivables2010
Page 97 and 98:
The preference shares are redeemabl
Page 99 and 100:
15. Trade and Other Payables2010Rs.
Page 101 and 102:
Axiata Investments (Labuan) Ltd. (f
Page 103 and 104:
The gratuity liability of the Compa
Page 105 and 106:
22. Employee Benefit Expense2010Rs.
Page 107 and 108:
Tax losses available for carry forw
Page 109 and 110:
27. Cash Generated from OperationsR
Page 111 and 112:
29. Contingencies(a) Pending litiga
Page 113 and 114:
31. Related Party Transactions(a) T
Page 115 and 116:
(b) The Company is controlled by Ax
Page 117 and 118:
2010Rs. ’0002009Rs. ’000iii) Te
Page 119 and 120:
(f) Outstanding receivable balances
Page 121 and 122:
33. Events after the Balance Sheet
Page 123 and 124:
Income StatementFor Information Pur
Page 125 and 126:
Five Year SummaryGROUP31st December
Page 127 and 128:
NotesDialog Axiata PLC| Annual Repo
Page 129 and 130:
Form of ProxyI/We (name) ..........
Page 131 and 132:
Corporate InformationNAME OF COMPAN
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