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TELSTRA TODAY

  • Telstra Share Price - a sad history
  • 2018 Latest Financial Resulta
  • 2018 Business Unit Resulta
  • 2018 Mobile Customers
  • 2018 Labour Costs
  • 2018 CEO Remuneration

  • Telstra InfraCo Announcement<\a>

    TELSTRA HISTORY

  • Telstra History
  • Letterheads
  • Background

    • TELSTRA SHARE PRICE - A SAD HISTORY

    2018 LATEST FINANCIAL RESULTS

    Source: Telstra Annual Report 2018 

    
Continuing Operations	        2018      2017      2016      2015      2014
Total Income                $29,042m  $28,205m  $27,050m  $26,112m  $26,296m
Profit                      $ 3,529m  $ 3,874m  $ 3,832m  $ 4,114m  $ 4,549m 
Dividends per share            22.0c     31.0c     31.0c     30.5c     29.5c 
                              
Continuing Operations 1	        2018      2017      2016      2015      2014
Total income excluding      $29,042m  $28,205m  $27,050m  $26,112m  $26,296m
  excluding finance income                                                  
EBITDA 2 		    $10,121m  $10,679m  $10,465m  $10,533m  $11,135m
EBIT 3 	 	            $ 5,651m  $ 6,238m  $ 6,310m  $ 6,559m  $ 7,185m
Profit for the period from  $ 3,529m  $ 3,874m  $ 3,832m  $ 4,114m  $ 4,549m 
  continuing operations                                                     
Profit for the period from  $     -m  $     -m  $ 2,017m  $   191m  $  -204m
  discontinued operations 4                                                 
Profit from continuing and  $ 3,529m  $ 3,874m  $ 5,849m  $ 4,305m  $ 4,345m
  discontinued operations                                                   
Dividends declared per         22.0c     31.0c     31.0c     30.5c     29.5c 
  share (cents)                                                             
Total assets                $42,870m  $42,133m  $43,286m  $40,445m  $39,360m
Gross debt                  $15,368m  $16,218m  $16,009m  $14,962m  $16,048m
Net debt                    $14,739m  $15,280m  $12,459m  $13,566m  $10,521m
Total equity                $15,014m  $14,560m  $15,907m  $14,510m  $13,960m
Capital expenditure 5       $ 4,717m  $ 4,606m  $ 4,045m  $ 3,589m  $ 3,661m 
Free cashflow               $ 4,695m  $ 3,496m  $ 5,926m  $ 2,619m  $ 7,483m 
Earnings per share (cents)     30.0c     32.5c     47.4c     34.5c     34.4c
Dividend payout ratio (%)6       73%       95%       65%       88%       86%

    Notes:
    1.Represented the Autohome Group being classified as a discontinued operation.
    2.Operating profit before interest, depreciation and amortisation and income tax expense. EBITDA is used as a measure of financial performance by excluding certain variables that affect operating profits but which may not be directly relate to all financial aspects of the operations of the company. EBITDA is not a measure of operating income, operating performance or liquidity under A-IFRS. Other companies may calculate EBITDA in a different manner to us.
    3.EBITDA less depreciation and amortisation.
    4.Profit/(loss) for the year from discontinued operations for FY15 and FY16 included both Sensis and Autohome Group results, while FY14 and FY13 only included Sensis results.
    5.Capex is defined as additions to property, equipment and intangible assets including capital lease additions, excluding expenditure on spectrum, measured on an accrued basis. Excludes externally funded capex.
    6.Dividend payout ratio from continuing and discontinued operations. Dividend payout ratio from continuing operations FY16: 98%

    BUSINESS UNIT RESULTS

    Source: Telstra Annual Report 2018

    
Total external income 			FY18      FY17       Change
    
Telstra Consumer and Small Business 	$14,683m  $14,722m   -0.3%
Telstra Enterprise                      $ 8,249m  $ 8,108m    1.7%
Telstra Wholesale                       $ 2,737m  $ 2,837m   -3.5%
Telstra Operations                      $ 1,217m  $ 1,151m    5.7%
All Other 			        $ 2,156m  $ 1,387    55.4%
Total Telstra segments                  $29,042m  $28,205     3.0%

    MOBILE CUSTOMERS

    Source: Telstra Annual Report 2018

    2016	17.2m
2017	17.4m
2018	17.7m

    LABOUR COSTS

    Source: Telstra Annual Report 2018

    Labour

    Total labour expenses decreased by 4.2 per cent or $224 million to $5,157 million. Redundancy costs decreased by 47.9 per cent or $150 million resulting from higher restructuring related costs in FY17, while labour substitution costs decreased by 6.1 per cent or $59 million due to a reduction in labour outsourcing. Salary and associated costs decreased by $9 million or 0.2 per cent.

    Total full time staff and equivalents (FTE) remained steady at 32,293, with an increase in domestic FTE offset by an offshore reduction. 

    
Operating expenses 	FY18 	   FY17 	Change
    
Labour 			$ 5,157m    $ 5,381m 	-4.2%
Goods and services      $ 8,758m    $ 7,671m 	14.2%
Other expenses          $ 4,984m    $ 4,506m    10.6%
Total operating expense $18,899m    $17,558m     7.6%

Staff FTE                32,293      32,293        0%

    CEO REMUNERATION

    Source: Telstra Annual Report 2018

    The report shows a pay reduction. However a later table exposes more income. 

                        Fixed    Non Monet  EVP/STI    STI      LTI       TOTAL
2017 Andrew Penn    $2,325k  $ 9k       $1,486k    $349k    $    0k   $3,745k
2018 Andrew Penn    $2,374k  $ 5k       $1,103k    $263k    $1,039k   $5,208k

          Salary  EVP     NonMon  Super  Leave  Shares  Rights  TOTAL 
2018  $2,354k $1,103k $   5k  $ 20k  $ 59k  $ 672k  $  305k $4,518k
2017  $2,305k $1,486k $   9k  $ 20k  $ 57k  $ 464k  $1,319k $5,660k
    Maximum potential EVP opportunity for Andy Penn in 2018 is $9,560,000.

    EVP Executive Variable Remuneration Plan
    STI Short Term Incentive


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