Telstra 2009 Annual Report Download - page 42

27
Telstra Corporation Limited and controlled entities
Full year results and operations review - June 2009
Major subsidiaries - financial summaries
Below is a summary of the major reporting lines for our three
largest subsidiaries: Sensis, CSL New World and TelstraClear.
This information is in addition to the product analysis
previously provided in the document and is intended to show
these businesses as stand alone entities.
Sensis financial summary
Amounts included for Sensis represent the contribution included in Telstra’s consolidated result.
Sensis total income is split into the following categories:
(i) The Chinese online business results are from unaudited management accounts converted from local currency into Australian Dollars. The year ended 30 June 2009
includes 12 months of revenue for Norstar Media and Autohome/PCPop as our investment occurred in June 2008, with no corresponding revenue in the prior year. SouFun
is included in both years.
Sensis is Telstra’s advertising subsidiary and Australia’s leading
information resource. Sensis help you find, buy and sell
through service offerings including Yellow™, White Pages®,
1234, Citysearch*, UBD#, Gregory’s# and Whereis®. Sensis also
manages the group’s advertising assets in China through
interests in SouFun and the two Chinese internet businesses
purchased in June 2008, Norstar Media and Autohome/PCPop.
These investments give Sensis leading positions in the
fast-growing online auto and digital device advertising sectors.
The success of our unique value proposition and continued
investment in usage and advertiser return on investment has
assisted in growing total income by 5.8%. Of note was that
included in the fiscal 2009 results was only 9 months of Trading
Post~ revenue (within classifieds) and expenses as this business
was transferred to our Telstra Media operating segment on 1
April 2009.
Our print directories grew in a weakening market with an 8.2%
increase in White Pages® print directories and a 0.5% increase in
Yellow™ print directories achieved through growth in new
customers, advertiser retention rates and yield. Both online
sites have also experienced growth with White Pages® online
revenue growth of 106.8% and Yellow Pages™ online revenue
growing by 14.6%.
China delivered excellent revenue growth of 128.4%. SouFun
delivered revenue growth of 55.9%. SouFun is China’s number
one real estate site with an online presence in 100 cities. The
Autohome and CHE168 businesses are number one in online
auto, while PCPop and IT168 are number two in online
consumer electronics. Site usage grew to 3.5 billion monthly
page views; reflecting strong growth in China’s online
population and our focus on providing a ‘best in class’
customer experience.
Year ended 30 June
2009 2008 Change Change
$m $m $m %
Total income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,251 2,127 124 5.8%
Operating expenses (excl. depreciation and amortisation). . . . . . . . . . . . . . . . . . . . 1,078 1,033 45 4.4%
EBITDA contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,173 1,094 79 7.2%
Depreciation and amortisation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 150 (28) (18.7%)
EBIT contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,051 944 107 11.3%
Capital expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 219 257 (38) (14.8%)
EBITDA margin on sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52.1% 51.4% 0.7
Year ended 30 June
2009 2008 Change Change
$m $m $m %
- Yellow™ revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,306 1,273 33 2.6%
- White Pages® revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 412 369 43 11.7%
- Classified revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 110 (42) (38.2%)
- Emerging business. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 150 (25) (16.7%)
- Chinese online businesses (i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201 88 113 128.4%
- Voice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 126 3 2.4%
Total Sensis advertising and directories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,241 2,116 125 5.9%
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 911 (2) (18.2%)
Total Sensis sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,250 2,127 123 5.8%
Other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1 -
Sensis total income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,251 2,127 124 5.8%