SKT Sky Network Television Limited.

[LoungeLizzard]

Lift-off !
If they can keep the pedal down with news of a property sale and flag a return to dividends, then $2.50 will be attained in short order followed by $3. Good times ahead - finally!

[LaserEyeKiwi]

Is anyone listening to the in progress conference call?

[Balance]

“The stock market is a device for transferring money from the impatient to the patient.” Warren Buffett

“Time is the friend of the wonderful business, the enemy of the mediocre.”

“One clear and simple investment edge that anyone can choose to take advantage of is patience.”

Thanks to all the hysterical negative postings, some of us were able to top up at $1.70.

Cheers, everyone!

Champagne & lobsters for dinner this Friday!

[LaserEyeKiwi]

Analysts asking questions now:

Ari from Jarden:

Q: How did you get Permanent programming costs lower?

A: (Sophie) using customer data and analytics providing info on how much content we need in future that customers actually care about (Sky will buy less), also doing things like commentary team calling games from Auckland studio for the all blacks northern tour (instead of the costs involved with sending them over to Europe)

Q: Capex? Set top box inventory budget?

A: I can safely say new box on target - that’s included in year 2022 capex.

Q: Residential revenue growth?

A: Skybox & Streaming revenue both looking good.

[sb9]

C'mon Arie, give others a chance to ask a question...

[LaserEyeKiwi]

Q: Broadband revenue?

A: “really happy with progress with broadband and is tracking in line” (In line with what???)

Q: Cash reserves needed?

A: “Super comfortable” free cashflow will cover capex needs from our perspective, but wait for February board review of capex structure.

Q: Why was there so much fat to cut from the operational expenses?

A: costs savings from right across the business / removing reliance on third parties like consultants / agencies / vendors, also “looking for rebates to secure” / changing marketing spend but confident it wont impact revenue.

[LaserEyeKiwi]

Morningstar:

Q: Programming costs - are they just 2022 targets?

A: yes just 2022.

Q: non-recurring items this year (other than property sale):

A: none other than the already flagged one off programming cost.

Q: where did this data & analytic capability come from?

A: was there to use and now we are implementing it after advising the board

[LaserEyeKiwi]

UBS:

Q: FY23 cost savings?

A: $40-45m annualized savings will carry through to 2023 and so will see larger savings in 2023 vs 2022. Should be more than $40-$45m already identified.

Q: 2024?

A: too early to say, but the annualized cost savings will flow through to future years wiht hopefully more.

Q: James from Foxtel - what were his thoughts?

A: he gave expert guidance. He said “Our content slate is incredibly impressive”, and data capability Different market conditions to Foxtel. Both have box customer and going after streaming.

Q: Sky rewards feedback?

A: too early to say.

Q: something Capex something

A: blah blah blah

[LaserEyeKiwi]

Ari again:

Q: corporate partnership? Approaches? Status?

A: “Still some interest in us”

[LaserEyeKiwi]

Craigs:

Q: FY24 targets. Cost savings targets? Are todays numbers in addition to that or bringing forward future targets savings?

A: it will be much bigger figure in cost savings by FY24 than previously advised. Bringing forward and also addition to. Not providing guidance though (but he just did really)

Q: capex savings? Pushing costs to future?

A: not deferring capex, just re-evaluated what we actually needed and ditching some things not required.