Investor Presentaiton
26
Cost Breakdown
SG&A Analysis
In EGP Millions
General & Administrative Expenses:
QoQ
YOY
Quarter Only
%
%
Q4 2014 Q3 2014 Q4 2013
Change Change
Salaries & Wages
Margin/G&A Expenses
Depreciation
Margin/G&A Expenses
336
62.94%
268
67.18%
227
60.99%
25.70% 48.30%
15
2.74%
14
3.56%
12
3.30%
3.14%
19.29%
Others
Margin/G&A Expenses
183
117
34.32% 29.27%
133
35.71%
57.34%
38.12%
Total G&A Expenses
Margin/Total Revenue
535
17.77%
398
14.67%
372
13.37%
34.15% 43.71%
Selling & Distribution Expenses:
Depreciation
Salaries & Wages
Q4 2014 Results
The increase in salaries and wages is attributable to the 10% annual salary
increase and the newly structured incentive rewards program, both of which
came into effect as of the first quarter 2014, amounting for a difference of
more than EGP 121 million YoY & EGP 114 million QoQ.
Impacted by the cost of the fully depreciated assets during the period.
Salaries & Wages
Margin/S&D Expenses
212
166
56.55% 48.44%
199
48.90%
27.12% 6.06%
Depreciation
Margin/S&D Expenses
2
0.60%
2
-1.15% -0.13%
0.66%
0.55%
G&A Expenses
Others
Margin/S&D Expenses
160
42.86%
175
206
50.90% 50.55%
-8.31% -22.23%
Others
Total S&D Expenses
Margin/Total Revenue
374
344
12.43% 12.64%
408
14.66%
8.90%
-8.27%
Total SG&A
Margin/Total Revenue
909
30.20%
742
27.31%
780
28.02%
22.46% 16.52%
Note: All financial figures reported are based on Consolidated financials under Egyptian Accounting Standards.
The Increase is mainly due to the increase in Taxes & Custom Duties by
EGP 20 Million YoY.
S&D Expenses
The decrease is mainly due to the decrease in discount allowed to mobile
operators by 25% YoY and Advertisement.by 38% YoY.
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