Good morning, everyone. My name is Naureen. I'm Grameenphone's Head of Investor Relations, and I would like to thank you for joining our earnings disclosure for the fourth quarter of 2021. With me today are our CEO -- I apologize. With me today are our CEO, Yasir Azman; and CFO, Jens Becker. Before we start, please note that our presentation, financial statements, additional documents are available on our Investor Relations website. [Operator Instructions] With this, I would like to hand over to our CEO, Mr. Yasir Azman, to start our presentation.

Thank you, Naureen, and good morning, everyone. Thank you for joining us for our fourth quarter results announcement. I'm Yasir Azman, Chief Executive Officer of Grameenphone. I would like to begin with some industry facts on our mobile subscribers in the country, and that's -- we have until November 2021 as latest report by the telecom regulator. As of November 2021 subscriber base reached to 181.53 million. It is an increasingly by almost 7 million subscribers, registering a 7% growth from end of 2020. GP stood at 84.04 million in November, which is 46.3% of the total mobile subs in the country, which means GP had a higher share of the growth until November. In the same period, mobile data users have increased by over 14 million, reaching to 116.53 million Internet users in the country, a 14% increase from the end of 2020. Let me start with a short overview of some of the key highlights of the year. 2021 has been full of uncertainties as we continue to face challenges from the COVID-19 pandemic and related restrictions, which impacted our operational and financial performance to an extent. Despite the many challenges, we reaffirmed our commitment to empowering the nation by continuing our planned investment in network and in spectrum. The extensive effort we made towards expanding coverage and improving customers' experience along with modernization initiatives led to improved growth momentum as the year progressed. I'm happy to share that in collaboration with our authorities and stakeholders, we were able to resolve 22 out of 30 financial disputes with LTU-VAT through alternative dispute resolution and bilateral discussions, even receiving a recognition from LTU-VAT for our resolution-oriented efforts. We'll continue these paths to amicably solve the remaining disputes with us and in between NBR and Grameenphone. Growth improvement continued in…

Thank you, Azman, and good morning to everybody. Let me start with a short overview of the key KPIs. In Q4 '21, Grameenphone delivered a solid financial performance with improved growth momentum both in top line and EBITDA. The top line growth momentum was supported by deployment of new spectrum, sites rollout and enhanced customer and market-focused activities. We recorded a 3.6% year-on-year growth in subs and traffic revenue in Q4 after a 1.9% growth in Q3. EBITDA grew by 2.6% with a margin of 62.4% in Q4 after a 1.3% growth in Q3. With the increased investment efforts, backed by the newly acquired spectrum at the end of Q1 '21, GP's CapEx to sales ratio for the quarter stood at 12.1% based on a 4-quarter moving average, which was 18% on a stand-alone basis. EPS for the quarter stood at BDT 6.04 with a 21% decrease from last year on a reported basis. The decrease in EPS was mainly contributed by favorable one-off adjustments, gained finance costs and tax expenses in the fourth quarter of last year, means 2020. Looking at our subscriber development, Grameenphone's total subscriber base reached 83.3 million in Q4, constituting a 5.3% growth from last year while our data users reached 44.6 million with an 8% growth year-on-year. Compared to previous quarter, means Q3, the total sub base decreased by 0.3 million since Grameenphone focused more on driving usage from existing subscribers rather than new acquisition during the seasonal downtrend from winter. As a result, substantial growth in data usage was observed from last year as well as from previous quarter, contributing towards top line growth. The superior 4G network experience, Grameenphone's 4G data users reached 27.6 million, with 39.7% growth from last year. According to BTRC published information as of November 21, GP subscription…

Thank you, Jens. We have continued to deliver growth in our top line and EBITDA, mainly driven by growth in users and usage. And improving our customer experience through new sites rollout and spectrum deployment will continue to remain as key to us, hence better trust on us, and growth. We'll continue to pursue our journey towards sustainable growth through modernization, evolving business models, competency development, creating partnership and being socially responsible through our various programs. With that, I hand over to Naureen for our Q&A session.

Thank you, Azman bhai. We will now switch to Q&A. [Operator Instructions] I have received one question already. So this is from IDLC. What are the major reasons for subscriber decline in Q4 2021? Azman bhai, would you like to take this?

Yes. We have been focusing on existing subscriber base usage and ARPU growth. At the same time, we are basically now working on the new [ numbers ].

Okay. Additional question for Jens. GP's EPS has been plateauing at 25% to 27% range for the past 3 years. What would be your key priorities in 2022 to bring growth?

Yes. I think, overall, the strategic priorities, I think I discussed in all the calls also before, and growth is one of the key priorities that we see coming from the market overall. So driver for anyhow -- for any -- on the net profit and EPS, therefore, is coming from top line growth.

Thank you, Jens. We will wait for some more questions. Azman bhai, I have a question for you. There was a guideline saying customers will get unused data if they renew the same package. What is the implication and financial impact of this guideline?

I think we have been giving the unused data already for the same package not used. But however, this and an extended version new guideline coming where probably at the same volume, a different pack also to carry forward unused data. And we are working on it. It requires a new event product portfolio. At this point of time, it's not towards the financial. In fact, our implication is rather customer convenience, how we can provide. That's what we are working on.

[Operator Instructions] Azman bhai, I have a question for you. Reportedly, the network quality of GP has been very poor recently around Dhaka City. Is there any specific reason?

So I think as far as Dhaka City concerned that we have significantly improved in terms of our network coverage being in new sites, as we mentioned, the total sites have been increasing during 2021. We have also rolled out 2,100 megahertz after the new spectrum acquisition and also [ refound ] 1,800. So we believe that we are working on to give better data networks experience in data where the Dhaka topography is constantly changing, and we need to also continue working dynamically in this area.

Jens, I have a bit of a forward-looking question for you. What strategy do you have to trim down costs in 2022 since EBITDA margin slowed down in Q4?

Yes. As you can see, we see the overall, of course, we see that the EBITDA margin is fairly stable over the past months and quarters that we have seen. But as Azman has mentioned in his speech, we have a huge topics that we follow up on the modernization agenda of our organization. So in terms, as we know, going forward, and entering the data space, it's very important for us to have a close look on the cost base, as you mentioned in your question here. So in base terms, it -- modernization initiative that we have started this year, be it on the IT side, be it on the network side as well as on the organization is what we carry forward. This includes, of course, digitalization as a main lever that we see going forward.

Thank you, Jens. Azman bhai, I have a question for you, whether we can share any updates on tower sharing.

We don't have as such any update on tower sharing, but at this point of time, we are open to have followed the regulations on this area, and we are working with regulators and other operator.

Thank you, everyone. We will wait one more minute for any questions.

Yes, I think there's a question also what I see here on the data prices. How much have this decreased over the last years. Onto it. There's a constant pressure on the data pricing that we have seen. Can't tell you this for the industry, and it's getting also more and more complicated or complex to distract it as the whole industry moves through bundles, so isolated data prices not there. But what we see from our own experience is that the decline in pressure on the data prices is constant. So don't see any acceleration so far on the pressure rather being stable, but it's not accelerating on it, but of course, competitive price pressure is there. This is a highly competitive market, especially on the data side.

Thank you, Jens. We will wait just one more minute. If there are any last questions, requesting everybody to post them now. Okay. I do not see any other questions. So thank you, everyone, for joining in. If you have missed our Q&A session, feel free to reach out to me. We will get back to you as soon as possible. Thank you and take care.

Thank you.

Thank you, everyone.