Good morning, everyone. Welcome to Grameenphone's earnings disclosure for the third quarter of 2023. My name is Aleef Pasha, and I'm the Head of Investor Relations. And with me today are our CEO, Mr. Yasir Azman, and our CFO, Mr. Jens Becker. Please note that the presentation we are sharing today financial statements, along with other additional documents are available on our Investor Relations website. You can start by posting questions and we shall address them at the end of the presentation. In case you are unable to post your questions due to technical reasons, please send them to me via e-mail or text. I will now welcome our CEO, Mr. Yasir Azman, to start our presentation.

Thank you, Mr. Aleef Pasha, and good morning, everyone. I'm Yasir Azman, Chief Executive Officer of Grameenphone, and thank you for joining us for our Q3 2023 earnings call. As reported by our regulator, till August 2023, the telecommunications industry reported 188.6 million subscribers increasing by 3.5 million subscribers from May 2023. And during the same period, mobile data users increased by 4.2 million, and it is reaching to 119.8 million in August 2023. Now I'm moving on to some of the key business highlights for the quarter. Our continuous steps to simplify our data portfolio has not only enhanced customer convenience, but also allowed us to optimize pricing effectively, resulting in 8.5% year-on-year growth in average revenue per users in this quarter. In addition, our industry fast initiatives, showcasing our innovation and leadership in the competitive landscape. I will delve into the details of this milestone shortly. We have made significant strides in transforming the user experience through the power of artificial intelligence and machine learning. By enabling AI/ML personalization for our customers, we are tailoring our services to meet their unique needs and preferences. This not only enhances our customer satisfaction but also ensure that our services continue evolving with the cutting edge technology. While this is helping us to build personalized offers at different context for our customers' lifestyle and life cycle, it has actually, for us, resulted in 2 days' additional revenue generation for our customers in a month and 13% higher ARPU while these customers are using MyGP, our flagship app distribution channel. Our reports in network expansion and investment have boosted our 4G subscribers base growing 16.5% year-on-year, which has played a critical role in driving our growth. On the regulatory front and since Q2 of this year, Grameenphone has been in constructive dialogue…

Thank you, Azman, and good morning, everyone. Let me start with a short overview of the key financial KPIs. Grameenphone continued its solid financial performance in Q3 with the continued growth in top line and EBITDA amidst the rising inflation and other macroeconomic challenges. Continuous network coverage expansion and spectrum deployment to improve the network experience, along with customer-focused market activity resulted in a 6% year-on-year growth in subs and traffic revenue after 5.3% growth in the previous quarter. In addition, Grameenphone continues to drive operational excellence, along with top line growth, resulted in a year-on-year 5.7% EBITDA growth in Q3, while maintaining an EBITDA margin at 61.9%, which was 61.1% in the previous quarter. With our continuous investment effort, Grameenphone CapEx to sales ratio, excluding licenses and leases for the quarter stood at 14% based on the fourth quarter moving average. For the quarter, EPS stood at BDT 5.53 was an 18.2% NPAT margin. Turning to the sub base. Our sub-base growth continued with 0.8 million net adds during the quarter. The reported sub base at the end of the quarter stood at 82 million with 0.9% growth from the previous quarter and 0.3% growth from last year. On the other hand, data sub growth continued with 1.4 million data sub additions. During the quarter, in Q3, the data sub stood at 47.5 million with a quarter-on-quarter 3% growth and year-on-year 4.3% growth. With our continued efforts to improve the 4G network performance, Grameenphone's 4G data sub reached 37.2 million with a year-on-year 16.5% growth. According to BTRC published information, as of August, GP subscription market share stood at 43.5%, which is 0.2 percentage points lower compared to last quarter. We delivered 10 consecutive growth -- quarter of growth in total revenue and daily subscription and traffic revenue. During…

Thank you, Jens, to summarize and reinforce the Q3 2023. We registered continued growth momentum in both revenue and EBITDA supported by data segment. It's a very challenging macroeconomic environment, of course. Contributors mainly included growing ARPU of our subscriber because of higher data usage and new services and of course, our strong strength in market execution. Our efforts in network expansion and investment and transforming the user experience has strengthened our position as the #1 network in the country. And we continue to focus on meeting our customers' unique needs to simplify data portfolio, which has been a key focus area for the year, personalized offers where we have built cutting-edge technological advancement and advanced digital capabilities, which has driven higher data usage by our customer retention in our network as far as the number of days there into network, and as we mentioned, especially when in the digital channels, higher usage. While customers remain at the core of our business, ensuring health, safety and security remains a priority for us throughout the year, throughout the value chain in Grameenphone. Thank you, everyone, once again. I will now hand it back to Aleef for a Q&A session. Thank you.

Thank you, Azman bhai. We have a couple of questions which have actually come in. So the first one, I will pass to Azman bhai. Sub base has finally returned to growth. Have you recovered from the SIM ban?

Yes, it's indeed that sub base has finally returned to the growth as far as the Q3 exit last year concerns. However, as you understand, that SIM ban started at the end of Q2 last year, which means we have a higher base. We have not reached that base of 84.6 million yet. However, considering the Q3 last year, we are now having growth in subscriber base.

Thank you, Azman bhai. The next question is for Jens. Why is a bundle revenue falling?

Yes. I think I have briefly touched it in my speech as well, but rather focusing on the specific revenue streams, always focus is on customer evolving needs and products are designed based on those needs. Consequently, the revenue is generated from that stream. During the quarter, Grameenphone introduced personalized bundle offers in both the physical and as well as the digital channels, which were only focusing on the specific customer bundle offer demands.

Okay. We have a couple of questions. I'll summarize together. It's based on data usage. So we have seen data usage significantly grow over the quarters, in Q1. Now in Q3, it seems to be stagnant over Q2. What is the reason?

Yes, let me take this, Aleef. So the 7 gigabyte data usage per user, we consider a milestone for the industry and GP had achieved this in the last quarter. And this is the highest data usage as per usage in the industry, as I mentioned, based on Q2 published information. In Q3, GP's data users are still maintaining this usage at 7 gigabyte, which is supported by our continuous efforts to improve data network experience.

Okay. Thank you, Jens. Finally, we have another one for you, Jens. After 3 quarters of high CapEx, why is it so low this quarter? I believe it must be 2 quarters, but why is it low so this quarter? Is this related to ForEx?

I think this is basically a timing variance. In 2022, GP invested BDT 17.3 billion for CapEx, whereas we already invested BDT 16.8 billion for CapEx as of Q3. In 2023, there was higher CapEx spending in the first half to improve the network performance through coverage expansion and deployment of new spectrum.

Okay. Thank you, Jens. And we have a very generic question. So this -- probably Jens can take a bit and then maybe Azman bhai can also add. Could you please explain the reasons that caused the difference between Q2 and Q3 earnings?

Q2 and Q3 earnings?

Yes. So I believe the question is very generic. So I mean, it's pretty much covered in our entire Q3 earnings call, but maybe just an overview would be okay.

Yes. I think it probably refers to the growth rates, I assume. And this is basically driven, as I mentioned in the presentation. We have on the earnings for this Quarter 2 impacts. One is the higher depreciation, which comes from the -- especially from the spectrum that we started in Q4 last year. This is, one, for the higher depreciation. And then we have taken some tax provisions as there is some -- in some areas, a lack of clarity on the new Income Tax Act 2023. And here we are waiting for clarification from NBR in this regard and have taken tax provisions for this so far. I think that's the basic difference when it comes to earnings.

Guess pretty much that's about it. We don't have any more questions. If we can wait for another 30 seconds to see if anything else comes in. No, I believe that's all for this quarter. So Jens, Azman bhai, thank you very much. And to everyone who has joined, thank you as well. Since there are no other further questions, we will close for today, but please feel free to reach out to me later if required via e-mail or text. Thank you, and goodbye.

Thank you, everyone.

Everyone, thank you.