QUARTER 2 BUSINESS PERFORMANCE REPORT Overview of

Transcript:QUARTER 2 BUSINESS PERFORMANCE REPORT Overview of:
QUARTER 2 BUSINESS PERFORMANCE REPORT Overview of performance against corporate KPIs Financial Performance Product and Network Performance Governance Internal Audit Management Letter Points Risk Management Enterprise Development Human Capital Development INTRODUCTION Performance against corporate KPIs Performance against corporate KPIs * In Quarter 2, eight KPIs are applicable and 6 out of 8 (75%) targets have been achieved Performance against corporate KPIs Performance against corporate KPIs Performance against corporate KPIs Performance against corporate KPIs Performance against corporate KPIs Financial Performance Financial Performance Q2 September 2016 TV revenue is below budget mainly due to DTT revenue not materializing as a result of optimization of the network. SW revenue is below budget due to Radio Lead Africa suspension, contract termination of TWR and no new revenue realised per our projected 8hrs/day additional sales. Financial Performance Revenue Per Service Product and Network Performance Product and Network Performance The priority activities for the Board during this quarter were: Annual General Meeting Recruitment of the CFO Board evaluation Consideration of the 2015/16 Annual Financial Statements and Annual Report Board and Board Committee meetings Compliance with statutory requirements SENTECH has achieved a clean audit for the fourth successive year. Governance Internal Audit Internal Audit is on track with the execution of its Annual Internal Audit Plan. SENTECH has enjoyed four years of unqualified audit opinion since 2012/2013. The following is a summary of progress against the 26 findings issued by the external auditors on 31 July 2016: Forty two percent (42%) of findings have been addressed, 31% are ongoing 27% are in progress. Management Letter Points (MLPs) Developments and emerging risks associated with our big customers are being monitored and mitigation strategies on managing these emerging risks are in place. The revenue assurance risks are being managed to ensure that all revenue due to SENTECH is collected. Management will continue to double efforts in implementation of all activities related to KPIs to reduce the risk levels. Risk Management SENTECH supported 13 SMMEs which in turn created 68 jobs and 5 internship programmes for young people. Four were offered grants to the value of R2.7 million that was used for equipment, IT systems, office infrastructure and training. Other SMMEs were in the Incubation programme amounting to R3.5 million. Enterprise Development Attracting African talent remained a key driver of our recruitment process. At top management levels 100% are black, 87% at senior management and 72% at specialists and middle