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QTel Model Notes Navigation of the Model Worksheet Name Specific Data Used Description wrk8.

Cost of Landing TGN wrk7.CLS old wrk7.CLS Total cost Total annual depreciation Capex figures Cell Reference C118 H118 Where data from this worksheet is used Worksheet Cell Reference wrk7.CLS F8 wrk7.CLS G8 Information Only 1b 2012 Intl E154:G158 Txm Projn Hard Coded in original? Hard coded end? Yes No, linked No, linked

Yes Yes

F5:H9

Uplift figures for IN28 Total Capex and total depreciation Subtotal of capex and depreciation wrk6. FixAsset 2012 Purchase cost in dollars Depreciation charge and NBV of submarine cables Purchase cost, NBV and depreciation for two investments Internet Access Costs Internet charges

F8,G8 F9, G9

1b 2012 Intl Txm Projn 1a Intl Txm Cost Summary 1a Intl Txm Cost Summary 1b 2012 Intl Txm Projn 1b 2012 Intl Txm Projn

F30, G30 F8, L8, Q8, V8, AA8

F7, G7

D8, J8, O8, T8, Y8

Various rows in column AC E82:E91

D92:D104

C140:D148

Derived as the sum of hard coded data on same sheet No, linked from wrk8 Summed from hard coded data on sheet Summed from hard coded data on sheet Derived from hard coded data Summed from hard coded data Derived from hard coded data

No, linked No, linked

No, linked

No, linked No, linked

Y76:AC77

1b 2012 Intl Txm Projn

B164:F166

No, linked

wrk4. 2012 Cable System Routing

Columns AW and AV AV64

wrk1 Capacity Usage 1b 2012 Intl Txm Projn 1b 2012 Intl Txm Projn wrk2.Input 2 wrk2.Input 2 1b 2012 Intl Txm Projn

AW28:AW108

D54

Average capacity wrk3 Input 1 60xxx and 61xxx for 2009 and 2010 Uplift %

AZ64

D8, D55

G26:H39,N26:O39

Z2, Z3

G1

S2

wrk2 Input 2

PAY Uplift

Colums A, R, S rows 6-100

G23:G49

Derived from hard coded data Derived from hard coded data Derived from hard coded data Derived from hard coded data Derived from hard coded data Derived from hard

No, linked No, linked No, linked No, linked No, linked No, linked

wrk1 Capacity Usage

Internet % share

B12:K21 (H12:20)

1b 2012 Intl Txm Projn 1a Intl Txm Cost Summary 1a Intl Txm Cost Summary 1a Intl Txm Cost Summary

K61:K68

Internet Backhaul Cost STM1 Equivalent Admin Cost Total capex, total depreciation, total , internet access codes Share of cost for internet Yr on Yr Costs 1d 2012 Intl Txm Projn 1c 2011 Intl Txm Projn 1b 2012 Intl Txm Projn (Detailed Summary) 1a Intl Txm Cost Summary (Headline figures)

AX103

F6

N28:N102

D17:E57

AU103, AW103

AV103,

L6, Q6, V6, AA6

H12:H20

1b 2012 Intl Txm Projn

J90:J104

coded data Derived from hard coded data Derived from hard coded data Derived from hard coded data Derived from hard coded data, linked from wrk4 Derived from hard coded data

No, linked No, linked No, linked No, linked

No, linked

Information Only Information Only Cost of Internet Transmission L18, N64, L27, D62, L19:L45 1a Intl Txm D66:D69 Cost Summary Derivations below Derived from hard coded data No, linked

Main summary page

Description of Worksheets wrk8. Cost of Landing TGN This worksheet uses hard coded data for the total cost of landing the TGN cable at Al Kheesa coast station. The depreciation and total cost are used in wrk7.CLS, although the total cost figure is not linked to this sheet but is hardcoded (I think it should be linked). provides the total Cost of landing the TGN cable at Al Kheesa coast station and the derived depreciation charge for 2012, as input to the CLS Cost calculation in WS 'wrk7.CLS'. wrk7.CLS This worksheet derives the Total CLS land and building costs allocated to Internet (IN28). It uses the cost of landing the TGN cable at Al Kheesa coast station as derived in wrk8. These figures are then used in 1b worksheet section 8. The deprecation and capex costs for TGN cable at Al Kheesa coast station pasted on this sheet are also used in 1b worksheet when calculating BS and IS uplift in section 2 (although the depreciation and capex costs originally come from wrk8). Subtotal and total capex and depreciation figures from this sheet are also used in the 1a worksheet for scenarios of 2012 annualised cost.

provides calculation of the annualised cost of three Cable landing stations (CLS) in operation in 2012, as input for the main calculation in WS '1b. 2012 Intl Txm projn. wrk6.FixAssets Purchase cost in dollars from this worksheet is linked through as one time investment capex in section 5 of 1b worksheet. Data regarding the depreciation and NBV of submarine cables is also used in section 7 of 1b worksheet. The purchase cost, depreciation and NBV data for two investments are used in section 9 of 1b worksheet to derive the incremental cost of 2 new IRUs. calculates the aggregate average balance of NBV and depreciation charge broken-down by cable system. wrk4. 2012 Cable System Routing This sheet derives the total Full Year Admin lease + IP Port charges which is used in 1b worksheet to calculate the internet access cost (uplift estimate) in section 3. Average capacity data is also derived on this worksheet and is used in both sections 1 and 3 of worksheet 1b. provides the calculation of 2012 Internet Access Costs (including IP Port charges and local tails, etc) and average bandwidth usage broken-down by cable system. wrk3 Input1 This worksheet provides inputs to the worksheet wrk2. Data titled 60xxx and 61xxx for 2009 and 2010 and derived in this worksheet and then appear in wrk2 to check uplift. wrk3 also provide a cumulative uplift % which is also used in wrk2. provides the calculation of the overall percentage increase of total PAY cost (staff cost) of the International capacity planning and technical team for year 2010 over 2009. wrk2 Input2 Calculates non PAY and PAY uplift which is used in sheet 1b in section 2. provides the workings for uplift of only Pay cost and Non pay cost to 2012 level. wrk1. Capacity Usage This worksheet calculates internet % share for the 2012 sub cable driver, which is used in worksheet 1b in two sections. This worksheet also derives internet backhaul cost and STM1 equivalent admin cost which flow into 1a worksheet. provide the relevant % capacity usage for Internet service, which is used as a basis to allocate an appropriate portion of the global submarine cables costs. 1c 2011 Intl Txm Projn This worksheet derives annual costs and cost per month for 2011, which allow a comparison to be made between 2011 and 2012 costs in worksheet 1a. provides a snapshot of the main calculation of 2011 International Transmission cost. 1b 2012 Intl Txm This worksheet provides a breakdown of the major cost elements.

Section 1 Volumes STM1s volume of STM1s equal to average capacity (linked from wrk4). In the calculation they first derive weighted average bandwidth in E1s by multiplying average bandwidth by 63 (hard coded). This figure is then divided by 63 to give the number of STM1s. Mean capital employed This is given as a sum of capital employed from two network components. For the network component IN28, mean capital employed is the sum of the BS(+RO) column, minus cable landing station costs. The cable landing station costs consists of total capex (taken from section 8) and BS(uplift) figure (cell F30) which is the cost of landing TGN cable at Al Kheesa. In fact both of these figures are in the table in section 8, but the BS uplift figure has been linked back to wrk7 via cell F30. For the network component IN97, mean capital employed is solely the sum of the BS(+RO) column. The data in the BS(+RO) column is the sum of hard coded data from the Sum of BS and BS Uplift columns. Capital Cost Mean capital employed multiplied by the WACC. WACC is hard coded. Operating Cost Including Royalty For the network component IN28 including royalty, operating cost is the sum of IS(+RO) column minus the sum of total depreciation (depreciation of land, buildings and the TGN cable at Al Kheesa). The depreciation cost is linked (indirectly) from wrk7, although again these figures could be linked to the table in section 8 on the 1b sheet. The operating cost for the network component IN97 including royalty is solely sum the column IS(+RO). The data in the IS(+RO) column is the sum of the Sum of IS column and IS Uplift column, although some numbers are also linked to section 5 of sheet 1b. o The IS uplift column contains several different formulae for the rows. Some figures are the product of hard coded Sum of IS column and the uplift % in D53, which is taken from the cable routing sheet. o Another entrant (10,924,372) is from the uplift amount for submarine cables, which comes from the Capacity usage sheet and is shown in section 4 of 1b. o Section 5 of the 1b sheet also provides another input to the IS Uplift column. This is the uplift cost for O&M (3,707,003). o The remaining numbers in the IS Uplift column are found in wrk2, and are the sum of the Non Pay uplift and Pay uplift columns in the wrk2 sheet. Excluding Royalty For the network component IN28, the operating cost excluding royalty is the operating cost including royalty (above) minus the IS(+RO) values for the cost lines titled Royalty/Industry in rows 35 and 47. For the network component IN97, the operating cost including royalty (above) has the IS(+RO) values for the cost lines titled Royalty/Industry in rows 35 and 47 deducted. Total Costs Again split according to whether they include royalty or not Total costs sum capital cost and relevant operating cost for each network component Yearly cost per EI

Divides total of total costs (i.e. the total cost for IN28 network component + total cost for IN91 network component) by weighted average bandwidth of E1s (described in volumes bullet point). Monthly cost per Mbps (in QAR) Divides yearly cost per EI by 12 and then by 2 (both hard-coded) Monthly cost per STM1 (in US$) Divides monthly cost per Mbps (in QAR) by 3.6415 (hard-coded, but it is the exchange rate for converting QAR into US$) then multiplies by 2 then 63 (both hard-coded) CLS monthly cost /STM1 Divides cell H158 in section 5 by the number of STM1s (derived in volumes bullet point). Cell H158 is the total annualised cost of cable landing divided by 3.6415 (exchange rate to change QAR into US$) and then divided by 12. This gives the per month cost in $. This figure reflects the 3 CLS in operation in 2012; Sumaisma, Al Kheesa & Wakra Total monthly cost /STM1 This is the sum of the monthly cost per STM1 and the CLS monthly cost per STM1

The tables to the right of the main table in section 1 contain hard coded data, and offer alternative values for total operating costs.

Section 2 Derivation of this table is explained in mean capital employed and operating cost bullet points. Above the table are totals which copy the total capex and depreciation costs from section 5, which are used in the mean capital employed and operating cost calculations.

Section 3 Section 4 Section 5 Uses data from Fixed Asset register tab Calculates uplift for 2012 for O&M costs, which is fed through into the IS (Uplift column) This section uses the share of internet %s also used in section 4, which come from capacity usage sheet. Share of O&M for internet is calculated also which feeds into the IS(+RO) column and is used in operating cost calculations Calculates uplift amount for depreciation charge (L57) of submarine cable costs which are hardcoded, apart from the %s in column K, which come from the capacity usage sheet. The uplift amount is then used in the IS (Uplift) column, which is used to calculate operating costs Also calculates an uplift amount for NBV (M57) which is used in the BS (Uplift) column Brings internet access charges in from wrk4 sheet, which is used to calculate uplift % The uplift % is then used in the IS(+RO) column (see bullet point 5 under operating costs)

Section 6 Section 7 Calculates 2009 submarine costs which feed into section 4 Data is hard-coded

Section 8 Section 9 -

Calculate submarine cable system figures from fixed asset register, which feeds into section 4

Derives cable landing costs for 2012, which are used in section 2 The data is linked through to wrk7

Information only? I cant see where it is used on the rest of the sheet

1a Intl Txm Cost Summary Section 1 presents the headline view of total costs. Those costs for 2009 are sourced from the 1b and CLS worksheet, whilst the 2012 costs are derived on the sheet in section 2. Section 3 uses data from 1c worksheet to provide a cost comparison to 2011. This worksheet has a series of scenarios, which change due to the WACC This WS provides high level analysis of 2012 International transmission costs (anualised cost + wacc). Notes The Explanatory Notes sheet provides information on each worksheet (Ive included parts of this in italics) Ive ignored cells which are linked to other sheets purely to be used as check