In a virtual performance update open to the media, Indosat Ooredoo booked revenue growth of 12.6 percent year-on-year (yoy) to Rp 7.3 trillion. Cellular revenue increased by 12.5 percent yoy to Rp 6 trillion, while fixed data revenue showed strong growth 15.8 percent to Rp 1.16 trillion.

At the same time, the enterprise sector has shown signs of recovery, with Indosat Ooreedoo’s enterprise revenue growing by 17.1 percent yoy to Rp 1.3 trillion.

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 42.5 percent yoy to Rp 3.4 trillion. The report attributed the rise to the combination of top-line growth and cost efficiency, contributing to growth in the EBITDA margin of 9.7 percent yoy to 46.2 percent in Q1 2021, the highest point in the past seven quarters.

Indosat president director and CEO Ahmad Al-Neama said in a statement that despite the operational challenges caused by COVID-19, the company had given a satisfactory performance to open 2021.

“Our growth momentum is continuing to take shape, reflected in our double-digit revenue growth, a solid EBITDA performance, as well as booking a net profit. This performance for the first quarter of 2021 is our new benchmark for our future financial performance,” he said.

Ahmad explained that Indosat Ooreedoo’s strategy of providing simple and relevant products alongside maintaining its network excellence had boosted the company’s strong rebound and position in the cellular market,

“I would like to thank our loyal customers and stakeholders for their support, as this has motivated us to book this amazing result. We are committed to ensuring connectivity and availability for our products and digital services that Indonesia needs during these tough times, and to accelerate Indonesia’s transformation into a digital nation.”

Overall, Indosat Ooreedoo booked a net profit of Rp 172 billion in Q1 2021, an increase of Rp 778 billion compared with the same period last year. It also grew its customer base by 7 percent yoy to 60 million, with its average revenue per user (ARPU) increasing by 11 percent yoy to Rp 32,700 thanks to a strong 46 percent growth in data traffic compared with the same period last year.

Also in Q1 2021, Indosat Ooredoo announced the signing of a sale and leaseback agreement with PT EPID Menara Asset Co (Edge Point Indonesia) for more than 4,200 telecommunications towers. The Rp 11 trillion transaction will provide the necessary capital for Indosat Ooreedoo’s growth through further development on its network performance alongside launching innovative digital solutions to increase user experience.

Further development in its network was also shown through continued 4G investments, adding 14,000 4G BTS throughout the year.

Alongside a stellar financial performance, Indosat Ooreedoo also focused on its responsibilities, especially throughout the pandemic.

Indosat Ooreedoo director and COO Vikram Sinha said that the company understood the scope of its role, with employees being its number one priority.

“We were one of the first companies to move to working from home in March, and we continue to do that without losing any of our productivity,” he said, adding that employees’ mental health was taken into consideration.

At the same time, Indosat Ooreedoo has also provided discounted data and voice tariffs and partnered with the government to provide free mobile data to students. It also partnered with the United Nations Development Programme (UNDP) to provide support for Indonesia’s sustainable development goals and COVID-19 response.

Indosat Ooreedoo also received acknowledgements for its performance, with the company dubbed the sixth fastest growing telco in brand value globally by the Brand Finance Telecoms 150 2021 Report, highlighting a 31 percent brand value increase in 2020.

The company also received several awards in the first quarter of 2021, namely the gold winner of CSR Sustainability Business for its Indosat Digital Camp, silver winner for the Social Media category, and the Most Popular in Printed Media award at the 2021 Public Relations Indonesia Awards.

Also adding to its accolades is IM3 Ooreedoo winning the Silver Champion for the Cellular Operator category at the 2021 Indonesia’s Wow Brand awards by Markplus.

This article is joint collaboration between The Jakarta Post and Indosat Ooredoo

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