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IOH reports tremendous growth within first quarter of 2022
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Vikram Sinha, CEO of Indosat Ooredoo Hutchison. (Courtesy of Indosat)
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ndosat Ooredoo Hutchison (IOH) reported strong financial results for the first quarter of 2022, earning Rp 10,873 billion (US$750.1 million) and EBITDA growth by 29.1 percent year-on-year (yoy) as a result of its increasing customer base, product innovations, effective merger integration and cost controls.
The company’s customer base expanded from 34.6 million to 94.6 million yoy, while its data traffic grew by 98.5 percent. Net profit attributable to its owner and/or parent company is recorded at Rp 129 billion, while its EBITDA margin stood at 40.3 percent at Rp 4,380 billion yoy. The aforementioned total revenue is also a 48 percent increase compared to its previous period before the merger.
“These results reflect that we are delivering upon the merger proposition that we envisioned for IOH. Our enhanced scale, financial strength and capabilities will enable us to accelerate Indonesia’s economic growth and transformation into a digital society. We have hit the ground running and will remain focused on realizing the benefits from synergies as we continue to integrate our network and teams while innovating world-class digital telco experiences for our customers,” said Vikram Sinha as president director and CEO.
The company rapidly carried out pilot projects on integrating its networks with the Multi-Operator Core Network (MOCN) technology upon the completion of its merger, which will immediately offer world-class digital telecommunication services with better network speeds and coverage to customers. Integration for its employees have also been done, completing as much as 20 percent of its 9-quarter strategy, creating synergies that are exceeding targets.
Moreover, they are also putting forth their promise through corporate social responsibility initiatives. IOH launched the sustainable community empowerment program in Mandalika, focusing on the welfare of local communities and MSME players through capital assistance. They’ve launched two initiatives utilizing the company’s digital loan platforms; UCan in collaboration with QNB Indonesia, and Bima Kredit with Maucash.
IOH has implemented strategies to strengthen its partnership with global partners at the last Mobile World Congress to implement technology innovations in the future. After the merger, they have grown rapidly as Indonesia’s second-largest telecom business. The company strives to put superior customer experiences by innovations at the helm as its core.
With its bigger scale and strength, IOH is better positioned to drive innovation and provide world-class digital experiences and services for Indonesia. In the long term, it is expected that the company will support the government in providing equal access to digital technology in Indonesia by strengthening its network infrastructure with an additional 11,400 new sites and expanding network coverage to 7,660 new villages throughout the country, which is targeted for completion by the end of 2025.
