TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Beat Market Expectation, IOH Continue Strong Growth in Q3 2022
Indosat Ooredoo Hutchison (IOH) has shown significant growth this year, based on its solid growth in total revenue and net profits in the third quarter.
Change Size
I
ndosat Ooredoo Hutchison (IOH) has shown significant growth this year, based on its solid growth in total revenue and net profits in the third quarter. The operational performance is in parallel with the company’s commitment to delivering the best digital experiences to connect everyone throughout the country.
"IOH showed a solid operational and financial performance in Q3 2022. We again recorded strong quarterly growth, thanks to the combination of two telecommunications service brands that complemented each other. The 2.4 million increase in IOH mobile subscribers in the third quarter of 2022 reflects public trust in our brands and motivates us to continue connecting and empowering every Indonesian," said Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison.
New data revealed an increase in the company’s EBITDA and total customers, compared with the same period in 2021. EBITDA rose by 35.6 year-on-year (yoy) from Rp 10.4 trillion to Rp 14.1 trillion in both nine-month periods, while the EBITDA for the third quarter specifically rose by 2.3 percent compared with Q3 2021. Meanwhile, total mobile subscribers grew by 2.4 million quarter-on-quarter (qoq) to 98.6 million, with an additional 1.8 million 4G users qoq.
It also recorded a net profit of Rp 3.7 trillion in the first nine months of this year. The company’s total revenue increased by 49.8 percent yoy from Rp 23.1 trillion to Rp 34.5 trillion in the same nine-month period. The total revenue for the third quarter alone increased by 3 percent to Rp 12.0 trillion, compared with Rp 11.7 trillion in the second quarter.
The increase is attributed to the growth in subscribers and data usage, powered by consumer brands IM3 and Tri. Both brands continue to complement and gain traction in their respective target segments.
After merging in early 2022, IOH officially became the second-largest telecommunications operator in Indonesia. The merger also brought an opportunity to integrate the network with multi operator core network (MOCN) technology. Currently, the network integration has reached more than 50 percent of the total target of around 43,000 sites, which will largely be completed at the end of 2022. After the integration process is completed, IOH customers are expected to gain wider network coverage, better indoor service and a faster internet experience.
Moreover, IOH launched Indosat HiFi in the third quarter of 2022. It is a fiber-to-the-home (FTTH) internet connection service to satisfy the need for reliable cable internet for homes and offices. IOH, through Indosat Business, also launched the IDE platform to support the development and digital transformation of MSME players in Indonesia, a campaign known as #BeraniJadiBesar, loosely translated as Dare to be Big.
"We will continue to provide a marvelous experience for our customers in line with IOH's strategic vision to become Indonesia's most preferred digital telco company. Moreover, we also continue to focus on accelerating the synergy process and improving cost efficiency, as well as creating more value for our shareholders," Vikram concluded.
