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Indosat records consistent growth for 10 consecutive quarters
Indosat Ooredoo Hutchison (IOH, IDX: ISAT), the most prominent digital telecommunications company in Indonesia, has announced strong financial results for the first half of 2023, driven by an increase in high-quality customers.
Change Size
Net profit of Rp 1.9 trillion and total revenue of Rp24.7 trillion in first half 2023
Indosat Ooredoo Hutchison (IOH, IDX: ISAT), the most prominent digital telecommunications company in Indonesia, has announced strong financial results for the first half of 2023, driven by an increase in high-quality customers. This success extends the positive trend of consecutive net profit growth achieved in 10 quarters, supported by continuously growing revenue.
Indosat reported a solid financial performance in the second quarter, with total revenue reaching Rp 24.7 trillion in the first half of 2023, showing a 10 percent increase, year-on-year (YoY) compared with the previous year. The strong revenue growth was contributed to by positive performances from all business lines of the company. Cellular revenue increased by 8.4 percent, multimedia, data communication and internet (MIDI) revenue grew by 15.7 percent, and fixed telecommunication services showed 25.9 percent YoY growth.
Through successful merger efforts, the company achieved a solid top-line performance by recording a strong 24 percent YoY increase in EBITDA, reaching Rp 11.4 trillion, with an EBITDA margin of 46.1 percent in the first half of 2023. The profit for the current period attributable to the owners of the parent entity amounted to Rp 1.9 trillion.
The continuous acceleration of the Company's digital transformation has enabled Indosat to maintain growth momentum and deliver an excellent financial performance. "We are delighted to report the Company's performance for the first half of 2023 with positive results. This achievement is the result of the hard work of all employees, supported by our partners and shareholders, in achieving our common goal of empowering Indonesia," said Vikram Sinha, president director and CEO of Indosat Ooredoo Hutchison.
The year 2023 presents its own challenges for IOH, as the successful merger prompted the company to swiftly integrate its networks with multi operator core network (MOCN) technology. IOH recorded 4 percent growth in total high-quality customers, amounting to 3.8 million YoY, reaching 100 million with an increase in the Company’s average revenue per user (ARPU) to Rp 35,800 in the second quarter and data traffic increased by 16.8 percent YoY, or more than 7,000 petabytes. All the service improvement was supported by more than 215,000 BTS in the first half of 2023, an increase of 8.5 percent YoY, with 167,000 being 4G BTS.
This article is published in collaboration with Indosat Ooredoo Hutchison
