Indosat Ooredoo Hutchison (Indosat or IOH, IDX: ISAT) today announced its results for the first half of 2024 (1H2024), continuing to deliver a robust financial and operational performance. In 1H2024, Indosat maintained its double-digit growth  trajectory in total revenue, which increased by 13.4 percent year-on-year (yoy) to Rp 27,976.3 billion.  Indosat recorded an impressive EBITDA that grew faster than revenue, increasing by 17.8 percent  yoy to Rp 13,412.2 billion, while the EBITDA margin stood at 47.9 percent in 1H2024, highlighting the company’s ability to convert revenue into earnings efficiently. This profitability underscores  Indosat’s solid financial health and its capacity to generate substantial returns for stakeholders. With these notable results, Indosat delivered a Profit for the Year Attributable  to Owners of the Parent of Rp 2,734.7 billion, which rose by 43.3 percent yoy and remained positive for more than three consecutive years.

“The results we recorded in the first half of 2024 prove our meticulous strategy to propel the Company forward. Our remarkable performance reflects our dedication to creating sustainable value for all Indosat’s stakeholders and empowering Indonesia’s digital economy.  We continuously enhance our network to ensure seamless connectivity and an exceptional experience for customers across the Nation. Simultaneously, we have intensified our focus on operational excellence and efficiency, enabling us to deliver strong revenue growth while  further improving profitability. Additionally, our accelerated journey towards becoming an AI Native TechCo showcases our commitment to leveraging cutting-edge technology to drive innovation and future growth,” said Vikram Sinha, President Director and Chief Executive Officer of Indosat Ooredoo Hutchison.

Indosat’s customer base increased by 900,000 new customers, reaching 100.9 million subscribers at the end of 1H2024. This growth contributed to a commendable increase in data  traffic, which rose 13.4 percent yoy to 7,965 Petabytes (PB). Indosat continued to make strategic  investments in enhancing its network infrastructure. Capital expenditure (Capex) in 1H2024 amounted to Rp 4,520.6 billion, of which approximately 89.8 percent was allocated to Cellular to support data services growth demand, while the remaining balance was allocated to MIDI and IT.

As part of strengthening its core business, the Company operates approximately 188,000  4G BTS, adding around 22,000 4G BTS during the first half of 2024. This significant expansion is complemented by the deployment of 103 5G BTS, underscoring Indosat's commitment to advancing its network infrastructure. By enhancing its coverage and capacity, Indosat ensures an elevated customer experience that fosters greater customer loyalty and satisfaction. These efforts have directly contributed to a notable 10.5 percent year-on-year increase in Average Revenue Per User (ARPU) for cellular customers, now reaching Rp 37,900. This growth in ARPU is a testament to the Company's strategic initiatives to deliver superior

This article is published in collaboration with Indosat

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