Telkom Will Distribute 80 Percent Dividend From Net Profit?

Photo: Didi Kurniawan/VOI

JAKARTA - The telecommunications company PT Telkom Indonesia (Persero) Tbk (TLKM) plans to propose dividend distribution with a ratio of up to 80 percent of the net profit for the 2022 financial year at the Annual General Meeting of Shareholders (AGMS) which is planned to be held on May 30, 2023.

VP Investor Relations TLKM Edwin Sebayang said the ratio was proposed given Telkom's strong cash condition and the company's debt began to decline.

"The consideration is because we have strong cash, then we see that we have a debt that is decreasing. So by providing proposals like that, we will also not be disturbed, and our debt equity ratio will decrease, so we are quite comfortable providing such dividends," he said, in Jakarta, Thursday, May 25.

In 2022, Telkom recorded revenue of IDR 147.3 trillion until the end of 2022. This revenue increased 2.86 percent year on year (yoy) compared to the same period the previous year of IDR 143.21 trillion.

TLKM's revenue was driven by cellular phone revenue of Rp12.05 trillion, telephone did not move Rp1.53 trillion, data revenue, internet, and information technology services of Rp69 trillion, and Indihome's revenue of Rp28.02 trillion.

Although income rose, TLKM's operating profit fell to IDR 39.58 trillion in 2022, from IDR 47.56 trillion in 2021. The decline in operating profit was due to unrealized losses from changes in the fair value of investment, which was IDR 6.43 trillion, from the previous profit of IDR 3.43 trillion on an annual basis.

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The amount of loss that has not been realized from the change in the fair value of Telkomsel's investment in PT GoTo Gojek Tokopedia Tbk (GOTO) as of December 2022 is IDR 6.74 trillion, presented as an unrealized loss from the change in the fair value of investment in the consolidated loss profit report.

With this performance, TLKM recorded a decrease in net profit to IDR 20.75 trillion in 2022. This net profit decreased 16.18 percent compared to the same period in 2021 of IDR 24.76 trillion.