Revenue Grows 3.7 Percent, Telkom Earns IDR 6.3 Trillion Net Operating Profit

JAKARTA - At the end of the first quarter of 2024, PT Telkom Indonesia (Persero) Tbk (Telkom) posted consolidated revenues of IDR 37.4 trillion or grew 3.7 percent (year on year/YoY).

One of the factors driving this achievement is the growth in data business performance, Internet & IT Services worth 11.3 percent YoY to IDR 22.1 trillion.

Positive notes are also found in the company's Profits Before Interest, Tax, Depreciation, and Amortization (EBITDA) of IDR 19.4 trillion or grew 2.2 percent YoY with a stable EBITDA margin in the range of 51.9 percent.

Meanwhile, the company recorded a net profit of IDR 6.3 trillion or a positive growth of 3.1 percent with a margin of 16.9 percent.

This shows the company's satisfactory performance in the midst of increasingly challenging industrial conditions.

"Alhamdulillah, the company's performance is still going quite well, even though the condition of the industry is full of challenges and global geopolitical turmoil which has a big influence on macroeconomic conditions, including the performance of Telkom's shares," said Telkom President Director, Ririek Adriansyah, quoting a written statement, Monday, April 22.

However, he continued, Telkom is optimistic that what is being done at this time will provide positive output for the company's sustainability in the future.

"We will continue to run our business by focusing on strengthening digital connectivity, digital platforms, and digital services," he said.

In the Mobile segment, Telkomsel as a subsidiary of Telkom posted a positive income of IDR 28.5 trillion with a healthy level of profitability. This is supported by digital business growth of IDR 19.7 trillion or growing 8.6% YoY.

Data traffic also increased quite well by 14.4 percent YoY to 4,823,809 TB.

Telkomsel continues to focus on market share productivity with the number of mobile subscribers reaching 159.7 million or growing 5.7 percent YoY and IndiHome residential (B2C) customers 8.9 million by the end of March 2024.

In order to strengthen the position as the dominant player in the aspect of connectivity and service quality, Telkomsel currently has 257,349 Base Transceiver Stations (BTS), consisting of 207,671 4G BTS and 710 5G BTS.

In the Enterprises segment, the company recorded performance of IDR 4.5 trillion with B2B Digital IT Services and Enterprise Connectivity services as the main contributor to revenue.

Telkom continues to strengthen capabilities in the Cloud, Digital IT Services and Cyber Security businesses, including establishing strategic cooperation with global technology players.

Furthermore, the Wholesale and International segments recorded revenue of IDR 4.8 trillion or grew 17.8 percent YoY contributed growth to the international wholesale voice service business and digital infrastructure business.

Until the end of March 2024, TelkomGroup's data center and cloud business posted revenue of IDR 449 billion or grew 24.6 percent YoY.

In the telecommunications tower business, Mitratel recorded revenue of IDR 2.2 trillion or grew 7.3 percent YoY, driven by tower rental income.

EBITDA and net profit grew by 9.9 percent and 4 percent YoY with a better margin of 83.5 percent and 23.6 percent, respectively.

During the first quarter of 2024, Mitratel added 121 new towers, bringing the total tower ownership to 38,135 towers with a fairly good tenancy ratio from 1.46x in 2022 to 1.52x at the end of March 2024.