XLSmart Records Revenue Up 38 Percent To IDR 11.47 Trillion In The Third Quarter Of 2025

JAKARTA PT XLSmart Telecom Sejahtera Tbk (XLSMART) recorded a strong performance in the third quarter of 2025 with double-digit growth.

XLSMART managed to record revenue of IDR 11.47 trillion, up 38 percent compared to the same period last year, and recorded EBITDA of IDR 5.40 trillion or grew 24 percent (YoY).

Meanwhile, the company's net profit jumped 288 percent (YoY) to Rp1.15 trillion, driven by post-merger positive momentum between XL Axiata and Smartfren.

XLSMART President Director & CEO Rajeev Sethi stated that data and digital services remain the main support, contributing more than 89 percent of total revenue during the first nine months of 2025 which has exceeded Rp30.57 trillion.

The third quarter of 2025 is an important phase for XLSMART when we start realizing the value of post-merger consolidation and integration. Despite facing sustainable industrial challenges, we managed to achieve solid growth, driven by strong post-merger momentum," he said in his statement, Thursday, November 13.

He added that the increase in the number of customers and average income per user (ARPU) showed the company's monetization strategy was effective.

Rajeev explained that the network integration process went according to plan and had a real impact on service quality. As a result, customer download speeds increased by 71 percent, while Smartfren network coverage extends 38 percent.

According to him, financially, revenue in the third quarter of 2025 which grew by 38 percent (YoY), as well as EBITDA and post-tax profit (PAT) showed a positive trend despite the cost of integration once, but this result reflects the company's resilience and fundamental strengthening.

"We are also on the right track to realize the post-integration synergy worth around USD 150 million by 2025," he said.

Rajeev added that several initiatives have shown results such as consolidation of service centers and monitoring, strong collaboration with network and tower partners, as well as optimization of network sites and assets. This step significantly increases the operational efficiency and competitiveness of XLSMART in industry.

In the third quarter of 2025, XLSMART has 79.6 million subscribers with an average APPU of IDR 39 thousand, up double digits compared to the previous quarter.

He added that the increase in ARPU is also in line with improving customer experience thanks to effective network integration.

In terms of operations, Rajeev said that the operating expenses increased due to the process of integration and expansion of the business scale, especially in sales commissions, infrastructure, and regulatory costs. However, advertising and promotion costs were recorded to have decreased compared to last year.

Rajeev added that XLSMART's performance was supported by three main business pillars, namely Mobile, Enterprise, and Home.

- In the Mobile segment, customer growth remains strong with the support of three main brands: XL, AXIS, and Smartfren. The number of active users of the MyXL, AXISNet, and mySmartfren apps is 39.1 million, growing 21 percent YoY.- In the Enterprise segment, XLSMART for Business services continue to grow through integrated digital solutions, including the launch of ESTA (Entreprise Smart Technology & Automation) for IoT, cloud, and cybersecurity services.- In the Home segment, XL One strengthens its position as a leading home broadband provider with a customer base of nearly one million households.

Financially, XLSMART maintains a healthy position until the end of September 2025, with a gross debt of IDR 22.50 trillion and a net debt to EBITDA ratio of 3.27x.

In addition, XLSMART's net debt was recorded at IDR 21.14 trillion and the company did not have a debt in the US dollar denomination.

He added that around 84 percent of loans have floating interest rates, while 16 percent of interest rates are fixed and the company also recorded free cash flow (Free Cash Flow) of IDR 9.41 trillion, up 23 percent.

XLSMART continues to invest in improving network quality and customer experience, with capital expenditures (Capex) reaching around IDR 4.26 trillion by the end of September 2025.

He added that the ongoing network integration process showed good progress, resulting in increased download speed, more efficient traffic management, and wider service coverage across integrated networks.

Rajeev said XLSMART has also succeeded in accelerating network expansion through the National Roaming and MOCN initiatives, which allow interoperability and connectivity between the old XL and Smartfren networks.

According to him, this expansion significantly expands the reach of XLSMART services, which can now be accessed in around 192 cities and additional areas throughout Indonesia.

He added that the company has also integrated the Customer Experience & Service Operation Center (CESOC) for more efficient network management, with the support of strategic technology partners ZTE and Huawei.

By the end of the third quarter of 2025, the company operated more than 209 thousand BTS, up 27 percent YoY, with around 15 thousand sites integrated, and service traffic also increased 53 percent YoY to 3,903 petabytes.