Blessing Of Tower Sales, Indosat Turns Rp6.75 Trillion Profit After Rp716.7 Billion Loss

Indosat Ooredoo. (Photo: Doc. Antara)

JAKARTA - PT Indosat Tbk has important capital to develop its business after merging with PT Hutchison 3 Indonesia (H3I). The company has just closed its 2021 finances with a record profit of up to Rp6.75 trillion.

This achievement is of course special considering that in 2020, Indosat still posted a loss of up to Rp.716.7 billion.

"The net profit is the result of net profit from selling and leasing towers, outstanding topline performance and continuous cost optimization," Indosat's management wrote, Tuesday, February 22.

In detail, Indosat's financial performance was also contributed by the cellular segment and the enterprise segment. So that total revenue increased by 12.4 percent to Rp31.39 trillion.

In addition, EBITDA also increased to Rp13.89 trillion or an increase of 21.4 percent, which was a combination of top line growth and measurable cost optimization.

On the other hand, EBITDA margin will reach 44.2 percent in 2021.

From the operational side, Indosat said, the number of its customers increased by 4.4 percent to 62.9 million subscribers in 2021. According to management, this record is the result of a long-term strategy in offering simple, relevant, and transparent products and smart investments in the network. .

As is known, on January 4, 2022, Indosat and H3I agreed to merge. Through this action, Indosat is the place where the company that receives the merger and H3I's status ends by law (business combination).

The merger of Indosat Ooredoo and H3I will bring together two complementary businesses to create a digital telecommunications and internet company that is bigger and stronger commercially, and can provide added value to all shareholders, customers, and the Indonesian people.

The combined company will have the scale, financial capability and expertise to compete more effectively. The merging of assets and products from Indosat Ooredoo and H3I that complement each other will encourage innovation and network development that will enable the best digital services and product offerings for customers in various parts of Indonesia.