JAKARTA - PT XLSMART Telecom Sejahtera Tbk (XLSMART or EXCL) recorded positive progress in post-merger transformation throughout 2025, which was marked by solid performance growth, acceleration of network integration, and strengthening of customer experience. This momentum is further strengthened through the approval of shareholders in the Annual General Meeting of Shareholders (RUPST) for the 2025 Book Year held on Wednesday, May 20, 2026 in Jakarta.
In the RUPST, shareholders approved three main agenda items, namely the approval of the Company's Annual Report including the Report of the Supervisory Board's Duties and the approval of the Company's Financial Statements for the 2025 fiscal year, the appointment of the Public Accountant and Public Accountant to audit the Company's Financial Statements for the 2026 fiscal year, and the determination of remuneration for members of the Board of Directors and the Board of Commissioners of the Company.
"2025 is an important period for XLSMART in building the foundation for post-merger transformation. Shareholder support through this RUPST is an encouragement for us to continue to provide better services, strengthen network quality, improve customer experience, and create sustainable growth," said President Director & CEO of XLSMART, Rajeev Sethi, Wednesday, May 20.
In the first agenda, the RUPST approved and accepted the Company's Annual Report for the 2025 financial year, including the Report on the Supervisory Task of the Board of Commissioners, as well as approving the Company's Financial Statements which have been audited by the Public Accounting Office of Rintis, Jumadi, Rianto and Partners, a member firm of the global network PwC. RUPST also provided full discharge and release of liability or acquit et de charge to the Board of Directors and the Board of Commissioners for management and supervisory actions during the 2025 financial year, as long as these actions are reflected in the Annual Report and the Company's Financial Statements.
Throughout 2025, XLSMART recorded strong post-merger performance. The company recorded revenue of IDR 42.49 trillion or grew 23 percent compared to the previous year. Normalized EBITDA reached IDR 20.14 trillion or grew 13 percent, while normalized net profit reached IDR 3.00 trillion or grew 63 percent. This growth was driven by post-merger synergies which began to have a positive impact on operational efficiency, network optimization, and improved customer service quality.
In addition to recording solid financial performance, the Company also showed positive integration progress. XLSMART recorded a synergy achievement of US$ 252 million in the period from Q2 to Q4 2025, exceeding initial expectations. The network integration process also showed significant progress with about 70 percent of sites having been integrated by the end of 2025. This integration is an important foundation in improving network quality, expanding customer digital service experience, and strengthening the Company's competitiveness going forward.
In the second agenda, RUPST approved the appointment of the Rintis, Jumadi, Rianto and Rekan Public Accounting Office with Mr. Lukmanul Arsyad as the Company's external auditor to audit the Company's Financial Statements for the fiscal year ended December 31, 2026.
Meanwhile, in the third agenda, RUPST approved the determination of remuneration for the Company's Board of Directors and Board of Commissioners in accordance with the Company's remuneration provisions and policies.
With a stronger integration foundation, XLSMART will continue to continue the post-merger business transformation in a disciplined and sustainable manner. The company will also continue to strengthen its network, improve operational efficiency, and provide relevant telecommunications and digital services for customers, businesses, and the Indonesian people.
Until the end of 2025, XLSMART will also continue to expand 5G services in various cities in Indonesia as part of its commitment to provide a faster, more stable, and quality connectivity experience for customers. This step strengthens XLSMART's position as one of the operators with the most advanced 5G coverage and experience in Indonesia, including international recognition through Ookla® Speedtest Awards™ for the best 5G network experience in Indonesia.
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