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Indosat Ooredoo Hutchison has recorded strong financial performance in the first nine months of 2024 with significant year-on-year growth in revenue and EBITDA.
The telecommunications company reported an 11.6% year-on-year increase in total revenue, amounting to IDR 41,812 billion (USD $2.66 billion), for the period. EBITDA rose by 15% to IDR 20,000 billion (USD $1.27 billion), achieving an EBITDA margin of 47.8%.
Indosat's profit for the period climbed by 39.1% year-on-year, totaling IDR 3,878 billion (USD $250 million), marking a continuation of its streak of profitable quarters.
The company attributed these results to its ongoing efforts in operational excellence and strategic capital allocation. Vikram Sinha, President Director & CEO of Indosat Ooredoo Hutchison, stated, "These results reflect our ongoing efforts in operational excellence, strategic capital allocation, and leveraging AI-driven transformation. Our focus remains on delivering marvellous experience to all stakeholders and ensuring strong financial performance while continuing to navigate the ever-evolving telecommunications landscape."
Indosat has also expanded its 4G BTS infrastructure by 12.5% year-on-year, reaching 193,562 sites, which has supported a 12.5% rise in data traffic, further enhancing customer experience. The company's strategic investments aim to improve network coverage, particularly in rural and eastern regions of Indonesia.
The focus on high-value customers contributed to an 8.7% increase in Average Revenue Per User (ARPU) for cellular customers during the period.
Indosat's revenue was predominantly generated by its Cellular, MIDI, and Fixed Telecommunications businesses, comprising 84.3%, 14.1%, and 1.6% of the total, respectively. While cellular services grew 9.5% year-on-year, the MIDI segment experienced substantial growth of 30.2% due to its developments in Fixed Internet, Fixed Connectivity, and IT Services. The company's shift towards AI and digital solutions positions MIDI as a significant contributor to its business model.
Vikram Sinha further emphasized the company's objectives, saying, "With our collaborative approach inspired by the spirit of 'Gotong Royong,' we remain committed to our larger purpose of empowering Indonesia and ensuring that the country remains at the forefront of the regional digital economy."
In addition to financial growth, Indosat is enhancing its infrastructure and incorporating AI to optimise operations, drive innovation, and improve customer experience. The company is forging partnerships with major global entities such as NVIDIA, Microsoft, Google, Mastercard, and Huawei to bolster these initiatives. Notably, it has launched the AI Experience Center and introduced GPU Merdeka, an AI cloud service offered by its subsidiary, Lintasarta.
In alignment with the nation's 2045 Golden Indonesia Vision, Indosat is striving to bridge the digital divide and promote digital inclusion through initiatives like IDCamp and SheHacks, with IDCamp having educated over 270,000 students to date.
Indosat is also advancing its Environmental, Social, and Governance (ESG) agenda by adopting sustainable practices, such as renewable energy solutions, and enhancing cybersecurity and data privacy measures, contributing to a brighter, more inclusive digital future for Indonesia.
