Indosat Ooredoo Hutchison (IDX: ISAT) ("Indosat", “IOH”, or the "Company") delivered a robust financial performance in the nine months that ended on Sept. 30 of this year, including notable year-on-year (yoy) increases in total revenue and EBITDA.
In the first nine months of 2023, Indosat generated US$2.4 billion in total revenue, marking an 8.5 percent yoy increase, driven by its cellular, MIDI, and fixed telecom business. A combination of topline growth and cost optimization momentum led to an increase in EBITDA of 24.0 percent yoy to US$1.1 billion in the first three quarters of the year, resulting in an EBITDA margin that stood at 46.6 percent. The profit for the current period attributable to the owners of the parent entity was US$179.5 million. Indosat has now set a new record of 11 consecutive quarters of net profit.
Vikram Sinha, president director and CEO of Indosat Ooredoo Hutchison said, “We are pleased to record robust financial and operation performance during 9M23, including delivering an eleventh consecutive quarter of positive net profit. Our performance has been driven by our commitment to excellence, a meticulously planned go-to-market strategy, and our unwavering focus on delivering a marvelous experience for customers. Indosat’s scale and performance are enabling us to make real strides forward in delivering on our larger purpose to connect and empower the people of Indonesia by accelerating the nation’s digital transformation.”
Indosat continues its commitment to delivering world-class digital experiences with simple and transparent products to its customers, together with the expansion of its network. This underscores the Company's focus on attracting high-quality customers and launching new digital offerings to increase user spending.
Digitally empowering Indonesia
Indosat has continued to realize its larger purpose to connect and empower the people of Indonesia by accelerating the nation’s digital transformation.
Indosat has further strengthened its 4G network in the Nusa Tenggara region of Eastern Indonesia, expanding digital inclusion and unlocking infinite possibilities for the community. Indosat's network has now reached more than 80 percent of the population throughout Nusa Tenggara, with the addition of network transmitters (sites) that have doubled mobile internet capacity compared to last year. Indosat is continuing to expand its network into underserved rural areas in Eastern Indonesia as it seeks to close the digital divide.
Indosat launched a new partnership with the International Telecommunication Union (ITU) and its Digital Transformation Centers Initiative (DTCI) that will strengthen digital literacy and facilitate digital skills training in remote and underserved communities in Indonesia. Partnerships are a key pillar of Indosat’s approach to digitally empowering Indonesia, and it also announced a new partnership with Cisco to introduce Cisco Networking Academy cybersecurity training courses into Indosat’s highly successful IDCamp training program.
Indosat believes that businesses have a vital role to play in creating a better and more sustainable world and continues to progress a range of initiatives under its environmental, social and governance (ESG) framework. The Company is taking steps to reduce its emissions and energy consumption, including through the installation of solar panels, efficient batteries and an intelligent cell sleep mode across its network of mobile base stations.
Indosat has continued to strengthen its corporate social responsibility programs, including IDCamp and SheHacks, which are expanding digital and gender inclusion and equality. Finally, Indosat is also actively strengthening its privacy and data protection systems to ensure they meet the highest possible standards and are aligned with Indosat’s company-wide commitment to excellence.
“We believe we are on the right pathway to transform Indosat from a telecommunication company into a technology company and lead the industry’s digital transformation. With the spirit of ‘Gotong Royong’, or togetherness, we will continue our infinite journey in empowering Indonesia and helping to put the nation at the forefront of the region’s digital transformation journey,” Vikram concluded.