Indonesia · Delayed Price · Currency is IDR PT XLSMART Telecom Sejahtera Tbk Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 38% year-over-year, driven by mobile and festive demand, with normalized EBITDA up 26% and PAT up 254%. Integration milestones and 5G expansion are ahead of plan, supporting margin stability and ARPU growth. CapEx and synergy targets remain on track for 2026.
Fiscal Year 2025
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Integration milestones were achieved ahead of plan, driving operational efficiencies and strong financial results, including 23% revenue growth and a 63% rise in normalized PAT for 2025. 2026 guidance targets continued synergy realization, disciplined CapEx, and quality-driven growth.
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Revenue grew 38% year-on-year and 9% quarter-on-quarter, with normalized EBITDA margin at 47% and positive normalized PAT. Integration synergies are ahead of plan, CapEx is on track, and a one-time dividend is proposed for 2025.
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Q2 2025 saw strong revenue and subscriber growth post-merger, with early synergy realization and network integration progressing well. Despite higher integration costs and a temporary dip in margins, long-term EBITDA and synergy targets remain on track, supported by robust CapEx and digital engagement.
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Q1 2025 saw 2% year-on-year revenue growth, driven by First Media integration, despite industry headwinds and weak consumer demand. EBITDA margin stayed above 50%, but ARPU and free cash flow were under pressure. Merger synergies and network integration are expected to drive future savings and growth.
Fiscal Year 2024
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Revenue and EBITDA grew 6% and 13% year-on-year, respectively, with profit after tax up 45%. Fixed broadband subscribers surged 336%, and the Smartfren merger is on track for H1 2025 completion. Intense price competition and regulatory uncertainties remain key risks.
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Strong profitability with EBITDA up 13% and PAT up 32% year-on-year, driven by operational efficiency and digitalization. Integration of Link Net and First Media expanded fixed broadband, but ARPU faces pressure from intense competition and price-based market dynamics.