Half Year 2024 Telkom Indonesia (Persero) Tbk PT Earnings Call Transcript
Key Points
- PT Telkom Indonesia (Persero) Tbk (TLK) reported a healthy revenue growth of 2.5% year on year to IDR75.3 trillion for the first semester of 2024.
- The company successfully implemented a fixed mobile convergence (FMC) strategy, which has proven effective and positively impacted market share and profitability.
- Mobile customer base grew by 4.3% to 159.9 million subscribers, contributing to a sustained normalized EBITDA margin of 51.9%.
- PT Telkom Indonesia (Persero) Tbk (TLK) initiated an early pension program affecting over 1,000 employees, aimed at optimizing workforce efficiency and enhancing shareholder value.
- The company continues to expand its data center capacity, with significant contributions expected from hyperscale data centers and capacity expansions in 2024.
- EBITDA decreased slightly by 1.3% year on year to IDR37.9 trillion, primarily due to the early retirement program costs.
- Personnel expenses jumped by 20.9% year on year during the semester, driven by the early retirement program.
- General and administrative (G&A) costs saw a 20% increase quarter on quarter, attributed to bonus payments and allowances for bad debt.
- ARPU (Average Revenue Per User) declined slightly quarter on quarter, indicating potential challenges in maintaining customer spending levels.
- The company faces increased competition in the mobile segment, particularly outside of Java, which could impact market share and revenue growth.
Good day and thank you for standing by. Welcome to Telkom earnings call for first half of 2024 results. (Operator Instructions) Please be advised that today's conference is being recorded. I'd now like to hand the call over to pa Oky, VP Investor Relations. Thank you, please go ahead.
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Thank you, gentlemen. Ladies and gentlemen, welcome to PT Telkom Indonesia conference call for the unlisted result of first semester of 2024. There'll be an overview from our CEO, Ririek, of Telkom Group followed by the Q&A after the session.
Before we start, let me remind you that today's call and the responses to the questions may contain forward-looking statements within the meaning of Safe Harbor. Actual results could differ materially from projections or estimations and may involve risks and uncertainties that may cause actual results to be different from what we discussed today.
Ladies and gentlemen, it is my pleasure today to
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