Half Year 2024 Indosat Tbk PT Earnings Call Transcript
Key Points
- PT Indosat Tbk (PTITF) reported a 13.4% year-on-year increase in cellular revenue, reaching IDR28 trillion, driven by strong growth in rural areas.
- The company's EBITDA increased by 18% year-on-year to IDR13 trillion, reflecting a focus on sustainable profitability.
- PT Indosat Tbk (PTITF) has successfully increased its home broadband customer base to 345,000, with home passes reaching around 1.5 million homes.
- Strategic partnerships with NVIDIA and Google are expected to drive advancements in AI initiatives, enhancing the company's technological capabilities.
- The company has made significant progress in deleveraging its balance sheet, reducing net debt to EBITDA from 0.45 times to 0.36 times, indicating strong cash flow generation from operations.
- The liquidity of PT Indosat Tbk (PTITF)'s stock remains a concern, with limited free float deterring global investors.
- The uptake of home broadband services is slower than expected, with only 6,000 net additions on a quarter-on-quarter basis despite 1.5 million homes passed.
- There is increased competitive intensity in the market, which may impact the company's ability to achieve its ARPU targets.
- Marketing expenses have increased significantly, raising questions about the effectiveness and efficiency of these expenditures.
- The company faces challenges in expanding its rural distribution network, which is crucial for capturing growth in underserved areas.
Good day, and thank you for standing by. Welcome to PT Indosat Tbk first-half 2024 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. It is now my pleasure to hand you over to our first speaker today, [Pak] Indar Dhaliwal, Head of Investor Relations. Please go ahead, sir.
Thank you, and good afternoon, everyone, and thanks for joining us today. With us on the call today, we have Vikram Sinha, our Chief Executive Officer; Nicky Lee, our Chief Financial Officer; and Ritesh Kumar, our Chief Commercial Officer.
I will now hand over the call to Pak Vikram for his opening remarks. Over to you, sir.
Thanks, Inder, and good afternoon, everyone. I would like to start my presentation by giving a recap of our strategic goal that we presented at our Capital Market Day. If you all remember, as we said, we have four key focuses,
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