Q3 2024 Indosat Tbk PT Earnings Call Transcript
Key Points
- PT Indosat Tbk (PTITF) reported a 12% year-on-year revenue growth for the first nine months of 2024.
- EBITDA increased by 15% year-on-year, outpacing revenue growth.
- Net profit, when normalized for one-offs, grew by 73% year-on-year.
- The company achieved USD450 million in recurring annualized synergies from its merger, exceeding initial expectations.
- Digital app users increased by 5 million year-on-year, with app users generating 50% higher ARPU than the overall base.
- Subscriber base declined by 0.7 million over the nine-month period.
- Quarter-on-quarter ARPU showed weakness, declining sequentially.
- Revenue decreased by 2.2% in the third quarter due to seasonality, impacting EBITDA and NPAT.
- Marketing expenses increased by 40% year-on-year due to a new business model, although normalized growth was 6%.
- Challenges in consumer demand and macroeconomic conditions, particularly during government transition, affected performance.
Good day, and thank you for standing by. Welcome to the PT Indosat Tbk nine-month 2024 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd now like to hand the conference over to your first speaker today, Pak Indar Dhaliwal, VP Investor Relations. Please go ahead, sir.
Thank you, Amber. Good afternoon, everyone, and thank you for joining us today. With us on the call today, we have a Pak Vikram Sinha, our Chief Executive Officer; Pak Nicky Lee, our Chief Financial Officer; and Pak 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, Indar. Good afternoon, everyone. Before I get into the highlights of -- for the first nine months of 2024, I'd like to talk about staying true to our greater purpose, which is empowering
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