First Half 2020 Results...10 H119 H120 Q120 Q220 7,859 8,022 4,143 3,879 +2.1%-6.4% In IDR Billion s...
Transcript of First Half 2020 Results...10 H119 H120 Q120 Q220 7,859 8,022 4,143 3,879 +2.1%-6.4% In IDR Billion s...
First Half 2020 Results
29 July 2020
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• PT Indosat Tbk ( “Indosat Ooredoo” or “Company” ) cautions investors that certain statements contained in this document state its management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements
• The Company wishes to caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to:• The Company’s ability to manage domestic and international growth and maintain a high level of customer
service• Future sales growth• Market acceptance of the Company’s product and service offerings• The Company’s ability to secure adequate financing or equity capital to fund our operations• Network expansion• Performance of the Company’s network and equipment• The Company’s ability to enter into strategic alliances or transactions• Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment• Regulatory approval processes• Changes in technology• Price competition• Other market conditions and associated risks
• The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information, or otherwise
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40% increase in Daily Email Traffic
Over 93% employees checking in for work daily
91%
Employees feel they work with same or more energy during WFH
82%
Employees feel HAPPY during WFHOver 1000 daily online
meetings
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Performance growth trends maintained
in 1H 2020. Revenue up by 9.4% YoY and
EBITDA up by 22.5% YoY.
57.2 Mn+0.9% YoY
40.4%+4.3 ppt YoY
31.4 (IDR ‘000)
+12.4% YoY
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13,452 Bn(IDR)
+9.4% YoY
-341.1Bn(IDR)
-9.2Bn YoY
5,430 Bn(IDR)
+22.5% YoY
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H119 H120 Q120 Q220
12,292
6,929
13,452
6,523
+9.4%
+6.2%
H119 H120 Q220
5,430
Q120
4,433
2,3803,050
+22.5%
+28.2%
H119 Q220Q120H120
44.0%36.1%
40.4%36.5%
Q220H119 H120 Q120
In IDR Billion In IDR Billion In IDR Billion
In IDR Billion
• Solid revenue growth driven by data surge• EBITDA improvement driven by higher revenue and cost optimisation
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-9.2Bn +870.1Bn
-332 -341
-606
265+4.3 ppt +7.5 ppt
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H119 H120 Q120 Q220
9,96211,141
5,372 5,769
+11,8%
+7,4%
1,007
Q220H119 H120 Q120
1,988 2,036
1,029
+2.4%
+2.1%
In IDR Billion In IDR Billion In IDR Billion
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• Strong growth continues in cellular revenue, 11.8% YOY and 7.4% QoQ• Fixed data grows despite challenging situation• Fixed voice degrowth , mainly attributed to COVID-19 situation
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144 130
H119 H120 Q120 Q220
-19.8%
-9.4%
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H119 H120 Q120 Q220
7,859 8,022
4,143 3,879
+2.1%
-6.4%
In IDR Billion
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• Personnel Expenses growth implies Organization rightsizing result• Seasonality in Marketing Expenses• Further cost optimisation maintained, normalized growth 4.8%
In IDR Billion 1H 2019 1H 2020 % Change 1Q 2020 2Q 2020 % Change
Cost of Services 5,853.5 5,764.4 -1.5% 2,866.4 2,898.0 1.1%
Personnel 1,000.7 1,432.4 43.1% 893.2 539.2 -39.6%
Marketing 557.9 541.7 -2.9% 249.4 292.3 17.2%
General & Administration 446.6 283.2 -36.6% 134.1 149.1 11.2%
Total OPEX 7,858.7 8,021.7 2.1% 4,143.1 3,878.6 -6.4%
Depreciation & Amortization 4,710.7 4,961.4 5.3% 2,467.6 2,493.8 1.1%
Other Operating
Income/(Expenses)-1,074.9 -619.2 -42.4% -283.9 -335.3 18.1%
Total Expenses 11,494.5 12,363.9 7.6% 6,326.8 6,037.1 -4.6%
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In IDR Billion
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• Stronger balance sheet resulted in improved financial ratio• Committed to maintain a ratio below the bank covenant value of 4x Net Debt to EBITDA
20,885
14,625 15,306 14,625
2.81
1.35 1.52 1.35
(10.00)
(8.00)
(6.00)
(4.00)
(2.00)
-
2.00
4.00
H1 19 H1 20 Q1 20 Q2 20
-
5,000
10,000
15,000
20,000
25,000
Net Debt Net Debt to EBITDA
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In IDR Billion
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• Accelerated network rollout in Q2’20 • IO on track to meet 2020 network expansion plans
In %
4,204
3,262
634
2,628
H1 19 H1 20 Q1 20 Q2 20
34.2%
24.2%
9.7%
37.9%
H1 19 H1 20 Q1 20 Q2 20
-22.4% +314.4%
*excluding Right of Use assets under PSAK 73
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Continued growth in key operational KPIs
57.2 Mn
+0.9% YoY
29.5
-16.8% YoY
31.4 (IDR ‘000)
+12.4% YoY
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2,217(‘000 TB)
+61% YoY
52,776
+28k YoY
124,944
+39k YoY
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Q120H119
57.2
H120 Q220
57.256.7 56.2
+0.9% +1.8%
H119 Q120 Q220H120
33.227.9
31.4 29.6
+12.4% +12.1%
In Million In IDR ‘000 In TB
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• 57.2 million subscribers, growth of 0.9% YoY, 1 mn subscriber addition in Q2’20• Continued growth in ARPU, over 12% YoY & QoQ ARPU growth•Data traffic continues on sustainable growth trajectory
H120 Q120H119 Q220
2,216,632
1,378,8061,015,373
1,201,259
+60.8% +18,3%
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124,9
H119 H120
86,4
Q120 Q220
133,2 124,9
H120H119
24,9
52,8
Q120 Q220
52,2 52,8
H119
45,4
H120
40,1
Q120 Q220
51,045,4
H119 H120
21,426,8
Q120 Q220
30,026,8
In ‘000 Count
• Accelerating 4G network roll-out• 27,902 4G BTS added• Initiated 3G Spectrum refarming
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In ‘000 Count In ‘000 Count In ‘000 Count