Excelcom reports 84% rise in subscriber base in 2005

7 Mar 2006

Indonesian mobile operator PT Excelcomindo Pratama (Excelcom) reported record subscriber growth in 2005, with users rocketing 84% to nearly seven million from 3.8 million in 2004, and says it is planning further aggressive expansion this year. The company posted revenues of IDR3.79 trillion (USD413 billion) in 2005, a 20% rise from IDR3.13 trillion a year earlier, although net losses widened to IDR224 billion (USD0.02 billion) from IDR45 billion, due to unrealised foreign exchange losses following the rupiah’s fall in the third quarter of 2005. Nonetheless, Excelcom says it is ‘ready to be more aggressive’ in 2006 and plans to spend around USD500 million to improve services. it will also introduce 3G services by the second half of the year.

Indonesia, XL Axiata