PT Indosat publishes limited review of 9M13 results

14 Nov 2013

Indonesian telecoms operator PT Indosat has submitted a limited set of financial results for the nine months ended 30 September 2013, prepared in accordance with Indonesian Financial Accounting Standards (IFAS) to the appropriate capital market authorities. The groups said consolidated revenues increased 9.4% year-on-year to IDR17.80 trillion (USD1.54 billion), and earnings before interest, taxes, depreciation and amortisation (EBITDA) of IDR7.97 billion compared to IDR7.67 billion in 9M12. The telco’s operating expenses increased by 20.2% y-o-y, primarily the result of rising cost of service, depreciation and amortisation, personnel costs, general and administration expenses, and marketing costs. In its filing, Indosat confirmed that its cellular, fixed data (MIDI) and fixed voice operations contributed 81%, 14% and 5% respectively to the group’s overall consolidated operating revenue.

In an unrelated development, Indosat has reportedly confirmed its intentions to sell its shares in telecommunication tower provider PT Tower Bersama Infrastructure, which it hopes will net it IDR1.4 trillion. According to the firm’s CEO Alexander Rusli, the sale is expected to complete by the first quarter of 2014 at the latest.

Indonesia, Indosat Ooredoo (incl. IM2)