Smartfren FY21 losses narrow to USD28.7m

31 May 2022

Indonesian mobile operator Smart Telecom (Smartfren) booked net losses of IDR409.95 billion (USD28.7 million) in FY21, an improvement on the loss of IDR1.499 trillion it recorded in 2020. In an Indonesia Stock Exchange filing, the company noted that full year revenue reached IDR10.45 trillion in the twelve-month period under review, compared to IDR9.40 trillion in FY20, as it reversed an operating loss of IDR784.67 billion in booking operating profits of IDR247.188 billion in FY21. Smartfren said the improvement was largely driven by revenue derived from data services – accounting for IDR9.61 trillion of the total – supported by non-data services (IDR284.50 billion), interconnection (IDR191.90 billion) and others.

Smartfren is forecasting revenue growth of around 10% in fiscal 2022 supported by its planned CAPEX of USD200 million. Currently, Smartfren’s network coverage is in more than 200 cities or around 80% of the Indonesian population. The telco’s network is supported by more than 40,000 BTS, all of which are 4G capable, spread across Java, parts of Sumatra, a small part of Kalimantan, and a small part of Sulawesi.

Indonesia, Smart Telecom (Smartfren)