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29 October 2025
Nine Months 2025 Results
Total Revenue of IDR41,161.6 Bn.
EBITDA of IDR19,348.5 Bn. Sustained Net Profit of IDR3,587.4 Bn
During the nine months of the 2025 financial year, PT Indosat, Tbk (“the Company”) delivered continued
net profits despite a challenging business environment. The Company recorded 1.6% YoY lower in total
revenue to IDR41,161.6 billion, EBITDA was also lower by 3.3% YoY to IDR19,348.5 billion, resulting in an
EBITDA margin of 47.0%. However, the Company managed to continue to deliver a solid Profit for the
Period Attributable to Owners of the Parent of IDR3,587.4 billion, underscoring the Company’s robust
fundamentals and focus on creating value for all stakeholders.
In the third quarter of 2025, the Company recorded revenue of IDR 14.052 trillion, up 3.8% QoQ, driven by
broad-based growth across Cellular, Multimedia, Data Communications, Internet (MIDI), and Fixed
Telecommunications. Blended Mobile ARPU grew 3.6% QoQ to IDR 40k, while the mobile customer base
remained stable at 95 million, reflecting the health and quality of Indosat’s core business.
The Company expanded its network infrastructure, increasing the number of 4G BTS to 208k to
effectively handle the data traffic growth and provide the best customer experience for its users. Data
traffic for the 9M period increased by 6.1% YoY.
Financial Highlights
* excluding Right of Use Assets under PSAK 116
As part of its transformation toward becoming an AI-Native, Indosat continues to deliver innovations that
create real value for customers. In collaboration with the Ministry of Communication and Digital Affairs
(Komdigi), Indosat launched AI-powered Anti-Spam and Anti-Scam solutions on August 7, 2025, built on its
proprietary AIvolusi5G platform. These innovations strengthen digital trust and public protection, setting
new standards for secure and intelligent customer experiences across Indonesia.
Indosat in collaboration with Cisco, the worldwide leader in security and networking, announced on the
August 27, 2025 the launch of Indonesia’s Sovereign Security Operations Center (SOC)—a major milestone
in national cybersecurity and digital resilience. This initiative marks the next chapter in securing Indonesia’s
digital infrastructure, following the launch of Indonesia's AI Center of Excellence.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
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NINE MONTHS 2025
OPERATING AND FINANCIAL RESULTS
The Company has released its unaudited interim consolidated financial statements for the Nine Month
period ended 2025 (“9M 2025”). The unaudited interim consolidated financial statements have been
prepared and presented in accordance with Indonesian Financial Accounting Standards (IFAS).
Unaudited Interim Consolidated Statements of Profit or Loss and Other Comprehensive Income
Key Indicators Annually Quarterly
(in IDR billion) 9M 2025 9M 2024 Growth % 3Q 2025 2Q 2025 Growth %
Revenues 41,161.6 41,812.0 (1.6) 14,052.0 13,531.7 3.8
• Cellular 34,557.3 35,234.7 (1.9) 11,807.6 11,327.9 4.2
• MIDI 6,000.3 5,907.2 1.6 2,038.7 2,000.2 1.9
• Fixed Telecom 604.0 670.1 (9.9) 205.7 203.6 1.1
Expenses (33,320.0) (33,343.7) (0.1) (11,394.0) (11,137.7) 2.3
Operating Profit 7,841.6 8,468.3 (7.4) 2,658.0 2,394.0 11.0
Other Expenses - Net (3,093.9) (3,169.9) (2.4) (994.5) (1,068.8) (6.9)
Profit for the Period
Attributable to Owners
of The Parent 3,587.4 3,878.2 (7.5) 1,252.1 1,024.2 22.2
EBITDA* 19,348.5 20,000.5 (3.3) 6,493.1 6,440.3 0.8
EBITDA Margin 47.0% 47.8% (0.8) 46.2% 47.6% (1.4)
Percentage changes may vary due to rounding.
Financial Ratios
Formula 9M 2025 9M 2024
Interest Coverage** EBITDA/Interest Payment 21.79 22.11
Net Debt to EBITDA*** (Debt - Cash & Cash Equivalent)/Total EBITDA 0.49 0.37
* EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-IFAS measure that management believes is a useful
supplemental measure of cash generated prior to debt service, capital expenditures and income tax. Investors are cautioned that
EBITDA should not be construed as an alternative to net income determined in accordance with IFAS as an indicator of the Company’s
performance or to cash flows from operations as a measure of liquidity and cash flows. EBITDA does not have a standardized meaning
prescribed by IFAS. The Company’s method of calculating EBITDA may differ from the methods used by other companies and,
accordingly, it may not be comparable to similarly titled measures used by other companies.
** Calculated using Annualized EBITDA and interest payment for the nine-month periods ended 30 September 2025 and 2024.
*** Net debt excludes lease liabilities.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
Revenues of IDR41,161.6 billion were recorded for 9M 2025, a decrease of IDR650.4 billion or 1.6% lower
compared to 9M 2024. The Company’s Cellular, MIDI, and Fixed Telecommunication business each
contributed 84.0%, 14.5%, and 1.5%, respectively, to the interim consolidated revenues for the nine-month
period ended 30 September 2025.
• Cellular Revenues decreased by 1.9% compared to 9M 2024, attributable to a decrease in data, voice
and SMS, offsetting the increase in value-added services (VAS) and interconnection services.
• MIDI Revenues increased by 1.6% compared to 9M 2024, attributable to increase in IT Services offset
by decrease in Fixed Connectivity and Fixed Internet.
• Fixed Telecommunication Revenues decreased by 9.9% compared to 9M 2024 driven by a decrease
in international call revenues, offsetting with an increased fixed line.
Expenses of IDR33,320 billion were recorded at 9M 2025, a decrease of IDR23.7 billion or 0.1% lower
compared to 9M 2024. This decrease was mainly due to decreases in personnel, marketing, and increase
in other operating income (expense) - net offsetting with increases in cost of services, general
administrative, depreciation and amortization.
• Cost of Services: increased by IDR855.2 billion or 5.1% higher over 9M 2024, mainly due to the increase
in partnership cost, maintenance, radio frequency fee and installation offsetting with lower rental
and services, starter pack and voucher.
• Depreciation and Amortization: increased by IDR271.7 billion or 2.3% higher over 9M
2024, mainly due to additional fixed assets from network roll out.
• Personnel Expenses: decreased by IDR622.2 billion or 21.2% lower over 9M 2024
mainly due to decrease in bonus, incentives, other employee benefits and
employee income tax allowance offsetting with higher salaries.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
Page 3
• Marketing Expenses: decreased by IDR251.3 billion or 17.2% lower than 9M 2024, mainly due to
decrease in subscriber acquisition cost, marketing agency, exhibition, promotion, advertising, and
joint marketing cost offsetting with increase in channel marketing and market research.
• General and Administrative Expenses: increased by IDR19.9 billion or 3.0% higher than 9M 2024 mainly
due to increase in provisions for impairment of trade receivables, professional fees, managed services
offsetting with decrease in public relations, social activities and transportation.
• Other Operating Income (Expense) – net: increased by IDR297.0 billion or 366.2% higher than 9M 2024
mainly due to one-off reversal of tax provisions, gain on asset disposal and lower share of net loss of
associates and joint ventures.
Other Expenses - net: The Company recorded other expenses-net of IDR3,093.9 billion, decreased by
IDR76.0 billion or 2.4% lower than 9M 2024 due to a decrease in finance cost and increase in gain (loss) on
foreign exchange – net offsetting by interest income.
Profit for the Period Attributable to Owners of the Parent: The Company recorded net profit of
IDR3,587.4 billion, decreased by IDR290.8 billion primarily due to decrease in revenue, increase in cost of
services, general administrative, depreciation and amortization offsetting with decrease in personnel,
marketing, other expenses - net and increase in other operating income (expense) - net.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Key Indicators (in IDR billion) 9M 2025 FY 2024 Growth %
ASSETS
Current Assets 11,472.6 14,877.7 (22.9)
Non-Current Assets 102,254.2 99,509.0 2.8
TOTAL ASSETS 113,726.8 114,386.7 (0.6)
LIABILITIES
Current Liabilities 31,359.2 31,009.0 1.1
Non-Current Liabilities 44,792.1 46,725.9 (4.1)
TOTAL LIABILITIES 76,151.3 77,734.9 (2.0)
TOTAL EQUITY 37,575.5 36,651.8 2.5
TOTAL LIABILITIES & EQUITY 113,726.8 114,386.7 (0.6)
Percentage changes may vary due to rounding.
• Current assets decreased by 22.9% to IDR11,472.6 billion, mainly due to decrease in cash and cash
equivalent and prepaid expenses offsetting with trade receivables.
• Non-current assets increased by 2.8% to IDR102,254.2 billion, mainly due to an increase in fixed assets.
• Current liabilities increased by 1.1% to IDR31,359.2 billion mainly due to an increase in current maturities
of loans, trade payables, current portion of procurement payable and taxes payable offsetting with
decrease in short-term employee benefit obligations, unearned revenue and other current liabilities.
• Non-current liabilities decreased by 4.1% to IDR44,792.1 billion mainly due to a decrease in long-term
loan and other non-current liabilities.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
Page 4
Cash Flow and Capital Expenditure
Key Indicators (in IDR billion) 9M 2025 9M 2024 Growth %
Net Cash Flows Provided by Operating Activities 15,722.0 15,496.2 1.5
Net Cash Flows Used in Investing Activities (10,040.8) (9,208.8) 9.0
Net Cash Flows Used in Financing Activities (7,718.6) (7,410.3) 4.2
Net Foreign Exchange Differences from Cash and Cash Equivalents 9.8 (59.2) (116.6)
Decrease in Cash and Cash Equivalents (2,027.6) (1,182.1) (71.5)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 4,454.1 5,189.6 (14.2)
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 2,426.5 4,007.5 (39.5)
Percentage changes may vary due to rounding.
Capex in 9M 2025 amounted to IDR10,736.3 billion (excluding IDR4,479.7 billion of Right of Use Assets).
Approximately 79.5% of the Capex was allocated to cellular; to support data services demand and the
remaining balance was allocated to MIDI and IT Capex.
STATUS OF DEBT
Total outstanding debt: As of 30 September 2025, the Company had total outstanding gross debts
(excluding unamortized transaction costs and lease liabilities) of IDR15,148.1 billion. The Company’s cash
position as at 30 September 2025 stood at IDR2,426.5 billion and net debt is at IDR12,721.6 billion. The
composition of the Company’s gross debt, excluding lease liabilities, is as follows:
Debt Proportion (Principal amount) 9M 2025 FY 2024 Growth %
IDR Loans (billion) 10,150.1 9,050.0 12.2
IDR Bonds (billion) 4,998.0 5,866.0 (14.8)
Total maturing debt: in the next twelve months, IDR 5,363.8 billion of the Company’s debt is maturing. The
average tenor of debt is 1.4 years as of 30 September 2025.
OPERATIONAL RESULTS
Annually Quarterly
Key Indicators
9M 2025 9M 2024 3Q 2025 2Q 2025
Customers - Postpaid (million) 2 1 2 2
Customers - Prepaid (million) 93 97 93 94
Customers - Total (million) 95 99 95 95
ARPU (Postpaid) (IDR thousand) 94 93 91 103
ARPU (Prepaid) (IDR thousand) 38 37 39 37
ARPU (Blended) (IDR thousand) 39 38 40 39
MoU (minutes) 4.9 5.6 4.7 4.8
Data Traffic (PB) 12,781 12,050 4,532 4,327
SMS Traffic (bn) 0.4 1.5 0.1 0.1
Blended cellular ARPU rose 3.6% QoQ in Q3 2025 to IDR 40k, bringing the 9M 2025 average to IDR 39k, up
4.0% compared to the same period in 2024.
Customer base remained stable 3Q 2025 at 95M.
Data Traffic rose by 6.1% to 12,781 PB in-line with the growth of the digital economy in Indonesia as Indosat
plays its role in empowering the people of Indonesia.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
Page 5
NETWORKS
As of 30 September 2025, the Company operated ~208K 4G BTS (adding ~15K 4G BTS during 9M 2025) and
1,404 5G BTS.
Annually
Key Indicators
9M 2025 9M 2024 % Change
Base Transceiver Stations (BTS) 2G 56,419 53,389 5.7
4G 208,449 193,562 7.7
5G 1,404 103 1,263.1
About Indosat Ooredoo Hutchison
Indosat Ooredoo Hutchison (Indosat, IDX: ISAT) has the vision to become the most preferred digital telecommunications company in
Indonesia. Together with its subsidiaries and affiliates, Indosat provides cellular services, ICT solutions, data centers, Fiber to the Home
(FTTH), electronic payment services, financial services, and other digital services. Indosat has a larger purpose of empowering
Indonesia, and with the spirit of Gotong Royong, Indosat wants to be the main collaborator in realizing it and creating
meaningful change. https://ioh.co.id/
Ticker: ISAT; Closing Price: IDR1,750; Market Capitalization: IDR56.4 trillion; Ratings: Pefindo idAAA (Stable);
Fitch AAA(idn) (Stable);
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
Page 6
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
For The Nine-Month Periods Ended 30 September 2025 and 2024
(Expressed in Billions of Rupiah)
Growth
Description 2025 2024
(%)
REVENUES
Cellular 34,557.3 35,234.7 (1.9)
Multimedia, Data Communication, Internet ("MIDI") 6,000.3 5,907.2 1.6
Fixed Telecommunications 604.0 670.1 (9.9)
TOTAL REVENUES 41,161.6 41,812.0 (1.6)
(EXPENSE) INCOME
Cost of services (17,602.0) (16,746.8) 5.1
Depreciation and Amortization (11,885.0) (11,613.3) 2.3
Personnel (2,317.6) (2,939.8) (21.2)
Marketing (1,206.6) (1,457.9) (17.2)
General and Administration (686.9) (667.0) 3.0
(Loss) Gain on Foreign Exchange - net (18.4) 46.0 (140.0)
Share of Net Loss of Associates and Joint Ventures (8.6) (71.4) (87.9)
Others - Net 405.1 106.5 280.4
TOTAL EXPENSES (33,320.0) (33,343.7) (0.1)
OPERATING PROFIT 7,841.6 8,468.3 (7.4)
Interest Income 136.3 244.4 (44.2)
Finance Costs (3,232.7) (3,358.8) (3.8)
Gain (Loss) on Foreign Exchange - net 2.5 (55.5) 104.5
OTHER EXPENSES - Net (3,093.9) (3,169.9) (2.4)
PROFIT BEFORE INCOME TAX 4,747.7 5,298.4 (10.4)
INCOME TAX EXPENSE (903.7) (1,139.5) (20.7)
PROFIT FOR THE PERIOD 3,844.0 4,158.9 (7.6)
PROFIT FOR THE PERIOD ATTRIBUTABLE TO:
OWNERS OF THE PARENT 3,587.4 3,878.2 (7.5)
NON-CONTROLLING INTERESTS 256.6 280.7 (8.6)
TOTAL 3,844.0 4,158.9 (7.6)
Percentage changes may vary due to rounding.
Disclaimer
This document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies,
and objectives of Indosat Ooredoo Hutchison, that are not statements of historical fact which would be treated as fo rward-looking
statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause
actual events and Indosat Ooredoo Hutchison's future results to be materially different than expected or indicated by such statements.
No assurance can be given that the results anticipated by Indosat Ooredoo Hutchison, or indicated by any such forward looking
statements, will be achieved.
The financial information provided herein is based on Indosat Ooredoo Hutchison’s consolidated financial statements in accordance with
Indonesian Financial Accounting Standards.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
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Ministry of Communication and Digital Affairs
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