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28 July 2026
First Half 2026 Results
Total Revenue of IDR30,653.1 Bn.
EBITDA of IDR14,603.4 Bn. Net Profit of IDR4,308.9 Bn
PT Indosat Tbk. (“the Company”) delivered a solid performance in the first half of the 2026 financial year
(“1H 2026”), demonstrating strong momentum in both growth and profitability. Total revenue increased by
13.1% YoY to IDR 30,653.1 billion, while EBITDA expanded by 13.6% YoY to IDR 14,603.4 billion, reinforcing a
solid EBITDA margin of 47.6%. Profit for the period Attributable to Owners of the Parent IDR 4,308.9 billion,
reflecting a solid 84.5% YoY growth. This solid set of results underscores the Company’s scalable business
model, disciplined cost management, and sustained ability to generate attractive returns, positioning it
well to continue delivering long‑term value for stakeholders.
In 1H 2026, Mobile ARPU Blended grew 17.3% to IDR 46k, while the mobile customer base stood at 93 million,
reflecting the health and quality of Indosat’s core business.
The Company expanded its network infrastructure, increasing the number of 4G BTS to 214k to effectively
handle the data traffic growth and provide marvelous customer experience for its users. Data traffic for 1H
2026 increased by 19.9% YoY.
Financial Highlights
* excluding Right of Use Assets under PSAK 116
In 2026, Indosat and Arsari Group officially established a strategic partnership through PT Infra Fiber
Teknologi (IFT), creating one of Indonesia’s leading independent digital fiber infrastructure platforms. IFT
aims to strengthen the country’s digital infrastructure backbone and support the accelerated
advancement of Indonesia’s digital transformation agenda. The launch represents a significant milestone
in the shared commitment of both organizations to expanding access to high-quality, open-access digital
infrastructure nationwide.
Indosat has entered into a strategic partnership with Nokia to modernize its mobile network infrastructure
nationwide through the deployment of an advanced 5G Radio Access Network (RAN). As a principal
technology partner, Nokia will support the implementation of 5G across low-band and mid-band spectrum
frequencies. The initiative is designed to establish a high-performance, AI-enabled network and enhance
the digital experience for customers through improved reliability, responsiveness, and seamless
connectivity.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62-21) 3000 3001
Page 2
FIRST HALF 2026
OPERATING AND FINANCIAL RESULTS
The Company has released unaudited interim consolidated financial statements for the first half of 2026.
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) 1H 2026 1H 2025 Growth % 2Q 2026 1Q 2026 Growth %
Revenues 30,653.1 27,109.6 13.1 15,432.4 15,220.7 1.4
• Cellular 25,527.2 22,749.7 12.2 12,824.6 12,702.6 1.0
• MIDI 4,694.0 3,961.6 18.5 2,388.7 2,305.3 3.6
• Fixed Telecom 431.9 398.3 8.4 219.1 212.8 2.9
Expenses (22,915.3) (21,926.0) 4.5 (10,712.7) (12,202.6) (12.2)
Operating Profit 7,737.8 5,183.6 49.3 4,719.7 3,018.1 56.4
Other Expenses - Net (2,124.4) (2,099.4) 1.2 (1,029.2) (1,095.2) (6.0)
Profit for the Period
Attributable to Owners
of The Parent 4,308.9 2,335.3 84.5 2,817.6 1,491.3 88.9
EBITDA* 14,603.4 12,855.4 13.6 7,358.0 7,245.4 1.6
EBITDA Margin 47.6% 47.4% 0.2 47.7% 47.6% 0.1
Percentage changes may vary due to rounding.
Financial Ratios
Formula 1H 2026 1H 2025
Interest Coverage** EBITDA/Interest Payment 27.95 22.74
Net Debt to EBITDA*** (Debt - Cash & Cash Equivalent)/Total EBITDA 0.10 0.49
* 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 EBITDA and interest payment for the six months period ended 30 June 2026 and 2025.
*** Net debt excludes lease liabilities.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
Revenues of IDR30,653.1 billion were recorded for 1H 2026, an increase of IDR3,543.5 billion or 13.1% higher
compared to 1H 2025. The Company’s Cellular, MIDI, and Fixed Telecommunication business each
contributed 83.3%, 15.3%, and 1.4%, respectively, to the consolidated revenues for the six-month period
ended 30 June 2026.
• Cellular Revenues increased by 12.2% compared to 1H 2025, attributable to increase in data and value-
added services (VAS) offset by decrease in voice, SMS and interconnection services.
• MIDI Revenues increased by 18.5% compared to 1H 2025, attributable to increase in IT Services and
Fixed Connectivity and Fixed Internet.
• Fixed Telecommunication Revenues increased by 8.4% compared to 1H 2025 driven by increase in
international call offset by decrease in fixed line.
Expenses of IDR22,915.3 billion were recorded on 1H 2026, an increase of IDR989.3 billion or 4.5% higher
compared to 1H 2025. This increase was mainly due to increases in cost of services, depreciation and
amortization, personnel expenses, marketing and general & administrative expenses offset by increase in
other operating income (expense) - net.
• Cost of Services: increased by IDR1,060 billion or 9.2% higher than 1H 2025, mainly due to increase in
installation, partnership, rental and related services, radio frequency fee, maintenance, utilities
and interconnection costs offset by lower telecommunication device, starter pack and
voucher.
• Depreciation and Amortization: increased by IDR334.2 billion or 4.2% higher than 1H
2025, mainly due to additional assets from network roll out and customer contract
amortization.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62-21) 3000 3001
Page 3
• Personnel Expenses: increased by IDR678.4 billion or 45.1% higher than 1H 2025 mainly due to higher
variable performance-based compensation, including bonuses and incentives.
• Marketing Expenses: increased by IDR21.7 billion or 2.7% higher than 1H 2025, mainly due to increase in
customer service, subscriber acquisition cost and exhibition offset by decrease in promotion and
marketing agency.
• General and Administrative Expenses: increased by IDR35.4 billion or 8.7% higher than 1H 2025 mainly
due to increase in professional fees, offset by decrease in public relations and rent.
• Other Operating Income (Expense) – net: increased by IDR1,140.4 billion or 379.4% higher than 1H 2025
mainly due to one-off benefit from FiberCo monetization gain in 1H 2026 offset by higher operational
gain recognized in 1H 2025 from gain on disposal of asset and prior year tax reversal .
Other Expenses - net: The Company recorded other expenses-net of IDR2,124.4 billion, increased by IDR25
billion or 1.2% higher than 1H 2025 due to an increase in finance cost offset by increase in gain (loss) on
foreign exchange – net and interest income.
Profit for the Period Attributable to Owners of the Parent: The Company recorded net profit of
IDR4,308.9 billion, increased by IDR1,973.6 billion primarily due to increase in revenue and other operating
income (expense) – net offset by increase in cost of services, depreciation and amortization, personnel,
marketing, general and administrative expenses and other expenses-net.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Key Indicators (in IDR billion) 1H 2026 FY 2025 Growth %
ASSETS
Current Assets 26,063.3 19,003.9 37.1
Non-Current Assets 112,243.2 99,626.0 12.7
TOTAL ASSETS 138,306.5 118,629.9 16.6
LIABILITIES
Current Liabilities 39,186.2 30,499.3 28.5
Non-Current Liabilities 59,024.8 48,621.5 21.4
TOTAL LIABILITIES 98,211.0 79,120.8 24.1
TOTAL EQUITY 40,095.5 39,509.1 1.5
TOTAL LIABILITIES & EQUITY 138,306.5 118,629.9 16.6
Percentage changes may vary due to rounding.
• Current assets increased by 37.1% to IDR26,063.3 billion, mainly due to increase in cash and cash
equivalent offset by decrease in asset classified as held for sale due to FiberCo monetization.
• Non-current assets increased by 12.7% to IDR112,243.2 billion, mainly due to increase in fixed assets and
investment in associates and joint ventures.
• Current liabilities increased by 28.5% to IDR39,186.2 billion mainly due to increase in short-term loan,
current portion of lease liabilities, procurement payable and taxes payable.
• Non-current liabilities increased by 21.4% to IDR59,024.8 billion mainly due to increase in long-term
lease liabilities offset by decrease in 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) 1H 2026 1H 2025 Growth %
Net Cash Flows Provided by Operating Activities 11,763.8 9,575.8 22.8
Net Cash Flows Used in Investing Activities (7,239.1) (7,947.1) (8.9)
Net Cash Flows Provided / (Used) in Financing Activities 6,091.1 (905.6) 772.6
Net Foreign Exchange Differences from Cash and Cash Equivalents 90.5 (2.9) 3,293.9
Increase in Cash and Cash Equivalents 10,706.3 720.2 1,386.5
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 5,075.3 4,454.1 13.9
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 15,781.6 5,174.3 205.0
Percentage changes may vary due to rounding.
Capex in 1H 2026 amounted to IDR9,519.7 billion (excluding IDR6,570.4 billion of Right of Use Assets).
Approximately 57.1% of the Capex was allocated to cellular; to support data services demand and the
remaining balance was allocated to MIDI and Fixed Telecommunications.
STATUS OF DEBT
Total outstanding debt: As of 30 June 2026, the Company had total outstanding gross debts (excluding
unamortized transaction costs and lease liabilities) of IDR18,535.9 billion. The Company’s cash position as
at 30 June 2026 stood at IDR15,781.6 billion and net debt is at IDR2,754.3 billion. The composition of the
Company’s gross debt, excluding lease liabilities, is as follows:
Debt Proportion (Principal amount) 1H 2026 FY 2025 Growth %
IDR Loans (billion) 15,046.9 11,850.2 27.0
IDR Bonds (billion) 3,489.0 3,545.0 (1.6)
Total maturing debt: in the next twelve months, IDR6,882.4 billion of the Company’s debt is maturing. The
average tenor of debt is 2.0 years as of 30 June 2026.
OPERATIONAL RESULTS
Annually Quarterly
Key Indicators
1H 2026 1H 2025 2Q 2026 1Q 2026
Customers - Postpaid (million) 2.1 1.7 2.1 1.9
Customers - Prepaid (million) 91.3 93.7 91.3 91.5
Customers - Total (million) 93.4 95.4 93.4 93.5
ARPU (Postpaid) (IDR thousand) 98 95 98 98
ARPU (Prepaid) (IDR thousand) 44 38 45 44
ARPU (Blended) (IDR thousand) 46 39 46 45
MoU (minutes) 4.4 5.0 4.6 4.3
Data Traffic (PB) 9,892 8,249 4,986 4,906
SMS Traffic (bn) 0.3 0.3 0.1 0.1
Blended cellular ARPU rose 17.3% in 1H 2026 to IDR 46K compared to the same period in 2025.
1H 2026 customer base stood at 93 million.
Data Traffic rose by 19.9% to 9,892 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 June 2026, the Company operated ~214K 4G BTS and ~10K 5G BTS.
Annually
Key Indicators
1H 2026 1H 2025 % Change
Base Transceiver Stations (BTS) 2G 58,187 55,489 4.9
4G 214,326 203,086 5.5
5G 10,117 807 1,153.7
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 empoweri ng
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: IDR1,730; Market Capitalization: IDR55.8 trillion; Ratings: Pefindo idAAA (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 Six-Month Periods Ended 30 June 2026 and 2025
(Expressed in Billions of Rupiah)
Growth
Description 1H 2026 1H 2025
(%)
REVENUES
Cellular 25,527.2 22,749.7 12.2
Multimedia, Data Communication, Internet ("MIDI") 4,694.0 3,961.6 18.5
Fixed Telecommunications 431.9 398.3 8.4
TOTAL REVENUES 30,653.1 27,109.6 13.1
(EXPENSE) INCOME
Cost of services (12,601.5) (11,541.5) 9.2
Depreciation and Amortization (8,306.5) (7,972.3) 4.2
Personnel (2,181.8) (1,503.4) 45.1
Marketing (823.9) (802.2) 2.7
General and Administration (442.5) (407.1) 8.7
Loss on Foreign Exchange - net (8.3) (20.4) (59.4)
Net Gain Associated with the Loss of Control of a Subsidiary and
1,517.8 - 100.0
Leaseback Transaction
Share of Net Profit (Loss) of Associates and Joint Ventures 35.4 (5.9) 704.0
Net Gain on Sale of Property & Equipment 8.8 48.5 (81.8)
Others - Net (112.8) 278.3 (140.5)
TOTAL EXPENSES (22,915.3) (21,926.0) 4.5
OPERATING PROFIT 7,737.8 5,183.6 49.3
Interest Income 113.4 92.1 23.1
Gain (loss) on Foreign Exchange - net 63.1 (2.2) 3,030.9
Finance Costs (2,300.9) (2,189.3) 5.1
OTH ER EXPENSES - Net (2,124.4) (2,099.4) 1.2
PROFIT BEFORE INCOME TAX 5,613.4 3,084.2 82.0
INCOME TAX EXPENSE (1,193.1) (571.0) 108.9
PROFIT FOR TH E PERIOD 4,420.3 2,513.2 75.9
PROFIT FOR TH E PERIOD ATTRIBUTABLE TO:
OWNERS OF TH E PARENT 4,308.9 2,335.3 84.5
NON-CONTROLLING INTERESTS 111.4 177.9 (37.4)
TOTAL 4,420.3 2,513.2 75.9
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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