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29 April 2026
First Quarter 2026 Results
Total Revenue of IDR15,220.7 Bn.
EBITDA of IDR7,245.4 Bn. Sustained Net Profit of IDR1,491.3 Bn
PT Indosat Tbk. (“the Company”) delivered a solid performance in the first quarter of the 2026 financial year
(“1Q 2026”), demonstrating strong momentum in both growth and profitability. Total revenue increased by
12.1% YoY to IDR 15,220.7 billion, while EBITDA expanded by 12.9% YoY to IDR 7,245.4 billion, reinforcing a solid
EBITDA margin of 47.6%. Profit for the period Attributable to Owners of the Parent IDR 1,491.3 billion, reflecting
a solid 13.7% YoY growth. This strong 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 1Q 2026, Mobile ARPU Blended grew 15.3% to IDR 45k, while the mobile customer base at 94 million,
reflecting the health and quality of Indosat’s core business.
The Company expanded its network infrastructure, increasing the number of 4G BTS to 212k to effectively
handle the data traffic growth and provide marvelous customer experience for its users. Data traffic for 1Q
2026 increased by 25.1% YoY.
Financial Highlights
* excluding Right of Use Assets under PSAK 116
On 20 March 2026, Indosat announced a significant milestone in its mission to expand access to artificial
intelligence (AI) in Indonesia. This initiative was unveiled alongside global AI leaders at NVIDIA GTC 2026 in
San Jose, California, United States, where Indosat highlighted its collaboration with NVIDIA to develop AI
capabilities in Indonesia by leveraging the open‑source Nemotron model.
Indosat has partnered with Google to provide access to Google Gemini for IM3 and Tri customers through
bundled data packages available on the myIM3 and BIMA+ applications, effective in 8 April 2026. Following
its successful rollout to myIM3 and BIMA+ application users since February, the initiative is now being
expanded to reach Indosat’s entire customer base over the coming weeks. Through this collaboration,
Indosat and Google have established a first‑of‑its‑kind partnership in Indonesia, offering exclusive
packages that include access to Google Gemini AI Plus for Indosat customers.
Head Office
Jalan Medan Merdeka Barat No. 21 www.ioh.co.id
Jakarta 10110, Indonesia
P: (62 -21) 3000 3001
Page 2
FIRST QUARTER 2026
OPERATING AND FINANCIAL RESULTS
The Company has released unaudited interim consolidated financial statements for the first quarter 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) 1Q 2026 1Q 2025 Growth % 1Q 2026 4Q 2025 Growth %
Revenues 15,220.7 13,577.9 12.1 15,220.7 15,356.5 (0.9)
• Cellular 12,702.6 11,421.8 11.2 12,702.6 12,798.3 (0.7)
• MIDI 2,305.3 1,961.4 17.5 2,305.3 2,344.6 (1.7)
• Fixed Telecom 212.8 194.7 9.3 212.8 213.6 (0.4)
Expenses (12,202.6) (10,788.3) 13.1 (12,202.6) (11,923.2) 2.3
Operating Profit 3,018.1 2,789.6 8.2 3,018.1 3,433.3 (12.1)
Other Expenses - Net (1,095.2) (1,030.6) 6.3 (1,095.2) (896.4) 22.2
Profit for the Period
Attributable to Owners
of The Parent 1,491.3 1,311.1 13.7 1,491.3 1,922.3 (22.4)
EBITDA* 7,245.4 6,415.1 12.9 7,245.4 7,248.8 Flat
EBITDA Margin 47.6% 47.2% 0.4 47.6% 47.2% 0.4
Percentage changes may vary due to rounding.
Financial Ratios
Formula 1Q 2026 1Q 2025
Interest Coverage** EBITDA/Interest Payment 25.50 22.84
Net Debt to EBITDA*** (Debt - Cash & Cash Equivalent)/Total EBITDA 0.31 0.36
* 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 three months period ended 31 March 2026 and 2025.
*** Net debt excludes lease liabilities.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
Revenues of IDR15,220.7 billion were recorded for 1Q 2026, an increase of IDR1.642.8 billion or 12.1% higher
compared to 1Q 2025. The Company’s Cellular, MIDI, and Fixed Telecommunication business each
contributed 83.5%, 15.1%, and 1.4%, respectively, to the consolidated revenues for the three-month period
ended 31 March 2026.
• Cellular Revenues increased by 11.2% compared to 1Q 2025, attributable to increase in data and value-
added services (VAS) offset by decrease in voice, SMS and interconnection services.
• MIDI Revenues increased by 17.5% compared to 1Q 2025, attributable to increase in IT Services and
Fixed Connectivity offset by decrease in Fixed Internet.
• Fixed Telecommunication Revenues increased by 9.3% compared to 1Q 2025 driven by increase in
international call and fixed line.
Expenses of IDR12,202.6 billion were recorded on 1Q 2026, an increase of IDR1,414.3 billion or 13.1% higher
compared to 1Q 2025. This increase was mainly due to increases in cost of services, depreciation,
amortization, personnel expenses and other operating (expense) income - net offset by decreases in
marketing, general & administrative expenses.
• Cost of Services: increased by IDR403.8 billion or 7.1% higher than 1Q 2025, mainly due to increase in
installation, partnership, maintenance, radio frequency fee, utilities and interconnection costs
offset by lower rental and related services, starter pack and voucher.
• Depreciation and Amortization: increased by IDR187.5 billion or 4.8% higher than 1Q 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 IDR419.4 billion or 51.9% higher than 1Q 2025 mainly due to higher
variable performance-based compensation, including bonuses and incentives.
• Marketing Expenses: decreased by IDR6.5 billion or 1.6% lower than 1Q 2025, mainly due to decrease
in promotion, advertising, channel marketing and marketing agency, offset by increase in subscriber
acquisition cost, customer service, and exhibition.
• General and Administrative Expenses: decreased by IDR4.2 billion or 2.0% lower than 1Q 2025 mainly
due to decrease in public relations, training, education, research, insurance and transportation, offset
by increase in provisions for impairment of trade receivables and professional fees.
• Other Operating (Expense) Income – net: increased by IDR414.3 billion or 136.9% higher than 1Q 2025
mainly due to one-off reversal of tax provisions, gain on early site lease termination and disposal of
asset in 1Q 2025.
Other Expenses - net: The Company recorded other expenses-net of IDR1,095.2 billion, increased by
IDR64.6 billion or 6.3% higher than 1Q 2025 due to an increase in finance cost offset by increase in interest
income and gain on foreign exchange–net.
Profit for the Period Attributable to Owners of the Parent: The Company recorded net profit of
IDR1,491.3 billion, increased by IDR180.2 billion primarily due to increase in revenue, decrease in marketing,
general and administrative expenses offset by increase in cost of services, depreciation, amortization,
personnel, other operating (expense) income–net and other expenses-net.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Key Indicators (in IDR billion) 1Q 2026 FY 2025 Growth %
ASSETS
Current Assets 18,524.0 19,003.9 (2.5)
Non-Current Assets 103,578.0 99,626.0 4.0
TOTAL ASSETS 122,102.0 118,629.9 2.9
LIABILITIES
Current Liabilities 32,894.1 30,499.3 7.9
Non-Current Liabilities 48,169.6 48,621.5 (0.9)
TOTAL LIABILITIES 81,063.7 79,120.8 2.5
TOTAL EQUITY 41,038.3 39,509.1 3.9
TOTAL LIABILITIES & EQUITY 122,102.0 118,629.9 2.9
Percentage changes may vary due to rounding.
• Current assets decreased by 2.5% to IDR18,524.0 billion, mainly due to decrease in current portion of
frequency fee, license prepayment and trade receivables offset by increase in cash and cash
equivalent.
• Non-current assets increased by 4.0% to IDR103,578.0 billion, mainly due to increase in fixed assets
and other non-current assets.
• Current liabilities increased by 7.9% to IDR32,894.1 billion mainly due to increase in current portion of
procurement payable, short-term loan, accruals, taxes payable and unearned revenue offset by
decrease in current maturities of long-term borrowings, trade payables, deposits from customers and
other current liabilities.
• Non-current liabilities decreased by 0.9% to IDR48,169.6 billion mainly due to a decrease in long-term
loan offset by an increase in long-term lease 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) 1Q 2026 1Q 2025 Growth %
Net Cash Flows Provided by Operating Activities 6,525.3 6,067.9 7.5
Net Cash Flows Used in Investing Activities (3,454.7) (3,573.4) (3.3)
Net Cash Flows Used in Financing Activities (2,607.5) (2,685.6) (2.9)
Net Foreign Exchange Differences from Cash and Cash Equivalents 26.0 17.4 49.7
Increase (Decrease) in Cash and Cash Equivalents 489.1 (173.7) (381.7)
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 5,564.4 4,280.4 30.0
Percentage changes may vary due to rounding.
Capex in 1Q 2026 amounted to IDR4,183.5 billion (excluding IDR2,924.5 billion of Right of Use Assets).
Approximately 93% 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 31 March 2026, the Company had total outstanding gross debts (excluding
unamortized transaction costs and lease liabilities) of IDR14,036.5 billion. The Company’s cash position as
at 31 March 2026 stood at IDR5,564.4 billion and net debt is at IDR8,472.1 billion. The composition of the
Company’s gross debt, excluding lease liabilities, is as follows:
Debt Proportion (Principal amount) 1Q 2026 FY 2025 Growth %
IDR Loans (billion) 10,547.5 11,850.2 (11.0)
IDR Bonds (billion) 3,489.0 3,545.0 (1.6)
Total maturing debt: in the next twelve months, IDR 3,742.1 billion of the Company’s debt is maturing. The
average tenor of debt is 2.0 years as of 31 March 2026.
OPERATIONAL RESULTS
Annually Quarterly
Key Indicators
1Q 2026 1Q 2025 1Q 2026 4Q 2025
Customers - Postpaid (million) 2 2 2 2
Customers - Prepaid (million) 92 94 92 92
Customers - Total (million) 94 95 94 94
ARPU (Postpaid) (IDR thousand) 97.5 87.8 97.5 90.6
ARPU (Prepaid) (IDR thousand) 44.1 38.4 44.1 43.2
ARPU (Blended) (IDR thousand) 45.2 39.2 45.2 44.1
MoU (minutes) 4.3 5.2 4.3 4.7
Data Traffic (PB) 4,906 3,922 4,906 4,874
SMS Traffic (bn) 0.1 0.1 0.1 0.1
Blended cellular ARPU rose 15.3% in 1Q 2026 to IDR 45K compared to the same period in 2025.
1Q 2026 customer base at 94 million.
Data Traffic rose by 25.1% to 4,906 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 31 March 2026, the Company operated ~212K 4G BTS (adding ~10K 4G BTS during 1Q 2026).
Annually
Key Indicators
1Q 2026 1Q 2025 % Change
Base Transceiver Stations (BTS) 2G 57,993 54,366 6.7
4G 212,305 202,179 5.0
5G 9,972 107 9,219.6
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: IDR2,090; Market Capitalization: IDR67.4 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 Three-Month Periods Ended 31 March 2026 and 2025
(Expressed in Billions of Rupiah)
Growth
Description 1Q 2026 1Q 2025
(%)
REVENUES
Cellular 12,702.6 11,421.8 11.2
Multimedia, Data Communication, Internet ("MIDI") 2,305.3 1,961.4 17.5
Fixed Telecommunications 212.8 194.7 9.3
TOTAL REVENUES 15,220.7 13,577.9 12.1
(EXPENSE) INCOME
Cost of services (6,121.5) (5,717.7) 7.1
Depreciation and Amortization (4,115.5) (3,928.0) 4.8
Personnel (1,227.9) (808.5) 51.9
Marketing (415.4) (421.9) (1.6)
General and Administration (210.5) (214.7) (2.0)
Loss on Foreign Exchange - net (13.8) (14.0) (1.5)
Share of Net Gain (Loss) of Associates and Joint Ventures 11.2 (5.6) 301.9
Net Gain on Sale of Property & Equipment 0.2 44.0 (99.5)
Others - Net (109.4) 278.1 (139.3)
TOTAL EXPENSES (12,202.6) (10,788.3) 13.1
OPERATING PROFIT 3,018.1 2,789.6 8.2
Interest Income 56.6 46.9 20.7
Gain on Foreign Exchange - net 12.9 12.2 5.1
Finance Costs (1,164.7) (1,089.7) 6.9
OTHER EXPENSES - Net (1,095.2) (1,030.6) 6.3
PROFIT BEFORE INCOME TAX 1,922.9 1,759.0 9.3
INCOME TAX EXPENSE (397.3) (346.8) 14.5
PROFIT FOR THE PERIOD 1,525.6 1,412.2 8.0
PROFIT FOR THE PERIOD ATTRIBUTABLE TO:
OWNERS OF THE PARENT 1,491.3 1,311.1 13.7
NON-CONTROLLING INTERESTS 34.3 101.1 (66.1)
TOTAL 1,525.6 1,412.2 8.0
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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