Indosat Ooredoo Hutchison reported their financial performance for the first quarter of 2022. The company reported solid financial results with strong growth in revenue and EBITDA in the first quarter of 2022 driven by an increased customer base, product innovation, effective merger integration program and prudent cost control.
- The total income increased by 48,0% YoY to IDR 10,873 billion.
- EBITDA increased by 29,1% YoY to IDR 4,380 billion, with margin EBITDA up to 40,3%.
- Net Profit attributable to Owners of the Parent Entity was recorded at IDR 129 billion.
- Total cellular subscribers increased by 34.6 million to 94.6 million YoY.
- 98.5% growth in data traffic YoY.
“On behalf of IOH Management, I am pleased to deliver on our strong financial and operational performance in early 2022. This result portrayed our imagined vision for IOH through increased-scale merger, financial strength, and the ability to accelerate the growth and transformation of Indonesia economy to be a digital society. We are committed to continuously present product innovation, integrate our network, and place customer experience as the main focus of our business operations,” stated Vikram Sinha, the President Director and CEO Indosat Ooredoo Hutchison.
In the first quarter of 2022, IOH launched some digital initiatives, including UCan and Bima Kredit. Not only that, IOH also strengthened the strategic cooperation with the global partner in holding Mobile World Congress to bring technology and the best solution to Indonesia.
IOH employee and network integration realized in an accelerated way. 20% of the enterprise integration initiative from the 9 quarter implementation strategy had finished, while the actual synergy was faster than the target.
The company quickly carried out a pilot project to integrate its network with Multi-Operator Core Network (MOCN) technology after the merger was done.
IOH was committed to connect and empower the communities through several Tanggung Jawab Sosial Perusahaan initiatives.
The company released a community empowerment program in Mandalika in order to improve the welfare of the community and the micro, small and medium enterprises (MSME/UMKM) through capital assistance from digital loan platforms owned by Indosat Ooredoo Hutchison, UCan (collaborated with QNB Indonesia) and Bima Kredit (collaborated with Maucash).
As a new entity in consequence of the merger at the beginning of 2022, IOH had officially become the second largest telecommunication business in Indonesia.
With greater scale and power, this company will always give a world class digital experience to the customer. IOH will create more value for the customer and stockholder, as well as quicken Indonesia’s digital transformation. (inboundrem.com)
In the long term, this company will support the government in contributing to equitable access to digital technology in Indonesia by strengthening network infrastructures: adding 11,400 new sites and expanding network coverage to 7,660 new villages throughout the country, which is targeted for completion by the end of 2025.
