Surging Data Services Boosts Telkom’s 2012 Earnings
(The Insider Stories) - Indonesia’s biggest telco firm booked saw its 2012 net income surged slightly over 17%, driven by strong growth in its data services.
PT Telekomunikasi Indonesia, or Telkom, said on Thursday that its broadband subscribers grew by 82.8% year-on-year and cellular subscribers base increased 16.9% to 125.1 million.
That drove 2012 revenue up 8.3% to 77.14 trillion rupiah (about $8 billion) despite stiff domestic competition.
The lion’s share of the revenue came from its cellular unit Telkomsel—partly owned by Singapore’s sovereign wealth fund via SingTel—which contributed 54.5 trillion rupiah.
By services, cellular voice continued to be the biggest contributor to Telkom’s revenue, although the relatively new frontier of data services came in as a close second.
Earnings from cellular voice grew 7.5% to 30.73 trillion rupiah, contributing to nearly 40% of Telkom’s revenue.
Data services, however, growing at far rapid pace of 15.5% to 27.62 trillion rupiah, equal with 36% of the company’s revenue.
As the company managed to keep expenses in check, total expenditure only grew 4.4% to 51.45 trillion rupiah, net income grew at high double digit.
Net profit surged to 12.85 trillion rupiah in 2012 from 10.97 trillion rupiah in the previous year. Assets grew 8.1% to 111.37 trillion rupiah in the same period.
Telkom’s shares ended down 4.5% at 10,600 on Thursday as investors cashing in gains following a 5.7% rise the day earlier. (Andre de Zwart)
