Company Report | Slightly Depressed Due to Increase in Opex

Coal Average Selling Price Increase

In the first semester of 2023, TLKM’s revenue grew 2.1% to IDR 73,478T YoY (1H22: IDR 71,983T), as well as Operating Profit increased by 0.4% YoY to IDR 23,019T (1H22: IDR 10,611T). EBITDA decreased by 2.7% YoY to IDR 38.384T (1H22: IDR 39.447T). TLKM’s net profit decreased by -4.2% YoY to IDR 12.756T (1H22: IDR 13.310T). One of the causes and driving factors of the decline in EBITDA and Net Profit that eroded in the first semester of 2023 was a slight increase in Opex, which was dominated by the cost of additional spectrum frequency acquisitions.

Asset Growth

In the first semester of 2023, TLKM’s revenue grew 2.1% to IDR 73,478T YoY (1H22: IDR 71,983T), as well as Operating Profit increased by 0.4% YoY to IDR 23,019T (1H22: IDR 10,611T).