The following is a summary of the Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Telkom Group reported a 3.7% YoY revenue increase to IDR 37.4 trillion in Q1 2024, with EBITDA at IDR 19.4 trillion, a 2.2% increase from the previous year.

• Operating net income grew 3.1% YoY to IDR 6.3 trillion, driven by higher growth rate in the consolidated revenue, particularly due to mobile business growth.

• Mobile revenue rose by 32.7% YoY to IDR 28.5 trillion, consisting of IDR 31.9 trillion from the mobile and IDR 6.6 trillion from fixed broadband business.

• Data center and cloud revenue noted a 6.4% YoY growth while international business segment contributed IDR 4.8 trillion to total growth, marking 17.8% increase predominantly due to international wholesale voice business and digital connectivity infrastructure business.

Business Progress:

• Telkom implemented consumer value maximization supported by a corporate network strategy and structured for further growth in mobile business unit Telkomsel.

• It plans to unlock the entire data center business by 2024 by seeking strategic partners for providing retail, expertise, management, and improving timely market-to-market strategy in DC market.

• Mitratel added 3,700 kilometers to its fiber optic network, bringing total network length to 36,300 kilometers.

• The company initiated the EXIST ESG program focused on environmental efforts, skill development, and sustainable governance.

• With the focus on customer segmentation, offered better quality products to youth and mass-market segments, resulting in increased data usage.

• The company is planning to roll out an integrated app to replace separate apps by the end of 2024 and add 40 megawatts capacity to the data center business within the current year, to reach a total of 60 megawatts by 2024.

• Reported a growth of 8.6% in the digital business primarily due to the acquisition product under the Telkomsel Lite brand.

• Progressed towards the reclassification of B2B IndiHome from the total IndiHome revenue, to be finalized by next quarter after the completion of one-off reclassification related to IFRS the previous year.

• Committed to enhancing productivity among subscribers by developing the digital business.

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