Tuesday, August 16, 2011

PT Indosat Tbk - record profit growth of 137.5%

PT Indosat Tbk (ISAT) record profit growth of 137.5% during the first half of 2011. In that period, net income attributable to the owner of the company reached USD 681.9 billion. Compare with earnings in the first half of 2010 and the Rp 287.1 billion.

Though telecommunications companies are operating expenses rose 8.1% compared to operating expenses in the first six months of 2010 to Rp 8.713 trillion. In addition, ISAT revenues rose only 4% to Rp 10.04 trillion.

Details, cellular business contributed revenue of Rp 8.23 ​​trillion, up by 6.3% over the same period the previous year. While the non-cellular business contributed revenue of Rp 1.83 trillion, down 5.3%.

ISAT management explain the increase in profit supported by strong return on foreign exchange and decrease the burden of financing the company. "Corporate debt has fallen by around 11% from a year ago, we've paid off the loan facility of about seven," Harry Sasongko mentioned, President Director of ISAT on Monday (15 / 8).

ISAT total debt in the first half of this year reached Rp 22.07 trillion. This number is down 10.7% from the same period the previous year, ie Rp 24.70 trillion.

ISAT has been paying off debt IV Indosat bonds, Islamic bonds and loans from several financial institutions. The value of debt already paid around Rp 1.1 trillion and U.S. $ 150.3 million. Everything is debt that matures this year.

Mobile operator brand manager Mentari and IM3 also recorded a growth of cellular subscribers. In the first half of the number of cellular subscribers reached 47.3 million subscribers ISAT, or an increase of 25.1%.

But broadband wireless subscribers dropped 32.6% so 506,800 customers. Customer service acces fixed wireless (FWA) also fell 49.7% to 350,500 customers. This resulted in average revenue per user (ARPU) also fell 15.6% to Rp 29,290. Meanwhile, although the number of subscribers fell FWA, FWA ARPU rose by 59.8% to Rp 29,349.

ISAT revenue target this year could grow at least equal to the growth of the telecommunications industry, amounting to 7% -8%. Unfortunately, ISAT is not willing to mention profit targets in 2011. What is clear, "In the third and fourth quarter we expect better performance, we'll see a decrease in operating expenses could reach 10% -15%," said Harry.

Akhmad Nurcahyadi, BNI Securities analyst, assessing the performance of ISAT in the second semester of 2011 could be much better than the performance in the first half of this year. The reason, many moments that can be used to boost revenue. "They could use a boost Eid promotions and programs, but it depends on the company," he said.

Projections related Akhmad ISAT performance targets are not much different from this company. He estimates the company's revenue growth will not be much different from the telecommunications industry. "It could grow a half from 7% -8% is good enough," he explained.

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