Indosat Ooredoo Hutchison delivered strong financial performance in the nine months that concluded on September 30, 2023. This encompassed year-on-year revenue growth and EBITDA enhancements. During this period, Indosat witnessed a total revenue surge of 8.5% to reach USD 2.4 billion in the first nine months of 2023, driven by the cellular, MIDI, and fixed telecom business segments.
Topline growth and cost efficiency drove EBITDA up 24.0% YoY to USD 1.1 billion in the first nine months of the year, resulting in a 46.6% EBITDA margin. The profit for the current period attributable to the owners of the parent entity was USD 179.5 million. Indosat has achieved a record with 11 consecutive net profit quarters.
Vikram Sinha, President Director & CEO of Indosat Ooredoo Hutchison expressed his enthusiasm by stating, “Our performance has been driven by our commitment to excellence, a meticulously planned go-to-market strategy and our unwavering focus on delivering a marvelous experience for customers. Indosat’s scale and performance are enabling us to make real strides forward in delivering on our larger purpose to connect and empower the people of Indonesia by accelerating the nation’s digital transformation.”
Indosat’s Digital Revolution and Expansion
Indosat continues to expand its network and provide clients with world-class digital experiences using simple and transparent products. This emphasizes the company's focus on engaging high-quality clients and launching new digital services to boost user spending.
Indosat has advanced Indonesia's digital revolution, which aims to connect and empower its people, by strengthening its 4G network in Nusa Tenggara, Eastern Indonesia, extending digital inclusion and giving the population endless possibilities. Indosat's network transmitters have increased mobile internet capacity compared to previous year, reaching more than 80% of Nusa Tenggara's population. The company is continuously expanding into rural, Eastern Indonesia to close the digital gap.
Indosat Partners with ITU and Cisco
Furthermore, Indosat partnered with ITU and its Digital Transformation Centers (DTC) Initiative to improve digital literacy and skills training in distant and impoverished Indonesian areas. They also announced a new partnership with Cisco to add Cisco Networking Academy cybersecurity training courses to its successful IDCamp training program. Partnerships are a fundamental aspect of Indosat's digital empowerment strategy.
Indosat CSR Initiatives Alongside Improved Data Protection
Indosat strengthened its corporate social responsibility efforts, including IDCamp and SheHacks, to promote digital and gender equality.
Additionally, Indosat is improving its privacy and data protection processes to match the highest standards and align with its company-wide commitment to excellence.
“We believe we are on the right pathway to transform Indosat from a telecommunication company into a technology company and lead the industry’s digital transformation. With the spirit of ‘Gotong Royong’ or ‘togetherness’, we will continue our infinite journey towards empowering Indonesia and helping to put the nation at the forefront of the region’s digital transformation journey,” Vikram concluded.