Indosat Ooredoo Hutchison (Indosat) has announced its results for the first half of 2024 (H1 2024), showing strong financial and operational performance. In H1 2024, Indosat saw a 13.4% increase in total revenue, totaling USD 1.7 billion and a 17.8% growth in EBITDA, totaling USD 816 million.
The EBITDA margin was 47.9%, demonstrating the company's ability to efficiently convert revenue into earnings. This profitability highlights Indosat's financial health and ability to generate returns for stakeholders. The profit for the year attributable to owners of the parent was USD 166.6 million, up 43.3% year-over-year.
Past Coverage: Indosat Ooredoo Hutchison Reveals Remarkable Financials, Spearheads Indonesia's AI-Native Transformation
Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison, stated that the results reflect the company's strategy to create sustainable value for stakeholders and support Indonesia's digital economy.
Indosat added 900,000 new customers in H1 2024, reaching 100.9 million subscribers. Data traffic increased by 13.4% to 7,965 Petabytes (PB). The company invested USD 275.3 million in network infrastructure, adding 22,000 4G BTS and 103 5G BTS. This expansion aims to enhance customer experience and loyalty.
Indosat also partnered with Mastercard to establish the Indosat-Mastercard Cybersecurity Center of Excellence and with Google Cloud to accelerate its transformation into an AI-native techco. PEFINDO affirmed ISAT's idAAA rating, while Fitch Ratings gave a positive outlook and an AA+(idn) rating.
Indosat was included in the LQ45 Index on the Indonesian Stock Exchange, indicating strong financial condition and growth prospects. Sinha emphasized the company's commitment to sustainable growth and innovation through strategic partnerships and investments in AI and cybersecurity.
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