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First Half 2006 Results Page 1
PT Indosat Tbk
First Half 2006 Results
First Half 2006 Results Page 2
Key Highlights in 1H 2006 (YoY)
Operating revenues Flat (-0.2%)
IDD traffic increased by 14.3 %
EBITDA increased by -2.6%
MIDI revenues increased by 13.1%
Net Income increased by -30.2%
Cellular Subscribers growth by 7.7%
First Half 2006 Results Page 3
Key Business Segment
Cellular Business Fixed Telecomm (Voice) Data Com & Broadband
Matrix – Postpaid for high end with advanced features
Mentari –Prepaid for general users
IM3 – Prepaid for the young & trendy
Indosat• International Leased Circuit• International Frame Relay/ATM• VSATs• Wholesale Internet Access
IDD 001 – Premium IDD
IDD 008 – Budget IDD
FlatCall 016 – Flat Rate IDD
StarOne – Fixed Wireless Access
GlobalSave – VoIP Service
• Domestic Leased Circuit• Domestic Frame Relay/ATM• VSATs• Corporate Solutions
• IP – Virtual Private Network• Dedicated and Dial Up Internets• Wi-Fi & HotSpots
First Half 2006 Results Page 4
TELKOM, 54.1%
BAKRIE TELCO, 17.9% MOBILE8,
24.7%
StarOne, 3.3%
Operators & Market Share at 1H-06
Source: Company reports and estimates
GSM Operators (Major Holders)• Indosat (ST Telemedia)• Telkomsel (Singtel & Telkom)• Excelcom (Telekom Malaysia)
Fixed Wireless CDMA• Bakrie Telecom (Bakrie)• Telkom Flexi (Telkom)• “StarOne” (Indosat)
Mobile CDMA • Mobile-8 (Bimantara)
New License Holders• Hutchison CP Tel• LippoTelecom (Maxis)
INDOSAT, 26.9%
TELKOMSEL, 56.8%
XL, 16.3%GSM, 89%
CDMA, 11%
First Half 2006 Results Page 5
Cellular Subscribers Composition
Cellular Subscribers(Rp billion)
ARPU
0
50,000
100,000
150,000
200,000
250,000
300,000
1H-05 1H-06
Prepaid Postpaid Blended
Subs Composition as end of 1H06
Non Java, 19%
Java, 81%
Subs composition as end of 1H06 (in 000)
Prepaid95%
Postpaid5%
4,312
7,355
12,87513,860
1H03 1H04 1H05 1H06
First Half 2006 Results Page 6
MIDI Revenue
Revenue
-
100
200
300
400
500
600
700
800
900
1,000
1H03 1H04 1H05 1H06
Reve
nue
(In
Mil
lion
Rup
iah)
Change1H061H05UnitDescription
Data Communications & Broadband
Indosat : (Accumulated Numbers) Wholesale International High Speed Leased Circuit cct/64k 3,342 7,816 133.9% Domestic High Speed Leased Circuit cct/64k 21,618 37,638 74.1% Satellite Transponder Leased (external usage) # transp 12.7 12.3 -3.1% Datacom International High Speed Leased Circuit cct/64k 581 861 48.2% Domestic High Speed Leased Circuit cct/64k 4,276 6,381 49.2% Frame Relay port 929 982 5.7% IPVPN cct/64k 645 4,214 553.3% Lintasarta : (Accumulated Numbers) High Speed Leased Line (SDL) link 1,626 1,226 -24.6% Frame Relay access 4,450 4,381 -1.6% VSAT terminal 1,736 1,775 2.2% IPVPN link 1,598 2,565 60.5%
IM2 Internet Dial Up user 29,048 28,883 -0.6% Internet Dedicated link 717 1,149 60.3% IPVPN link 319 159 -50.2%
§ MIDI revenues increased 13.1% (YoY).
§ The main driver of growth is the increase from corporate IP-related services such as IP-VPN, Internet Access and Frame Relay
First Half 2006 Results Page 7
Fixed Telecommunication (Voice)
MIDI16.1%
Cellular74.4%
SLI9.5%
0
100,000
200,000
300,000
400,000
500,000
600,000
1H03 1H04 1H05 1H06Outgoing Incoming
Trend in IDD Traffic(in thousands minutes))
70% 75%
30% 25% 17% 13%
83% 87%
Revenues Composition (2Q06)
§ Fixed telecommunication contributed 9.5% to operating revenues mostly from IDD revenues.
§ Increasing contribution from FWA, fixed line and DLD but not yet significant at this moment.
First Half 2006 Results Page 8
Cellular Network Coverage
167Base Station Controllers47Mobile Switching Centers
6,248Base Transceiver Stations1H06
Indosat NationwideCellular Coverage
Number of BTS
Java, 67.4%
Non Java, 32.6%
First Half 2006 Results Page 9
Financial Performance (YoY) In billion Rupiah
Operating Revenues Rp5,767.1 -0.2%
Operating Income Rp1,567.8 -18.2%
EBITDA Rp3,306.1 -2.6%
Other Income (Expenses) (Rp744.5) 2.6%
Net Income Rp548.8 -30.2%
First Half 2006 Results Page 10
6,767
8,230
10,430
5,781 5,767
11,590
2002 2003 2004 2005 1H05 1H06
3,394 3,3063,6624,386
6,0176,732
57.3%
58.7%
54.1%
58.1%57.7%
53.3%
2002 2003 2004 2005 1H05 1H06
EBITDA EBITDA Margin
Revenues and EBITDA growth
Indosat recorded healthy revenues and EBITDA growth
(Rp billion)
Revenues EBITDA and EBITDA Margin(Rp billion)
First Half 2006 Results Page 11
Sound Balance Sheet
53.3%
57.7% 58.1% 58.7%57.3%
2003 2004 2005 1H05 1H06
EBITDA Margin Interest Coverage
Debt to EBITDA Net Debt to Equity
190.7% 191.9%224.5% 222.5% 220.8%
2003 2004 2005 1H05 1H06
48.9%41.6%
54.4%
42.5%
56.0%
2003 2004 2005 1H05 1H06
531.4%
559.2%542.6%
578.9%
536.7%
2003 2004 2005 1H05 1H06
First Half 2006 Results Page 12
Composition of Assets & Liabilities
0
100
200
300
400
500
600
700
800
900
Others 512
Payables 293Bonds Payable 550Receivables 121Cash & Equivalent 210
Liabilities Assets Net
In US$ million as of 30 June 2006
§ Indosat is relatively hedged against currency and interest rate fluctuations (94% of debts had fixed interest rate as of 30 June 2006).
§ Net liabilities in US$ was US$512.3 million of which US$375 million was hedged as of 30 June 2006.
Cash and its Equivalent(Per 30 June 2006 Total Rp 3,671.5 bio)
Rupiah41%
US$59%
Payables(Per 30 June 2006 Total Rp11,633 bio)
54%
46%
First Half 2006 Results Page 13
Public
Listed on the JSX, SSX and NYSE
Note:(1) Per 30 June 2006
Republic of Indonesia
41.06% 44.56% 14.38%
§ Indosat’s shares are majority owned by public investors (44.56%)
§ ST Telemedia through Indonesia Communications Limited owns (41.06%)
§ Indonesian Government owns 14.38% including Series A share
Committed Shareholders
First Half 2006 Results Page 14
Key Initiatives in 1H-2006
Established Sales and Performance Focus OrganizationNew Structure Launch in April
Expand regional offices from 5 regions to 8 regions
Confidently launch innovative marketing and promotion initiatives
Enhance network Coverage, Quality and CapacityResolved the network swap issues
Roll-out additional BTS
Improve capacity and quality (in Java) and coverage (ex-Java)
First Half 2006 Results Page 15
Marketing initiatives
Mentari Freetalk, FlatZone, Bundle with Nokia
Raja SMS IM3, Long Validity Voucher, Bundling with Motorola C-113
Initial Results Intention
• Daily Sales increased by 12.2%• Average Daily User at Freetalk period
increased by 376% • Reload voucher increased by 5.9%• MoU increased by 31.4% (local) and
67.5%(on-net)
• Daily Sales increased by 23% • Traffic SMS IM3 (delivered)
increased by 43%• Cheapest bundle for GSM Handset
(Rp299K)
To position Mentari as a best offer in voice services
To position IM3 as the best offer in SMS services
• Innovative Value Added Services:
• I-Ring (Ring backtone)• I-Say (Voice SMS)• I-mofis (Mobile Office)
To increase revenue through various Value Added Services
First Half 2006 Results Page 16
Recent Development
§ The regulator requires operator to complete mandatory prepaid registration by September 2006. Unregistered customers should deleted from the system.
§ As of August 15 2006, we have registered 13.37 million customers or around 97% of our total customers.
Prepaid Registration
§ All operators have submitted Reference Interconnect Offer (RIO) to and approved by regulator.
§ New Interconnection scheme will be implemented in January 2007.
New Interconnection
Scheme
§ Indosat launched Fixed Wireless Access (FWA) through its brand Jagoan and StarOne Postpaid for Palembang area as part of its plan to expand FWA services in 15 cities during year 2006.
§ In addition to Palembang, currently, StarOne is available in 8 cities in Indonesia, Jakarta, Bogor, Surabaya, Malang, Medan, Batam and Pekanbaru.
Fixed Wireless Access (StarOne)
First Half 2006 Results Page 17
Moving Forward
§ Continue Network Improvement : simplifying and integration
§ Prepare the roll-out of 3G Network for launch in the second half of 2006
§ Opening up new cities for GSM and FWA
Network and Services
§ Following up the next phases of Marketing Initiatives
§ Allocating additional marketing and promotion dollars
§ Fine tuning the distribution network and strategy
Marketing Strategy
§ Committed US$700 million for 2006
§ Business growth justifies aggressive roll-out moving forward
§ Planning had started and will be announced after 3Q-06 results release
Capex
First Half 2006 Results Page 18
Thank You
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