Indonesia's IOH makes stunning comeback, revenue up 12.4%

Indonesia's IOH makes stunning comeback, revenue up 12.4%

Indonesian telecommunications provider PT Indosat, trading as Indosat Ooredoo Hutchison (IOH), recorded a net profit of IDR6.75 trillion (US$470 million) in 2021, overcoming an IDR717 billion setback in its previous financial year.

 

The joint venture between Ooredoo and Hutchison Asia Telecom Group said in an earnings release that its total revenue increased 12.4% year-on-year (YoY) to IDR31.38 trillion.

2021 marks the last fiscal year for the company before its merger with PT Hutchison 3 Indonesia to form Indosat Ooredoo Hutchison, which was completed in January 2022.

Indosat Ooredoo Hutchison president director and CEO Vikram Sinha said: “We have been able to deliver strong and consistent performance in the last three years because of the focused execution of our turnaround strategy. We at Indosat Ooredoo Hutchison are obsessed with delivering superior customer experience, which will continue to remain our core priority going forward.”

The customer base of the company expanded by 4.4% YoY to 62.9 million subscribers in 2021. The average revenue per user (ARPU) also saw an increase to IDR34,4000, from previously IDR31,900 in FY 2020.

IOH said that its overall network experience improvements and fine-tuned product portfolio has resulted in data traffic growth by 36.7% YoY. Strong performance on operational metrics reflects growing customer trust in brand IOH.

The company also achieved in the year its commercial 5G launch in five key locations while expanding 4G across the country, turning on 187 new sites to connect remote villages. 

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