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Indosat Ooreedoo’s total revenue increases by 9.4 percent during pandemic

Indosat Ooredoo’s President Director and CEO Ahmad Abdulaziz Al-Neama. (Photo: Special)

Jakarta (Indonesia Window) – A telecommunications provider in Indonesia, Indosat Ooredoo, has announced its first semester performance report ending June 30, 2020 with an increase in total revenue of 9.4 percent to 13.5 trillion rupiah (about 9.2 billion U.S. dollars).

The total revenue increased during the COVID-19 pandemic, according to a statement from Indosat Ooraedoo received by Indonesia Window here on Thursday.

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“Today’s results show that Indosat Ooredoo has maintained its growth momentum and delivered solid performance for the first half 2020,” Indosat Ooredoo’s President Director and CEO Ahmad Abdulaziz Al-Neama said.

Al-Neama added that in the midst of the COVID-19 pandemic his company remained on the track with our turnaround plan, expecting to see sustainable performance growth trends maintained in the quarters ahead

In the first half of 2020 Indosat Ooredoo’s cellular revenue increased by 11.8 percent to 11.1 trillion rupiah (about 7.6 billion U.S. dollars), and EBITDA (Earning Before Interest, Taxes, Depreciation, and Amortization) reached 4.4 trillion rupiah (about 3.02 billion U.S. dollars) or an increase of 22.5 percent.

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Meanwhile, EBITDA margin was recorded at 40.4 percent, an increase of 4.3 percent compared that in last year.

At the end of June 2020, the number of Indosar Ooredoo’s cellular subscribers reached 57.2 million, an increase of 0.9 percent compared to last year.

Average revenue per user (ARPU) increased to 31.4 thousand rupiah (about 2.16 U.S. dollars) from 27.9 thousand rupiah (about 1.92 U.S. dollars) in the first semester of 2019, with data traffic growing by 61 percent compared to last year.

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” This shift to online lifestyles is likely to be long lasting and Ooredoo Indosat remains fully committed to supporting Indonesia’s digital agenda, which we expect to be a vital driver of the country’s economic growth as we emerge from the pandemic,” Al-Neama noted.

He asserted that the improvement of the company’s performance is in line with efforts to maintain the health and safety of employees by implementing virtual ways of working wherever possible.

Indosat Ooredoo (IDX:ISAT) is a member of Ooredoo Group, an international communications company operating across the Middle East, North Africa and Southeast Asia.

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Ooredoo generated revenues of 30 billion qatari riyal (about 8.2 billion U.S. dollars) as of 31 December 2019.

Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.

Reporting by Indonesia Window

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