Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (TLKM) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was Rp36,639 billion, a 2.1% decrease year-over-year from Rp37,429 billion in Q1 2024.

• Net profit for the period was Rp7,597 billion, down 2.9% from Rp7,820 billion in Q1 2024.

• Operating profit reached Rp10,488 billion, a 4.7% decline compared to Q1 2024.

• The company maintained strong liquidity, with cash and cash equivalents at Rp34,410 billion as of March 31, 2025.

• Enterprise and Wholesale & International segments contributed positively, with enterprise revenue up 2.9% YoY and wholesale & international up 0.6% YoY.

Financial highlights

• Total assets stood at Rp299,546 billion, with total equity of Rp170,302 billion as of March 31, 2025.

• Basic earnings per share for Q1 2025 was Rp58.65, compared to Rp61.10 in Q1 2024.

• Net cash provided by operating activities was Rp16,776 billion, up from Rp15,830 billion in Q1 2024.

• Capital expenditures for the quarter were Rp4,959 billion.

• Capex to revenue ratio was 13.5% in 1Q25, slightly down from 13.6% in 1Q24.

Outlook and guidance

• 2025 guidance targets low single-digit revenue growth, EBITDA margin of approximately 50-52%, and capex/sales ratio of 17-19%.

• Management expects most of the transaction price allocated to unsatisfied contracts as of March 31, 2025, to be recognized as revenue in the next reporting periods.

• Unsatisfied performance obligations expected to be realized within one year amount to Rp6,474 billion, and more than one year Rp4,186 billion.

• Management remains cautious due to global uncertainties and revised GDP growth expectations for Indonesia.