Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (TLKM) Q3 2025 earnings summary

Executive summary

• 9M25 revenue was Rp109.6tn, down 2.3% YoY, with stabilization in 3Q25 as revenue grew 0.7% QoQ to Rp36.6tn.

• Net income for 9M25 was Rp15.8tn, down 10.7% YoY, and operating profit declined to Rp29.2tn.

• Mobile customer base remained stable at 157.6mn, with ARPU declining 4.7% YoY to Rp42.4K, but data payload surged 17.2% YoY.

• IndiHome revenue increased 0.5% YoY to Rp19.7tn, though ARPU fell 9.4% YoY, reflecting a shift to internet-only packages.

• Cash dividends of Rp21.0tn were distributed in 2025, up from Rp17.7tn in 2024, and a share buyback of 1.75mn shares for Rp5bn was completed.

Financial highlights

• Data, Internet & IT Services revenue declined 4.6% YoY to Rp64.8tn, but grew 5.5% QoQ in 3Q25.

• Total assets as of September 30, 2025, were Rp291.9tn, down from Rp299.7tn at year-end 2024.

• Net cash provided by operating activities was Rp49.6tn, up from Rp45.9tn YoY.

• Capital expenditures for 9M25 were Rp15.4tn, focused on digital infrastructure.

• Depreciation & amortization rose 3.4% YoY to Rp25.1tn, driven by accelerated depreciation of underutilized assets.

Outlook and guidance

• 2025 revenue guidance revised to slight contraction, with EBITDA margin expected around 50% and capex-to-revenue ratio at 17-19%.

• Unsatisfied performance obligations expected to be realized within one year total Rp7.5tn, and more than one year Rp3.7tn.