Indosat Ooredoo Hutchison (ISAT) Q4 2025 earnings summary

Executive summary

• Delivered strong Q4 2025 results, meeting full-year guidance, with ARPU reaching Rp44,000 and EBITDA growth outpacing revenue growth, setting a solid trajectory for 2026.

• Ended FY25 with growth across all business lines, improved profitability, and solidified position as a leading NeoCloud provider, expanding 5G to 24 cities.

• Consolidated revenue reached Rp56,518 billion for 2025, up 1.1% year-on-year, driven by cellular and MIDI segments.

• Net profit for 2025 was Rp5,818 billion, a 10.3% increase compared to 2024.

• The audit opinion was unqualified, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

Financial highlights

• Q4 2025 revenue grew 9.3% quarter-on-quarter to IDR 15,357bn, driven by cellular and media revenue.

• EBITDA rose 11.6% quarter-on-quarter to IDR 7,249bn, with margin up 1 percentage point to 47.2%.

• Normalized net profit increased 51.2% quarter-on-quarter to IDR 1,993bn, aided by one-off gains.

• Full-year 2025 revenue up 1.1% year-on-year to IDR 56,518bn; EBITDA up 0.8% year-on-year to IDR 26,597bn; margin stable at 47.1%.

• Net profit up 12.2% year-on-year (reported) and 11.6% (normalized), reflecting higher EBITDA and one-off gains.

Outlook and guidance

• 2026 guidance targets mid- to high-single-digit growth in both revenue and EBITDA.

• CapEx planned at around IDR 13 trillion for 2026, in line with previous years, excluding new spectrum license cost and contract-based GPU capex.

• GPU-as-a-Service revenue expected at $50–60 million in 2026, with contracts spanning five to seven years.

• Dividend payout ratio to rise from 55% in 2024 to up to 70% by 2026.

• Management expects continued growth in cellular and digital services, with ongoing capital expenditure focused on network expansion and digital transformation.