XL Axiata (EXCL IJ) (Buy) - Soft 9M24 operating results
NS EWXL Axiata released soft 3Q24 operating results, with 3Q24 profit at IDR292bn (-40% q-q, -21% y-y).
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Indonesia Tower - 9M24 results review
NS EWIn this note, we look at 9M24 results from major Indonesia telecom towercos,
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Sarana Menara Nusantara (TOWR IJ) (Buy) - 3Q24 – IBST value accretive to performance
NS EWHeadline revenue reached IDR3.3tn (+12.0% y-y / +6.0% q-q), bringing 9M24 revenue to IDR9.4tn (+8.4% y-y)
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Telekomunikasi Indonesia Persero (TLKM IJ) (Buy) - In-line 9M24 results
NS EWTLKM has released its consolidated 9M24 results, with headline consolidated profit of IDR17.7tn (-9.4% y-y),
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Indosat (ISAT IJ) (Buy) - Soft 3Q24, as expected
NS EWISAT has released soft 3Q24 results, as expected, with headline profit of IDR1.1tn (-21% q-q / +30% y-y).
Telco Telecoms ISAT ISAT JK ISAT IJ Nicholas Santoso Erwin Wijaya
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Mitratel (MTEL IJ) (Buy) - 3Q24: EBITDA margin improvement
NS EWWe have become more positive on the Indonesia tower sector’s long-term outlook.
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Indosat ISAT IJ -Buy- More liquidity post stock split of 1-to-4 Erratum
NS EWISAT conducted a stock split in the ratio of 1-to-4 on 14 October 2024. Before the stock split, ISAT’s nominal
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Indonesia Telecoms - 3Q24F preview
NS EWIn this note, we assess major telcos’ upcoming 3Q24F results (to be released end of Oct 2024).
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Indonesia Towers - 1H24 results review
NS EWIn this note, we look at 1H24 results from major Indonesia telecom towercos, which have shown positive upward
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Indonesia Telecom - Bottoming ARPUs
NS EWSince the introduction of data services in the Indonesia telecom sector,
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XL Axiata - EXCL IJ - Buy - FTTH a revenue driver
NS EWWe reiterate our Buy call on XL Axiata (EXCL). EXCL share price has declined
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XL Axiata EXCL IJ - Buy - Escaping the decade of doldrums
NS EW RKIn this note, we reiterate our Buy call on the stock. Of late, the stock has declined from a recent high of ~I
Telco Telecoms Nicholas Santoso Erwin Wijaya Raymond Kosasih
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Indonesia towers - Back to growth path
NS EW RKOver the past 2-3 years, organic growth has been slow for Indonesian towercos.
Telco Telecoms Nicholas Santoso Erwin Wijaya Raymond Kosasih
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Tower Bersama Infrastructure
NS EW RKTBIG has released its 1H24 results. Headline 1H24 profit of IDR731bn (+6% y-y) came in slightly behind our FY2
TBIGJK TBIG IJ TELECOMS Nicholas Santoso Erwin Wijaya Raymond Kosasih