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First Quarter 2007 Results
23 May 2007
PT Indosat Tbk
JSX : ISAT
NYSE : IIT
Reuters : ISAT.JK
Bloomberg : ISAT.IJ
Market Capitalization
Rp 33.96 trillion (As of 31 March 2007)
Issued shares
5,433,933,500
Share Price
Rp6,250(As of 31 March 2007)
Hi/Lo (3 months) Rp6,700/Rp5,600
Major Shareholders(As of 31 March 2007)
Indonesia Communications Ltd 39.96%
Indonesia Communications Pte. 0.85%
Government of Indonesia 14.29%
Public 44.90%
IDR to USD Conversion
1 USD = Rp9,118(31 Mar 2007)
Board of Directors
President Director– N/A
Deputy President Director- Kaizad B. Heerjee
Jabotabek & Corporate Sales Director – Johnny Swandi Sjam
Marketing Director– Wahyu Wijayadi
Regional Sales Director – Wityasmoro S. H.
Network & IT Director – Raymond Tan
Finance Director/CFO – Wong Heang Tuck
Corporate Services Director – S. Wimbo S. Hardjito
Director – Joseph Chan
Consolidated Subsidiaries
PT Aplikanusa Lintasarta (72.36%)
PT Indosat Mega Media (99.85%)
Indosat Singapore Pte Ltd (100%)
Indosat Finance Company BV (100%)
Indosat International Finance
Company BV (100%)
Financial Summary
For Period Ended 31 March
In Rp billion (unless stated) | 2006 | 2007 | (%) Change |
Operating Revenues | 2,899.6 | 3,774.8 | 30.2% |
Operating Expense | 2,051.2 | 2,733.0 | 33.2% |
Operating Income | 848.4 | 1,041.8 | 22.8% |
Net Income | 383.9 | 483.9 | 26.0% |
EBITDA1) | 1,684.9 | 2,018.7 | 19.8% |
Financial Ratios
Formula | 2006 | 2007 | |
EBITDA Margin | EBITDA / Operating Revenues | 58.1% | 53.5% |
Interest Coverage | EBITDA/Interest Expense | 524.69% | 686.90% |
Debt to EBITDA | (Debt + Procurement Payable) / EBITDA (Annualized) | 213.50% | 184.30% |
Net Debt to Equity | Net Debt / Total Equity | 53.80% | 54.30% |
1) EBITDA: Earning before interest, tax, depreciation and amortization
Highlights of the First Quarter 2007
·
In line with market practice, we have, this year reported our revenue on a gross basis. This new reporting format has resulted in an increase in operating revenues and at the same time, an increase in interconnection expenses which has impacted the EBITDA margin.
Previous Reporting Format | ||
Account (In Rp billion) | 1Q-2006 | 1Q-2007 |
Revenue | 2,899.6 | 3,454.4 |
EBITDA | 1,684.9 | 2,018.7 |
EBITDA Margin | 58.1% | 58.4% |
·
Since Q3 2006, Indosat has continued its growth momentum. Operating revenues in the Q1 2007 was almost Rp. 3.8 trillion or reflecting a growth of 30.2% over the same period last year. Cellular revenues grew by 33.5% in the first quarter of 2007 and net profit growth was 26.0% over the same period last year.
·
In Q1 2007, Indosat’s cellular subscriber reached 18.0 million subscribers. This represented a 39.1% growth on a year-on-year basis and a 7.9% growth over the subscriber base at the end of December 2006.
·
Cellular, fixed data (Multimedia, data communications and internet) and fixed voice services contributed 77%, 13% and 10% respectively to operating revenues.
·
Fixed data services revenues was Rp. 494 billion, an 8.3% growth compared to the same period last year due to increase in demand of services such as leased circuits and IP-VPN.
Fixed voice services revenues was Rp. 383 billion, an increase of 40.5% compared to last year due to the change in reporting of interconnection and revenue increase in international call (IDD) and in fixed wireless services. Currently, Indosat fixed wireless access services are available in 22 cities.
Investor Relations Division
Phone:+62213869614/310031001
PT Indosat Tbk.
Fax : +62 21 3804045
Jl Medan Merdeka Barat 21
E-mail : investor@indosat.com
Jakarta – Indonesia
http://www.indosat.com
INDOSAT’S FIRST QUARTER 2007
LIMITED REVIEW OF FINANCIAL AND OPERATING RESULTS
Jakarta, 23 May 2007 PT Indosat Tbk (“Indosat” or “the Company”) released its consolidated First Quarter 2007 limited review of financial and operational results reports from its independent auditor (Purwantono, Sarwoko & Sandjaja, a member of Ernst & Young Global). The Company recorded operating revenues, and operating income for the period ended 31 March 2007 amounting to Rp 3,775 billion and Rp 1,042 billion respectively. Net income was recorded as Rp 484 billion. Cellular, fixed data (MIDI), and fixed voice services contributed 77%, 13% and 10% to operating revenues, respectively.
The financial statements were prepared in accordance with the Indonesian Generally Accepted Accounting Principles.
FINANCIAL & OPERATIONAL RESULTS
Operating revenues
Cellular services revenues. In the First Quarter 2007, Indosat recorded cellular operating revenues of Rp2,899 billion, an increase of 33.5% from Rp2,172 billion in the First Quarter 2006. As at 31 March 2007 there were 18.0 million subscribers or a total net add of 1.3 million subscribers from end of 2006. Indosat’s customer base consisted of 95% prepaid and 5% postpaid subscribers. This subscriber growth was attributed to our various innovative marketing programs and improved distributionship as well as the network quality starting from mid 2006.
Fixed Data (MIDI) services. Operating revenues from fixed data services grew 8.3%, from Rp456 billion in First Quarter 2006 to Rp494 billion in First Quarter 2007. The increase in fixed data revenues was primarily contributed by the growth in leased line & IPVPN due to increased demand from corporate and wholesale customers.
Fixed Voice services. Operating revenues from Fixed Voice services increased from Rp272 billion to Rp 382 billion or grew by 40.5% on a year-on-year basis due to the new reporting format for interconnection and revenue increase in international call (IDD) and revenue increase in fixed wireless services.
Operating expenses
Operating expenses increased by Rp682 billion, or 33.2%, from Rp2,051billion in the First Quarter 2006 to Rp2,733 billion for the First Quarter 2007. This is due to the new reporting format for the interconnection and increased expenses for compensation, depreciation & amortization, personnel, marketing, maintenance and leased circuit expense.
Compensation expenses.It increased by Rp 319.6 billion or 373.4% from Rp86 billion in the First Quarter 2006 to Rp405 billion for the First Quarter 2007. The increase in compensation expenses was primarily due to the change in reporting format of the interconnection expense.
Depreciation and amortization expenses.It increased by Rp 140.5 billion or 16.8% from Rp837 billion in the First Quarter 2006 to Rp977 billion for the First Quarter 2007. The depreciation expenses increased was due to the increase in capital expenditure mainly in cellular equipments.
Personnel expenses.It increased by Rp68.9 billion, or 24.0%, from Rp287 billion in First Quarter 2006 to Rp356 billion in First Quarter 2007. Personnel expenses grew primarily due to increases in salary, employee income tax and early retirement costs.
Marketing expenses. It increased by Rp61.0 billion or 76.0%, from Rp80 billion in First Quarter 2006 to Rp141 billion in First Quarter 2007. The increase was due to aggressive marketing campaigns & promotion and loyalty programs.
Maintenance expenses.It increased by Rp58.2 billion, or 45.2%, from Rp129 billion in First Quarter 2006 to Rp187 billion in First Quarter 2007. Maintenance expenses grew primarily for cellular, building, submarine cable and IT equipment.
Leased Circuit Expenses.It increased by Rp12.5 billion, or 31.0%, from Rp40 billion in First Quarter 2006 to Rp53 billion in First Quarter 2007. Leased circuit expenses grew primarily due to leased line and transponder leasing in relation to increase in MIDI revenue and cellular network and also restorations due to damage in submarine cable due to earthquake in Taiwan.
Other expenses
Indosat recorded an increased in other expenses from Rp291 billion in First Quarter 2006 to Rp329 billion in First Quarter 2007.
Gain (Loss) on Foreign Exchange-Net. Indosat recorded a loss in net-foreign exchange of Rp49 billion in the First Quarter 2007 compared to a gain of Rp265 billion in First Quarter 2006 due to weakening of the Rp against the US Dollar. This forex loss was offset by a gain on derivatives of Rp69 billion in the First Quarter 2007.
Interest income. It slightly decreased from Rp67 billion in First Quarter 2006 to Rp35 billion in First Quarter 2007 due to the decrease in the average cash balances.
Financing cost. It decreased by 7.6% from Rp328 billion in First Quarter 2006 to Rp304billion in First Quarter 2007, due to the repayment of Bond Indosat-I in April 2006.
EBITDA and EBITDA margin
Indosat recorded First Quarter 2007 EBITDA of Rp2,019 billion or increase by19.8% compared to same period in 2006. The new reporting format resulted in higher operating revenues but lower EBITDA margin of 53.5%.compared to the same period last year.
Net income
Indosat recorded First Quarter 2007 net income of Rp484 billion or increase by26% compared to same period in 2006.
Status of debt
As of 31 March 2007, the Company had outstanding debt of Rp11,470.3 billion which includes Loans payable (including current maturities and unamortized debts issuance cost) of Rp1,622.4 billion and bonds payable (including current maturities, unamortized bonds/notes issuance cost and unamortized notes discount) of Rp9,847.9 billion. The debt composition was USD denominated of 45.9% and Rupiah denominated of 54.1%. We have hedging facilities amounting to USD400 million or representing 68.47% of our USD denominated borrowings.
Indosat’s cash position as at 31 March 2007 was Rp2,954.6 billion, therefore the net debt was Rp8,515.7 billion.
Facility | Amount | Maturity | Interest Rate |
INDOSAT | |||
Bonds II (Rp billion) | 1,075 | 2007 and 2032 | Series A Fixed 15.75% p.a., Series B Fixed 16% p.a. and Series C Floating maximum 18.5% p.a. and minimum 15% p.a. |
Syariah Mudharabah (Rp billion) | 175 | 2007 | Revenue-sharing |
Bonds III (Rp billion) | 2,500 | 2008 and 2010 | Series A Fixed 12.5% p.a. and Series B Fixed 12.875% p.a. |
Bonds IV (Rp billion) | 815 | 2011 | Fixed 12.0% p.a. |
Syariah Ijarah (Rp billion) | 285 | 2011 | Fixed Ijarah Return amounting to Rp8.55 payable on a quarterly basis |
Guaranteed Notes I (US$ Million) | 300 | 2010 | Fixed 7.75% p.a. |
Guaranteed Notes II (US$ Million) | 250 | 2012 | Fixed 7.125% p.a. |
Syndicated Loans – Mandiri (Rp billion) | 120.6 | 2008 | Fixed rate of 9.3% for 2 years, floating rate 3-month time deposits rate guaranteed by BI + 2.5% (min. 10.5%) for the following year |
Syndicated Loans – BNI (Rp billion) | 517.6 | 2008 | Fixed rate of 9.3% for 2 years, floating rate 3-month time deposits rate guaranteed by BI + 2.5% (min. 10.5%) for the following year |
Syndicated Loan – BCA (Rp billion) | 611.8 | 2008 | Fixed rate of 9.3% for 2 years, floating rate 3-month time deposits rate guaranteed by BI + 2.5% (min. 10.5%) for the following year |
Finnish Export Credit Facility (USD Million) | 34.2 | 2011 | 4.15% Fixed Rate |
LINTASARTA | |||
Loans payable from Niaga (Rp billion) | 65.3 | 2007 - 2009 | 3-month time deposit rate guaranteed by BI or annual rate of 3-month Certificate of Bank Indonesia + 2.75% up to 3.5% |
Limited and Convertible Bonds (Rp billion) | 61.9* | 2009 and 2007 | Floating maximum 19% p.a. and minimum 11% p.a. |
*After elimination of limited and convertible bonds issued to the Company
For the purpose of revenue sharing calculation on Indosats Syariah Bond, the table below presented consolidated Indosat satellite revenue and PT Indosat Mega Media’s Internet revenues as the basis for revenue sharing calculation.
Revenues In Mio Rp | 1Q-06 | 2Q-06 | 3Q-06 | 4Q-06 | 1Q-07 |
Internet (IM2) | 88,139 | 99,346 | 84,921 | 95,902 | 94,706 |
Satellite (Indosat Consolidated) | 34,909 | 33,165 | 32,260 | 24,140 | 22,322 |
Capital expenditures
In First Quarter 2007, Indosat committed Rp6,719.4 billion of capital expenditure. The total committed capital expenditures consist of:
(i)
Rp6,430.2 billion for cellular network,
(ii)
Rp179.6 billion for fixed telecom, MIDI and Backbone,
(iii)
Rp104.2 billion for Network and Information Technology, and
(iv)
Rp5.4 billion for Region and Property
Network Development Updates
In the First Quarter 2007, Indosat operates 7,666 BTSs all over Indonesia.
As of March 31 | 2006 | 2007 | Net Add |
Base stations (2G and 3G) | 5,971 | 7,666 | 1,695 |
Base station controllers | 162 | 180 | 18 |
Mobile switching centers | 51 | 50 | -1 |
Cellular services
Entering year 2007, Indosat has launched a number of cellular marketing initiatives to maintain the momentum as follows:
§
Launched new umbrella for Mentari campaign called as “Mentari Seru”. This campaign is continuing promotion for a “double free talk”, which is consist of 2 days free night talk for every Rp.25,000 Top Up or above and Rp.10,000 free talk for the same day if customers uses their pulses minimum Rp.10,000. The free night talk can be uses to call to other Mentari customers. Besides of those benefits, Mentari Seru also gives 20 SMS bonuses to customer at a first activation.
§
Consistent with a retention program which has been launched in 2006,Indosat also continue a customer loyalty program through Poin Plus Plus. This initiative is an appreciation for all GSM and CDMA Indosat customers through a mechanism of point collection based on reload for prepaid customers, billing for postpaid customers and customer lifetime. Their point collection will be determined as usages multiply by their subscription period. Customers will get 1 point for every Rp. 100 usage or reload. Points can be exchanged with various type of rewards i.e. pulse, SMS and I-Ring. Points can also be utilized to enter competitions to win cars, handset and other various rewards periodically.
.
Fixed Data (MIDI) Services
During First Quarter of 2007, the overall Fixed Data services enjoyed a positive growth, especially for high speed leased circuit and IP-VPN.
Key initiatives that Indosat undertook for this business in First Quarter 2007 are the following:
§
Indosat undertook aggressive sales activities for both domestic and international broadband services with competitive price
§
Strengthen partnership with Global Telecommunication Provider through bilateral, agent, or consortium concept with attractive business model
§
Indosat also offered affordable corporate solutions through MPLS and Metro Ethernet as alternate efficient transmission.
Fixed Voice Services
International call services
Indosat recorded total international call traffic of Indosat of 341.6 million minutes, an increase of 25.8% compared to the same period last year driven by growth of international traffic.
In First Quarter 2007, Indosat launched promotion program for IDD FlatCall services which offered IDD tariff of Rp.100 per 6 second (including airtime and VAT) to Indosat cellular customers when they dial IDD calls using 01016 access code. This IDD offer is applied for customers in specific regions (Sumatera, Batam and East Java) to certain destination countries and also for nationwide customers to top 10 destination countries.
Fixed Wireless Access Services
As of 31 March 2007 Indosat fixed wireless access subscriber base were 434,217 comprised of 24,051 postpaid subscribers and 410,166 prepaid subscribers. The blended ARPU was Rp35,354 derived from Postpaid ARPU of Rp191,286 and Prepaid ARPU of Rp26,449 in the First Quarter 2007.
RECENT DEVELOPMENTS
Launched 3.5G services in 16 cities
Indosat launched 3.5G services in 16 cities which are Jakarta, Surabaya, Bandung, Yogyakarta, Medan, Balikpapan, Semarang, Denpasar, Batam, Makassar, Jepara, Kudus, Cepu, Salatiga, Magelang dan Cilacap. With Full HSDPA technology, data transfer can reach up to 3.6 Mbps or nine times faster than regular 3G.
Mentari on net local call tariff promotion
In early April 2007, Indosat launched new marketing promotion of “Mentari Seru” which offered special on net call tariff promotion of Rp.50 per 30 second among Mentari customers.
Indosat gained approval from BAPEPAM to issue Indosat Bond V and Sukuk Ijarah
On May 16, 2006, Indosat gained approval from BAPEPAM to issue Indosat Bond V of Rp2,600 billion and Sukuk Ijarah II of Rp400 billion in Indonesian Rupiah of totaling Rp3,000 billion to support our aggressive network program. Indosat Bond V are divided by two series, i.e., series A will mature in seven years amounting of Rp1,230 billion while series B will mature in ten years amounting of Rp1,370 billion. Indosat Sukuk Ijarah II will mature in seven years.
Disclaimer:
This document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of Indosat, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law.
Forward looking statements are subject to risks and uncertainties that may cause actual events and Indosat's future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by Indosat, or indicated by any such forward looking statements, will be achieved.
PT INDOSAT Tbk AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2006 AND 2007
(Expressed in Billions of Indonesia Rupiah and Millions of U.S. Dollars)
DESCRIPTION | 2006 | 2007 | |||||
Rp | Rp | Us$ (1) | |||||
ASSETS | |||||||
CURRENT ASSET | |||||||
Cash and cash equivalents | 4,136.1 | 2,954.6 | 324.0 | ||||
Short-term investments - net of allowance | 42.5 | - | - | ||||
Accounts receivable – net of allowance | |||||||
Trade | |||||||
Related parties | |||||||
PT Telkom Tbk | 118.0 | 79.2 | 8.7 | ||||
Others | 122.6 | 116.4 | 12.8 | ||||
Third parties | 980.9 | 992.3 | 108.8 | ||||
Others | |||||||
| Third parties | 9.5 | 11.6 | 1.3 | |||
Inventories | 101.7 | 102.3 | 11.2 | ||||
Derivative assets | 3.6 | 25.3 | 2.8 | ||||
Advances | 31.6 | 30.0 | 3.3 | ||||
Prepaid taxes | 876.7 | 1,014.2 | 111.2 | ||||
Prepaid expenses | 247.5 | 255.8 | 28.0 | ||||
Other current assets | 51.9 | 47.8 | 5.2 | ||||
Total Current Assets | 6,722.7 | 5,629.6 | 617.4 | ||||
|
| ||||||
NON-CURRENT ASSETS | |||||||
Due from related parties – net of allowance | 31.1 | 24.0 | 2.6 | ||||
Deferred tax assets - net | 46.9 | 50.6 | 5.6 | ||||
Investment in associated companies – net of allowance | 0.5 | 0.3 | 0.0 | ||||
Other long-term investments – net of allowance | 2.7 | 8.5 | 0.9 | ||||
Property and equipment - net | 21,948.1 | 25,392.1 | 2,784.8 | ||||
Goodwill and other intangible assets - net | 2,918.8 | 2,554.2 | 280.1 | ||||
Long-term receivables | 122.0 | 104.7 | 11.5 | ||||
Long-term prepaid pension - net of current portion | 231.0 | 220.1 | 24.1 | ||||
Long-term advances | 353.5 | 679.1 | 74.5 | ||||
Others | 270.1 | 364.1 | 39.9 | ||||
Total Non-current Assets | 25,924.6 | 29,397.8 | 3,224.2 | ||||
| |||||||
TOTAL ASSETS | 32,647.3 | 35,027.4 | 3,841.6 | ||||
(1)
Translated into U.S. dollars using the average buying and selling rate published by Bank Indonesia (Central Bank) on March 31, 2007 of Rp9,118 to US$ 1 (in full amounts)
PT INDOSAT Tbk AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2006 AND 2007
(Expressed in Billions of Indonesia Rupiah and Millions of U.S. Dollars)
DESCRIPTION | 2006 | 2007 | |||||||
Rp | Rp | US$ (1) | |||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||
CURRENT LIABILITIES |
|
| |||||||
Accounts payable – trade |
|
| |||||||
Related parties | 27.1 | 48.8 | 5.4 | ||||||
Third parties | 182.0 | 290.5 | 31.9 | ||||||
Dividend Payable | 0.3 | 0.3 | 0.0 | ||||||
Procurement payable | 2,298.8 | 3,411.5 | 374.2 | ||||||
Taxes payable | 89.0 | 225.5 | 24.7 | ||||||
Accrued expenses | 778.8 | 975.4 | 107.0 | ||||||
Unearned income | 541.2 | 581.9 | 63.8 | ||||||
Deposits from customers | 26.5 | 106.6 | 11.7 | ||||||
Derivative liabilities | 159.6 | 164.4 | 18.0 | ||||||
Current maturities of: |
|
| |||||||
Loans payable | 54.2 | 116.6 | 12.8 | ||||||
Bonds payable | 981.9 | 1,055.5 | 115.8 | ||||||
Other current liabilities | 18.5 | 27.2 | 3.0 | ||||||
Total Current Liabilities | 5,158.0 | 7,004.4 | 768.2 | ||||||
|
| ||||||||
NON-CURRENT LIABILITIES |
| ||||||||
Due to related parties | 20.8 | 18.0 | 2.0 | ||||||
Deferred tax liabilities - net | 916.3 | 1,260.9 | 138.3 | ||||||
Loans payable - net of current maturities |
| ||||||||
Related parties | 631.6 | 637.1 | 69.9 | ||||||
Third parties | 668.9 | 868.7 | 95.3 | ||||||
Bonds payable - net of current maturities | 9,750.7 | 8,792.4 | 964.3 | ||||||
Other non-current liabilities | 533.6 | 550.4 | 60.4 | ||||||
Total Non-Current Liabilities | 12,521.9 | 12,127.4 | 1,330.0 | ||||||
|
| ||||||||
MINORITY INTEREST | 184.9 | 209.2 | 22.9 | ||||||
|
| ||||||||
STOCKHOLDERS’ EQUITY |
| ||||||||
Capital stock | 537.9 | 543.4 | 59.6 | ||||||
Premium on capital stock | 1,284.8 | 1,546.6 | 169.6 | ||||||
Difference in transactions of equity changes in |
|
| |||||||
associated companies / subsidiaries | 403.8 | 403.8 | 44.3 | ||||||
Stock options | 65.3 | - | - | ||||||
Difference in foreign currency translation | 0.1 | 1.0 | 0.1 | ||||||
Retained earnings |
| ||||||||
Appropriated | 49.9 | 66.2 | 7.3 | ||||||
Unappropriated | 12,056.7 | 12,641.6 | 1,386.4 | ||||||
Net income this period | 383.9 | 483.9 | 53.1 | ||||||
Total Retained earnings | 12,490.6 | 13,191.7 | 1,446.8 | ||||||
Total Stockholders’ Equity | 14,782.5 | 15,686.4 | 1,720.4 | ||||||
|
| ||||||||
| |||||||||
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY | 32,647.3 | 35,027.4 | 3,841.6 | ||||||
(1)
Translated into U.S. dollars using the average buying and selling rate published by Bank Indonesia (Central Bank) on March 31, 2007 of Rp9,118 to US$ 1 (in full amounts)
PT INDOSAT Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2006 AND 2007
(Expressed in Billions of Indonesia Rupiah and Millions of U.S. Dollars, except share data)
DESCRIPTION | Years | |||||
Ended March 31, | ||||||
2006 | 2007 | Growth(2) | ||||
Rp | Rp | US $(1) | ||||
OPERATING REVENUES | ||||||
Cellular | 2,171.9 | 2,899.0 | 317.9 | 33.5% | ||
Multimedia, Data Communication, Internet (“MIDI”) | 455.7 | 493.5 | 54.1 | 8.3% | ||
Fixed telecommunication | 272.0 | 382.3 | 41.9 | 40.5% | ||
TOTAL OPERATING REVENUES | 2,899.6 | 3,774.8 | 414.0 | 30.2 % | ||
OPERATING EXPENSES | ||||||
Depreciation and amortization | 836.5 | 977.0 | 107.1 | 16.8 % | ||
Personnel | 286.9 | 355.8 | 39.0 | 24.0 % | ||
Administration and general | 154.2 | 171.1 | 18.8 | 11.3 % | ||
Maintenance | 128.8 | 187.0 | 20.5 | 45.2 % | ||
Compensation to telecommunications carriers and service providers | 85.6 | 405.2 | 44.4 | 373.4 % | ||
Marketing | 80.4 | 141.4 | 15.5 | 76.0 % | ||
Leased circuits | 40.2 | 52.7 | 5.8 | 31.0 % | ||
Other costs of services | 438.5 | 442.2 | 48.5 | 0.8 % | ||
TOTAL OPERATING EXPENSES | 2,051.2 | 2,733.0 | 299.7 | 33.2 % | ||
OPERATING INCOME | 848.4 | 1,041.8 | 114.3 | 22.8 % | ||
OTHER INCOME (EXPENSES) | ||||||
Gain (loss) on foreign exchange - net | 264.5 | (48.5) | (5.3) | -118.4 % | ||
Interest income | 66.8 | 35.2 | 3.9 | -47.3 % | ||
Financing cost | (328.4) | ( 303.5) | ( 33.3) | -7.6 % | ||
Gain (loss) on change in fair value of derivatives - net | (222.4) | 68.6 | 7.5 | 130.9 % | ||
Amortization of goodwill | (56.6) | ( 56.6) | ( 6.2) | 0.0 % | ||
Others - net | (14.7) | (24.6) | (2.7) | 67.0 % | ||
TOTAL OTHER INCOME (EXPENSES) | (290.9) | ( 329.4) | ( 36.1) | 13.2 % | ||
EQUITY IN NET INCOME OF ASSOCIATED COMPANIES | 0.0 | 0.0 | 0.0 | 0.0 % | ||
INCOME BEFORE INCOME TAX | 557.6 | 712.4 | 78.1 | 27.8 % | ||
INCOME TAX EXPENSE | ||||||
Current | 116.4 | 207.9 | 22.8 | 78.6 % | ||
Deferred | 48.0 | 12.0 | 1.3 | -74.9 % | ||
TOTAL INCOME TAX EXPENSE | 164.4 | 220.0 | 24.1 | 33.8 % | ||
INCOME BEFORE MINORITY INTERESTIN NET INCOME OF SUBSIDIARIES | 393.2 | 492.4 | 54.0 | 25.2 % | ||
MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES | (9.2) | ( 8.5) | ( 0.9) | -7.7 % | ||
NET INCOME | 383.9 | 483.9 | 53.1 | 26.0 % | ||
BASIC EARNINGS PER SHARE | 71.46 | 89.05 | 0.01 | 24.6 % | ||
DILUTED EARNINGS PER SHARE | 70.67 | 88.63 | 0.01 | 25.4 % | ||
BASIC EARNINGS PER ADS (50 B shares per ADS) | 3,572.97 | 4,452.43 | 0.49 | 24.6 % | ||
DILUTED EARNINGS PER ADS | 3,533.51 | 4,431.67 | 0.49 | 25.4 % | ||
(1)
Translated into U.S. dollars using the average buying and selling rate published by Bank Indonesia (Central Bank) on March 31, 2007 of Rp9,118 to US$ 1 (in full amounts)
(2)
Percentage changes may vary due to rounding.
PT Indosat Tbk and Subsidiaries
Key Operational Data
YTD For The Year Ended 31 March 2006 and 2007
DESCRIPTION | Unit | YTD | YTD | Growth |
Ended | Ended | |||
31 March 2006 | 31 March 2007 | |||
1 | 2 | 3=(2-1)/1 | ||
CELLULAR | ||||
Prepaid | subs | (1,572,461) | 1,293,334 | 182.2 % |
Postpaid | subs | 16,188 | 22,843 | 41.1 % |
Total Net Additions | subs | (1,556,273) | 1,316,177 | 184.6 % |
|
|
| ||
Prepaid | subs | 12,,263,585 | 17,172,114 | 40.0 % |
Postpaid | subs | 692,595 | 848,702 | 22.5 % |
Total Cellular Subscribers | subs | 12,956,180 | 18,020,816 | 39.1 % |
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ARPU Postpaid | Rp | 217,469 | 194,006 | -10.8 % |
ARPU Prepaid | Rp | 50,448 | 48,501 | -3.9 % |
ARPU Blended | Rp | 58,836 | 55,507 | -5.7 % |
MIDI | ||||
Indosat : (Accumulated Numbers) |
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Wholesale |
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| |
International High Speed Leased Circuit | cct/64k | 5,486 | 15,368 | 180.1 % |
Domestic High Speed Leased Circuit | cct/64k | 33,843 | 50,279 | 48.6 % |
Satellite Transponder Leased (external usage) | #transp | 12.5 | 13.7 | 9.3 % |
Datacom |
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International High Speed Leased Circuit | cct/64k | 736 | 973 | 32.2 % |
Domestic High Speed Leased Circuit | cct/64k | 6,101 | 8,200 | 34.4 % |
Frame relay | port | 986 | 883 | -10.4 % |
IPVPN | cct/64k | 3,201 | 6,504 | 103.2 % |
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Lintasarta : (Accumulated Numbers) |
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High Speed Leased Line (SDL) | link | 1,287 | 1,094 | -15.0% |
Frame Relay | access | 4,219 | 4,516 | 7.0% |
VSAT | terminal | 1,735 | 1,672 | -3.6% |
IPVPN | link | 2,151 | 3,496 | 62.5% |
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IM2 |
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Internet Dial Up | user | 28,766 | 26,029 | -9.5% |
Internet Dedicated | link | 964 | 1,183 | 22.7% |
IPVPN | link | 171 | 274 | 60.2% |
IDD | ||||
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Outgoing Traffic | 000 min | 36,345,443 | 54,435,342 | 49.8% |
Incoming Traffic | 000 min | 235,258,872 | 287,207,948 | 22.1% |
Total Traffic | 000 min | 271,604,315 | 341,643,290 | 25.8% |
I/C Ratio | - | 6.5 | 5.3 | -18.5% |
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Fixed Wireless | ||||
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Prepaid | subs | 217,992 | 410,166 | 88.2% |
Postpaid | subs | 20,696 | 24.051 | 16.2% |
Total Subscribers | subs | 238,688 | 434,217 | 81.9% |
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EMPLOYEES | ||||
Indosat and its subsidiaries | person | 8,052 | 7,786 | -3.3 % |
(Including non permanent employees) | ||||
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