TLKM.JK - Earnings call transcript Q3 2022 | Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

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Operator

Good day, and thank you for standing by. Welcome to Telkom Earnings Call 9 Months of 2022. [Operator Instructions] Please be advised that today’s conference is being recorded. And now I’d like to hand the conference over to Mr. Ahmad Reza, SVP of Corporate Communications and Investor Relations. you. Thank sir. ahead, go Please

Ahmad Reza

Okay.

from Thank you, to X and Welcome an afternoon, of after by the session. Amber. Telkom Indonesia Good overview be PT will the results. ladies CEO, conference followed XXXX Q&A gentlemen. There Okay. our call months for

we me differ cause safe may of may that what us estimation harbor. that results could remind Before from today's response of results projections to the Ladies uncertainties gentlemen, from and risks are pleasure and meaning today. Board actual and be start, different introduce we and within may joining involve questions the let Directors materially who or to contain Telkom today. you call forward-looking discuss statements now Actual it's my to

Ririek Bogi and Network First and as as Fajrin Director; Mr. Adriansyah, Heri Supriadi, Management Director Mr. Business Director; Mr. and as International Rasyid Herlan as Director; Wijanarko, Budi as Muhamad as Director; Mr. Witjaksono, President, Finance Digital Solutions the Setyawan CEO; Derrick Human Risk Director. now as Finance welcome Telkomsel, CEO, Wijaya Director; our hand for overview. Mr. Risk Ririek. also the Strategic Wholesale Portfolio Service Adriansyah, IT as is and his Director; and Mohamad Management of Marketing Please Director Pak Afriwandi Mr. of present the Mr. Director; Management to call and Heng Ramzy and as Mr. Mr. Board Capital over I Mr. Ririek

Ririek Adriansyah

both situation in competitive of pandemic Telkom altering with FMC Ladies BXC breakthrough and fit innovation months the Welcome IT, to budget. in call. BXB foster your model the XXXX challenging to telco, for anticipate appreciate Telkomsel. timeline the our of by market on performance create Thank in macroeconomic results. anticipated participation company’s Good advantage diminishing that competition best will you, conference call and and Telkom Reza. telco of and operational to after financial To for return business easing X ladies overall line select to and BXC is afternoon, COVID-XX gentlemen. this keep keeps the aspect gentlemen, the We Increasing digital, business.

exploring as Singtel cloud We world-class in and providers. Microsoft well as seriously collaboration cloud data and with with business are center

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with relatively IDR highest time, With XX.X%. IDR X.X% our million intake business subscribers revenue successfully EBITDA net at revenue same growth our better right a at Our Telkom’s stable achievement, Competitive IndiHome’s the the strategy consolidated needs and income with profile. of become competition. At Telkomsel’s and resulted year-on-year mobile maintained needs in and of effort to advantage Telkomsel’s on X.X% value focus ARPU proven XX.X XXX,XXX. identify by customer IndiHome XXX,XXX the stayed Telkomsel margin revenue has and to among customers added margin is of in productive segment, be to its broadband XX.X% personalization this rates growth contributed X customers’ healthy trillion still the blended maintaining to fixed with customer strategy. to

In in by business. to with were slightly XXXX. segment of data months the terms wholesale center contributors major to due Enterprise enterprise and of digital business to X.X% growth Segment, year-on-year transfer enterprise revenue, connectivity trillion and X declined in the of services contributed Enterprise IT IDR XX.X international

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the model our with InfraCo its implemented process In particularly product, value X finding tower to cellular data Telkom and to become biggest upcoming features, and strategy by We to initiatives, system. site subscribers in FMC Mitratel, a towers some as can product demand our tower strategy strategy. that are business, mobile and of diversification to also wireless a The follows. business creation, the business we of in value One buy Telkomsel XX,XXX quota DC now advisers. in the grow, Bold portfolio as of increasing opportunity as the more and maximum company. allows infrastructure view under features opportunities integrating driven parts FMC, ex-Java. Telkomsel technology fiber in to progress, in ratio towers our to of the it and effect assisted billing strengthen of material our fixed and X.XX We best its around has such IndiHome To continued digital XX% that are reputable this the by enjoys maximize that in our as have part the internet the Currently, to Moves implementation. show were located of the the Indonesia. intensify towerco capability XG network. tower is is than Co, expanding segment business, single bring with manages business tenancy Mitratel Smooa already and fixed Smooa Orbit, to

Center are in the Data and Edge and of our have both include also Data and data overseas. that Our Center, which as one Currently, HyperScale Cloud XX which we more areas Center facilities, Indonesia focus. become the remained Data than center both located

process Ekosistem the as in business center stages restructuring in that businesses brand. We PT we process entity The be the by process of consolidation assets NeutraDC in the and one data completed under XXXX. with and our Telkom is expect the are executed that’s called consolidating will Data

Our such dedicated to business advantage cross data our and shared are colocation, services, working several computing, such products our integrated hand, are data network so solutions. Telkom accommodate center of blockchain competitive edge and business to XG and and as we network colocation, DC other room, solutions, also submarine future The that global cable as smart customers’ needs, digital connect, provides including interconnect. digital able centers

unlock, value We are also tower. from pursuing infrastructure starting

fiber optimizing infra and new InfraCo improvement, business will and quality explore potentials consolidated model CapEx efficiency, keep This that of in to BXC continue our growth optic initiative expand and will coverage Telkom’s at the BXB connection, harmony. aims sharing We our service.

as meets achieve of expect very to optimize We create investor initiatives in Telkom we strategic expectation. value initiatives InfraCo, and ending that and having thank much. differentiation. above, as to utility valuation telco infrastructure asset can IT remarks, to That‘s business carving three the Beside By also the BXB you we and Services out DigiCo. maximize these well assets my cater challenge, can Telco believe our penetration business market Digital continue our

Ahmad Reza

Ririek. Pak you, Thank

Operator, the your When first begin your may question please state have please? Q&A clearly the now speak your raising we questions, name and session. will company. We and

Operator

from comes Choudhary. question first Our the line Instructions] of Piyush [Operator

Piyush Choudhary

questions. A Piyush from Yes. HSBC. This is few

And the Firstly, October? understand constantly the decline. have in on almost quarter, mobile, decline. has trends why subscriber from stabilized X.X peers driving question. help In Indosat? first decline could you we That's of month subs the divergent us is subs And seen like third million what the are

InfraCo, operators paid as intent would would that may injected? And question. apart profit? dividend, InfraCo? assets can from Telkomsel dividends elaborate net on well? we to if you Would could other I is the lease be X confirm normalized what you Secondly, to such strategic from ask be What last form On assets

Ririek Adriansyah

I'll first consolidation. answer the on in of question effort mobile for the from regards declining right. us Q-on-Q, really terms to Telkomsel. base With an it's subscriber All

We and by the healthy to to our focus and more right is initiatives push customers. to We need have and And the pricing customers a conduct maintain productivity number consolidation. on healthy product secure approach state CVM our objective quality of main to through providing customers. drive to renewal consistently

this That's a ARPU. push have customers. quality perspective, to X.X%. ARPU an our better Q-on-Q of really from So add, of that to is resulted lift Maybe improvement our to a

So to clearly, strategy have it validated our better customers.

Piyush Choudhary

here -- And can a of talk also? So some about consolidation little may I process of And change will terms is stability you drive this in likely the if clarify, ARPU subscriber the outlook in numbers? for subscriber over like continue bit to what the a time?

Ririek Adriansyah

address to up drive we customers. we are value consolidate of will trying to we sure of really really No, that And seekers. will continue the quality the proportion what make and is

of continue our we number the to the consolidation terms so in And months will in efforts come.

Ahmad Reza

question. Second

Budi Setyawan Wijaya

the setup. terms second in Piyush, of several set are this is question Budi Setyawan InfraCo InfraCo. Actually, why intentions up we there for

time first investment year. regulation since it's the because new The also infra last and on the already established sharing,

we create that a want it look for industry operator the we on miss the also be value then And investment. Then for And is our to can then third we that efficiency can leverage by supports industry, It The already can also. get momentum regulation investment financial from on is very So sharing. because there leveraged also more our infra to the when the shared necessary current infrastructures we for the second. actually. are talk there and this don't is monetizing infra also about our Indonesian if infrastructure, many sharing then from better And actually the the infrastructure. result the infrastructure. potential more

us infrastructure. very Telkom benefit to it that's investment. very investment maximum And in infrastructure also our this our is advantage So competitive important one us already get is for to it optimize is to of leader currently the on lead happening. the for from the important

to competitive up it's us the InfraCo. setting lead for So advantage better by this

Heri Supriadi

here. Piyush, Heri speaking

question the on dividend. On

this happened to the the we interests and of On is will that think, are to going also the propose actually comparable gain we industry. the dividend course, consider shareholders, which to dividend yield. get, the Of are I dividend, in capital

are normalized we considering from So profit. the that

Piyush Choudhary

Heri the for clarification. Thanks, Pak

Operator

Our next comes Pineda. the question from of Arthur line

Arthur Pineda

Several questions.

this pause Can quarter, increases. digits look Is actually low have given stage the to, this there's been is I what into regard this it's the seems with this fairly on think about lot housekeeping. you momentum, outlook impairment, operators do at wanted Or to the is talk quarter? you is of had price mid-single around Or just is on your question economy? a broadband. you contrary I expecting. weaker outside any If the penetration Are going quarter? conservatism from evolve the to of basis, the rollouts. I regard First, mobile. efforts this terms low into fourth been on to continue items considering seems market. It to Second been in a level competitors? in with slowing in to this had question growth this there owing booked mobile a competition the in was of think, like seeing Last to year-on-year which I increased one-off check, were just we GoTo which your

Derrick Heng

is mobile see in direction. mobile. This if leading Okay. I'll Derrick the at to look question With handle on market first been we healthier we last have you Telkomsel. pricing few regards really months, trend, the from the what

right also by our that stop the unlimited competitors. repair has the initiatives. package have market pricing the implemented And and We to market encouraged

it look at quo. if this, is the So pricing adjustment, current in status you space, mobile the

the on in for of course, pricing. of are, optimal We search terms level

to potential We as opportunistic competitiveness aggressive macro are as initiatives. the pricing and maintain of well the conditions mindful through

Ririek Adriansyah

We think, Thank you, yes, say question, as you, continue I decreasing aware, your can Arthur, growth competition the on will I in Pak the with of think, you intense more to be may today. IndiHome Pak Derrick. becoming, the really our the most do the competitors I what we we And with believe or fixed I then to offer compared same think healthy. this offer. is But offering broadband. come of lower, not do

run short So as keep not still of strategy the our long for in well. such trend, in to following to performance our healthy are our awareness and business and run we the sustainability

a choosing by subscriber potential of for, So good think, we more, X quality think, selective them of subscription are and with in I on. year so the us customer. This becoming I asking answer

then the of So see the And the you much becoming the very with revenue still to I customer. and people. of can good, also better line in growth think, compared churn collection growth also the,

to going in this pursuing efficiency see We providing give of So current This it with is us competitive answer with the good, growth broadband. more well. believe I in this quality to quality going strategy way subscriber solutions think, as the in our future, softening think, I for fixed of good convergence, we to as us this are another, of mobile is is situation. more be to and also

at believe still very I penetration know think, big think, broadband about the there is, still I the potential We still we home So is the get, we sustainability. we're share market business XX% terms we least of for I household. of can that the believe of to same affect. only market of think, as in now, do profitability percentage it, going the to solution more quality and efficient I think, But

what can that So is we today. explain

really before also in basically investment transaction, right one think, On technology on I technology back of based past. the accelerated competitive which solution provide, explained we all transaction, the copper one-off of broadband. not have we here, depreciation the I This to for to we that's think investment is I as that think XXXX, had now the Amazon, of

with do year, the the IDR year. of did last trillion, similar depreciation this the we in what X.XXX amount actually amount we we in But accelerated So second year. did almost this quarter

as based has technology the year, already So depreciated. been up but now compared to impact last the I all to think Amazon accelerated right

we one think of the now. of transactions have I only as that So that's

Arthur Pineda

So nothing case? XQ. Is in else that the

Heri Supriadi

but no, in more had in the year. quarter. to No, last no, we to last comparison fourth But year,

year. no additional in this there’s So

Operator

Our question Chen the Choong next from line of Foong. comes

Choong Chen Foong

this me. questions afternoon. so conference call. Good Thank much you Three for from

on mobile business. Firstly, the

do that any And the you ways you mobile weakness post potential to included that personnel further one. cost to third pricing in to upward the to That's you here there's risk recently think you in inflation levels to all initiatives salaries acceleration Or do also, power lead the question regards ask us in raise my due to months? that to terms that any be into -- wanted Indonesia? of some may if Yes, And here, clarify reach purchasing is are still Just line see do Number time the with there list assets in whether there what of as the next pricing this? few line inflation think pressure some InfraCo, questions. the some costs, subscriber and number of that those upward pressure any two, in Indonesia? value in -- you are the any any the InfraCo? there pressures be in these may for my to of InfraCo? wanted sort And have a the -- plans you lines, with so, give then just would sense can X other of what well? And new about question, do optimum

Derrick Heng

Derrick for is the your question optimal on answer I'll from mobile. Telkomsel. pricing This

needs, on continue consistently as for will customers' industry as state capacity. we and the healthier profitability. the sustainable lead the ground, and Telkomsel network look will ideal pay, So to conduct, to at competition to We the ability willingness drive well

as grown the Q-on-Q. a as well on strategies based are ARPU there that is So RPMB place been have and validated few the that in has

initiatives. and ring-fenced through customer segments CVM have stimulated our high-value We

in rationalized to terms We a to Then wide provided traffic of productivity. requirements. we customers regards their monetization the improve with for also have portfolio also

we play of So terms that terms is value or a is positioning. whether offer can [indiscernible] in of packages, it in the for what

to which overall So revenue see to below look GDP the is of looking in telco than we at supported the better at industry, as X% in conditions. contribution X%, economic we of scheme are opportunity versus grab we the cellular the still is by course, XXXX, things, more

but experiences we the to at to our for through continue right will deliver best approach awesome look pricing, So optimal customers.

Heri Supriadi

There think, There's impact well. of base employees the to quite try to of total based the an of is the rate related is salary small going a I personnel salary. inflation I'll it calculated limited going be answer I the part think, but be as based the, salary, part to some but base impact, the salary is the, on that's the on our percentage think, costs. Derrick. you of inflation, you, I Thank to on

higher in front. marketing be that to this I the There last slightly previously costs. on carried year out. because let's for spike the COVID is personnel then So that's And think to I I that's the, relaxation be with up done not think, cannot compared this quite explanation activities the now say, actually can year, think, marketing, any, of increased be, situation, going

I for So this But budget makes marketing can slightly manage. our, tripling on the within increased. marketing whole, costs increase, administrative as to, for the as so as this that example, growth long a and related within increase think general and we

ratio think, see income think from still I operating I very you and and overall, on, or can so So EBITDA of margin our the manageable. much,

So some these of costs. about we explain what can that's

Budi Setyawan Wijaya

Okay. Thank you.

and For the strategy better terms mentioned investment. the attractive should multiple timeline? is and it And we I optimize actually, from under discussion. and of second, will to initiative also it second still it like the the Because to third What Then just asset affect then also it's telco. in itself unlock is InfraCo is the our of And before, is asset, than will also for time actually unlock Today, balanced. [indiscernible] be InfraCo. about [indiscernible] And how to the to intent other be business, because sustained one the should InfraCo the EBITDA growth the Yes, that's InfraCo the are third be investors. right the then also potential this line. of the why regulation. potential the

though are So but totally. only for for not scenarios to the not attract there currently, on the Even the also PE IPO, we plan. the exit, actually, several IPO, are

investors. strategic So the start with I and we the think, first, also will investors private

Choong Chen Foong

assets track year? is plan data to on still for center next the And Understood. the list

Budi Setyawan Wijaya

development. consolidation, on of in terms track the new in the center, Data are also Yes. still we

also in Thank the also we and new terms in good consolidation the progress So you. of have development.

Operator

Our of next from the question Hussaini comes Saifee. line

Hussaini Saifee

This Saifee is Hussaini from UBS.

my a Most have questions questions. few been Just of answered.

Just a questions. few

how maybe Smooa side, Are both base, Smooa the need of billing? base IndiHome Orbit or First get That's question the Telkomsel your or is, the on are we And bundling the take of subscribers, to who customers number the are the second booked mobile marketing be in will they wanted the many just services? revenues, Orbit I on need convergence one. fixed to level, broader to is the some product, will convergence, a And that revenues IndiHome the booked? up have -- finally, level can those to understand at Telkomsel, combined how at will level? it as kind mobile they offered fixed discounts which on

Afriwandi

This is Afriwandi.

On the And Telkomsel. Orbit in on revenue revenue book is revenue currently, book, there's Orbit in the no the booked side. Telkom other all

on that's So the side. Orbit

bundling FMC, but the and both the also more giving to -- the to more the value discount discounts broadband. on broadband not on actually the to the mobile is plan combine customer, creation On users fixed on actual

intention create the So of is the but our the to more to more giving additional customers. not discount on customer, FMC values to offer

Okay.

Smooa, the but Thank Hussaini. numbers, don't have you. will to we numbers back currently you, the we get the On on

Hussaini Saifee

if such can also to network. give But side ask kind those maybe their and to Then advantage if understand follow-up just I fiber, your competitors expand I one use as Sure. assets maybe I that. of InfraCo your positive on open mean, of the assets that you the initiatives. can

right side, the -- Or open you as see even as infrastructure this of infrastructure the see is it that is this well as business and, time fiber do or commoditized do risk? of a that to side side the therefore, the So well? highly the you

Ririek Adriansyah

only. get you one serve this was supposed also when separating of with we because one, valuation fiber I Thank see multiple to the multiple this you. the the course, of integrated they objectives the FiberCo That But think, reason On higher, see operator on market. is one. FiberCo the different is of

by this regard, of my before So the address to we’re going with course, as market explained colleague.

then, fiber in wholesale the already increase we our to I fast, side to But advanced risk regulation our for much, that we to mostly in very think, to have, our, And kind compared time, a have this And there’s think, of too provide also, one. the I going capacity way the going of I do to risk open this us think, us massive of competitors whenever allows I one. on of that’s that’s some our think, course, things business. consumer same all revenues. also we

get we to of, to balance course, businesses maximum one. on valuation need both think, I this Of the

get the be as think, So That’s, aspects very selective to of the you. all share to consider to we’re initial well one value. going this thing with the on can in we that kind maximum order I

Operator

from Pineda. follow-up question [Operator line of question Instructions] the therapy Next a is Arthur

Arthur Pineda

follow-up, about you one your in just between regard do can product majority of this please. fixed, nature. tie how users them Sorry, What With go are in that you actually bundling to and together? considering can to mobile mobile prepaid

Heri Supriadi

quite you. Maybe that's Derrick on chunk revenue the have think, loyal them. I think to of quite a customer high-value have basically we a is Pak biggest us. so-called Okay. Thank I one, you answering customer, that high-value before of user, provides There, profile we complete, we which us, call to

them, we convergence, fixed them becoming technology them. address them With, mobile can loyal think, know how a seamless provide we more get to I to us. with So solution to

fairly think, company in convergence a combined we to one long-term see, as mobile services. increase, also In I think can cellular hand. the and fixed run can but I potential So for we also well as think, we from, I pretend same solution value time, coming as be of provide the

of provide potential some saving. can course So also this

both So this maximum we one. value address to the get sides from

Arthur, I on think have think, explanation can this. I more, Derrick for some

Derrick Heng

position. This believe the continue. Harry's one and We strengthening is perspective. I'll just to the Derrick for are add FMC truly and benefits room synergy of our really I'll

want an approach customers, to really on at home loyalty both high-value and serving and our integrated we to move. them from drive Just the

turn, mobile would value the share to value the from us, will a due really and fixed we the we broadband to more segment capturing churn ability that, the And the Telkomsel then, in IndiHome is perspective. to the So from base again, mobile the Then for drive want to reduce be really to from cross-sell cross-sell to to the an And total stickiness. of increase of base. customer able capture a household segment, household.

So all both the move. on all, win-win owning home the see in at a for we this customer and

Arthur Pineda

Sorry.

be you do as high-value user well? bundling? postpaid this to can that mainly into the expect cross-sold Or So the is the user prepaid it on

Ririek Adriansyah

Yes. Even segment, prepaid for customers. the high-value also at are we a looking of group

So to needs aligned broadband are profile. clearly, their the very customer fixed

Operator

the Our next Piyush follow-up comes question of from line Choudhary.

Piyush Choudhary

Just X follow-ups.

FMC. EBITDA have And tell on Firstly, secondly, quantify of right on business, the now? worked out once kind the you center revenue the the the come if is capital could can what us what you And you profile Could for in data the with cost Telkomsel? business which synergies, center what's IndiHome or you portfolio? data profit integrate invested is

Heri Supriadi

the we which activities the each identified of go-to-market several that actually segments come cost synergy go So currently synergies side, Telkomsel cost in and on from from Telkom.

in can part other resellers how as we well as optimize sales the campaign Telkomsel. as Telkomsel is as of agency our also in force well marketing the The the

point, identified benefit several that on group. to can also actually, synergy So we the scenarios that

and other The CapEx is duplication Telkomsel. reduction amongst the and also part Telkom potential on

Piyush Choudhary

quantify this? a and of revenue amount mobile IndiHome? Can the you the what Like as or enlarged of percentage is

Ririek Adriansyah

Okay.

add from the these of But CapEx on the used the calculate So numbers, process FMC side. and the itself. value as can this our and also currently, course, of the of basis identification more we're be both the also and in on clearly numbers transaction OpEx

Heri Supriadi

and the question for the business. capital, revenue, profit data center the on on Piyush, invested EBITDA

Currently, XX% is data see to center is be, the X is is what center think we I and what Southeast business similar think USD million, capacity market. XX% we the megawatt to utilization. supposed we EBITDA the I EBITDA, that investment in whenever the the of benchmark think, be see supposed in I to reach optimum, think, around data of I needed XX for around to Asia,

be it's in us. for profitable accordingly, the line bottom think going I So to also

in So we are data using yet. not capacity for center all HyperScale, the example, our

But the to to utilize benchmark. what supposed course, think, think, those, be I benchmark full, we if is lower. supposed be ever Of capacity, capacity globally, the whenever have I didn't compare we to already is comparable in it it the in to

data what So believe we in that's, I the think, center.

be promising. the This We also businesses the market. see potential coming from their very coming on, can and digital so government from, I think, the of company, are some HyperScale,

that So upcoming look a to is can give like center the data business we of a you, how think, in figure supposed years.

Piyush Choudhary

quantify is to what the data possible it is contribution current of business? revenue your center to Like,

Heri Supriadi

Current data IDR X.X revenue around contribution right months. our as now of of X center trillion

Operator

[Operator Instructions]

Ahmad Reza

Thank you, today’s everyone, We apologize Amber. whose for yet. you, addressed in those call. for could be Thank not questions participating

So questions, you please directly. much. if very Thank further you any have ask

Operator

for conference concludes Thank today's This call. sir. you, you Thank participating.

now disconnect. You may

Ahmad Reza	SVP of Corporate Communications and Investor Relations
Ririek Adriansyah	President, Director and CEO
Heri Supriadi	Finance and Risk Management Director
Herlan Wijanarko	Network and IT Solutions Director
Bogi Witjaksono	Wholesale and International Service Director
Budi Setyawan Wijaya	Strategic Portfolio Director
Muhamad Fajrin Rasyid	Digital Business Director
Afriwandi	Human Capital Management Director
Mohamad Ramzy	Finance and Risk Management Director
Derrick Heng	Marketing Director
Piyush Choudhary	HSBC
Arthur Pineda	Citigroup
Choong Chen Foong	CIMB Research
Hussaini Saifee	UBS

Perusahaan Perseroan (TLK) 1 Nov 222022 Q3 Earnings call transcript