IOH reports solid Q2 results
Indonesia-based telco Indosat Ooredoo Hutchison (IOH) reports healthy financials in Q2 2022, including revenues up 7.2% QoQ, EBITDA up 9.5% QoQ, and EBIDTA margin reaching 41.2% in the second quarter.
On the operational side, it reports increases in subscribers, ARPU and data traffic. The recently merged operator is now Indonasia’s second largest operator by mobile market share with 96.2 million subscribers.
“We are excited to report that all of IOH’s financial and commercial indicators are showing solid positive momentum in the second quarter of 2022.” said Vikram Sinha, IOH CEO. “This performance is the result of continued support from our customers and all IOH stakeholders. We are committed to continuing this growth momentum to enhance our customers’ digital lifestyles, that aligns with IOH’s mission to deliver world-class digital experiences, connecting and empowering Indonesians.”
Not much is shared regarding its guidance, nor more importantly regarding its coverage obligations on the back of the merger. The consolidation came with several agreements, including more than 11,400 new mobile sites, coverage of 7,660 new villages and sub-districts as well as improvement of the download throughput by at least 12.5% and minimum upload speed improvement by 8% by 2025. Instead, the public communication closes with the operator’s continued focus to improve cost efficiencies and finalising the integration process of the merged companies.
“IOH’s management will continue to focus on aligning and transforming the organization, increasing cost efficiencies, and accelerating the integration process. IOH brings this effort to ensure a marvelous experience for the customers. Furthermore, we want to create more value for our customers and shareholders and accelerate Indonesia’s digital transformation.”
A fair amount of canned statements are expected from financial announcements, especially when results are solid but with a recently signed deal with Finnish kit vendor Nokia, we expect to hear more on the network improvement and expansion plans from the new kid on the block soon.
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