Telkom Indonesia(TLK)

Search documents
Telekomunikasi Indonesia: Favorable Takeaways From Investor Events
Seeking Alpha· 2025-09-11 17:24
Asia Value & Moat Stocks is a research service for value investors seeking Asia-listed stocks with a huge gap between price and intrinsic value, leaning towards deep value balance sheet bargains (i.e. buying assets at a discount e.g. net cash stocks, net-nets, low P/B stocks, sum-of-the-parts discounts) and wide moat stocks (i.e. buying earnings power at a discount in great companies like "Magic Formula" stocks, high-quality businesses, hidden champions and wide moat compounders). Sign up here to get starte ...
Telkom Indonesia(TLK) - 2025 Q2 - Quarterly Report
2025-08-01 15:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13 a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of July 2025 Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (Exact name of Registrant as specified in its charter) Telecommunications Indonesia (A state-owned public limited liability Company) (Translation of registrant's name into English) Jl. Japati No. 1 Bandung 40133, Indonesia (Address ...
Should Value Investors Buy PT Telekomunikasi Indonesia (TLK) Stock?
ZACKS· 2025-06-25 14:41
Core Viewpoint - The article emphasizes the importance of value investing and highlights PT Telekomunikasi Indonesia (TLK) as a strong candidate for value investors due to its attractive valuation metrics and earnings outlook [2][6]. Company Summary - PT Telekomunikasi Indonesia (TLK) has a Zacks Rank of 2 (Buy) and an "A" grade in the Value category, indicating it is one of the strongest value stocks currently available [4][6]. - TLK is trading with a P/E ratio of 10.54, significantly lower than the industry average P/E of 20.75, suggesting it may be undervalued [4]. - Over the past year, TLK's Forward P/E has fluctuated between a high of 11.95 and a low of 7.98, with a median of 9.97 [4]. - The stock has a P/B ratio of 1.54, which is attractive compared to the industry's average P/B of 2.39, indicating a favorable valuation [5]. - TLK's P/B has ranged from a high of 2.34 to a low of 1.28 over the past year, with a median of 1.74 [5]. - The combination of these metrics suggests that TLK is likely undervalued and stands out as a strong value investment opportunity [6].
Telekomunikasi Indonesia Is Likely To Bounce Back
Seeking Alpha· 2025-06-23 18:07
Core Insights - Michael Dion is an FP&A leader with diverse finance experience across various industries including Telecom, Media and Entertainment, Hospitality, and Construction [1] - He founded Mike's F9 Finance, a platform aimed at helping finance professionals enhance their careers [1] - Dion's investment strategy focuses on identifying value opportunities where market reactions to news are disproportionate, emphasizing strong fundamentals and a preference for dividend-paying stocks [1] - The importance of cash flow is highlighted as critical for both companies and investors at all levels [1]
PT Telkom Indonesia (Persero) Tbk 2024 Annual Report on Form 20-F
Prnewswire· 2025-04-28 16:52
Group 1 - Telkom Indonesia has filed its annual report on Form 20-F for the year 2024 with the U.S. Securities and Exchange Commission as required by the New York Stock Exchange Listed Company Manual [1] - The 20-F report is accessible on Telkom Indonesia's official website and the SEC website [1] - Holders of Telkom Indonesia's securities can request a hard copy of the 20-F report, including audited financial statements, free of charge [2]
Telkom Indonesia(TLK) - 2024 Q4 - Annual Report
2025-04-28 16:35
Company Overview - PT Telkom Indonesia is the largest information and communications technology enterprise in Indonesia, focusing on digital connectivity, digital platforms, and digital services[9]. - The company serves five customer segments: mobile, consumer, enterprise, wholesale and international business, and other segments[9]. - The company's shares are traded on both the Indonesia Stock Exchange (IDX) and the New York Stock Exchange (NYSE) under the tickers TLKM and TLK, respectively[9]. Financial Reporting - PT Telkom Indonesia (Persero) Tbk filed its 2024 Annual Report on Form 20-F with the US SEC on April 28, 2025[7]. - The 2024 Audited Financial Statement is available for viewing on the company's website[7]. - Investors can request a hard copy of the 20-F Report via email or phone[8]. - The report is part of PT Telkom Indonesia's compliance with the NYSE Listed Company Manual[7]. Business Strategy - PT Telkom Indonesia aims to enhance its market position through continuous innovation in digital services[9]. - The company emphasizes its legacy services, including voice and SMS services, alongside its digital offerings[9]. Investor Relations - The company is committed to transparency and investor relations, as indicated by the filing of its annual report[6].
Telkom Indonesia(TLK) - 2024 Q4 - Annual Report
2025-04-28 16:24
Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $5.2 billion in the last quarter[5] - The company reported a revenue increase of 15% year-over-year, reaching $1.5 billion in Q3 2023[1] - The company projects a revenue growth of 10% for Q4 2023, expecting to reach $1.65 billion[3] - The company has set a performance guidance of 12% revenue growth for the next fiscal year[5] - The company reported a net profit margin of 18%, reflecting improved operational efficiency[5] User Engagement and Growth - Average Revenue per User (ARPU) improved by 8% to $12.50, indicating stronger customer engagement[22] - User data indicates a 25% increase in active subscribers, reaching a total of 15 million[5] - User base expanded by 20%, totaling 10 million active users as of the end of Q3 2023[2] - Implementation of a new customer engagement strategy is projected to improve customer retention rates by 15%[8] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in user base by the end of the fiscal year[5] - Market expansion efforts in Southeast Asia are expected to drive a 30% increase in user acquisition[6] - A strategic acquisition of a local competitor is anticipated to close by Q3 2024, expected to increase market share by 10%[5] - The company completed a strategic acquisition of a local competitor for $300 million to enhance market presence[7] Product Development and Innovation - New product launches are expected to contribute an additional $300 million in revenue over the next two quarters[5] - New product launch in Q4 2023 is anticipated to contribute an additional $200 million in revenue[4] - Investment in R&D increased by 25%, totaling $150 million, focusing on next-generation technologies[5] - The company is investing $1 billion in 5G technology development to enhance service offerings and network capacity[5] Operational Efficiency and Cost Management - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain[9] - The company is focusing on enhancing its cybersecurity measures, allocating $50 million for upgrades in the next year[5] Future Outlook - Future outlook remains positive with a focus on sustainable growth and innovation in service offerings[10] - The company’s forward-looking statements include expectations regarding future operating performance and business prospects, which are subject to risks and uncertainties[186] - The company does not undertake any obligation to update or revise forward-looking statements after the date they are made[188] Financial Reporting - The company reported consolidated financial statements for the years ended December 31, 2023, and 2024, prepared in accordance with IFRS[181] - The exchange rate for converting Indonesian Rupiah to U.S. Dollars was Rp16,095.0 to US$1.00 for December 31, 2024, and Rp15,398.5 to US$1.00 for December 31, 2023[182] - Certain numerical figures in the financial data have been subject to rounding adjustments, which may cause slight variations in totals[183]
Telekomunikasi Indonesia: Buyback Program And ARPU Growth Are Positive Signals
Seeking Alpha· 2025-04-22 13:33
Group 1 - The article focuses on the Asia Value & Moat Stocks research service, which targets value investors looking for Asia-listed stocks with significant discrepancies between price and intrinsic value [1] - The service emphasizes deep value balance sheet bargains, such as net cash stocks and low price-to-book (P/B) stocks, as well as wide moat stocks that represent high-quality businesses [1] - The author provides a range of watch lists with monthly updates, specifically concentrating on investment opportunities in the Hong Kong market [1]
Telkom Indonesia(TLK) - 2025 Q1 - Quarterly Report
2025-04-18 11:17
Front Matter [Statement of the Board of Directors](index=5&type=section&id=Statement%20of%20the%20Board%20of%20Directors) The **Board of Directors** affirms responsibility for the fair presentation of **2024** consolidated financial statements in accordance with **Indonesian Financial Accounting Standards** - The **Board of Directors is responsible** for the preparation, presentation, and internal control system related to the consolidated financial statements[10](index=10&type=chunk) - The financial statements for the year ended December **31**, **2024**, have been prepared and presented in accordance with **Indonesian Financial Accounting Standards**[10](index=10&type=chunk) [Independent Auditor's Report](index=6&type=section&id=Independent%20Auditor%27s%20Report) The independent auditor issued an **unqualified opinion** on the **2024** consolidated financial statements, with **telecommunication infrastructure useful lives** as a **key audit matter** - The auditor issued an **unqualified opinion**, stating the financial statements are fairly presented in accordance with **Indonesian Financial Accounting Standards**[14](index=14&type=chunk) - The **key audit matter** identified was the '**Evaluation of telecommunication infrastructure estimated useful lives**,' which represents **54%** of total consolidated assets at **Rp161,035 billion**[19](index=19&type=chunk) - The audit response to the **key audit matter** involved **evaluating internal controls**, **assessing management's assumptions** regarding asset replacements and technological developments, and performing **benchmarking analysis** against industry peers[21](index=21&type=chunk)[22](index=22&type=chunk) Consolidated Financial Statements [Consolidated Statements of Financial Position](index=11&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) Total assets increased to **Rp299,675 billion** in **2024**, with corresponding increases in total liabilities and total equity Consolidated Statement of Financial Position Highlights (in billions of Rupiah) | Account | 2024 | 2023 | | :--- | :--- | :--- | | **Total Current Assets** | 63,080 | 55,613 | | **Total Non-current Assets** | 236,595 | 231,429 | | **TOTAL ASSETS** | **299,675** | **287,042** | | **Total Current Liabilities** | 76,767 | 71,568 | | **Total Non-current Liabilities** | 60,418 | 58,912 | | **TOTAL LIABILITIES** | **137,185** | **130,480** | | **TOTAL EQUITY** | **162,490** | **156,562** | | **TOTAL LIABILITIES AND EQUITY** | **299,675** | **287,042** | [Consolidated Statements of Profit or Loss and Other Comprehensive Income](index=12&type=section&id=Consolidated%20Statements%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Revenues slightly increased to **Rp149,967 billion** in **2024**, but rising costs led to a decline in operating profit and profit for the year Consolidated Income Statement Highlights (in billions of Rupiah) | Account | 2024 | 2023 | | :--- | :--- | :--- | | **REVENUES** | **149,967** | **149,216** | | **OPERATING PROFIT** | **42,991** | **44,384** | | **PROFIT BEFORE INCOME TAX** | 39,153 | 40,794 | | **PROFIT FOR THE YEAR** | **30,743** | **32,208** | | Profit attributable to owners | 23,649 | 24,560 | | **TOTAL COMPREHENSIVE INCOME** | **31,638** | **30,754** | | **BASIC EARNINGS PER SHARE (Rp)** | **238.73** | **247.92** | [Consolidated Statements of Changes in Equity](index=13&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity increased to **Rp162,490 billion** in **2024**, primarily due to profit for the year, partially offset by **cash dividend** payments - Total equity grew from **Rp156,562 billion** at the end of **2023** to **Rp162,490 billion** at the end of **2024**[40](index=40&type=chunk) - The increase in equity was mainly due to the profit for the year (**Rp30,743 billion**), offset by **cash dividend** payments (**Rp24,782 billion**)[40](index=40&type=chunk) [Consolidated Statements of Cash Flows](index=14&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities was **Rp61,600 billion** in **2024**, leading to a **Rp4,639 billion** net increase in cash and cash equivalents after investing and financing outflows Consolidated Cash Flow Summary (in billions of Rupiah) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **61,600** | **60,581** | | **Net cash used in investing activities** | **(29,456)** | **(36,909)** | | **Net cash used in financing activities** | **(27,505)** | **(26,567)** | | Net increase (decrease) in cash | 4,639 | (2,895) | | **Cash and cash equivalents at end of year** | **33,905** | **29,007** | Notes to the Consolidated Financial Statements [Note 1. General](index=15&type=section&id=1.%20GENERAL) Note **1** details the company's business, management, and key corporate actions, such as the **IndiHome spin-off to Telkomsel** and **Mitratel's telecommunication towers** acquisitions - The company's main business activities include providing **telecommunication networks**, information services, and **investing in other companies** to support its objectives[48](index=48&type=chunk) - A key corporate action was the **spin-off of the IndiHome business to Telkomsel** on **July 1, 2023**, which increased the company's **effective ownership in Telkomsel** from **65%** to **69.9%**[80](index=80&type=chunk) - Subsidiary **Mitratel** conducted **share buybacks**, repurchasing shares worth **Rp704 billion** as of Dec **31**, **2024**, and acquired **1,800 telecommunication towers** in **2023**[81](index=81&type=chunk)[84](index=84&type=chunk) [Note 2. Summary of Material Accounting Policies](index=25&type=section&id=2.%20SUMMARY%20OF%20MATERIAL%20ACCOUNTING%20POLICIES) Note **2** details material accounting policies, including revenue recognition and significant estimates, all conforming to **Indonesian Financial Accounting Standards (PSAK)** - The financial statements are prepared on an **accrual basis** in accordance with **Indonesian Financial Accounting Standards (PSAK)**[94](index=94&type=chunk)[95](index=95&type=chunk) - Revenue recognition follows a **five-step model under PSAK 115**, with specific policies for **four main streams: Mobile, Consumer, Enterprise, and Wholesale & International Business (WIB)**[165](index=165&type=chunk)[166](index=166&type=chunk)[170](index=170&type=chunk)[173](index=173&type=chunk)[178](index=178&type=chunk) - Significant accounting estimates include **retirement benefit obligations**, **useful lives of property and equipment**, **allowance for expected credit losses**, and **fair value measurement of financial instruments**[253](index=253&type=chunk)[257](index=257&type=chunk)[259](index=259&type=chunk)[267](index=267&type=chunk) [Financial Position Details (Notes 3-22)](index=53&type=section&id=Financial%20Position%20Details%20(Notes%203-22)) Notes **3-22** detail key financial position accounts, including assets, liabilities, and equity components like **non-controlling interests** Key Asset and Liability Balances (in billions of Rupiah) | Account | 2024 | 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | 33,905 | 29,007 | | Trade receivables - net | 12,193 | 10,667 | | Property and equipment - net | 180,566 | 180,755 | | Intangible assets - net | 9,442 | 8,731 | | Trade payables | 15,336 | 18,608 | | Short-term bank loans | 11,525 | 9,650 | | Long-term loans (incl. current) | 41,384 | 38,049 | - Material **non-controlling interests** are held in subsidiaries **Telkomsel** (**30.10%**) and **Mitratel** (**28.16%**), with a total NCI balance of **Rp20,396 billion**[341](index=341&type=chunk)[342](index=342&type=chunk) [Operational and Performance Details (Notes 23-29)](index=76&type=section&id=Operational%20and%20Performance%20Details%20(Notes%2023-29)) Notes **23-29** detail income statement components, including revenue by segment, major expenses, taxation, **earnings per share**, and dividend distributions Revenue by Segment (in billions of Rupiah) | Segment | 2024 | 2023 | | :--- | :--- | :--- | | Mobile | 83,400 | 85,291 | | Consumer | 26,310 | 26,436 | | Enterprise | 20,584 | 19,497 | | WIB | 18,000 | 16,922 | | Others | 1,673 | 1,070 | | **Total Revenues** | **149,967** | **149,216** | - **Basic earnings per share decreased to Rp238.73 in 2024 from Rp247.92 in 2023**[382](index=382&type=chunk) - **A cash dividend of Rp17,683 billion (Rp178.50 per share) for the 2023 fiscal year was approved and paid in May 2024**[384](index=384&type=chunk) [Other Notes (Notes 30-41)](index=86&type=section&id=Other%20Notes%20(Notes%2030-41)) Notes **30-41** cover pension benefits, segment performance, **contingencies**, **financial risk management**, subsequent events, and **PSAK/IFRS** differences - The company reports on **four primary segments: Mobile, Consumer, Enterprise, and WIB**. The **Mobile segment remains the largest contributor to revenue and profit**[444](index=444&type=chunk)[447](index=447&type=chunk) - A **significant contingency** exists related to ongoing investigations by the **U.S. SEC and DOJ** concerning a project with **BAKTI Kominfo**, accounting practices, and **FCPA compliance**. The potential financial impact is currently **not estimable**[484](index=484&type=chunk)[485](index=485&type=chunk) - Subsequent to year-end, the **Indonesian Government transferred its 52.09% stake** to a state-owned holding company, **PT Biro Klasifikasi Indonesia (BKI)**, and the company announced a **share buyback plan of up to Rp3,000 billion**[535](index=535&type=chunk) - The **net debt-to-equity ratio increased slightly from 28.82% in 2023 to 30.24% in 2024**[530](index=530&type=chunk)
Telkom Indonesia(TLK) - 2024 Q3 - Earnings Call Transcript
2024-10-31 20:47
Financial Data and Key Metrics Changes - For the nine months of 2024, Telkom Group reported a revenue growth of 0.9% year-on-year to IDR 112.2 trillion, while EBITDA decreased by 4.1% year-on-year to IDR 56.6 trillion [17] - The normalized EBITDA, excluding one-off costs, stood at IDR 57.8 trillion, reflecting a decline of 2.1% year-on-year, with a normalized EBITDA margin of 51.5% [18] - Operating net income fell by 5.1% year-on-year to IDR 18.6 trillion after adjusting for various one-off effects [19] Business Line Data and Key Metrics Changes - The B2C segment, particularly Telkomsel, experienced a strong growth of 16.4% year-on-year, although it saw a slight revenue decline of 2.1% in Q3 due to seasonality and purchasing power weakness [23] - The Digital business reported a 2.5% year-on-year growth, supported by a stable mobile customer base of 158.4 million [24] - Fixed broadband business showed significant growth of 200.6% year-on-year, driven by the integration of IndiHome and the addition of 682,000 new customers, totaling 9.4 million [26] Market Data and Key Metrics Changes - The competitive landscape in the telecom sector is stabilizing, with improvements in supply-demand dynamics and selective price increases from competitors [9] - The overall economic environment in Indonesia remains resilient, with inflation recorded at 1.8% year-on-year in September, down from 2.1% in August [7] Company Strategy and Development Direction - The company is focused on a "5 Bold Moves" strategy aimed at corporate transformation and efficient business processes, including procurement improvements [12] - Telkom Group is committed to avoiding price wars and instead aims for sustainable revenue generation by enhancing data consumption productivity [10] - The InfraCo initiative has progressed, with the establishment of PT Telkom Infrastruktur Indonesia to manage fiber assets, expected to start commercial operations by the end of 2024 [15][99] Management Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about future revenue growth, targeting low single-digit growth for 2024, with EBITDA margins expected to remain between 50% to 52% [29] - The company anticipates that improvements in purchasing power from social welfare programs could support consumer spending [10] - Management acknowledged the challenges posed by heightened competition and a relatively soft purchasing power environment [11] Other Important Information - Total liabilities remained flat at IDR 130.7 trillion, with a healthy net debt-to-EBITDA ratio of 0.6 times [22] - The company aims to accelerate CapEx spending towards the end of the year, targeting a CapEx to revenue ratio of 22% to 24% [21] Q&A Session Summary Question: Why are data revenues declining faster than legacy revenues? - Management indicated that the decline in data revenues is due to increased competition and price pressure, leading to strategic pricing adjustments to retain market share [32][33] Question: What are the targets for synergies from the fixed mobile conversion strategy? - Management confirmed that while synergies are being achieved, the full financial impact is expected to materialize in the coming years as integration progresses [34][35] Question: What is the outlook for Telkomsel's EBITDA margin? - The EBITDA margin for Telkomsel is expected to be around 45% to 46% by the end of 2024, influenced by increased operating and maintenance costs [56] Question: How is the company addressing ARPU declines? - Management noted that ARPU declines are primarily due to the legacy service contraction and emphasized efforts to stabilize ARPU through upselling and enhancing digital content offerings [62][85] Question: What is the status of the InfraCo initiative? - The fiber company, Telekom Infrastruktur Indonesia, has been established and will start commercializing fiber assets by the end of 2024 [99]