Core Insights - The article discusses the evaluation of value stocks using various metrics, including P/E ratio, P/S ratio, earnings yield, and cash flow per share [1] - It emphasizes the effectiveness of combining a strong Zacks Rank with a high Value category grade for optimal returns [2] Valuation Metrics - PT Telekomunikasi (TLK) has a P/B ratio of 1.77, while Telus (TU) has a P/B ratio of 1.82, indicating TLK is slightly more attractive in terms of book value comparison [3] - TLK has a forward P/E ratio of 11.24 compared to TU's 21.01, suggesting TLK is undervalued relative to its earnings potential [7] - TLK's PEG ratio is 1.45, while TU's PEG ratio is 2.37, further indicating TLK's superior valuation when considering expected earnings growth [7] Zacks Rank and Value Grades - TLK currently holds a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook compared to TU, which has a Zacks Rank of 4 (Sell) [4] - TLK has been assigned a Value grade of B, while TU has a Value grade of C, highlighting TLK's better positioning for value investors [5] Investment Consideration - Investors in the Diversified Communication Services sector may find TLK to be a more attractive option than TU based on the discussed valuation metrics and earnings outlook [6][9]

Company Overview - PT Telekomunikasi (TLK) is headquartered in Bandung and operates in the Utilities sector, experiencing a price change of -28.92% this year [3] - The company currently pays a dividend of $0.85 per share, resulting in a dividend yield of 4.64%, which is significantly higher than the Diversified Communication Services industry's yield of 1.58% and the S&P 500's yield of 1.57% [3] Dividend Performance - The current annualized dividend of $0.85 represents a 0.2% increase from the previous year [4] - Over the last 5 years, PT Telekomunikasi has increased its dividend 3 times year-over-year, with an average annual increase of 7.97% [4] - The company's current payout ratio is 53%, indicating that it paid out 53% of its trailing 12-month earnings per share as dividends [4] Earnings Outlook - PT Telekomunikasi is expected to see earnings growth this fiscal year, with the Zacks Consensus Estimate for 2024 at $1.72 per share, reflecting a 5.52% increase from the previous year [5] Investment Considerations - TLK is viewed as an attractive dividend investment opportunity, supported by a Zacks Rank of 2 (Buy) [7] - The company is positioned as a compelling option for income investors, particularly due to its higher dividend yield compared to industry peers [7]

Company Comparison - PT Telekomunikasi (TLK) has a Zacks Rank of 2 (Buy), indicating a stronger improvement in its earnings outlook compared to BCE, which has a Zacks Rank of 4 (Sell) [3] - TLK's forward P/E ratio is 10.65, significantly lower than BCE's forward P/E of 15.21, suggesting TLK is more attractively valued [5] - TLK has a PEG ratio of 1.38, which is lower than BCE's PEG ratio of 5.30, indicating TLK offers better value considering its expected earnings growth [5] - TLK's P/B ratio is 1.68, compared to BCE's P/B ratio of 2.47, further supporting TLK's valuation advantage [6] - TLK earns a Value grade of B, while BCE has a Value grade of C, based on key metrics such as P/E, P/S, earnings yield, and cash flow per share [4][6] Valuation Metrics - The Value category grades stocks using traditional metrics like P/E ratio, P/S ratio, earnings yield, and cash flow per share, which are crucial for value investors [4] - TLK's lower forward P/E and PEG ratios, along with its P/B ratio, highlight its superior valuation compared to BCE [5][6] Earnings Outlook - TLK's improving earnings outlook makes it stand out in the Zacks Rank model, reinforcing its position as the better value option [7]

Financial Data and Key Metrics Changes - The consolidated revenue for the first quarter of 2024 increased by 32.7% year-on-year to IDR 28.5 trillion, with mobile revenue contributing IDR 31.9 trillion and fixed broadband revenue at IDR 6.6 trillion [55][84] - Operating net income grew by 3.1% year-on-year to IDR 6.3 trillion, reflecting stable profitability levels supported by mobile business growth [55][83] - EBITDA stood at IDR 19.4 trillion, an increase of 2.2% from the previous year, indicating effective expense management [83] Business Line Data and Key Metrics Changes - Digital business revenue of Telkomsel grew by 8.6% year-on-year, increasing its contribution to mobile revenue from 84.4% to 89.9% [48] - The mobile customer base expanded to 159.7 million, while IndiHome B2C customers reached 8.9 million [48] - The data center business recorded revenue of IDR 449 billion, growing by 6.4% year-on-year, with plans to increase capacity to 60 megawatts by the end of 2024 [57][49] Market Data and Key Metrics Changes - The wholesale and international business segment contributed IDR 4.8 trillion, growing by 17.8% due to increased international wholesale voice business and digital connectivity infrastructure [49] - Data usage increased by 11% year-on-year, indicating a positive trend in customer engagement and service utilization [32][126] Company Strategy and Development Direction - The company aims to become the largest coverage operator in Indonesia by targeting youth and mass market segments through products like Telkomsel Lite [84][46] - The integration of Fixed Mobile Convergence (FMC) is a key strategy to enhance customer engagement and optimize service offerings [46][84] - The company is focused on maintaining profitability while fostering healthy competition in the market, with a commitment to smart acquisitions and quality customer retention [84][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by macroeconomic factors such as inflation and geopolitical situations but emphasized a stable outcome and increased traffic as indicators of improved customer productivity [53] - The outlook for mobile revenue growth is maintained at low-to-mid single digits for 2024, with expectations for a spectrum auction in the second half of the year [111][111] Other Important Information - The company is actively pursuing partnerships for its data center business to enhance capabilities and market reach [49][57] - The company has initiated a monetization process expected to conclude by the end of 2024, focusing on optimizing network consolidation and operational efficiency [58][57] Q&A Session Summary Question: Impact of Telkomsel Lite on mobile revenue outlook for 2024 - Management noted that the attraction of Telkomsel Lite aligns with internal plans, showing positive trends in customer engagement and traffic growth [66][71] Question: Update on spectrum auction timelines - Management expects the auction to occur in the second half of the year, pending official government announcements [111] Question: Reasons for decline in IndiHome B2C revenue and ARPU - The decline is attributed to customer type alignment, but there was a net addition of 222,000 customers in Q1, indicating positive progress [95][95] Question: Reactions from competitors following Telkomsel Lite launch - Management indicated that competitors are expected to respond with appropriate pricing and offerings, maintaining healthy market conduct [28][25] Question: Cost optimization programs and target savings - Management discussed ongoing cost optimization efforts, expecting a synergy impact of IDR 1.8 trillion from the integration of IndiHome [39][129] Question: Clarification on B2B vs B2C revenue reclassification - Management confirmed that the reclassification is between Telkomsel and Telkom, with no significant impact on transaction values [22][123]

Subscriber Base and Customer Segments - Telkom has 10.1 million IndiHome fixed broadband subscribers and 159.3 million cellular subscribers, including 7.5 million postpaid and 151.8 million prepaid subscribers[21]. - The company serves 524 groups of SOEs, 1,694 private customers, 618,854 SME customers, and 714 government institution customers[22]. - Telkom's digital services have 17.7 million active users in digital music, 15.6 million paying users in digital games, and 10.5 million paying users in digital edutainment[24]. Infrastructure and Network - The company is focused on expanding its infrastructure through the Indonesia Cyber Core Program, which includes id-Service, id-Convergence, and id-Network[25]. - Telkom's subsidiaries include Telkomsel, which covers over 90% of Indonesia's population, and PT Telkom Akses, which manages fixed broadband access networks[18]. - The company operates a fiber optic backbone network of 176,663 km, with 111,663 km domestic and 64,700 km international[29]. - The mobile network consists of 247,472 base transceiver stations (BTS), including 654 BTS for 5G[30]. - Telkom has 38 million homes passed with its fiber optic access network[27]. Financial Performance - Total revenues for 2023 reached Rp149,216 billion, a 1.3% increase from Rp147,306 billion in 2022[31]. - EBITDA for 2023 was Rp77,579 billion, slightly down from Rp78,992 billion in 2022, resulting in an EBITDA margin of 51.9%[31][41]. - Profit for the year attributable to owners of the parent company increased to Rp24,560 billion, up 18% from Rp20,753 billion in 2022[31]. - Total assets as of 2023 amounted to Rp287,042 billion, an increase from Rp275,192 billion in 2022[32]. - Capital expenditure for 2023 was Rp32,968 billion, a decrease from Rp34,156 billion in 2022[33]. - Revenue for the financial year 2023 reached Rp149,216 billion, reflecting a 1.30% year-over-year growth[54]. - EBITDA decreased to Rp77,579 billion, down 1.79% year-over-year[54]. - Net profit increased to Rp24,560 billion, showing an 18.3% year-over-year growth[54]. Market Position and Growth Strategy - The company aims to enhance its market position through strategic partnerships and acquisitions in the telecommunications sector[18]. - The telecommunications industry in Indonesia is projected to grow by 5.3% in 2024, supported by strong domestic consumption and investment growth[62]. - The digital economy's contribution to Indonesia's GDP is expected to rise from 8% in 2022 to 14% in 2027[64]. - Telkom's CAPEX plan for future growth is set at 22% of total revenue, focusing on mobile, fixed broadband, data center & cloud, and infrastructure[83]. - The ICT sector contributed Rp812.81 trillion to the national GDP in 2022, with a predicted CAGR of 6.1% from 2023 to 2027[64]. Sustainability and Corporate Governance - Telkom has initiated a commitment to Net Zero Emission through NeutraDC, emphasizing sustainability in operations[53]. - The ASEAN Corporate Governance Scorecard (ACGS) score improved from 97.87 to 98.5, reflecting enhanced corporate governance practices[90]. - The company is committed to maintaining transparency and good corporate governance practices[179]. Digital Transformation and Innovation - The company is actively involved in various digital services, including e-commerce for B2B and property management to optimize its assets across Indonesia[23]. - Telkom's digital transformation strategy includes a diverse portfolio of products and services across various business segments, including mobile, consumer, and enterprise[159]. - The company is transforming towards B2B Digital IT Services through partnerships with major technology firms like Microsoft and AWS[142]. - The company has increased collaboration with major technology firms, including Microsoft, to enhance its service offerings[155]. Employee and Organizational Structure - As of the end of 2023, Telkom has a total of 23,064 employees, a decrease of 729 employees or 3% compared to 2022[207]. - The number of employees from the parent company is 7,469, down from 8,919 in 2022[208]. - The largest proportion of employees, 68% or 15,624 people, hold an undergraduate degree[209]. - 73.4% or 16,925 employees are under the age of 45, a decrease of 1% compared to the previous period[210]. - The company emphasizes creating a professional and safe work environment for its employees[205]. Strategic Initiatives and Future Plans - The company is implementing a transformation strategy with five bold moves, including Fixed Mobile Convergence and InfraCo, to enhance operational efficiency and market penetration[138][139]. - The company plans to build and manage data centers with a target capacity of 62 MW by 2025, including Hyperscale Data Centers and Edge Data Centers[115]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's capabilities and is expected to close by Q2 2024[170]. - The company is investing $50 million in research and development for new technologies aimed at improving user experience[171]. - Operational efficiency initiatives are projected to reduce costs by 10%, enhancing overall profitability[172].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...

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 October 2023 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 (Addr ...

SETYAWAN Customer-centric telco operator | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|----------|-------|-------|-------|-------|-------|-------|-----------| | | | | | | | | | | | | 1H23 | | | 9.3 | 7.5 | | | 5.4 5.5 | | | Revenues | | | | | 4.2 | 4.5 | | Corporate Presentation 1H23 Results Disclaimer 3 1H23 Financial and Operational Results | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------------------------------------------------------|--------------- ...

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) Q2 2023 Earnings Conference Call August 1, 2023 4:00 AM ET Company Participants Edwin Sebayang - Vice President of Investor Relations Ririek Adriansyah - President, Director & Chief Executive Officer Heri Supriadi - Finance & Risk Management Director Derrick Heng - Marketing Director Mohamad Ramzy - Director of Finance & Risk Management Conference Call Participants Piyush Choudhary - HSBC Arthur Pineda - Citi Hussaini Saifee - UBS Ran ...

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 2023 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 ...