Telekomunikasi Outperforms – Analyst Blog

P.T. Telekomunikasi Indonesia Tbk. (TLK), the largest telecom operator of Indonesia, declared encouraging financial results for the first quarter 2010. Quarterly net income was $299 million or 61 cents per ADS (American Depository Shares) compared to a net income of $211 million or 43 cents per ADS in the year-ago quarter.

 

Quarterly total revenue was $1,789 million compared to $1,263 million in the prior-year quarter. This was mainly due to a major increase in Data, Internet & Information technology services revenue together with increase in Cellular revenue.

 

Total operating expenses in the first quarter was $1,215 million, up 9.1% year-over-year. Quarterly operating income was $574 million, up 0.6% year-over-year. Operating margin in the reported quarter was 32.1% compared to 33.9% in the prior-year quarter.

 

Telekomunikasi generated $753 million cash from operations during the first quarter 2010 compared to $623 million in the year-ago quarter. Quarterly free cash flow (cash flow from operation less capital expenditure) was $283 million compared to $191 million in the year-ago quarter.

 

At the end of the first quarter 2010, Telekomunikasi had $799 million of cash & marketable securities on its balance sheet compared to $603 million at the end of the prior-year quarter. Total debt was $1,328 million at the end of the same quarter compared to $893 million at the end of the prior-year quarter.

 

 

Fixed Lines revenue in the first quarter 2010 was $360.4 million, down 6.7% year over year. Cellular revenue was $721.5 million, up 3% year over year. Interconnection revenue was $110 million, down 6.9% year-over-year. Data, Internet, & Information Technology Services revenue was $538.6 million, up 24.7% year over year. Network revenue was $30 million, up 5.3% year over year. Other Telecommunication Services revenue was $28.6 million, up 52.9% year over year.