PT Indosat (Indosat or Indosat Ooredoo Hutchison) is ready to strengthen its transformation towards AI Native TechCo to provide more values to shareholders and deliver the best digital experience for customers.
President Director and Chief Executive Officer of Indosat Ooredoo Hutchison, Vikram Sinha, told about the plan during the public expose of the company’s 2024 Annual General Meeting of Shareholders (AGMS) on Tuesday, May 21, 2024, which approved the distribution of cash dividends from the net profit for the financial year ending December 31, 2023 as a final dividend worth Rp 2,2 trillion (US$137.5 million).
The dividend for the financial year 2023 is equivalent to approximately 48 percent of the company’s net profit for the year 2023. The remaining net profit for the financial year 2023 amounting to Rp2,3 trillion will be allocated by the company to retained earnings.
“We would like to express our gratitude for the support that accompanies Indosat’s endless journey, continuing to create value in the transformative journey towards AI Native TechCo,” Vikran said as quoted by Antara.
Until the first quarter of 2024, continued Vikram, Indosat recorded a total net profit of Rp1.29 trillion, a 39.4 percent increase compared to the previous year (Year-on-Year/YoY). Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) experienced a faster increase than revenue, with 22.1 percent YoY growth to reach Rp6,5 trillion.
This financial performance pushed Indosat’s EBITDA Margin up to 47 percent and resulted in a profit for the period that can be distributed to owners of the parent entity of Rp1,29 trillion, an increase of 39.4 compared to the same period in the previous year.
Indosat has planned to expand the 4G BTS network and increase the coverage of product and service distribution through IM3 Mini Outlets and 3Kiosk to various rural areas, including in eastern Indonesia. To support the transformation into an AI Native TechCo, Indosat will invest in the development of technology-based human resources, improve service quality, and expand connectivity. This is supported by Indosat’s strategic partnership, through its subsidiary, with NVIDIA as the first Cloud Partner Provider in Indonesia as well as initiatives to empower women and MSMEs.
