Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (TLKM) Corporate presentation summary

Strategic transformation and governance

• Implemented TLKM30 transformation, focusing on operational excellence, portfolio optimization, and value unlocking through asset monetization and HoldCo-OpCo restructuring.

• Strengthened governance with new compliance roles, internal controls, and a reset of corporate culture, including an Early Retirement Program for efficiency.

• Transitioned to segment-led reporting for improved transparency and performance measurement, eliminating overlapping business lines.

• Completed Phase-1 spin-off of fiber assets to Infranexia, transferring Rp 35.8tn in value, with Phase-2 planned for 3Q26.

• Adjusted accounting policies, shortening asset useful lives and restating prior years’ financials, with no cash or dividend impact.

Financial and operational performance

• FY25 revenue declined 2.2% YoY to Rp 146.7tn, with EBITDA down 3.7% to Rp 72.2tn and net income down 20.5% to Rp 17.8tn; normalized net income fell 6.0%.

• Operating cash flow rose 3.6% YoY to Rp 63.8tn, supported by cost efficiencies and lower personnel expenses.

• Capex was Rp 27.5tn (18.8% of revenue), with 93% allocated to core digital connectivity businesses.

• Debt declined 2.5% to Rp 74.9tn, maintaining a healthy debt-to-equity ratio and strong free cash flow.

• Total shareholder return reached 35.7% in 2025, driven by share price appreciation, dividends, and buybacks.

Segment and business line highlights

• B2C revenue fell 3.4% YoY due to competition and legacy service decline, but mobile ARPU and digital business showed recovery in 2H25.

• B2B Infra revenue grew 9.2% YoY, while B2B ICT declined 2.8% amid restructuring; International revenue was flat.

• Telkomsel standalone saw EBITDA margin at 45.4% and net income of Rp 19.7tn, with digital business contributing 95% of mobile revenue.

• IndiHome B2C added 712K new subscribers, focusing on quality and convergence, though ARPU declined.

• Mitratel expanded to 40,230 towers, maintaining the largest tower portfolio in Southeast Asia.