PT XL Axiata Tbk

Company Background

XL Axiata is Indonesia's second-largest mobile phone operator by subscribers. XL was established in 1995 as a joint venture between several companies, including an affiliate of Rajawali Group, an Indonesian conglomerate. The shares were later consolidated under the Axiata Group, Malaysia's largest telecommunications company and a two-thirds shareholder. The remainder is publicly traded on the Indonesia Stock Exchange.

Hasnul Suhaimi, an Indonesian, became the company's president and chief executive only a few months after resigning as president of rival Indosat in 2006. The move came amid allegations that Singapore's sovereign wealth fund, Temasek Holdings -- an indirect shareholder in Indosat and its rival, Telekomunikasi Selular better known as Telkomsel -- violated Indonesia's antimonopoly laws. Indosat did not publicly provide a reason for Suhaimi's departure.

XL spent $865 million to buy smaller rival Axis Telekom Indonesia, putting it ahead of Indosat. But the acquisition left XL with a hefty debt, prompting the company to sell 3,500 telecommunication towers to a local tower operator.

Business Summary

PT XL Axiata Tbk engages in the provision of telephony services. It offers the following products and services: cellular mobile network, internet services provider, closed fixed network services, internet telephony service for public interest license, internet interconnection services, and packet switched local fixed network license. The company was founded on October 6, 1989 and is headquartered in Jakarta Selatan, Indonesia.

Financial Highlights

Dec 2022	IDR	USD
Revenue	29,141.99B	1,962.12M
Gross Profit	6,628.85B	446.32M
Operating income	3,658.15B	246.30M
Income before tax	1,353.03B	91.09M
Net income	1,109.44B	74.69M
EBITDA	14,235.34B	958.46M
Diluted EPS	103.44	0.00
Dividends Per Share	--	--
Total Assets	87,277.78B	5,606.40M
Total liabilities	61,503.55B	3,950.76M
Total equity	25,643.14B	1,647.22M
Operating cash flow	13,619.14B	916.97M
	Currency in IDR	Currency in USD

Historical Data

IDR | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	22,938.81B	25,132.62B	26,009.09B	26,754.10B	29,141.99B
Gross Profit	-593,948M	5,121.13B	2,762.04B	6,196.40B	6,628.85B
Operating income	-3,109.01B	2,619.66B	621,620M	3,330.60B	3,658.15B
Income before tax	-4,396.28B	1,144.11B	146,211M	1,707.50B	1,353.03B
Net income	-3,296.89B	712,579M	371,598M	1,287.80B	1,109.44B
EBITDA	8,512.30B	9,982.86B	13,076.30B	13,286.80B	14,235.34B
Diluted EPS	-308.46	66.67	34.84	120.71	103.44
Dividends Per Share	0	20	31.70	51	--
Total Assets	57,613.95B	62,725.24B	67,744.79B	72,753.30B	87,277.78B
Total liabilities	39,270.85B	43,603.27B	48,607.43B	52,664.60B	61,503.55B
Total equity	18,343.09B	19,121.96B	19,137.36B	20,088.70B	25,643.14B
Operating cash flow	8,521.39B	11,442.04B	13,304.69B	11,963.30B	13,619.14B

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	1,611.23M	1,777.21M	1,788.58M	1,871.58M	1,962.12M
Gross Profit	-41.71M	362.13M	189.93M	433.47M	446.32M
Operating income	-218.37M	185.24M	42.74M	232.99M	246.30M
Income before tax	-308.79M	80.90M	10.05M	119.44M	91.09M
Net income	-231.57M	50.38M	25.55M	90.08M	74.69M
EBITDA	597.90M	705.92M	899.22M	929.47M	958.46M
Diluted EPS	-0.02	0.00	0.00	0.00	0.00
Dividends Per Share	0	0.00	0.00	0.00	--
Total Assets	4,006.53M	4,518.29M	4,821.69M	5,104.59M	5,606.40M
Total liabilities	2,730.93M	3,140.88M	3,459.60M	3,695.11M	3,950.76M
Total equity	1,275.59M	1,377.41M	1,362.09M	1,409.48M	1,647.22M
Operating cash flow	598.54M	809.10M	914.93M	836.89M	916.97M

Valuation Measures

Dec 2022
PER	20.68
ROA	1.38%
ROE	4.85%
Operating margin	12.55%
Profit margin	3.80%

Key executives

President Director: Dian Siswarini
Chief Technology Officer & Director: I Gede Darmayusa
Director: Yessie D. Yosetya
Director: David Arcelus Oses
Director & Chief Commercial Officer: Abhijit J. Navalekar

Shareholders

Axiata Group Bhd. (66.2%)
PT XL Axiata Tbk (4.1%)
Norges Bank Investment Management (1.4%)
The Vanguard Group, Inc. (1.0%)
PT Batavia Prosperindo Aset Manajemen (0.8%)
Dimensional Fund Advisors LP (0.7%)
BlackRock Fund Advisors (0.5%)
Brandes Investment Partners LP (0.3%)
BlackRock Advisors (UK) Ltd. (0.0%)
Mellon Investments Corp. (0.0%)

Contact Details

Website:http://www.xlaxiata.co.id
Address: XL Axiata Tower, JL. H. R. Rasuna Said X5 Kav. 11-12, Jakarta Selatan, 12950, Indonesia
Phone: +62.21.576.1881

Related Companies

PT Magna Karya Archipelago
Axis Telekom
PT Hipernet IndoData
Excel Phoneloan 818 BV
Excelcomindo Finance Co. BV

Competitors

PT Telkom Indonesia (Persero) Tbk Class B
PT Sarana Menara Nusantara Tbk

Last Updated on 24 Mar, 2023