PT XL Axiata Tbk

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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 2021	IDR	USD
Revenue	26,754.10B	1,871.58M
Gross Profit	6,196.40B	433.47M
Operating income	3,330.60B	232.99M
Income before tax	1,707.50B	119.44M
Net income	1,287.80B	90.08M
EBITDA	13,286.80B	929.47M
Diluted EPS	120.71	0.00
Dividends Per Share	51	0.00
Total Assets	72,753.30B	5,104.59M
Total liabilities	52,664.60B	3,695.11M
Total equity	20,088.70B	1,409.48M
Operating cash flow	11,963.30B	836.89M
	Currency in IDR	Currency in USD

Historical Data

IDR | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	22,875.66B	22,938.81B	25,132.62B	26,009.09B	26,754.10B
Gross Profit	3,537.39B	-593,948M	5,121.13B	2,762.04B	6,196.40B
Operating income	1,370.20B	-3,109.01B	2,619.66B	621,620M	3,330.60B
Income before tax	221,238M	-4,396.28B	1,144.11B	146,211M	1,707.50B
Net income	375,244M	-3,296.89B	712,579M	371,598M	1,287.80B
EBITDA	8,321.24B	8,512.30B	9,982.86B	13,076.30B	13,286.80B
Diluted EPS	35	-308.46	66.67	34.84	120.71
Dividends Per Share	0	0	20	31.70	51
Total Assets	56,321.44B	57,613.95B	62,725.24B	67,744.79B	72,753.30B
Total liabilities	34,690.59B	39,270.85B	43,603.27B	48,607.43B	52,664.60B
Total equity	21,630.85B	18,343.09B	19,121.96B	19,137.36B	20,088.70B
Operating cash flow	8,763.18B	8,521.39B	11,442.04B	13,304.69B	11,963.30B

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	1,709.46M	1,611.23M	1,777.21M	1,788.58M	1,871.58M
Gross Profit	264.34M	-41.71M	362.13M	189.93M	433.47M
Operating income	102.39M	-218.37M	185.24M	42.74M	232.99M
Income before tax	16.53M	-308.79M	80.90M	10.05M	119.44M
Net income	28.04M	-231.57M	50.38M	25.55M	90.08M
EBITDA	621.83M	597.90M	705.92M	899.22M	929.47M
Diluted EPS	0.00	-0.02	0.00	0.00	0.00
Dividends Per Share	0	0	0.00	0.00	0.00
Total Assets	4,151.20M	4,006.53M	4,518.29M	4,821.69M	5,104.59M
Total liabilities	2,556.88M	2,730.93M	3,140.88M	3,459.60M	3,695.11M
Total equity	1,594.31M	1,275.59M	1,377.41M	1,362.09M	1,409.48M
Operating cash flow	654.85M	598.54M	809.10M	914.93M	836.89M

Valuation Measures

Dec 2021
PER	26.26
ROA	1.83%
ROE	6.56%
Operating margin	12.44%
Profit margin	4.81%

Key executives

President Director: Dian Siswarini
Chief Financial Officer & Director: Budi Pramantika
Chief Technology Officer & Director: I Gede Darmayusa
Director: Yessie D. Yosetya
Director: David Arcelus Oses

Shareholders

Axiata Group Bhd. (61.1%)
PT XL Axiata Tbk (5.1%)
Norges Bank Investment Management (2.0%)
The Vanguard Group, Inc. (1.0%)
Dimensional Fund Advisors LP (0.7%)
Brandes Investment Partners LP (0.7%)
BlackRock Fund Advisors (0.5%)
Templeton Investment Counsel LLC (0.4%)
PT Schroder Investment Management Indonesia (0.1%)
PT Indo Premier Securities (Investment Management) (0.1%)

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

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Competitors

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

Last Updated on 1 Jul, 2022