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Communications

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 2019 IDRUSD
Revenue25,132.62B1,777.21M
Gross Profit5,121.13B362.13M
Operating income2,619.66B185.24M
Income before tax1,144.11B80.90M
Net income712,579M50.38M
EBITDA9,982.86B705.92M
Diluted EPS66.670.00
Dividends Per Share----
Total Assets62,725.24B4,518.29M
Total liabilities43,603.27B3,140.88M
Total equity19,121.96B1,377.41M
Operating cash flow11,442.04B809.10M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 22,876.18B 21,341.42B 22,875.66B 22,938.81B 25,132.62B
Gross Profit 12,330.85B 10,212.53B 3,537.39B -593,948M 5,121.13B
Operating income 1,082.08B 12,221M 1,370.20B -3,109.01B 2,619.66B
Income before tax -630,526M 185,581M 221,238M -4,396.28B 1,144.11B
Net income -25,338M 375,516M 375,244M -3,296.89B 712,579M
EBITDA 8,217.38B 8,058.26B 8,321.24B 8,512.30B 9,982.86B
Diluted EPS -2.95 38 35 -308.46 66.67
Dividends Per Share 0 0 0 -- --
Total Assets 58,844.32B 54,896.28B 56,321.44B 57,613.95B 62,725.24B
Total liabilities 44,752.68B 33,687.14B 34,690.59B 39,270.85B 43,603.27B
Total equity 14,091.63B 21,209.14B 21,630.85B 18,343.09B 19,121.96B
Operating cash flow 6,246.22B 5,975.69B 8,763.18B 8,521.39B 11,442.04B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,707.52M 1,604.56M 1,709.46M 1,611.23M 1,777.21M
Gross Profit 920.40M 767.83M 264.34M -41.71M 362.13M
Operating income 80.76M 0.91M 102.39M -218.37M 185.24M
Income before tax -47.06M 13.95M 16.53M -308.79M 80.90M
Net income -1.89M 28.23M 28.04M -231.57M 50.38M
EBITDA 613.36M 605.86M 621.83M 597.90M 705.92M
Diluted EPS -0.00 0.00 0.00 -0.02 0.00
Dividends Per Share 0 0 0 -- --
Total Assets 4,268.72M 4,074.69M 4,151.20M 4,006.53M 4,518.29M
Total liabilities 3,246.47M 2,500.43M 2,556.88M 2,730.93M 3,140.88M
Total equity 1,022.24M 1,574.25M 1,594.31M 1,275.59M 1,377.41M
Operating cash flow 466.23M 449.28M 654.85M 598.54M 809.10M

Valuation Measures

Dec 2019
PER47.24
ROA1.18%
ROE3.80%
Operating margin10.42%
Profit margin2.83%

Key executives

  • President Director: Dian Siswarini
  • Director-Finance: Mohamed Adlan bin Ahmad Tajudin
  • Director: Yessie D. Yosetya
  • Commercial Director: Allan Bonke
  • Chief Strategy & Director-Business Development: Abhijit Navalekar

Shareholders

  • Axiata Group Bhd. (66.2%)
  • Norges Bank Investment Management (1.4%)
  • The Vanguard Group, Inc. (1.1%)
  • Brandes Investment Partners LP (1.0%)
  • Dimensional Fund Advisors LP (0.9%)
  • PT Schroder Investment Management Indonesia (0.6%)
  • FIL Investment Management (Singapore) Ltd. (0.4%)
  • BlackRock Fund Advisors (0.3%)
  • APG Asset Management NV (0.2%)
  • Templeton Investment Counsel LLC (0.2%)

Contact Details

  • Website:http://www.xl.co.id
  • Address: XL Axiata Tower, Jalan H.R. Rasuna Said X5 Kay, Jakarta Selatan, 12950, Indonesia
  • Phone: +62.21.576.1881

Related Companies

  • Axis Telekom
  • Excel Phoneloan 818 BV
  • Excelcomindo Finance Co. BV

Competitors

  • PT Telekomunikasi Indonesia (Persero) Tbk. Class B
Last Updated on 2 Jun, 2020

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