• Revenue growth recorded across Consumer, Enterprise, Wholesale & International, including Telecommunication Towers, as well as Data Center and Cloud businesses.
• Implementation of Fixed-Mobile Convergence (FMC) yielded positive results, successfully completing the One-Billing integration.
• The company maintained EBITDA margins amidst the impact of the Early Retirement Program (ERP), which serves as a long-term investment.

Jakarta, April 19, 2025 – Amidst the dynamics of the global telecommunications industry and pressured macroeconomic conditions, PT Telkom Indonesia (Persero) Tbk (Telkom) successfully closed 2024 with positive financial performance. Telkom posted consolidated revenue of Rp150.0 trillion, a 0.5% increase compared to the previous year. Consolidated EBITDA (Earnings before Interest, Tax, Depreciation, and Amortization) was recorded at Rp75.0 trillion, with an EBITDA margin maintained at 50.0%, despite the impact of the Early Retirement Program (ERP) implemented in the second quarter of 2024. Furthermore, the Company also recorded a net profit of Rp23.6 trillion with a net profit margin of 15.8%. Meanwhile, net operating profit was recorded at Rp24.1 trillion with a net operating profit margin of 16.1%. 

In the fourth quarter of 2024, Telkom recorded positive revenue growth of 2.2% QoQ to Rp37.7 trillion. Meanwhile, net profit during this period increased by 1.0% QoQ to Rp6.0 trillion, with a net profit margin of 15.8%.

This positive achievement was driven by an increase in the Data, Internet & IT Services business which grew 3.5% YoY to IDR 90.5 trillion throughout 2024. This segment remains a key driver of Telkom’s performance, supported by the expansion of information technology services and digital content, along with increased data traffic (data payload) which further confirms the high demand for data by customers in Indonesia. Interconnection revenue in 2024 also experienced a growth of 1.3% YoY to IDR 9.2 trillion supported by increasing opportunities for international wholesale voice services. In addition, network revenue and other telecommunications services throughout 2024 grew double digits by 17.4% YoY to IDR 13.4 trillion, where this business in the fourth quarter of 2024 grew by 12.8% QoQ driven by the satellite services and managed solutions business.

Telkom President Director Ririek Adriansyah stated, “2024 was a challenging period for Indonesia’s telecommunications sector, influenced by weakening macroeconomic conditions caused by global instability and intensifying industry competition. Nevertheless, Telkom closed the year with positive performance and achievements. This reflects that our corporate transformation strategy is on the right track. Through infrastructure optimization, digital service innovation, and the strengthening of strategic partnerships, we continue striving to deliver relevant solutions for our customers and drive Indonesia’s digital economy growth. Moving forward, we will accelerate the implementation of the 5 Bold Moves strategy to enhance competitiveness, strengthen the digital ecosystem, and create sustainable value for all stakeholders.”

In the Consumer segment (Mobile and Fixed Broadband), Telkom’s subsidiary Telkomsel delivered solid results, booking revenue of IDR 113.3 trillion, an increase of 10.7% YoY. This positive growth was driven primarily by the Digital Business, which contributed revenue of IDR 78.3 trillion. Telkomsel also continues to focus on increasing market penetration, reaching 159.4 million mobile subscribers and 9.6 million IndiHome residential (B2C) subscribers,  representing 10.6% YoY growth. Meanwhile, the total number of IndiHome B2C and B2B subscribers reached 10.8 million, representing a 7.7% YoY growth.

Telkomsel acontinues to expand its coverage and enhance service quality across Indonesia. As of December 2024, the company operated 271,040 BTS, consisting of 221,290 4G BTS and 975 5G BTS, ensuring adequate capacity to meet the nation’s growing digital demands. This is reflected by double-digit growth in data traffic (data payload) throughout 2024, which increased by 13.9% YoY to 20,386,475 TB.

Positive Results from FMC Transformation

The implementation of Fixed-Mobile Convergence (FMC) continuesdto show positive results. Telkomsel successfully completed the One-Billing integration to simplify customer transactions and achieve operational milestones. This achievement further strengthens FMC capabilities and lays the foundation for the company's revenue growth. As of December 2024, convergence penetration, or the total number of integrated mobile and fixed broadband subscribers, increased to 57% from 53% in the third quarter of 2024. This demonstrates the effectiveness of Telkomsel's strategy of providing integrated digital services through bundled products.

In the Enterprise segment, the company recorded revenue of IDR 20.6 trillion, up 5.6% YoY growth, driven by the Indibiz services, satellite operations, and e-Payment solutions. Enterprise Connectivity and Digital IT Services were the largest contributors to this segment. Telkom continues to strengthen its capabilities in the Cloud, Digital IT Services, and Cybersecurity businesses, including building strategic partnerships with global technology players to deliver more innovative digital solutions.

Telkom is further reinforcing its role in accelerating digital transformation across various business sectors through the development of digital platforms for government, vertical solutions and ecosystems for the Enterprise segment, and Indibiz to reach the SME market through Telkom Regional offices throughout Indonesia. With this strategy, Telkom is committed to supporting digital transformation for B2B customers, encouraging innovation, and strengthening business competitiveness.

Furthermore, in the Wholesale and International segment, the company posted revenue of IDR 18.0 trillion, up 6.4% YoY, driven by its digital infrastructure business and growth in its international wholesale voice services business.

In the telecommunications tower business, Mitratel, a subsidiary of Telkom, recorded revenue of IDR 9.3 trillion, growing 7.2% YoY, driven by increased revenue from the tower leasing business. EBITDA and net income grew 10.2% and 4.8% YoY, respectively, with EBITDA margin rising to 82.7% and net profit margin reaching 22.6%. Mitratel also solidified its position as in the industry by adding 1,390 towers throughout 2024, bringing its total tower ownership to 39,404 units. This achievement aligns with cellular operator network expansion driven by increasing demand for data services throughout Indonesia. During the same period, Mitratel also successfully increased its tenancy ratio to 1.52x compared to 1.51x the previous year. Furthermore, Mitratel has diversified its tower locations, with 59% located outside Java and 41% within Java.

As part of the company's strategy to strengthen its business portfolio, Mitratel continues to expand its Fiber-to-the-Tower (FTTT) business. In December 2024, Mitratel took a corporate action by acquiring PT Utra Mandiri Telekomunikasi (UMT), which owns over 8,000 km of fiber optic network. In total, Mitratel added 18,518 km of fiber optic network in 2024, both organically and inorganically, bringing its total fiber optic length to 51,039 km.

Telkom continues to accelerate its corporate transformation through the 5 Bold Moves strategy, reinforcing its position as Indonesia’s leading digital telecommunications company. To achieve this, Telkom is strengthening its digital infrastructure, including developing data center capacity and capabilities. Telkom's Data Center and Cloud businesses recorded strong performance with revenue of IDR 2.3 trillion.

To meet the growing demand for digital infrastructure, Telkom had a total capacity of 38 MW and 2,420 racks across 35 data centers managed by NeutraDC, NeuCentrIX, and Telin. 30 data centers are located in Indonesia and five overseas, in Singapore, Timor Leste, and Hong Kong.

Furthermore, Telkom is also developing a Hyperscale Data Center (HDC) in Batam and expanding its existing HDC in Cikarang to meet the increasing demand for Cloud and Artificial Intelligence (AI) services. These data centers are designed to support large-scale power needs, including for AI technologies, while adhering to ESG principles through the use of renewable energy from solar panels and a combination of water-based and liquid-based cooling technologies to enhance energy efficiency. Telkom also continues to explore and open strategic partnership opportunities to accelerate the growth and development of digital infrastructure.

Telkom established PT Telkom Infrastruktur Indonesia (TIF) as a new subsidiary to optimize and leverage Telkom’s network infrastructure assets. Having successfully completed the end-to-end operational network transition in August 2024, TIF is now entering the commercialization phase to accelerate asset monetization and strengthen its position as a neutral connectivity provider through strategic partnerships.

In November 2024, TIF successfully obtained two key licenses: JARTAPLOK (Local Fixed Network) and JARTUP (Closed Fixed Network) Terrestrial. These licenses serve as the foundation for developing TIF’s service capabilities and further strengthening its ability to provide reliable connectivity solutions for industry players. Then, in December 2024, TIF formed a strategic partnership with an internet service provider (ISP) to enhance its Fiber-to-the-Home (FTTH) services. This collaboration further reinforces TIF’s role as a key catalyst in advancing Indonesia’s telecommunications sector.

Throughout 2024, Telkom invested IDR 24.5 trillion in capital expenditure (Capex), representing 16.3% of total revenue, to strengthen network infrastructure and enhance customer experience. The relatively lower Capex realization this year aligns with Telkom’s strategic initiatives for capital spending optimization. The majority of the Capex was allocated to digital connectivity development, including fiber optic network expansion, telecommunication towers, satellites, and submarine cables. Additional investments supported the development of digital platforms such as data centers, cloud services, and other digital offerings. By focusing on infrastructure enhancement and sustainable innovation, Telkom continues to drive digital transformation and improve customer experiences across Indonesia.

Telkom remains committed to integrating Environmental, Social, and Governance (ESG) principles across all business lines and subsidiaries. In November 2024, Telkom launched “GoZero – Sustainability Action by Telkom Indonesia” to further strengthen the company’s commitment to environmental responsibility, social inclusion, and good corporate governance.

The GoZero% initiative is based on three main pillars: Save Our Planet, focusing on energy efficiency; reducing our carbon footprint by 20% by 2030; and comprehensive e-waste management. Then, Empower Our People targets increasing female workforce participation and inclusion for people with disabilities, while ensuring workplace safety as a top priority. Furthermore, Elevate Our Business strengthens the transparency of ESG reporting, enhances data security, and ensures compliance with the ISO 37001 anti-bribery standard. Through GoZero%, Telkom further emphasizes its role in creating a greener, more inclusive, and more sustainable future.

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