Indosat Ooredoo Hutchison (IOH) has released its financial results for year ended December 31, 2024. The company’s total revenue increased 9.1 per cent year-on-year (YoY) to IDR 55.9 trillion, driven by the improved quality of consumer and enterprise customers and positive contributions from all business lines. Cellular revenue grew by 7.5 per cent YoY due to increased data and interconnection revenue. Meanwhile, multimedia, data communication, and internet (MIDI) revenue significantly rose by 23.4 per cent YoY, supported by increased revenue from IT services.
Company’s earnings before interest, tax, depreciation and amortisation (EBITDA) grew faster than revenue, rising by 10.2 per cent YoY to IDR 26.4 trillion, with an EBITDA margin of 47.2 per cent, underscoring IOH’s efficiency in converting revenue into earnings. Normalised profit for the period attributable to owners of the parent rose 38.1 per cent, reached IDR 4.916 trillion, while reported profit for the period attributable to owners of the parent rose by nine per cent to IDR 4.910 trillion, reinforcing company’s financial health and ability to deliver sustainable returns to stakeholders.
Throughout 2024, the company’s data traffic saw a remarkable 12.2 per cent YoY increase, reflecting the growing demand for IOH’s services. To support this surge, the company expanded its network infrastructure, increasing the number of 4G base transceiver stations (BTS) to 196,000, ensuring a seamless and superior customer experience. This network enhancement significantly improved service quality for IOH’s customers across its consumer brands, IM3 and Tri, contributing to a 6.6 per cent rise in mobile average revenue per user (ARPU) to nearly IDR 40,000.
Commenting on the results, Vikram Sinha, president director and chief executive officer, IOH, said, “2024 was a challenging year, despite this we managed to secure a strong performance as a commitment to continue delivering value to our stakeholders. This strong financial and operational performance also underscores IOH’s commitment to continuously drive the advancement in the telecommunications industry ecosystem in Indonesia.”
Further, in the final quarter of 2024, IOH, through its IM3 brand, officially relaunched its post-paid service with a new identity: IM3 PLATINUM. This offering pioneered the integration of artificial intelligence (AI) into telecommunications, blending AI-driven intelligence with personalised human interaction to deliver the platinum experience. Under the concept of ‘Simple, Next Level,’ IM3 PLATINUM is designed for customers ready to embrace the next stage in their personal and professional growth, offering an intuitive and seamless digital experience powered by AI.
Beyond redefining customer experience, IOH is embedding AI into its network operations to ensure superior connectivity and service quality across Indonesia. As part of this transformation, IOH announced a strategic partnership with Nokia to expand its 4G and 5G networks, leveraging AI-driven optimisation to enhance coverage and efficiency. Through Nokia’s multiband radios and baseband solutions, IOH aims to provide smarter, more adaptive networks, reinforcing its commitment to using cutting-edge AI technology to connect and empower Indonesians.
Furthermore, in collaboration with UiPath, IOH is empowering 100,000 Indonesians with enterprise automation skills by 2027, equipping them with the tools needed to thrive in an AI-powered economy.
This AI-driven evolution is backed by significant investment. In 2024, IOH’s capital expenditure totalled IDR 9.937 trillion with 82.7 per cent allocated to cellular network enhancements to support the growing demand for AI-powered digital services. The remaining capital expenditure was directed toward MIDI and IT.
Sinha further added, “By embedding AI across our operations and fostering collaborations rooted in the spirit of mutual cooperation, we are accelerating towards IOH’s larger purpose of empowering Indonesia.”
