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Q2 2 0 0 6
ROBUST REVENUE GROWTH IN Q2 2 0 0 6
TABLE OF FACTS
Q1-05 Q2-05 H1-05* Q3-05* Q4-05* Q1-06 Q2-06 H1-06
US$/ Rp - ending rate 9,480 9,713 9,713 10,310 9,830 9,075 9,300 9,300
US$/ Rp - average rate 9,238 9,515 9,515 9,924 10,145 9,485 9,023 9,023
Penetration rate cellular (%)** 16 20 20 22 24 25 26 26
Cellular industry # subscribers (million)*** 34 44 44 48 52 56 57 57
Industry growth (%)**** - - - 70 62 63 29 29
XL market share (%) 10 10 10 12 14 15 15 15
Total # subscribers (000) 3,266 4,345 4,345 5,865 6,979 8,221 8,388 8,388
- Prepaid 3,198 4,251 4,251 5,732 6,802 7,973 8,058 8,058
- Postpaid 68 94 94 133 176 248 331 331
ARPU average (Rp 000) - - 72 - - - - 48
- Prepaid - - 66 - - - - 43
- Postpaid - - 372 - - - - 222
Capex (Rp billion) 361 699 1,060 892 1,417 1,012 1,322 2,335
- # BTS 2,499 2,977 2,977 3,620 4,324 4,886 5,606 5,606
Debt (Rp billion) 4,502 4,588 4,588 4,436 4,089 5,362 5,503 5,503
- Banks - - - 148 - - -
- Bonds 4,502 4,588 4,588 3,566 3,401 5,362 5,503 5,503
Rp Bond (Rp 1.25 trillion) 1,250 1,250 1,250 - - - -
US$ Bond (USD 350 mn & USD 250 mn) 3,318 3,400 3,400 3,609 3,441 5,445 5,580 5,580
- Floating Rate Notes (USD 70 million) - - - 722 688 - -
-Gross Revenue (Rp billion) 844 874 1,718 972 1,099 1,206 1,365 2,571
- GSM telecommunication service 613 621 1,234 698 828 901 1,016 1,918
- GSM interconnection service 208 224 432 245 238 258 282 540
- Other telecommunication services 23 29 52 29 33 47 67 113
Cost of Service (Rp billion) (147) (171) (318) (207) (205) (235) (257) (492)
- Other GSM telecommunication charges (40) (50) (90) (47) (34) (52) (52) (103)
- Interconnection charges (105) (118) (223) (156) (168) (178) (201) (380)
- Other telecommunication services cost (2) (3) (5) (4) (3) (5) (4) (9)
Net Revenue (Rp billion) 697 703 1,400 765 894 971 1,108 2,079
Opex (Rp billion) 267 279 546 312 466 399 472 871
EBITDA (Rp billion) 430 424 854 453 428 572 636 1,208
EBITDA Margin (%) 51 49 50 47 39 47 47 47
Depreciation & Amortization (Rp billion) 256 279 535 298 332 338 369 707
EBIT (Rp billion) 174 145 319 155 96 234 267 501
Financial Charges (Rp billion) (184) (213) (397) (559) 72 268 (247) 20
- Net Interest (105) (107) (212) (95) (72) (82) (92) (175)
Interest expense (109) (111) (220) (97) (83) (103) (103) (206)
Interest income 4 4 8 2 11 21 11 32
- Forex Gain/ (Loss) (75) (94) (169) (335) 142 356 (149) 207
- Others (4) (12) (16) (129) 2 (6) (6) (12)
Income/ (Loss) Before Tax (Rp billion) (9) (68) (77) (404) 168 502 20 521
Tax (Rp billion) 6 18 24 118 (53) (147) (16) (163)
Income/ (Loss) After Tax (Rp billion) (3) (50) (53) (286) 115 355 4 358
* Audited
** Excluding PSTN; Source: company estimate *** Source: various published reports
