PT XL Axiata Tbk, the third largest seluler provider in Indonesia, reported its first quarter 2011 results with revenues increased by 9% YoY (year on year) to IDR4.5 trillion and a net profit of IDR756 billion with grew 26% YoY.
EBITDA reached Rp 2.4 trillion (50% YoY) while EBITDA margin remain stable at 52% by end of March 2011. In addition, the total number of subscribers increased by 21% YoY from 32.6 million in 1Q10 to 39.3 million in 1Q11.
With the increasingly popularity of mobile data service (MDS), the company expect the future revenue growth driver will be from MDS.
For 2011, XL expects to spend around Rp 5 trillion for capex of which around 1/3 will be allocated for data services/3G. By end of March’11, XL had 23,267 BTS (2G/3G).
During 1Q11, XL made debt prepayments amounting IDR900 billion as well as repayment amounting US$15.3 million using internal cash flow, hence the debt balance was reduced from IDR13.1 trillion in 1Q10 to IDR9.1 trillion in 1Q11 with net Debt / EBITDA of 0.9x.
XL’s AGMS and EGMS were held on 14 April 2011 and approved the use of IDR911.5 billion or 30% of 2010 normalized net income, equivalent to IDR107/share, for cash dividend. The dividend will be distributed to XL’s shareholders at the end of May 2011.
The AGM also accepted the resignation of YBhg Dato’ Yusof Annuar bin Yaacob as the member of Board Commissioner and appointed Dr. Muhammad Chatib Basri as a new member of Board of Commissioner and Ibu Yasmin Stamboel Wirjawan as Independent Commissioner.
EGMS approved XL’s plan to issue incentives shares in the framework of Long Term Incentives Program (LTI) 2010-2015 for the maximum of 170,160,000 shares.
The AGM also accepted the resignation of YBhg Dato’ Yusof Annuar bin Yaacob as the member of Board Commissioner and appointed Dr. Muhammad Chatib Basri as a new member of Board of Commissioner and Ibu Yasmin Stamboel Wirjawan as Independent Commissioner.
EGMS approved XL’s plan to issue incentives shares in the framework of Long Term Incentives Program (LTI) 2010-2015 for the maximum of 170,160,000 shares.
XL Axiata is 66.6% owned by Axiata Group Berhad through Axiata Investments (Indonesia) Sdn Bhd (formerly known as Indocel Holding Sdn Bhd) and Emirates Telecommunications Corporation (Etisalat) through Etisalat International Indonesia Ltd (13.3%), and public (20.1%), and is part of Axiata Group with Robi (Bangladesh), HELLO (Cambodia), Idea (India), MTCE (Iran), Celcom (Malaysia), Multinet (Pakistan), M1 (Singapore), Samart (Thailand) and Dialog (Sri Lanka), to advancing Asia.
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