Indosat Ooredoo Hutchison (Indosat or the Company, IDX: ISAT) has distributed cash dividends from the net profit of the 2022 fiscal year amounting to Rp2.061.627.746.488, or 43.6% of the net profit, equivalent to Rp255.7 per share to shareholders. This is based on the approval of the shareholders at the Annual General Meeting of Shareholders (AGM or Meeting) 2023, held at the Indosat Headquarters today.
This dividend distribution is the use of part of the Company’s net profit for the fiscal year ending December 31, 2022, which will be paid no later than June 15, 2023. The remaining net profit of the 2022 fiscal year, amounting to Rp2.661.786.822.147, is allocated to retained earnings.
The President Director and CEO of Indosat Ooredoo Hutchison, Vikram Sinha, said that Indosat’s success in the first year post-merger is the result of the hard work of employees, strategic collaboration with partners, loyalty of customers, and trust given by shareholders.
“We thank you for the unwavering support to enable Indosat to provide world-class digital telecommunications experience, connecting and empowering the Indonesian community,” he said.
Continuing its solid financial and operational performance post-merger, Indosat reported double-digit financial performance for the first quarter of 2023, which ended in April.
This achievement was driven by Indosat’s focus on executing its Go-to-Market strategy accurately. Indosat’s total revenue grew by 9.9% from the previous year (YoY) to Rp11,945.0 billion.
Indosat’s EBITDA also increased by 21.7% YoY to Rp5,329.1 billion, with an EBITDA margin of 44.6%. Indosat also recorded a current period profit attributable to the Parent Entity of Rp929.1 billion, up 621.6% YoY.
“Indosat has also completed the network integration with Multi-Operator Core Network (MOCN) technology, which was carried out in more than 46,000 sites throughout Indonesia, within one year,” he said.
This integration has increased the wider network coverage of Indosat by more than 700 districts, better indoor service quality with an additional 32% population, and faster internet experience for customers up to 2 times.
“In addition, the improved download speed and network latency of Indosat can increase customer experience by about 20% for main services such as video streaming and gaming,” he added.
In addition to dividend distribution, the overall meeting has also decided on the following agenda: approving the Company’s annual report and financial statements for the fiscal year ending December 31, 2022; approving the use of the Company’s net profit for the fiscal year ending December 31, 2022; approving the remuneration of the Company’s Board of Commissioners for 2023.
The meeting also approved the appointment of the Company’s Public Accountant for the fiscal year ending December 31, 2023, approving changes in the composition of the Board of Directors and/or Board of Commissioners of the Company, appointing Ritesh Kumar Singh and Cheung Kwok Tung (Desmond Cheung) as members of the Board of Directors, and replacing Armand Hermawan with Ahmad Zulfikar Said.
“We are committed to continuing to provide an impressive customer experience to all customers, increasing synergies for all shareholders, and providing positive benefits for businesses, industries, and the Indonesian community,” concluded Vikram.
