Telkom reported a 2Q10 earnings which was up 16% QoQ, but down 10% YoY. 1H10 earnings was flat from last year at Rp6tn. This is broadly in-line with expectation (1H: 46% of previous Swati's forecast, and 48% of FY consensus). Revenue went up 6% QoQ, however EBIT margin expanded to 34% due to lower operating expenses.
Operational results:
· Cellular’s net subs add in 2Q10 was 6.4m, which resulted in total subs expanded to 88.3m at the end of 1H10, a 16.2% YoY growth. This consists of 2.1m postpaid, and 86.2m prepaid customers. Market share was maintained at 47%.
· Cellular’s blended ARPU was stable at Rp43k/mo from 1Q10, but declined by 9% YoY from Rp47k in 1H09. The decline in ARPU was due to a falloff of 13% in simPATI’s ARPU from Rp48k in 1H09 to Rp42k in 1H10.
· Cellular’s MoU increased 10% QoQ to a total of 59bn min in 1H10. MoU dropped 9% YoY however. Despite the rising MoU QoQ, Voice’ RPM in 6M10 declined 3% QoQ to Rp239. On a YoY basis, RPM increased 20% YoY. Note however that RPM was once as high as Rp370 in 2008.
· Rev per SMS rose 15% YoY to Rp118.
· Fixed Line: Total flexi subs declined by 53,000 , a (-)0.3% QoQ to 15.896m. Blended ARPU dropped: (-) 4.3% QoQ, (-)27% YoY. MoU growth QoQ was flat.
Tidak ada komentar:
Posting Komentar