Pt Xlsmart Telecom Sejahtera Tbk · IDX:EXCL
Pt Xlsmart Telecom Sejahtera Tbk — Q2 2025 Earnings Presentation
20 slides from Pt Xlsmart Telecom Sejahtera Tbk's earnings presentation, Aug 27, 2025
Slide 1: 2Q 2025 Results Presentation
2Q 2025 Results Presentation August 27, 2025 1
Slide 2: Disclaimer
Disclaimer The following presentation contain statements about future events and expectations that are forward-looking statements by the management of PT XLSMART Telecom Sejahtera Tbk. relating to financial trends for future periods, compared to the results for previous periods, characterised by the
Slide 3: Key Highlights
@ XLSMART Key Highlights
Slide 4: Key highlights
Key highlights Larger scale Post Merger: 2.5 months of consolidated performance post-merger Synergy on Track: Network integration progressing as planned, increased customer experience for our subscribers Modernizing our Network: Consolidation creates strong momentum to build high capacity, larger re
Slide 5: Unlocking long-term value
Unlocking long-term value The strategic vision of XLSMART merger Scale Advantage Synergy Potential Platform for Growth Maximize Scale Leaner, Smarter, Laying Foundation for Stronger Long-Term Upside • Expand network footprint • Unlock savings thru • Build capacity to expand while optimizing spectrum
Slide 6: Building value from the consolidation
Building value from the consolidation Significant progress achieved post-merger • Rapid network expansion via NR and MOCN* Technology • Integrated Managed Service and NOC • Fast-track vendor consolidation • Maintain three brands post-merger Commercial • Monetization of CX improvement • Harmonizing f
Slide 7: Integration and synergy update
Integration and synergy update Off to a good start with network integration on track Integration to complete in 8 quarters Key Priorities Progress Highlights Impact Delivered* Appointed network Better user Network integration, integration vendors experience and other key areas: IT, people, commercia
Slide 8: Network integration significantly increases coverage and improves user experience
Network integration significantly increases coverage and improves user experience Fastest National Roaming Bigger spectrum Wider coverage for 475 activation: 100% portfolio post-merger cities across Indonesia completed in 60 days BTS Count +28% 209,820 156 new cities now accessible for SF subscriber
Slide 9: Investment for the future
Investment for the future Executing a bold, strategic, capex plan to modernize our infrastructure and build a high capacity, future-ready network. Strategic investment to scale up performance Unified vendor ecosystem enables faster rollout & better cost control. Network consolidation eliminates dupl
Slide 10: Accelerating digital engagement across three brands
Accelerating digital engagement across three brands Own App Users Growth Revenue Contribution 41.4 32.1 29% 18% YoY growth 2-yr CAGR 2Q 24 2Q 25 2Q 23 2Q 24 2Q 25 Stronger user base via app unification, Higher value contributed more than 50% adoption rate from Own Apps Riding the digital momentum to
Slide 11: Financial & Operational Highlights
Financial & Operational Highlights 11
Slide 12: Enlarged subs base post-merger with higher data traffic
Enlarged subs base post-merger with higher data traffic Mobile Subscribers (Mn) +41% 91 89 +40% 85 84 84 82.6 44 44 40 38 36 58.5 58.8 43 43 38 36 37 80.7 56.9 57.1 1.6 1.8 1.9 2Q 24 1Q 25 2Q 25 2Q 24 1Q 25 2Q 25 1H 24 1H 25 Prepaid Postpaid Prepaid Postpaid Blended Traffic (PB) FBB Subs (Mn) +43% +
Slide 13: Revenue growth post merger driven by scale
Revenue growth post merger driven by scale Stronger mobile base supported revenue. EBITDA & PAT impacted by integration cost Revenue (IDR Bn) PAT (IDR Bn)* +22% -36% -32% +22% +12% 10,502 19,105 -19% 1,037 1,037 17,056 701 8,615 8,603 490 490 388 388 313 9,579 17,466 8,017 7,887 15,840 598 716 923 1
Slide 14: Normalized EBITDA and PAT
Normalized EBITDA and PAT Business fundamentals remain strong despite one-off adjustments, ongoing integration (in IDR Bn) 1Q 25 2Q 25 1H 25 Reported EBITDA 4,321 4,487 8,808 Integration costs (Opex) - 486 486 Normalized EBITDA Normalized EBITDA 4,321 4,973 9,294 and PAT are adjusted to reflect the
Slide 15: Cost base expansion after merger
Cost base expansion after merger Opex growth driven by expanded operations and integration efforts Operating Expenses (IDR Bn) Interconnection and Other Direct Expenses increased 48% +46% +27% Link Net, higher revenue as impact from merger. +40% 10,287 6,007 8,094 Labor Costs employees from merger i
Slide 16: FY25 Guidance
@ XLSMART FY 25 Guidance
Slide 17: FY25 guidance in-line with the market
FY25 guidance 1 in-line with the market Revenue growth (As reported: 20% - 30% growth*) 2 EBITDA margin Low to mid 40% 3 Capital expenditure IDR 20 Tn 25 Tn ** 4 Merger synergies US$ 100 200 Mn *** *vs legacy XL Axiata (pre-merger) 2024 performance **Include CAPEX required for network integration **
Slide 18: Thank you!
Thank you! https://www.xlsmart.co.id/ 18
Slide 19: Increase in debt and gearing due to merger consolidation
Increase in debt and gearing due to merger consolidation Free Cash Flow (IDR Bn) Capitalized Capex (IDR Bn) +35% -44% 6,477 4,145 4,813 2,331 1H 24 1H 25 1H 24 1H 25 Free Cash Flow defined as EBITDA minus Capitalized Capex Gross & Net Debt (IDR Bn) Gearing Ratios (x) 23,189 21,929 3.60 3.53 2.54 2.4
Slide 20: Borrowing profile
Borrowing profile Interest Rate Profile Maturities (IDR Tn) 22% 18.3 3.6 2.1 2.9 78% 1.4 2025 2026 2027 & beyond IDR Fixed IDR Floating 20
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