TLKM Sees Sluggish Performance in Saturated Market

Despite Telkom Indonesia’s performance having been projected to stagnate in the next three years, analysts remain bullish on TLKM.

Editorial Team

27 Mar 2024 - 20.54
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TLKM Sees Sluggish Performance in Saturated Market

Illustration - Telkom tower.

Bisnis, JAKARTA — PT Telkom Indonesia, or TLKM, faces an uphill battle to see notable performance growth in the coming years amid intense competition in the telecommunications sector.

Telkom last achieved double-digit revenue growth of over 10 percent back in 2017. At the time, its revenue increased by 10.25 percent year-on-year (YoY) to IDR128 trillion, while its net profit rose by 14.43 percent YoY to IDR22 trillion.

However, since then, the company's performance has been somewhat lackluster. In 2018, its revenue only increased by 1.97 percent YoY to IDR130.8 trillion, while its net profit dipped by 18.57 percent YoY to IDR18 trillion. Its revenue has never grown by more than 5 percent since then.

Last year, Telkom earned revenue amounting to IDR149 trillion, only rising by 1.30 percent YoY, while its net profit showed a notable rise of 18.34 percent YoY to IDR24.6 trillion. It’s worth noting, however, that the company’s net profit declined by -16.18 percent YoY in the previous year. Hence, Telkom’s profit growth last year does not amount to much in the bigger picture. Additionally, TLKM's net profit last year was still lower than its 2021 net profit of IDR24.76 trillion.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yusuf Waluyo Jati
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TLKM Sees Sluggish Performance in Saturated Market

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