Profits of the third-largest cellular services provider in Indonesia plunged 54 percent (year-on-year) to IDR 670 billion (USD $58.3 million) in the first quarter of 2013. In order to boost and expand its business, XL Axiata decided to acquire Axis Telekom Indonesia, a national GSM mobile operator, for the price of USD $865 million in September 2013.

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XL Axiata's Operational Highlights:

    2008   2009   2010   2011   2012
Number of Cellular Subscribers
  26.0   31.4   40.4   46.4   45.8
 – prepaid
  25.6   31.1   40.1   46.1   45.4
 – postpaid    0.4    0.4    0.3    0.3    0.4

in millions
Source: XL Axiata, Annual Report 2012


XL Axiata's Financial Highlights:

      2008     2009     2010     2011    2012
Gross Revenue   12,156   13,880   17,236   18,468   21,278
Operating Expenses
   6,930    7,501    7,771    8,912   11,224
EBITDA    5,132    6,205    9,287    9,348    9,745
Income before Tax (loss)
    (69)    2,363    3,868    3,865    3,751
Net Profit (loss)
    (15)    1,709    2,891    2,830    2,744
Total Assets   28,393   27,380   27,251   31,171   35,456
Total Liabilities   24,085   18,577   15,536   17,478   20,086
Earnings per Share (loss)¹
     (2)      237      340      332      324
Dividend per Share¹        -        -       107   129.88      135

in billion IDR rupiah, except stated otherwise
¹ in IDR rupiah
Source: XL Axiata, Annual Report 2012


Future Projection XL Axiata's Financial Highlights:

      2012    2013F    2014F    2015F
Gross Revenue    21,278    22,077    23,877    25,526
EBIT     4,679     3,635     4,233     4,460
Net Profit
    2,744     2,175     2,474     2,661
Earnings per Share¹
      324       255       290       312
P/E Ratio (x)      13.5      17.2      15.1      14.0

in billion IDR rupiah, except stated otherwise
¹ in IDR rupiah
Source: Investor Daily

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