Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (TLKM) Q2 2026 earnings summary

Executive summary

• Revenue grew 3.9% YoY to Rp 75.9tn in 1H26, with operating profit at Rp 20,133bn and net profit at Rp 14,206bn, reflecting growth over the prior year.

• EBITDA increased 3.8% YoY to Rp 37.5tn with a stable margin of 49.4%.

• Cash and cash equivalents rose to Rp 54,579bn from Rp 34,228bn at year-end 2025, reflecting strong operating cash flow and prudent liquidity management.

• Transformation initiatives included business streamlining, asset monetization, and a shift to a HoldCo-OpCo model.

• The group completed the divestment of Ad Medika, resulting in a gain of Rp 550bn, and continued its share buyback program, acquiring 481 million shares for Rp 1,510bn.

Financial highlights

• Revenue grew 3.9% YoY to Rp 75,878bn, with net profit up 4.3% to Rp 14,206bn.

• Telkomsel revenue up 3.3% YoY to Rp 55.6tn; EBITDA up 8.6% YoY to Rp 26.1tn; net income up 8.3% YoY to Rp 10.4tn.

• B2C external revenue up 4.8% YoY to Rp 54.7tn, led by 12.6% YoY growth in Data, Internet & IT Services.

• Operating cash flow up 7.0% YoY to Rp 34.9tn; FCFF up 12.8% YoY to Rp 36.9tn.

• Basic earnings per share rose to Rp 107.50 from Rp 105.72 YoY.

Outlook and guidance

• FY26 revenue growth guidance: 1–3% normalized.

• Normalized EBITDA margin expected to exceed 50%.

• Capex-to-revenue ratio guidance: 17–19%.

• Most unsatisfied contract obligations as of June 30, 2026 to be recognized as revenue within the next year (Rp 10,317bn) and more than one year (Rp 5,979bn).

• The group is assessing the impact of new accounting standards effective January 2027, with no material effect anticipated.