Ex - Analyst at PE and Indonesia Brokerage Firm

Surabhi Chopra

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/5737" target="_blank" data-smartkarma-citation="entities:5737:1">Indosat Tbk PT (ISAT IJ)</a> : For 1Q17, ISAT's revenues increased 7.0% yoy from IDR 6.8 tn to IDR 7.2 tn  much slower than that of TLKM which reported double digit growth of 12.7%, despite having much higher base than ISAT. EBITDA increased 4.7% yoy from IDR 2.9 billion to IDR 3.1 billion. EBITDA Margin reached 42.5%, and was impacted by 100bps due to one off costs under-accrued in previous quarters. Net profit decreased from IDR 217 billion to IDR 174 billion and <strong>formed only 9.5% of consensus</strong>…</p>

Indosat Tbk PT (ISAT IJ) : For 1Q17, ISAT's revenues increased 7.0% yoy from IDR 6.8 tn to IDR 7.2 tn  much slower than that of TLKM which reported double digit growth of 12.7%, despite having much higher base than ISAT. EBITDA increased 4.7% yoy from IDR 2.9 billion to IDR 3.1 billion. EBITDA Margin reached 42.5%, and was impacted by 100bps due to one off costs under-accrued in previous quarters. Net profit decreased from IDR 217 billion to IDR 174 billion and formed only 9.5% of consensus…

Indosat Tbk PT

INDOSAT (ISAT IJ): 1Q17 Results