Telkom's profit up 41.2%<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
State-owned telecommunications firm PT Telekomunikasi
\nIndonesia (Telkom) reported on Wednesday a 41.2 percent increase
\nin its audited consolidated net profit to Rp 4.25 trillion
\n(US$425 million) last year, up from Rp 3.01 trillion in 2000.<\/p>\n
The publicly listed company's net income per share rose to Rp
\n421.64 from Rp 298.61.<\/p>\n
Telkom said in a statement that the increase in cellular and
\ninterconnection revenues drove the higher profit.<\/p>\n
Earnings rose after the company bought a 35 percent stake in
\nTelkomsel from the state international call operator PT
\nIndonesian Satellite Corp (Indosat) in May last year, boosting
\nits ownership to 77 percent in the country's largest cellular
\ncompany.<\/p>\n
Telkom however sold its 12.72 percent stake in Telkomsel to
\nSingapore Telecommunication Ltd (Singtel) for $429 million early
\nthis month, reducing the former's stake to 65 percent and
\nincreasing the latter's interest to 35 percent.<\/p>\n
Telkom's consolidated operating revenues grew 33.2 percent to
\nRp 16.13 trillion last year, from Rp 12.11 trillion in 2000,
\nwhile its operating expenses rose by 32.4 percent to Rp 8.52
\ntrillion from Rp 6.43 trillion.<\/p>\n
An increase in operating revenues and operating expenses
\nresulted in a 34.1 percent increase in operating income to Rp
\n7.62 trillion last year from Rp 5.68 trillion in the previous
\nyear.<\/p>\n
Earning Before Interest, Taxes, Depreciation, and Amortization
\n(EBITDA) rose to 29 percent to Rp 10.44 trillion last year from
\nRp 8.10 trillion in 2000.<\/p>\n
Telkom budgeted Rp 3.6 trillion for capital expenditures last
\nyear, of which it spent some Rp 1.87 trillion. The company spent
\nRp 731.5 billion on infrastructure development, Rp 938.7 billion
\nfor phone mobile view Internet service (PMVIS), and the other Rp
\n196.4 billion was spent on supporting facilities.<\/p>\n
Total subscribers of Telkom's cellular affiliates hit 3.38
\nmillion last year, while its fixed-line subscribers rose to 7.22
\nmillion, from 6.62 million.<\/p>\n
Aside from Telkomsel, Telkom also has stakes in four other
\ncellular operators, that is Komselindo, Metrosel, Mobisel and
\nTelesera.<\/p>\n
Telkom is preparing to issue local bonds worth Rp 1 trillion
\nand international bonds worth between $100 million and $150
\nmillion to finance its investment plan for 2002-2005, including
\nbuilding backbone transmissions, and fixed-line switching
\nfacilities.<\/p>\n
Recently, Telkom signed a $63.5 million loan agreement with
\nCitibank N.A. and PT Bank Central Asia (BCA) to finance the
\ndevelopment of its transmission network on Sumatra island.<\/p>\n
It was also granted a commercial loan worth $6.95 million from
\nCitibank and export credits worth $44.4 million from two foreign
\nbanks Hermes Kreditversicherungs AG and Servizi Assicurativi del
\nCommercio Estero.<\/p>",
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