Effects of the Merger on XLSmart
Jakarta, VIVA — XLSmart has announced its full-year performance results for the post-merger period, delivering solid outcomes with double-digit growth.
In the final period of 2025, the company achieved total revenue of Rp42.5 trillion, growing 23 per cent compared with the same period the previous year (YoY).
Normalised net profit (normalised PAT) grew 63 per cent YoY, reaching Rp3 trillion. Meanwhile, the contribution of data and digital service revenue to total company revenue exceeded 90 per cent.
“The merger we undertook has been successful and the integration stages were completed faster than planned. We also achieved greater efficiency synergy targets than expected,” said XLSmart President Director and Chief Executive Rajeev Sethi on Wednesday, 18 February 2026.
XLSmart also succeeded in boosting revenue growth and increasing ARPU (average revenue per user) growth, accompanied by improvements in customer experience.
At the end of last year, XLSmart’s total subscriber base reached 73 million with a blended ARPU of Rp39,500. On a quarterly basis, ARPU in the fourth quarter of 2025 reached Rp44,800, an increase from the previous quarter’s figure of just Rp38,900.
This improvement reflects the effectiveness of the monetisation strategy, product and tariff simplification, and enhanced customer experience resulting from efficient network integration.
On the operational cost side, there was an increase in expenses as a consequence of the integration process and expanded post-merger operations.
Sales and marketing expenses also rose compared with the same period the previous year, driven by higher sales commissions and increased advertising and promotional costs related to the 5G launch and network expansion.
Meanwhile, several other cost components also increased year-on-year, including infrastructure costs, interconnection charges and other direct expenditures, as well as regulatory costs.
“Overall, operational costs at the end of 2025 increased in line with the emergence of costs directly related to post-merger integration into the new XLSmart entity,” Rajeev explained. On the financial side, the merger successfully realised synergies of US$250 million (Rp4.2 trillion) in its first year.
More importantly, XLSmart was able to maintain service stability and sustain business growth amid this major transformation, demonstrating operational resilience and a commitment to delivering sustainable value for all stakeholders.