Telkom Focuses on Strengthening Digital Business and Infrastructure, TSR for Shareholders Reaches 35.7 Percent
PT Telkom Indonesia (Persero) Tbk, or Telkom, closed the 2025 fiscal year with optimal results. In line with the acceleration of the company’s transformation agenda, these positive notes reflect the sustainability of value creation for shareholders.
Telkom recorded a net profit of Rp 17.8 trillion with a net profit margin of 12.1 percent. Meanwhile, the normalised net profit was Rp 22.7 trillion with a normalised net profit margin of 15.4 percent.
This achievement was derived from the company’s consolidated revenue of Rp 146.7 trillion.
The consolidated EBITDA for 2025 was recorded at Rp 72.2 trillion with an EBITDA margin of 49.2 percent. Meanwhile, the normalised EBITDA was Rp 73.2 trillion with a normalised EBITDA margin of 49.9 percent.
This reflects the market’s positive response to the execution of Telkom’s transformation strategy.
The strategy is also supported by a consistent policy of returning value to shareholders through a dividend payout ratio of 89 percent for the 2024 fiscal year payment, as well as the implementation of a share buyback programme with a maximum value of Rp 3 trillion, which is ongoing until May 2026.
Amid macroeconomic pressures and challenges faced by the telecommunications sector in recent years, Telkom has consistently adapted and transformed, both in terms of company strategy, business model, and products and services.
Telkom’s President Director, Dian Siswarini, emphasised that the execution of the transformation strategy has been the company’s main focus since 2025.
“Through the TLKM 30 strategy, Telkom is solidifying a more structured transformation direction to accelerate the realisation of its vision as a driver of a nationally competitive digital ecosystem, while creating long-term value for all stakeholders,” said Dian in a press release received by Kompas.com on Tuesday (12/5/2026).
The first pillar is Operational and Service Excellence, which serves as an effort to strengthen good corporate governance principles. This also drives sustainable organisational discipline, including a culture of excellence, efficient processes, and improved service quality to support a better customer experience.
On the second transformation pillar, the company is carrying out streamlining as a strategy to reorganise the non-core business portfolio to once again drive more optimal contributions and operational efficiency, as well as enhance competitiveness in the core business in the telecommunications and digital sectors.
The implementation of this strategy is reflected in the divestment process of AdMedika and its subsidiary, TelkoMedika, which has reached the Conditional Sale and Purchase Agreement (CSPA) stage towards full divestment by the end of the first half of 2026.
Dian explained that the full divestment of AdMedika and TelkoMedika will also contribute to an increase in the dividend stream. Several entities with similar businesses or those not aligned with the core business in the TelkomGroup ecosystem are also being streamlined.
“This initiative is aimed at improving asset utilisation and maximising return on assets (ROA), while expanding Telkom’s contribution to supporting national connectivity,” said Dian.
The separation of part of the Wholesale Fiber Connectivity business and assets to InfraNexia was marked by the signing of a conditional spin-off agreement (CSA) in December 2025, which is the first phase of the carve-out.
This step is also part of the transformation direction towards a strategic holding that is more focused on strengthening value creation, more optimal business portfolio management, and accelerating sustainable strategy execution.
The transformation includes delayering to strengthen business focus in four Operating Company (OpCo) segments, namely B2C, B2B Infrastructure, B2B ICT, and International.
As a strategic holding entity, Telkom will focus on value creation synergies and strengthening governance across segments. Meanwhile, business operations will be run in OpCo entities with more focused business lines.
“This transformation is expected to further strengthen the company’s fundamentals, harmonise business lines to avoid overlaps, and increase sustainable value creation,” said Dian.
As a follow-up to the total governance reset agenda mandated by Danantara Indonesia, Telkom is aligning accounting policies to improve the accuracy of financial reporting presentation, including ensuring that the principles used in determining the useful life of assets and asset classification are more appropriate.
In line with the implementation of these policies, the company is also restating the 2023 and 2024 financial statements.
This initiative simultaneously strengthens transparent governance practices, prudence principles, and discipline in asset management.
This initiative aligns with the implementation of the first pillar of TLKM 30, namely Operational and Service Excellence.
The B2C segment, which includes mobile and fixed broadband, remains one of the company’s main revenue contributors.
As an OpCo focused on the B2C segment, Telkomsel successfully recorded consolidated revenue for the 2025 fiscal year of Rp 109.2 trillion.
Dian said that the increasing societal need for quality digital services has driven a significant 15 percent year-on-year increase in data traffic.
“Average revenue per user (ARPU) is also moving towards positive recovery, indicating a more stable market condition starting from the second half of 2025 and expected to gradually continue to increase in line with a healthier industry competition,” explained Dian.
On the other hand, the expansion of home internet services is now being carried out more directedly by considering people’s purchasing power and ensuring the effectiveness of capital utilisation to maintain growth.