Perusahaan Perseroan...
IDX:TLKM
Rp
3.700,00
Rp
+
Rp70,00 (1,93%)
3.700,00
Rp
+Rp70,00 (1,93%)
End-of-day quote: 12/05/2025
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Stock Value
Configure Widget
X
Create Widget
Not an affiliate? https://growth-software.de/partnerprogramm/
Widget copied to clipboard.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Company Info
EPS Growth 5Y
3,92%
Market Cap
Rp359.589,49 B
Long-Term Debt
Rp25.518,00 B
Annual earnings
03/06/2026
Dividend
Rp216,45
Dividend Yield
5,85%
Founded
1884
Industry
Country
ISIN Number
Website
Analyst Price Target
Rp3.920,00
5.95%
Last Update: 12/06/2025
Analysts: 22
Highest Price Target Rp4.500,00
Average Price Target Rp3.920,00
Lowest Price Target Rp3.000,00
In the last five quarters, Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk’s Price Target has fallen from Rp3.906,67 to Rp3.590,23 - a -8,10% decrease. Eighteen analysts predict that Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk’s share price will increase in the coming year, reaching Rp3.920,00. This would represent an increase of 5,95%.
Top growth stocks in the communication services sector (5Y.)
What does Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk do?
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (Telkom) is a telecommunications company in Indonesia.
The company provides fixed and mobile telecommunications services and solutions, and ancillary services. The company is innovative and continues to strengthen and optimize its portfolio businesses, services, and solutions by creating strategic programs that aim to maximize synergies and active portfolio management.
In February 2024, the company launched its Merah Putih-2 satell...
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (Telkom) is a telecommunications company in Indonesia.
The company provides fixed and mobile telecommunications services and solutions, and ancillary services. The company is innovative and continues to strengthen and optimize its portfolio businesses, services, and solutions by creating strategic programs that aim to maximize synergies and active portfolio management.
In February 2024, the company launched its Merah Putih-2 satellite. In December 2024, Mitratel acquired 100% of the shares in PT Ultra Mandiri Telekomunikasi from PT PP Infrastruktur. This acquisition added 12,524 km of fiber optic network, increasing Mitratel's fiber optic network to over 59,486 km, and strengthening its fiber-to-the-tower business. Additionally, in 2024, the company signed an MoU for the construction of the Indonesia Cable Express (ICE) Cable System, NDP Batam, CLS Pluit, and Minahasa.
Strategy
The company’s long-term strategy focuses on achieving excellence in three key digital business domains: digital connectivity, digital platforms, and digital services. These efforts are designed to drive sustainable growth, unlock stakeholder value, and foster inclusive digitalization across Indonesia. The company’s core programs for implementing its strategy are as follows: strengthen its customer experience and retention through leveraging data-driven insights; and ensure business competitiveness by optimizing its business portfolio and executing its 5 bold moves initiative consistently.
The Five Bold Moves
The Five Bold Moves are as follows:
Fixed-Mobile Convergence: The company plans to continue streamlining the integration of its fixed and mobile networks to provide seamless customer experiences, regardless of their location or the device they use. Further integration is expected to improve broadband access, lower costs, increase operational efficiency, and strengthen the company’s market competitiveness.
Infrastructure: The company intends to further consolidate its infrastructure assets to increase the value of its business. In 2022, it consolidated its telecommunications towers through the IPO of Mitratel. For its fiber optic network, the company created PT Telkom Infrastruktur Indonesia (‘TIF’) at the end of 2023 as its vehicle to consolidate its infrastructure assets. The company also plans to allow external parties to access its fiber network, which is expected to create additional revenue potential.
Data Center: To meet growing regional and global data demands, the company plans to expand the capacity and capabilities of its data center business under PT Telkom Data Ekosistem (‘TDE’) and work with technology leaders to drive growth.
B2B Services: The company is working to develop its B2B subsidiaries (e.g., TelkomSigma) into providers of advanced B2B digital IT services.
Digital: The company plans to expand its digital business and seize new digital opportunities by enhancing digital capabilities in its existing business portfolios, exploring potential business models through strategic partnerships. Through PT Telkomsel Ekosistem Digital (‘TED’), the company plans to grow its digital asset business in high-demand sectors, such as health-tech, edu-tech, and mobile gaming.
Further Development of 5G Services
In 2021, the company’s majority-owned subsidiary, Telkomsel, became the first cellular operator to offer 5G services in Indonesia. The company is expanding its 5G network through the Hyper 5G initiative in a focused and gradual manner to enhance digital connectivity and support the growth of Indonesia’s digital ecosystem and economy. Since its commercial launch in 2021, Telkomsel’s Hyper 5G network has been expanding, with approximately 1,000 BTS covering 56 cities and regencies, supporting national digital transformation efforts. As an initial step, as of December 31, 2024, Telkomsel provided 5G services in Denpasar City and Badung Regency, Bali Province.
In December 2024, Telkomsel completed the expansion of its Hyper 5G network in the Greater Jakarta area, which covers strategic routes, such as the route from Soekarno-Hatta Airport to Halim Perdanakusuma Airport, the planned areas of Pantai Indah Kapuk 1 and 2, and business districts and government centers from Pondok Indah to the National Monument. In the near future, Telkomsel plans to further extend its 5G network to other key locations across Indonesia in a gradual and strategic manner. As the customer base grows and 5G device adoption increases, Telkomsel is offering various products and deals to enhance the benefits of Hyper 5G connectivity, aiming to provide faster and more affordable services in the Greater Jakarta area.
Strategic Partnerships
In 2024, the company expanded digital service offerings through strategic partnerships and collaborations. The company formed alliances with global technology companies in cloud computing to strengthen TDE’s data center business, leveraging these collaborations to drive innovations and enhance competitiveness in Indonesia and the region.
The company reinforced its digital services ecosystem through investments, such as Telkomsel’s investment in PT GoTo Gojek Tokopedia Tbk (‘GoTo’) from 2020 to 2022. This partnership, which saw Telkom gradually invest in GoTo from 2020 to 2022, has consistently generated synergistic value through enhanced connectivity, digital platforms, and services. In 2024, the company continued to work with GoTo to expand services in the GoTo ecosystem. Future collaborations with GoTo will focus on connectivity, data services, and integrating offerings with GoTo’s platforms to strengthen the digital ecosystem.
Telkomsat has collaborated with SpaceX’s Starlink since 2022 to provide backhaul services in remote Indonesian regions, supporting digital inclusion by extending connectivity to underserved areas. In May 2024, Telkomsat leveraged its partnership with Starlink by becoming the first authorized Starlink reseller in Indonesia.
In November 2023, the company partnered with KT Corp, a South Korean telecommunications company, to develop a sustainable smart city model for Nusantara, Indonesia’s planned capital, focusing on infrastructure, connectivity, and digital ecosystem development.
Business Portfolios
The company’s business portfolios are organized by business lines that are categorized into Legacy, Digital Connectivity, Digital Platform, and Digital Services. Those business lines are operated under five customer base segments (i.e., CFUs):
Mobile: The mobile segment comprises mobile broadband services, mobile digital services that include e-Health, e-Education, financial services, video on demand, music, gaming, IoT solutions, big data analytics, value-added service, digital ads, and mobile legacy services that include mobile voice and mobile SMS.
Consumer: The consumer segment comprises fixed voice services, fixed broadband services, IPTV, and related consumer digital services.
Enterprise: The enterprise segment primarily comprises ICT and digital platforms, which cover enterprise-grade connectivity services, IT services, cloud, cybersecurity, business process outsourcing, e-health, and other adjacent services.
Wholesale and International Business: The wholesale and international business segment comprises wholesale telecommunications network and traffic, international business, wholesale platform and services, telecommunications tower business, satellite, data centers, and infrastructure and network management services.
Other: The other segment comprises digital services offerings, such as digital smart platform, digital content, and e-commerce for B2B to support other segments, and property management to leverage its property assets across Indonesia.
Historically, digital connectivity has generated the largest share of the company’s total revenue.
The following is a brief overview of the company’s product portfolios:
Mobile Segment
The company’s mobile segment portfolio comprises legacy services, such as voice and SMS, alongside digital products, such as data and value-added services, executed through Telkomsel, its majority-owned subsidiary. In 2024, mobile services, particularly digital business revenue, which amounted to 69.1% of Telkomsel’s total revenues, remained the principal driver of its revenue.
Telkomsel’s prepaid mobile services, branded as ‘Telkomsel Prabayar’ (introduced in 2021) and ‘by.U’ (introduced in 2019), amounted to 95.0% of the total number of cellular subscribers as of December 31, 2024. Meanwhile, Telkomsel’s postpaid mobile services, branded as ‘Telkomsel Halo,’ represented 5.0% of the total number of cellular subscribers as of December 31, 2024. The total number of cellular subscribers remained stable, with a marginal increase of 49,000 subscribers from 159.3 million (comprising 151.8 million prepaid and 7.5 million postpaid subscribers) to 159.4 million (comprising 151.4 million prepaid and 8.0 million postpaid subscribers) as of December 31, 2024.
The company’s mobile broadband services are supported by 5G/4G/2G technology.
In addition to the company’s digital connectivity business, it established several digital service offerings within its mobile segment with a specific focus on financial services, video on demand, music, gaming, advertising, and IoT. The company’s mobile segment comprises a financial payment platform, T-Cash, which pioneered digital payments when it was introduced in 2007 by Telkomsel. In 2019, T-Cash became LinkAja under PT Fintek Karya Nusantara (‘Finarya’). As of December 31, 2024, Telkomsel owned a 24.83% equity interest in Finarya.
The company also offers on-demand video content through the MAXstream application, a platform that collaborates with partners to co-produce content with studios. MAXstream produces programs in partnership with other creators, which are then distributed either through in-house channels or other OTT platforms. The company provides music and gaming services that offer a mobile entertainment experience by targeting various consumer segments and leveraging Telkomsel’s billing system. The company has applications for music (e.g., Langit Musik) and Dunia Games, which provides a comprehensive gaming ecosystem combining media content, distribution, payment facilities, e-sports, and gaming communities to enhance customer experience.
Following Telkomsel’s investment in GoTo in November 2020 and May 2021, the two companies have strengthened their strategic partnership initiatives to provide users with new benefits and also help to accelerate the digitization of MSMEs.
GoTo has already developed a comprehensive and well-recognized digital ecosystem for users, drivers, and merchants. The company’s partnership with GoTo is multi-faceted. The company has jointly promoted products and services, such as connectivity promotions and advertising packages, and conducted co-branding activities to better service its respective customers and expand its addressable markets. For instance, the company has offered data packages and discounts designed for GoTo drivers. The company is also collaborating with GoTo to better understand the consumption habits and behaviors of users and customers in order to improve its products and solutions offerings. These initiatives to increase the number of Telkomsel users within the GoTo ecosystem include creating easy onboarding capabilities for GoTo’s MSME partners to become Telkomsel reseller partners, integrating MyTelkomsel and GoPay, collaborating on loyalty programs, and providing GoTo with a number masking service.
Telkomsel officially launched 5G services in May 2021, becoming the first cellular operator to offer 5G in Indonesia. As of 2024, Telkomsel had made 5G available by deploying 975 BTS towers at selected points in more than 56 cities in Indonesia as part of its strategy to roll out 5G through a demand-based approach for B2C and B2B segments, including in the manufacturing, infrastructure, and education sectors. The company intends to maximize the use of 5G and publicize the advantages of the 5G network to further encourage the growth of digital connectivity, digital platforms, and digital services in Indonesia, as well as the development of future technology solutions, such as AI, cloud computing, and IoT. The deployment of 5G services will be gradual, based on assessable demand and ecosystem readiness, and will be conducted with its partners.
Consumer Segment
The company’s consumer segment portfolio comprises fixed voice, fixed broadband, IPTV, and consumer digital services. The company markets these service offerings under the retail brand ‘IndiHome,’ a product that allows customers to choose one or more of such services in a bundled package.
In April 2023, in line with the company’s FMC initiative, it entered into an agreement with Telkomsel to integrate its fixed broadband and mobile broadband services into a single business entity, via the IndiHome Integration, in order to create new synergies and improve its product and service offerings, customer experience, cost efficiency, and revenue. As part of the implementation of its FMC initiative, Telkomsel also launched ‘Telkomsel One’ in July 2023.
Telkomsel is focused on maintaining the business continuity of IndiHome by optimizing synergies between fixed broadband and mobile broadband services, while pursuing revenue growth. The IndiHome Integration aims to enhance customer engagement through cross-selling, integrated content delivery, and unified customer touchpoints, while driving operational and cost efficiencies, improving customer experience, and fostering synergies to deliver more competitive product offerings. As of December 31, 2024, the company had realized synergies from content optimization, cross-selling, service integration, cost savings in CPE acquisition, and the streamlining of overlapping customer touchpoints across approximately 300 outlets.
In 2024, Telkomsel accelerated the acquisition of new IndiHome B2C customers, adding approximately 918,000 new subscribers.
Telkomsel also offers the wifi.id service to IndiHome customers, which is an add-on service that allows IndiHome customers to enjoy unlimited internet access at all wifi.id access points in Indonesia. Wifi.id stands for Indonesia Wi-Fi, the company’s wireless public internet network that provides public access to high-speed internet services and various other multimedia services.
Enterprise Segment
The company’s enterprise segment comprises mainly ICT and platform services that cover enterprise-grade connectivity services, satellite services, data center and cloud services, digital IT services, business process outsourcing, devices, and digital adjacent services.
For enterprise connectivity, the company offers fixed broadband, Wi-Fi, ethernet, and data communication services, including a SD-WAN ecosystem that enables higher performance of WANs, leased channels, such as Metro Ethernet, VPN-IP, high-capacity data network solutions providing point-to-point connection with high-capacity bandwidth, and fixed voice services, among others. The company also provides satellite services as part of its enterprise connectivity product offering in some segments, such as aviation, maritime, mining, and plantation, as well as other satellite-based services for domestic and international users while continuing its presence and support in cellular backhaul and government services.
In 2020, the company launched FLOU Cloud to foster digital growth for Indonesian startups, SMEs, large corporations, and government entities by offering services, such as cloud computing, data storage, networking, and data security. In 2022, Telkom Sigma upgraded FLOU Cloud’s capabilities and performance to increase its market presence and strengthen data safety. The company has also obtained the ISO 27000 certification in recognition of its dedication to data safety. Additionally, the company has implemented Cloud Security Alliance Security, Trust, and Assurance Registry (STAR) measures. In partnership with leading cloud service providers, the company primarily targets Indonesian customers in sectors it expects to grow, such as customers in the finance, manufacturing, government, and communications sectors, to whom it offers professional cloud management and consultancy services.
The company’s connectivity services support critical functions across various industries. The company’s ICT and industry solutions function as horizontal platforms encompassing IoT, data centers, cloud services, big data, cybersecurity, and payment systems. The company’s platforms facilitate innovation by providing state-of-the-art solutions for its customers' applications, digital marketing, finance, e-health, and entertainment, among others. For instance, the company offers payment services and big data analytics that provide information used by its customers to design more effective marketing initiatives. The company assists its customers with customer relationship management and IoT deployments, including setting up smart buildings for purposes of energy management and fleet management, backed by consolidated communication systems and enhanced IT security. The company’s digital and IT services capabilities enhance its e-health offerings, for instance, by simplifying healthcare claims processing. In 2024, the company focused on its ICT business, delivering specialized solutions for the government and the logistics, healthcare, education, financial, insurance, agriculture, and mining industries.
Wholesale and International Segment
The company’s wholesale and international business segment includes domestic and international wholesale traffic, wholesale network, wholesale digital platform and services, data centers, telecommunications tower business, and infrastructure services business.
The domestic and international wholesale traffic, wholesale network, and wholesale digital platform and services that the company offers comprise network services, data, and internet, as well as interconnection services, value-added services, voice-hubbing, A2P SMS, platforms, and solutions.
The company earns revenue principally from interconnection services that it provides to other telecommunications operators that utilize its network and infrastructure in Indonesia, both for calls that terminate at and calls that transit via the company’s network. Similarly, the company also pays interconnection fees to other telecommunications operators when it uses their networks to connect a call from its customers. Interconnection services that the company provides to other telecommunications operators comprise domestic and international interconnection services. With regards to the company’s telecommunications tower business, it leases out space to other operators to place their telecommunications equipment on these towers, for which it receives a fee. As of December 31, 2024, the company had approximately 43,825 towers, comprising approximately 39,404 towers owned by Mitratel, which purchased 997 telecommunications towers from Indosat in February 2023 and 803 telecommunications towers from PT Gametraco Tunggal in November 2023, and approximately 4,421 towers owned by Telkomsel.
The company provides managed infrastructure and network services by performing network construction and maintenance, including laying and maintaining submarine cable, and energy solutions for telecommunications infrastructure ecosystems. The company accomplishes this by leveraging existing businesses in its portfolio and developing in-house capabilities and innovative solutions. As part of the company’s infrastructure portfolio, it has developed energy management solutions. The company completed the delivery and installation of diesel power plants in the Kalimantan and Sulawesi regions in 2017. After completion of this project, the company was engaged by an SOE into 2023 to manage the maintenance of some of the diesel engines it had delivered and installed. In 2017, construction was completed for the SEA-US submarine cable which connects California to Manado, Indonesia, and by extension to the IGG submarine cable, which connects major cities in Indonesia, as well as the SEA-ME-WE 5 and SEA-US cable systems. In 2023, the company completed construction of its PATARA-2 submarine cable system connecting multiple islands across Indonesia, which enhances connectivity among the cities of Waisai, Manokwari, and Supiori. The company plans to add additional landing points for redundancy and further deploy submarine cables in the future.
In 2022, the company continued to consolidate and expand its data center capabilities, including its cloud services and marketplace services. The company began consolidating its data center business under its subsidiary, TDE, in 2021 by transferring the company’s then under-construction Cikarang HyperScale data center. In 2022, the company transferred its enterprise data center business in Sentul, Serpong, and Surabaya from Telkom Sigma. TDE continues to expand the capacity of the company’s HyperScale data center in Cikarang and has begun building a second HyperScale data center in Batam.
The company’s subsidiary, PT Telekomunikasi Indonesia International (‘Telin’), continues to strengthen its international business. Telin has developed its NeuAPIX cloud-based CPaaS services to provide small, medium, and large companies and business owners with omni-channel communication features (bots and live chats, real-time voice capabilities, SMS, emails, video calls, and messaging services). Telin also offers NeuTrafiX, a web-based public exchange platform for connecting buyers and sellers for wholesale trading of voice, SMS, and virtual numbers. Telin also manages data centers in Singapore (as a reseller), Hong Kong, and Timor-Leste. In 2023, Telin unveiled TNeX, the Telin NeXt Gen Platform, which enables businesses to connect their data centers across the globe by allowing customers to select, acquire, and monitor provisioning statuses for a range of connectivity products while granting customers the ability to instantaneously fine-tune bandwidths according to their needs. In 2024, Telin launched WABA for Business in partnership with Meta, enhancing its existing NeuAPIX CPaaS solution. WABA for Business adds more comprehensive features and solutions for both the wholesale and enterprise segments.
The company also has limited operations and/or interests in a number of jurisdictions outside Indonesia in telecommunications and data-related areas. The company’s subsidiary, Telin, manages its international operations in the following jurisdictions:
Singapore, through Telekomunikasi Indonesia International Pte. Ltd. (‘Telin Singapore’), where the company operates as an end-to-end information and communication technology provider, providing cloud and connectivity, wholesale voice services, data center, and managed services;
Hong Kong, through Telekomunikasi Indonesia International Ltd. (‘Telin Hong Kong’), where the company provides wholesale voice services, wholesale data services, retail mobile services as an MVNO, and where the company also operates a GraPARI center and a data center;
Timor-Leste, through Telekomunikasi Indonesia International S.A. (‘Telkomcel’), where the company provides mobile cellular services, enterprise solutions, wholesale and international services, and operates a data center;
Australia, through Telekomunikasi Indonesia International Pty. Ltd. (‘Telin Australia’), where the company provides enterprise solutions, wholesale and international services;
Taiwan, through Telin Taiwan Limited as an indirect subsidiary of Telin, where the company provides retail mobile services as an MVNO, digital retail services, and operates a GraPARI center;
Malaysia, through Telekomunikasi Indonesia International Sdn. Bhd. (‘Telin Malaysia’), where the company holds a majority ownership interest in a joint venture that provides international airtime services and support, wholesale voice services, enterprise solutions, as well as wholesale and international services;
The United States, through Telekomunikasi Indonesia International Inc. (‘Telin USA’), where the company provides data services, internet connectivity services (including operating Point of Presence, peering, and transit services), and wholesale voice services;
Myanmar, through a branch office, where the company provides data connectivity service;
Dubai, through a branch office, where the company provides wholesale voice services, wholesale data services, and enterprise services;
The United Kingdom, through a sales representative, where the company provides wholesale data services and enterprise services;
The Philippines, through a sales representative, where the company provides wholesale data services and enterprise services;
Vietnam, through a sales representative, where the company provides wholesale data services and enterprise services;
Canada, through a sales representative, where the company provides wholesale data services and enterprise services; and
India, through a sales representative, where the company provides wholesale data services and enterprise services.
The company regularly assesses these overseas operations, their profitability, prospects, and strategic positioning in order to optimize its portfolio structure. The company may make further investments or divest existing investments from time to time based on, such assessments. In Indonesia, the company continues to monitor the potential for further consolidation in the telecommunications tower business.
Other Segments
Digital Services
The company’s digital services portfolio primarily comprises media and edutainment services targeted to digital consumers. The company’s diverse digital portfolio is clustered into a smart platform and gives access to digital content and E-Commerce. The company also manages a venture capital fund through its subsidiary, PT Metra Digital Investama Ventura (also known as ‘MDI Ventures’) to invest in digital startups. The company’s smart platform business line consists of digital advertising, intelligent applications, big data, IoT, and financial services. The company’s financial services offering focuses on creating a digital financial ecosystem by offering digital payment solutions. For example, LinkAja is an E-Money service provided by Telkomsel that enables Telkomsel customers to perform banking activities, such as paying bills, transferring funds, and making online and offline retail payments on customers’ smartphones and/or feature phones. The comprehensive financial services offered by LinkAja are expected to further accelerate financial inclusion and foster the development of a cashless society as envisioned by the Government in its Non-Cash National Movement Program. As of December 31, 2024, Telkomsel owned a 24.83% equity interest in Finarya, and the company expects its strategic partnership with GoTo will allow it to expand its digital ecosystem, benefit from co-branding and joint promotional activities, and bring it closer to customers of digital services.
Telkomsel established TED as a holding company to provide digital services in the edu-tech, health-tech, and gaming sectors. TED intends to collaborate with Indonesian startups, investors, and stakeholders in the digital industry. As an example, TED has partnered with Agate, one of the largest game developers in Indonesia, to expand access to locally made games and thus open opportunities for local creators in Indonesia’s gaming ecosystem. In 2022, the company introduced a new brand, Leap, as an umbrella brand for all of the company’s digital transformation products and services. The company seeks to use Leap to help achieve Indonesia’s digital sovereignty by creating technological solutions through collaboration and innovation.
In 2023, the company’s subsidiary, Metranet, and Cakap have collaborated to provide digital educational content on the Metranet Platform, namely Cazbox Edu. The target market includes public and private schools from various levels across Indonesia.
The company operates in the telecommunication sector, but considering the current pace of changes, the company has to keep innovating. Therefore, the company provides an End-to-End Big Data Platform called BIGBOX, which is an analytical big data platform with end-to-end data management and analytics, designed to help organizations manage and analyze large amounts of data in various environments and various data formats, to provide insights, problem-solving, or create value for the business or organization. The company has three segments, namely PRODUCTS (end-to-end Big Data Platform to generate insights that suit clients’ operational and business needs), SOLUTIONS (helping clients turn complex data into actionable insights across various use cases in various industries), and SERVICES & SUPPORT (helping clients build data-driven organizations with expert support, training, and consulting services).
These three segments are divided into vertical products and horizontal products, where the vertical products consist of BigOne (One Data Platform to help the government unite scattered data into one data management), BigMarket (E-commerce Analytical Platform for analyzing e-commerce products), BigSosial (Social Media Analytics Platform to help monitor and analyze trends, brands, social, political, and economic issues on social media), BigView (Smart Government Dashboard that provides integrated services from various vertical applications to view regional information, regional potential, vision, and mission to the regions), BigLegal (Legal Analytic to collect all systematic legal regulations that are accurate, valid, and up-to-date), and BigVision (Video Analytics and eKYC to help provide API services related to Video Analytics and eKYC), and supported by seven horizontal products consisting of BigAction, BigSpider, BigLake, BigSearch, BigQuery, BigBuilder, and BigEnvelope.
The company’s digital content portfolio comprises music and gaming. The company manages its digital content portfolio across the Group and also manages the relevant value chains which mainly consist of sourcing content, providing the content platform, dealing with payments, and marketing. The company’s digital content portfolio focuses on providing consumers with a mobile entertainment experience. It targets different consumer segments and leverages Telkomsel’s trusted billing system to facilitate transactions. The company offers applications for music (e.g., Langit Musik for music streaming and an application for ringtones called Nada Sambung Pribadi) and games (e.g., Upoint.id and Dunia Games, which combines game content data for several games with game vouchers). The company has been developing its gaming portfolio, its E-Commerce business with a specific focus on B2B E-Commerce opportunities, Xooply, a B2B marketplace for its customers, and investing in B2B IT digital services.
Property Management
Consistent with the company’s strategy to accelerate digital ecosystem creation, the company prioritizes increasing network-related building and equipment asset utilization that expands its digital capacity. The company also constructs data centers for data-intensive areas while leveraging its sizeable property asset portfolio in markets with lower data usage through external partnerships and collaborations. In addition, the company seeks efficient space allocation for its legacy network equipment and to provide an enjoyable office experience for its employees. The company executes its leveraging initiatives and space reconditioning through its subsidiary, PT Graha Sarana Duta (‘Telkom Property’), which offers services, such as property development (planning, development, and construction of property area), property leasing (property rent and leasing), property facilities (business line engaged in retail and leasing, transportation management system), and property management (building management, mall, apartment, and security services). These services contribute to the increase in its property asset utilization and diversification of its digital ecosystem.
In 2024, the company undertook Five Bold Moves to support Telkom’s transformation in property management. The company intensified its efforts in constructing facilities designed to facilitate the growth of its data centers. This infrastructure expansion aligns with the company’s mission to speed up the digitalization across high-traffic sectors, supporting smooth services and product delivery. Expanding on the company’s insight, the company placed strategic emphasis on the external market, fostering collaborations and partnerships to broaden its impact. This outward focus allowed the company to tap into new opportunities and markets, contributing to its sustained growth. Through the company’s improvement projects to adapt to global challenges, the company continues to develop its properties to support the digital business ecosystem by delivering E-Commerce co-warehousing and cold storage collaborations. Furthermore, in the company’s dedication to environmental stewardship, the company is making efforts to enhance its services and energy management program.
In addition to leveraging the company’s idle properties through partnerships, the company incorporates its digital competence and product solutions into its offerings. For example, the company provides network connectivity or internet access to its tenants or their customers as additional amenities. These digital features contribute to the increased value of its asset offerings and help to diversify its digital ecosystem. The company also creates partnerships with digital workplace enterprises through a co-working space business initiative. In addition to generating income, the company’s property business also serves internal customers as part of its ‘group synergy projects’ by providing efficient space allocation for its network equipment and an enjoyable work environment for its employees, partners, and subsidiaries. Such property assets come in the form of buildings that function as the company’s network nodes, sales points, customer service centers, headquarters and branch offices, other businesses, functions, and land banks.
Network Infrastructure and Development
In line with the company’s vision and mission, the company classifies its network infrastructure into two categories, namely: the company’s national network infrastructure (including IT, cybersecurity, and services), which supports its Indonesia Cyber Core program, and the company’s international network infrastructure, which supports its international expansion program.
National Network
Throughout 2023 and 2024, the company further developed its Group IT infrastructure, encouraged internal digitalization initiatives, and enhanced customer services while expanding its Next Generation Network capabilities. The company sought to drive digital connectivity service innovation, fortify cybersecurity, enhance network quality, deploy Future State Architecture, optimize capital and operating expenditure, modernize its operating model, and improve talent management. The company regularly conducts software and network vulnerability assessments, and offers cybersecurity training to all employees. The company expedited its digitalization efforts, alongside the deployment of 5G technology to meet Indonesia’s demand for advanced telecommunications infrastructure.
The company’s digital business comprises digital connectivity, digital platforms, and digital services, focusing on innovations that cater to the changing requirements of technology and information services.
The company continues to promote digitalization in Indonesia through its Indonesia Cyber Core program, which comprises three main components, namely id-Service (‘id-SEV’), id-Convergence (‘id-COV’), and id-Network (‘id-NET’), which are further described below:
id-SEV: encapsulates the company’s strategy to enhance digital connectivity products, fostering innovation in digital and cybersecurity services for improved customer solutions. The company’s offerings include broadband internet, data, voice communications, and Wi-Fi for both fixed and mobile customers.
id-COV: outlines the company’s strategy to bolster its digital platform business by optimizing integration and reliability while expanding its data center facilities and cloud services. This includes developing two HyperScale data centers with capacities of approximately 75 MW each and enhancing the capacities of 26 neuCentrIX data centers nationally in parallel with its cybersecurity platform. The company has established a data governance council to strengthen data security compliance. The company’s smart platform supports digital businesses in providing various services, offering an interconnected platform via cloud management and dedicated cybersecurity platforms, big data processing, and AI innovations.
id-NET: details the company’s approach to constructing comprehensive network architecture through the adoption of next-generation technologies, such as FTTx, 5G, IODN, satellite, and re-engineered Multi Service Aggregation Networks. The company is future-proofing digital services with cloud-based network solutions (e.g., SDN/NFV, SD-WAN). The company’s initiatives prioritize expanding fiber optic reach nationally and modernizing networks by adopting new technologies to enhance network performance. For instance, the company has joined the Bifrost and SEA-ME-WE 6 submarine cable consortiums and operates the Telkom-3S, Telkom Merah Putih, and Telkom Merah Putih-2 satellites to provide ICT services to remote areas and reduce dependency on foreign operators and networks.
Cellular Network
As of December 31, 2024, the company’s subsidiary Telkomsel had the widest cellular network coverage in Indonesia, operating across GSM/DCS, GPRS, EDGE, 4G/LTE, and 5G networks with a diverse spectrum allocation, supporting technologies from GSM to 5G. In 2024, Telkomsel added a total of 23,452 new 4G BTS, along with a total of 321 additional 5G BTS. As of December 31, 2024, the network encompassed 271,040 BTS, including 2G, 4G, and 5G.
The company’s subsidiary Mitratel has acquired a significant number of telecommunications towers from Telkomsel and other companies, enhancing its infrastructure portfolio, supporting Telkomsel’s focus on digitalization, and improving the digital offering for its customers across Indonesia.
Data and Internet Network
In 2024, the company continued to improve the quality of its data network by installing additional capacity and expanding coverage. As of December 31, 2024, the company provided broadband access through fiber optic cable to more than 39 million homes. As of December 31, 2024, the company’s Metro Ethernet network had an aggregate installed capacity of 243,988 Gbps. The company uses its Metro Ethernet network both to provide broadband services throughout Indonesia and as the main link for its IndiHome broadband services, softswitches, and IMS related to voice services, video services, enterprise VPN services, and GPON broadband services related to mobile backhaul and corporate business solutions.
As of December 31, 2024, the company has extended the capacity of its internet gateway to reach an aggregate installed capacity of 9,000 Gbps, in particular to cope with expected peak surges in traffic. In 2024, the company operated CDNs with an aggregate content delivery capacity of 33,180 Gbps in collaboration with Google, Facebook, Akamai, EdgeCast, Level3, Yahoo, ChinaNet, VDMS, Conversant, Zenlayer, and OTT video content providers, such as iFlix and Catchplay+.
As of December 31, 2024, the company had 64 points of presence in 49 cities in Indonesia, including: 12 main points of presence in Batam (at Batam Center and Bukit Dangas), Jakarta (at Jatinegara and Cikupa), Surabaya (at Rungkut and Kebalen), Manado (at Manado Centrum and Manado Paniki), Makassar (at Pettarani and Balaikota), and Banjarmasin (at Banjarmasin and Ulin), and 52 primary and secondary points of presence throughout Indonesia. The company has also been developing two primary points of presence in Kendari, which are expected to commence operations in 2025.
In 2024, the company consistently deployed additional access points across Indonesia to enhance its Wi-Fi coverage and business model, while also choosing to dismantle certain access points that provided Wi-Fi services in locations where there was low utilization. Moreover, the company expanded its Wi-Fi business by offering Wi-Fi management services using ONT Premium, which allows SMEs to purchase Wi-Fi at various bandwidth levels and with various additional services. As of December 31, 2024, the company had installed a total of 376,212 access points (consisting of 106,836 managed access points, 221,000 home spots, and 48,376 ONT Premium access points).
Data Centers
As of December 31, 2024, the company operated 35 data centers both in Indonesia and overseas. Out of all data centers that the company has, 5 are located overseas with a total capacity of 18 MW, consisting of three in Singapore, one in Timor-Leste, and one in Hong Kong. The company’s neuCentrIX data centers in Indonesia had an aggregate capacity of 2,420 racks. Aside from data centers in Singapore, which have an installed capacity of 17 MW, NeutraDC in Indonesia also operates three enterprise data centers with a classification of tier 3 or tier 4, with a total IT load capacity of 16 MW and one Hyperscale Data Center with a classification of tier 3 or tier 4 (at Cikarang) with a current IT load capacity of 4 MW out of 51 MW total IT load capacity that will be built in stages.
In December 2022, TDE conducted the groundbreaking ceremony for the company’s second HyperScale data center in Batam. PT Teknologi Data Infrastruktur (‘NeutraDC Batam’) is developing a 51 MW data center on a five-hectare site at Kabil Industrial Estate, Batam. In 2025, the company signed a contract with PLN Batam to secure electrical support with a total capacity of 90 MVA for the data center. The company is also exploring renewable energy initiatives in collaboration with PLN Batam. Envisioned as a three-campus infrastructure and designed to emphasize efficiency and innovation, the first campus is expected to be operational by 2025.
In 2024, the company further expanded its neuCentrIX data center capacity and services via the deployment of three new neuCentrIX data centers. As of December 31, 2024, the company was building new neuCentrIX data centers in Indonesia that will provide carrier-neutral connectivity and multiple custom-made services for enterprise clients throughout the Asia Pacific region.
In 2024, the company successfully integrated its international data centers by transferring Telin Singapore’s data center business to NeutraDC Singapore, which is an important milestone in its journey to become a leading regional player in the data center industry. NeutraDC also continues to explore data center expansion options at the regional level.
Transmission Network
In 2024, the company focused on the reinforcement of its domestic backbone network reliability and continued developing its broadband network, which serves as the backbone for its entire network infrastructure. The company’s backbone telecommunications network consists of transmission networks, switching facilities, and core routers, which connect multiple access nodes. The transmission links between nodes and switching facilities comprise a terrestrial transmission network, in particular fiber optic, microwave, and submarine cable systems, as well as satellite transmission networks and other transmission technologies. The company took preemptive steps to reinforce the reliability of its network and limit congestion issues, particularly in urban areas. The company did so by increasing its network capacity, prioritizing sensitive areas to prevent service disruptions (e.g., certain key government agencies or ministries and key backbone connection links within the company’s network), allocating more resources to monitor its network, either from its integrated operation centers or by sending teams of technicians on the field for controlling the physical integrity of its systems and the existence of potential intrusions. The company has benefited from the enhancements to its network infrastructure and seeks to maintain the reliability of its network.
Communications Cable System
As of December 31, 2024, the company’s transmission network consisted of 28 backbone rings in Indonesia with an aggregate installed capacity of 578,050 Gbps, and its fiber optic backbone network totaled 112,743 km domestically. The company’s domestic fiber optic backbone network is supplemented by an international fiber optic backbone network totaling 64,700 km.
In 2019, the company began deployment of several submarine cable systems in order to strengthen its fiber optic backbone. The company continues to make progress on the deployment of its fiber optic backbone in eastern Indonesia. The company completed the deployment of the 1,126 km long PATARA-2 submarine cable in 2022, connecting Sarmi and Waisei. When the company’s JASUKA and IGG fiber optic cables were disconnected in the second quarter of 2022 due to an incident with an anchor, the company prioritized the repair of these two cables so that it could provide sufficient network bandwidth. In October 2023, the company completed the construction of its PATARA-2 submarine fiber optic cable system connecting across North Papua, Indonesia. In 2024, the company also completed the construction of the Labuha Obi submarine cable, and as of December 31, 2024, the company was in the process of obtaining the necessary permits to commence operations.
The company also intends to leverage Indonesia’s strategic geographic location and provide an alternative direct broadband connection between Europe, Asia, and America. The IGG cable system connects two major submarine cable systems, namely SEA-ME-WE 5 and SEA-US. The IGG cable system also connects 12 major cities within Indonesia, including Batam, Jakarta, Surabaya, and Manado, spanning a length of 5,403 km. This cable system increases the company’s domestic traffic capacity and ability to offer broadband services.
Satellites
In 2024, the company operated three satellites, Telkom-3S, Telkom Merah Putih, and the Telkom Merah Putih-2, which was successfully launched in February 2024. During 2024, the company transitioned from using TPE to Gbps as the measurement metric for satellite capacity to reflect the different technological characteristics of the company’s newest satellite.
The company controls its satellites from a main control station in Cibinong, Bogor in West Java. To promote continuity of service, the company operates a backup control station in Banjarmasin, South Kalimantan.
Additionally, the company leases capacity of 34.66 TPE from the following satellites: Apstar-5C HTS (138 E) in the amount of 32.93 TPE, Apstar-9 (142 E) in the amount of 0.21 TPE, and JCSAT 4B (124 E) in the amount of 1.26 TPE.
In 2022, Telkomsat obtained landing rights from MoCD for Starlink’s satellite constellation. This allowed Telkomsat to provide backhaul services using the Starlink network, which is expected to improve internet broadband connectivity, especially 4G cellular broadband connectivity in rural areas throughout Indonesia. In May 2024, Telkomsat leveraged its partnership with Starlink by becoming the first Authorized Starlink Reseller in Indonesia.
International Networks
Through Telin, the company continues to develop its international network infrastructure in order to support its international expansion strategy and vision to be the ‘King of Digital in the Region’. The company operates international gateways in Batam, Jakarta, and Surabaya to route outgoing and incoming calls on the company’s IDD service (‘007’ and ‘01017’). The company also operates voice gateways in Singapore and Hong Kong to offer voice services from or to any country. As of December 31, 2024, the company owned and operated an international fiber optic backbone network totaling 64,700 km.
The company is a member of multiple submarine cable consortiums, including Thailand-Indonesia-Singapore, two routes of Batam-Singapore, Dumai-Malacca, Asia-America Gateway, Southeast Asia-Japan, Southeast Asia-Middle East-Western Europe 5 (SEA-ME-WE 5), South East Asia-United States (SEA-US), and IGG, which connects major cities in Indonesia with Asia, Europe, and the US. IGG also provides an express connection between the SEA-ME-WE 5 and SEA-US cable systems.
Moreover, the company also operates and has rights of use for fiber optic infrastructure totaling 134,040 km in the aggregate under a long-term telecommunications lease agreement with other global submarine cable operators/consortiums. This includes the following submarine cables: 9,620 km of the Unity/EAC-Pacific network, 11,629 km of the FASTER network, 2,700 km of the EAC-C2C network, 2,700 km of the APCN-2 network, 6,500 km of the Asia Pacific Gateway (APG) network, 7,000 km of the Asia Submarine-cable Express (ASE)/Cahaya Malaysia network, 2,700 km of the TGN-Intra Asia (TGN-IA) network, 20,000 km of the Southeast Asia-Middle East-Western Europe 4 (SEA-ME-WE-4) network, 20,000 km of the Asia Africa Europe-1 (AAE-1) network, 8,100 km of the Bay of Bengal Gateway (BBG) network, 12,091 km of the Imewe network, 15,000 km of the Europe India Gateway (‘EIG’) network, and 6,000 km of the Hibernia Transatlantic network.
In 2020, Telin, along with the Southeast Asia-Japan Cable 2 (SJC2) consortium, initiated the deployment of 10,500 km of submarine cables laid in intra-Asia, connecting China, Japan, South Korea, Taiwan, Thailand, Vietnam, and Hong Kong SAR. As of December 31, 2024, these cables were expected to be ready for sale at the latest by the first quarter of 2025.
In 2021, Telin commenced construction of 20,000 km of submarine cable with the Bifrost Cable System consortium which will connect Singapore, Indonesia, the Philippines, Guam, and the west coast of North America.
In 2022, Telin joined the SEA-ME-WE-6 cable consortium, which is constructing a cable to connect Southeast Asia, the Middle East, and Europe. The SEA-ME-WE 6 cable will connect Singapore, Malaysia, Bangladesh, Sri Lanka, India, Pakistan, Djibouti, Saudi Arabia, Egypt, and France. This 19,200 km-long cable is expected to provide additional diversity and resilience for the significant amount of traffic between Asia and Europe. Compared with other options, the SEA-ME-WE 6 will offer one of the lowest latencies available between Southeast Asia, the Middle East, and Western Europe and will have a capacity of more than 100 terabytes per second. As of December 31, 2024, this cable was expected to be completed in 2026.
To continue its expansion in 2023, Telin commenced construction of the Indonesia Cable Express initiative (‘ICE’). The ICE initiative aims to develop seven innovative cable systems that will connect and provide low latency and direct data center-to-data center connectivity. Additionally, in 2024, Telin signed an MoU for the construction of the ICE Cable System.
To respond to high demand for connectivity services, especially between Singapore and Europe, Telin completed the acquisition of PEACE Cable Spectrum in 2024 to strengthen and diversify connectivity from Southeast Asia to Europe. Telin also acquired 1/4 fiber pairs of the Topaz Cable System, connecting Japan to the US, to meet market demand. The Topaz Cable System is expected to be ready for service by the first quarter of 2025.
Since the deployment of the SJC-2 Cable System in 2018, all submarine cables used by Telin are equipped with Open Cable Technology for efficient use of capacity. Telin maintains control over the fiber optic infrastructure, including the physical cables and the associated bandwidth, enabling it to provide guaranteed bandwidth for each member of the respective cable consortium. These submarine cables are monitored and supported 24/7 by the Telin World Hub Operation and Command Center (TOCC).
As of December 31, 2024, to support the company’s international voice and data services, Telin operated 58 points of presence throughout the world, including 26 points of presence in Asia and the Middle East (11 in Indonesia, which are used for supporting the international network, four in Singapore, four in Hong Kong, two in Kuala Lumpur, and one in each of Dili, Tokyo, Taipei, Yangon, and Dubai), 19 points of presence in Europe (one in each of London, Amsterdam, Frankfurt, Warsaw, Vienna, St. Petersburg, Bucharest, Prague, Switzerland, Milan, Manchester, Luxembourg, Brussels, Sofia, Marseille, Paris, Moscow, Helsinki, and Madrid), and 13 points of presence in the United States and Canada (one in each of Montreal and Toronto, two in Los Angeles, and one in each of Palo Alto, Ashburn, San Jose, New York, Guam, Hawaii, Seattle, San Francisco, and Atlanta).
Geographic Distribution of Revenues
International expansion has become a necessity for the company to maintain and sustain a high growth rate. The company is developing and expanding its business outside of Indonesia to broaden and diversify its market.
Marketing, Sales, and Distribution
The company has implemented a comprehensive marketing and promotional strategy to bolster its brand and increase sales, including through digital marketing and the development of its product and service distribution channels. To increase sales, the company also uses above and below-the-line marketing channels to promote its services to certain parties and communities. The company continues to place advertisements in printed and electronic media and implement marketing methods, such as point of sales broadcasting, as well as promotion and sponsorship events.
The following provides a description of the company’s marketing and promotional strategies by customer segment.
Mobile Customers
In 2024, Telkomsel continued to implement and incentivize healthier business practices in the industry through price adjustments after competing intensely on prices in the past. Major competitors also implemented price rationalization initiatives, suggesting that industry prices will remain at more sustainable levels than in recent years.
In 2024, the company also enhanced its digital lifestyle-related video, games, and music content, including by increasing the market presence of MAXstream in the video streaming industry through expanded partnerships with major content partners and original MAXstream content. The company also expanded its footprint in the mobile gaming industry through Dunia Games and expanded its presence in music streaming with Langit Musik, all with the goal of enhancing the customer experience.
In 2024, the company continued to develop Telkomsel Orbit, a home wireless internet service, as an effort to leverage the company’s strong network capacity and to cater to demand in areas where fixed broadband cannot penetrate. As of December 31, 2024, the company had 159.4 million cellular subscribers, comprising 151.4 million prepaid cellular subscribers and 8.0 million postpaid cellular subscribers.
The company continuously implements personalized offerings for mobile customers through dynamic customer segmentation and customer value management, targeting specific groups. This approach allows the company to conduct targeted marketing campaigns leveraging data analytics. At the same time, the company addresses market demand, strengthens market presence, and addresses affordability concerns by delivering affordable customer service and products to capture new customers in the mass-market segment, through the launch of Telkomsel Lite in early 2024.
The company’s focus remains on maintaining a stable subscriber base and driving ARPU resilience to help establish a solid foundation of quality subscribers and market share. This includes encouraging upgrades to higher-tier packages and enhancing digital content to attract higher-value segments over time, thereby fostering growth in customer consumption and productivity. Other strategic initiatives include network optimization, cost optimization, and the strengthening of its core broadband services.
Consumer Customers
In 2024, IndiHome remained the company’s flagship consumer product, with a strategy to accelerate fixed broadband penetration by addressing diverse segments with targeted pricing strategies. Telkomsel’s strategy to bridge the home and mobile connectivity experience sought to increase fixed broadband adoption, given the low penetration of fixed broadband services in Indonesia, against the backdrop of a nearly saturated cellular service market.
The company designs its service offerings, which span from 10 Mbps up to 300 Mbps, to deliver on value, aiming to meet the needs of and maintain affordability for its broadened segments of customers through a wide selection of customer-centric offerings, which include bundled contents. The IndiHome Integration has fostered a unified customer strategy, enhancing its ability to cross-sell and up-sell. The company offers personalized services through advanced data analytics, which enable it to refine its customer segmentation by utilizing customer data profiles to tailor offerings and pricing strategies. The company’s problem resolution is supported by an end-to-end traceable customer relationship management process, allowing it to anticipate and address issues before they negatively impact its customers.
The company’s access points provide wide coverage, with the number of fixed broadband IndiHome B2C subscribers having increased by approximately 0.4 million from the integration of its IndiHome B2C business into Telkomsel on July 1, 2023, to December 31, 2023, amounting to 8.7 million IndiHome B2C subscribers at the end of 2023. As of December 31, 2024, the company had a total of 10.8 million fixed broadband IndiHome subscribers, including 9.6 million IndiHome B2C subscribers.
Enterprise Customers
In 2024, the company refined its enterprise customers' approach by targeting high-value enterprise customers through strategic account management. This involved offering tailored solutions to deepen customer relationships.
The company’s marketing strategy for enterprise customers aims to:
Spearhead digital transformation for enterprises, including SOEs, to pursue and develop a leading bandwidth share in the digital connectivity market;
Empower SMEs with digital platforms to improve market, funding, and technology access, contributing to Indonesia’s digital transformation; and
Partner with the Government as a trusted ICT provider to support Indonesia’s key digital initiatives, such as ‘Making Indonesia 4.0’ and ‘One Data Indonesia.’
The company’s sales approach provides tailored support across various enterprise customer segments:
Enterprise account managers offer a single point of contact for large enterprises, delivering comprehensive service from relationship initiation to after-sales customer care, utilizing an application-based process for full digitalization;
Government account managers cater to the ICT needs of the Government, with support from the Government’s relationship officers to enhance service quality and foster contract renewals; and
Business account managers and tele account managers cater to the needs of SME customers, with support from third-party value-added resellers who promote Telkom’s SME products. Their efforts are supplemented by digital channels and mobile applications that incentivize initial purchases with additional products or services.
Wholesale and International Business Customers
The company’s wholesale and international business segment serves a mix of other domestic operators, service providers, digital entities, global wholesalers, carriers, and related enterprises, such as those utilizing overseas data centers and international connectivity. Additionally, through the company’s Non-Geostationary Orbit satellites, the company caters to retail customers internationally.
The company’s marketing and sales strategy for wholesale and international business customers focuses on:
Executing compelling business model strategies for voice traffic to increase sales volume, combining competitive pricing and high service quality;
Enhancing services for international connectivity and overseas data center customers by improving coverage and quality;
Offering a wide range of telecommunications tower services, including built-to-suit tower rentals, co-location, site maintenance, and related services; and
Expanding the company’s regional presence with submarine cable laying and maintenance services.
Digital Service Customers
For the company’s digital service customers, its marketing strategy focuses on strengthening and improving digital innovation, including by: enriching digital content; creating digital services with unique features; improving branding, digital platforms, operations, and customer experience; building digital business models to support Indonesia’s digital economy; leveraging the company’s assets and inventory to obtain more insight into digital services and customer experience; and growing the company’s digital services portfolio through investment in digital startups.
The company tailors its sales strategy to each particular digital business and its digital customers’ needs. The company offers customer care and channel management, including through contact centers, dedicated account management for large enterprises, websites, and social media.
The company’s digital service customers program focuses on improving IndiHome services. For example, the company promotes the digital touchpoint for IndiHome’s customers, which also offers Disney+ Hotstar in a starter bundle package, Indibox as a source of value-added services (e.g., video content, games, and certain Google applications), GameQoo as a cloud gaming service, and also IndiHome Smart as an IoT home service. Customers can enjoy these value-added services by subscribing and paying an additional price.
Distribution Channels
The company’s primary distribution channels for products and services in 2024 included:
Walk-in and mobile customer service points, such as Plasa Telkom Digital outlets and GraPARI centers, which offered comprehensive Telkom and Telkomsel services ranging from billing to customer care. As of December 31, 2024, these included 486 GraPARI centers across Indonesia, some of which provide services for both Telkom and Telkomsel, and several GraPARI centers operate 24/7;
Authorized dealers and modern retail channels distributed Telkomsel products, such as starter packs and prepaid top-up vouchers across Indonesia. A shift to modern retail channels was noted, with consumers preferring online transactions over physical stores post-COVID-19;
Partnership stores extended the company’s reach through various third-party marketing outlets, including electronics stores and bank ATMs;
Contact centers supported customer access to the company’s services around the clock, with facilities in key Indonesian cities;
Specialized teams for account management and sales provided tailored solutions to large enterprises, government agencies, and wholesale customers, enhancing business relationships and technical consultation;
Channel partners, as third-party value-added resellers, met the needs of enterprise customers and facilitated sales of retail packages at events;
Digital touchpoints provided customer service and account management through digital platforms, such as MyTelkomsel, MyTEnS for enterprise customers, MyIndibiz for SMEs, and MyCarrier for wholesale customers, which are equipped with interactive features and digital assistance;
The company’s websites, www.telkom.co.id, www.telkomsel.com, www.telin.net, and www.indihome.co.id offered e-services, such as billing and support;
Social media and instant messaging platforms, such as Facebook, Instagram, and WhatsApp provided product interaction and support, such as via the company’s AI chatbot Veronika, which is powered by Microsoft Azure OpenAI; and
LinkAja, the company’s E-Money service, allowed customers to conduct transactions and service purchases digitally.
Licensing
To provide national telecommunications services, the company has product and service licenses that are consistent with applicable laws, regulations, and decrees.
Cellular
Telkomsel holds licenses to operate a nationwide mobile cellular telephone network using 15 MHz of spectrum allocation in the 800/900 MHz frequency bands, 22.5 MHz of spectrum allocation in the 1.8 GHz frequency band, 20 MHz of spectrum allocation in the 2.1 GHz frequency band, and up to (depending on the region) 50 MHz additional spectrum in the 2.3 GHz frequency band, together won at auctions in October 2017, May 2021, and November 2022, as well as gained from PT Berca Indonesia in November 2022. The licenses do not have set expiry dates, but they are evaluated every 10 years. In addition, Telkomsel holds permits and licenses from, and registrations with certain local governments and/or government agencies, primarily in connection with its operations in such regions, the properties it owns, and/or the construction and use of its BTS.
Fixed Network and Basic Telephony Services
The company has the following licenses to operate fixed local networks, fixed long-distance direct line networks, fixed international call networks, and fixed closed networks:
MoCD Decree No. 073/TEL.01.02/2021 (on licenses to operate fixed long distance direct line);
MoCD Decree No. 094/TEL.01.02/2021 (on licenses to operate fixed closed networks);
MoCD Decree No. 082/TEL.01.02/2021 (on licenses to operate fixed international networks); and
MoCD Decree No. 095/TEL.01.02/2021 (on licenses to operate circuit switched based local fixed line networks).
These licenses do not have set expiry dates, but they are evaluated every five years.
International Calls
The company has a license to operate a fixed network to provide international call services pursuant to MoCD Decree No. 082/TEL.01.02/2021.
The company has a license to operate a fixed closed network pursuant to MoCD Decree No. 094/TEL.01.02/2021. This license allows the company to lease installed fixed closed network to telecommunications network and service operators, among others, and to provide an international telecommunications transmission facility through a SCCS directly to Indonesia for overseas telecommunications operators.
According to MoCD Regulation No. 5/2021, overseas telecommunications operators who wish to provide international telecommunications facilities through the SCCS directly to Indonesia are required to set up a partnership with a fixed network of international call services or closed fixed network provider. In line with MoCD Regulation No. 5/2021, the international telecommunications transmission facilities provided through SCCS are operated by the company on the basis of landing rights it holds within Indonesia and that are attached to the company’s license to operate fixed network of international call services.
DGPIO Decree No. 93 of 2016 on Limited Fixed Network Licenses granted the company’s subsidiary Telin a license to operate a fixed closed line network, which enables Telin to provide international infrastructure services. Separately, Telin secured landing rights in Indonesia from the DGPIO to provide international telecommunications transmission facilities through the Submarine Cable System (‘SCS’).
The foregoing licenses do not have set expiry dates, but they are evaluated every five years.
IDD Services
The company has a license to provide IDD services under MoCD Decree No. 082/TEL.01.02/2021. The company offers IDD fixed line services to customers using the ‘007’ IDD access code.
VoIP
The company is licensed to provide internet telephony services for public utilization for commercial use as provided under DGPIO Decree No. 127 of 2016 (on internet telephony services for public utilization). Telkomsel is also licensed to provide public VoIP services based on DGPIO Decree No. 65 of 2015 (internet telephony services for public utilization). These licenses do not have set expiry dates, but they are evaluated every five years.
ISP
The company is licensed as an ISP under MoCD Decree No. 2176 of 2016 (on internet access services). Telkomsel is also licensed to provide multimedia internet access services with nationwide coverage under DGPIO Decree No. 19 of 2016 (on internet access services). These licenses do not have set expiry dates, but they are evaluated every five years.
Internet Interconnection Service
The company holds a license to provide internet interconnection services pursuant to MoCD Decree No. 1004 of 2018 on Internet Interconnection Service (Network Access Points). This license does not have a set expiry date, but it is evaluated every five years.
Data Communication System (‘SISKOMDAT’)
The company has a license to provide data communication system services pursuant to MoCD Decree No. 046/KEP/M.KOMINFO/02/2020 (on data communication system services). This license does not have a set expiry date, but it is evaluated every five years.
Payment Method Using E-Money
Following the implementation of BI’s regulations applicable to APMK and E-Money businesses since 2009, BI confirmed the company’s status as an issuer of E-Money in 2018. The company operates its E-Money business under the brand name ‘t-money.’ The company, through Telkomsel, also operates its E-Money business under the brand name ‘LinkAja.’ With the issuance of BI Circular Letter No. 9/9/DASP, Telkomsel is also permitted to conduct APMK activities and offers Tunai prepaid cards. These permits do not have set expiry dates so long as the company and Telkomsel continue to conduct the relevant businesses in compliance with applicable regulations, and the Government does not amend or revoke such permits. In addition, BI regulations governing E-Money companies in Indonesia have multiple requirements for BI license holders, such as Telkomsel, including certain restrictions on shareholding and corporate governance, as well as risk management and information system capability requirements.
In the midst of digital wallet business competition, LinkAja has a business strategy to not only serve consumers under the B2C business model but also provide business solution services under the B2B business model. LinkAja’s business solution service provides various features, such as fund disbursement, cash collection, digital payments through QRIS, merchant applications, and others, digital ecosystems, and advertising services. LinkAja targets MSMEs and corporations in various industries. LinkAja also collaborates with Bank Syariah Indonesia to provide sharia-compliant digital transaction services. It also works with Islamic organizations, communities, and MSMEs to expand sharia-compliant digital partnerships. In addition, LinkAja partners with philanthropic institutions and develops digital features, including recurring payments and auto-debit solutions, to promote financial inclusion in Indonesia.
Administration of Source of Fund and Remittance Services
The company and Telkomsel have licenses to operate as money transfer service providers pursuant to BI License No. 23/587/DKSP/Srt/B. These permits do not have set expiry dates so long as the company and Telkomsel continue to conduct the relevant businesses in compliance with applicable regulations, and the Government does not amend or revoke such permits. BI re-evaluates the license every three years from the date the license is issued, and BI also retains the authority to initiate an additional evaluation at any time.
IPTV
Since March 5, 2024, after effecting the transfer of the IndiHome business segment into Telkomsel, Telkom no longer holds an IPTV telecommunications service operation license as it is no longer listed in Telkom’s NIB.
However, the company is able to continue to provide IPTV services by reselling Telkomsel’s IPTV products, which Telkomsel offers through its IPTV telecommunications service operation license, obtained on May 27, 2023.
Construction Services Business
Certain of the company’s subsidiaries possess SBUJKs, thereby permitting the company to provide national telecommunications-related construction services, which primarily consist of installing telecommunications equipment and wiring buildings.
On February 15, 2023, the company obtained an SBUJK for the construction of central telecommunications infrastructure, such as stations for voice connection.
Content Service Provider
The company obtained a content service provider license in 2017 pursuant to MoCD Decree No. 1040 of 2017 on Content Service Providers dated May 16, 2017. While such license has no set expiry date, MoCD re-evaluates all content service provider licenses every five years.
Competition
The company’s cellular services business, operated through its majority-owned subsidiary ‘Telkomsel,’ faces competition primarily from IOH and XL Axiata.
Fixed Broadband Services
The company faces competition in the fixed broadband market from major providers, such as XL Home, IconNet, Biznet Home, and MyRepublic, with IconNet in second place behind the company in terms of customer base.
Data Centers
Companies, such as Equinix/NTT Communication, EDGE Connex, Biznet, DCI Indonesia, Elitery, Nex-center/CBN Nusantara, Pure DC, and BDx/IOH provide data center solutions in Indonesia and compete with the company. In the Asia Pacific region, the company’s subsidiary, Telin, competes with other major data center providers in Hong Kong and Timor Leste.
International Direct Dialing (IDD)
The company competes in traditional IDD services (non-VoIP) in Indonesia, primarily with IOH. However, due to the development of digital technology, the company’s IDD services also face competition from VoIP and other OTT voice services, such as Telegram, FaceTime (iPhone), and WhatsApp.
Tower
Within the tower market, the company faces competition from several other companies, including PT Tower Bersama Infrastructure Tbk, PT Profesional Telekomunikasi Indonesia, and PT Solusi Tunas Pratama Tbk.
History
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk was founded in 1884.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Questions and Answers
Which sectors generate sales and which are the top 3 markets?
Revenue distribution by sectors:
Telecommunication services: approx. 60%
Broadband internet services: approx. 25%
IT services and digital services: approx. 15%
TOP 3 markets:
Indonesia: approx. 80%
Southeast Asia (excluding Indonesia): approx. 10%
International (outside Southeast Asia): approx. 1...
Revenue distribution by sectors:
- Telecommunication services: approx. 60%
- Broadband internet services: approx. 25%
- IT services and digital services: approx. 15%
TOP 3 markets:
- Indonesia: approx. 80%
- Southeast Asia (excluding Indonesia): approx. 10%
- International (outside Southeast Asia): approx. 10%
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, known as Telkom Indonesia, generates the majority of its revenue from the telecommunications sector, particularly through mobile and landline offerings. Broadband internet services and IT services complement the portfolio and also contribute significantly to the revenue.
The Indonesian market is by far the largest and most important for the company, attributed to its strong market presence and comprehensive infrastructure in the home country. The expansion into other Southeast Asian countries and international markets demonstrates the company's efforts to increase its reach and market share outside Indonesia.
At which locations are the company’s products manufactured?
Production Sites: Indonesia
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, known as Telkom Indonesia, is a leading telecommunications company in Indonesia. The company mainly produces its products and services within Indonesia.
Telkom Indonesia operates an extensive network of telec...
Production Sites: Indonesia
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, known as Telkom Indonesia, is a leading telecommunications company in Indonesia. The company mainly produces its products and services within Indonesia.
Telkom Indonesia operates an extensive network of telecommunications infrastructure throughout the country, including fiber optic cables and satellite communication, to deliver its services. In this context, production refers more to the provision of telecommunications services rather than physical products.
What strategy does Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk pursue for future growth?
Strategic Growth Areas:
Digital Transformation and Infrastructure Investments
Expansion of Services in the Information and Communication Technology (ICT) Sector
International Expansion and Partnerships
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (Telkom Indonesia) is focusing on...
Strategic Growth Areas:
- Digital Transformation and Infrastructure Investments
- Expansion of Services in the Information and Communication Technology (ICT) Sector
- International Expansion and Partnerships
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (Telkom Indonesia) is focusing on a comprehensive strategy for digital transformation to secure future growth. The company is heavily investing in expanding its digital infrastructure, including the extension of fiber optic networks and 5G technologies to meet the increasing demand for high-speed internet and digital services.
Another key focus is on expanding offerings in the Information and Communication Technology (ICT) sector. Telkom Indonesia is developing new services and products tailored to the needs of businesses and individual customers, such as cloud services, data centers, and IoT solutions.
Additionally, the company is pursuing a strategy of international expansion and actively seeking partnerships and joint ventures to strengthen its presence outside of Indonesia. These measures aim to tap into new markets and leverage growth potential in the Southeast Asian region and beyond.
Which raw materials are imported and from which countries?
Main Imported Materials: Telecommunications equipment, fiber optic cables, electronic components
Main Supplier Countries: China, South Korea, Japan
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, also known as Telkom Indonesia, mainly imports telecommunications equipment and fiber op...
Main Imported Materials: Telecommunications equipment, fiber optic cables, electronic components
Main Supplier Countries: China, South Korea, Japan
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, also known as Telkom Indonesia, mainly imports telecommunications equipment and fiber optic cables. These materials are essential for the expansion and maintenance of their network infrastructure.
China is one of the largest suppliers of telecommunications equipment and electronic components, thanks to its strong production capacity and cost-effective manufacturing. South Korea and Japan are also important partners, especially for high-quality electronic components and specialized technologies needed in the telecommunications industry.
These imports are crucial to ensure the technological competitiveness of Telkom Indonesia and to continuously improve their services.
How strong is the company’s competitive advantage?
Market share in Indonesia: approximately 60% (2023)
Revenue growth: 7.5% (2023)
EBITDA margin: 50% (2023)
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, known as Telkom Indonesia, has a significant competitive advantage in Indonesia. With a market share of around 60%, the company do...
Market share in Indonesia: approximately 60% (2023)
Revenue growth: 7.5% (2023)
EBITDA margin: 50% (2023)
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, known as Telkom Indonesia, has a significant competitive advantage in Indonesia. With a market share of around 60%, the company dominates the country's telecommunications market.
The revenue growth of 7.5% in 2023 shows that the company is able to continuously increase its income, indicating a strong customer base and effective business practices.
The high EBITDA margin of 50% highlights the company's efficiency compared to many global telecommunications providers. This margin enables Telkom Indonesia to achieve significant profits and invest in new technologies and services to maintain its market leadership.
Additionally, the company benefits from government support and an extensive network that is difficult for new market entrants to replicate. Together, these factors give Telkom Indonesia a strong and sustainable competitive advantage.
What is the share of institutional investors and insider buying/selling?
Institutional Investor Share: Approx. 60% (2025, estimated)
Insider Buys/Sells: No significant transactions in the last year (2024)
The institutional investor share in PT Telekomunikasi Indonesia Tbk is around 60%, indicating the trust of large investors in the company's long-term stability and grow...
Institutional Investor Share: Approx. 60% (2025, estimated)
Insider Buys/Sells: No significant transactions in the last year (2024)
The institutional investor share in PT Telekomunikasi Indonesia Tbk is around 60%, indicating the trust of large investors in the company's long-term stability and growth potential. These investors include both local and international funds investing in the Indonesian market.
In 2024, there were no significant insider transactions, suggesting that the management and other insiders are currently not making significant changes to their stake in the company. This could be seen as a sign of stability and confidence in the current corporate strategy.
What percentage market share does Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk have?
Market share of Telekomunikasi Indonesia (TLKM): approx. 50% (2025, estimated)
Main competitors and their market shares:
Indosat Ooredoo Hutchison: approx. 20%
XL Axiata: approx. 15%
Smartfren Telecom: approx. 10%
Tri Indonesia: approx. 3%
Link Net: approx. 2%
Moat of Telekomunikasi Indonesia:
Tel...
Market share of Telekomunikasi Indonesia (TLKM): approx. 50% (2025, estimated)
Main competitors and their market shares:
- Indosat Ooredoo Hutchison: approx. 20%
- XL Axiata: approx. 15%
- Smartfren Telecom: approx. 10%
- Tri Indonesia: approx. 3%
- Link Net: approx. 2%
Moat of Telekomunikasi Indonesia:
Telekomunikasi Indonesia has a significant moat characterized by several factors. Firstly, the company possesses the largest infrastructure in Indonesia's telecommunications sector, including an extensive fiber optic network and numerous mobile phone towers. This physical infrastructure is costly and time-consuming to replicate, providing a significant competitive advantage.
Secondly, TLKM benefits from its strong brand awareness and customer base. With a wide range of services spanning from mobile to landline to internet services, the company can offer comprehensive solutions that foster customer loyalty.
In comparison, competitors also have their strengths, such as specialized services or regional dominance, but not the same reach and infrastructure as TLKM. Companies like Indosat Ooredoo Hutchison and XL Axiata are trying to strengthen their position through mergers and strategic partnerships, but building a comparable moat requires significant investments and time.
Overall, Telekomunikasi Indonesia remains the dominant player in the market, supported by a moat based on its infrastructure, brand strength, and comprehensive service portfolio.
Is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk stock currently a good investment?
Revenue Growth: 8.5% (2024)
Net Income Growth: 10.2% (2024)
Market Share in the Telecommunications Sector of Indonesia: 60% (2024)
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, also known as Telkom Indonesia, recorded a solid revenue growth of 8.5% in 2024. This is an indicator of...
Revenue Growth: 8.5% (2024) Net Income Growth: 10.2% (2024) Market Share in the Telecommunications Sector of Indonesia: 60% (2024)
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, also known as Telkom Indonesia, recorded a solid revenue growth of 8.5% in 2024. This is an indicator of the strong demand for telecommunications services in Indonesia, one of the fastest-growing markets in Asia.
The company was also able to increase its net income by 10.2%, attributed to efficient cost controls and successful implementation of growth strategies. Telkom Indonesia holds a dominant market share of 60% in the Indonesian telecommunications sector, highlighting its market leadership and competitiveness.
Given these positive financial developments and strong market position, Telkom Indonesia's stock could present an attractive investment opportunity. However, potential investors should also consider macroeconomic factors and the overall market trends in Indonesia before making a final decision.
Does Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk pay a dividend – and how reliable is the payout?
Dividend Yield: 4.5% (estimated for 2025)
Dividend History: Continuous payout over the last 5 years
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLKM) is known for its reliable dividend policy. The company has consistently distributed dividends to its shareholders in recent year...
Dividend Yield: 4.5% (estimated for 2025)
Dividend History: Continuous payout over the last 5 years
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLKM) is known for its reliable dividend policy. The company has consistently distributed dividends to its shareholders in recent years. The estimated dividend yield for 2025 is around 4.5%, which is considered attractive compared to other companies in the telecommunications industry.
The reliability of the payout is supported by TLKM's stable financial performance and strong market position. The company has proven in the past that it is capable of paying dividends even in economically challenging times. Analysts expect TLKM to maintain a reliable dividend policy in the coming years as well.
Investors have access to:
In-depth profiles and analysis for 50.000+ public companies
Real-time analyst ratings, earnings data, and more
Our ratings and market updates newsletter
Become a more intelligent investor
Fundamental analysis made easy for over 50.000 companies
Stock added to your portfolio . To add it to another portfolio, click here.
