Indonesia-based XL Axiata forecast continued revenue gains in 2023 after recording growth in Q4 fuelled by rising 4G adoption and improved ARPU.
In its earnings release, the operator predicted mid- to high-single-digit revenue growth.
President director and CEO Dian Siswarini (pictured) said data consumption is projected to increase at an annual rate of 16 per cent until 2026.
Revenue in Q4 grew 8 per cent year-on-year to IDR6.8 trillion ($448.5 million).
Blended ARPU increased 8.1 per cent, with prepaid rising 5.6 per cent to IDR38,000.
Its user base fell 1 per cent to 57.5 million, with LTE users accounting for 93 per cent compared with 85.5 per cent at end-2021.
Full-year capex dropped 9 per cent to IDR9.1 trillion. The outlay for 2023 is forecast to fall to IDR8 trillion.
The number of base stations increased 19 per cent to 144,768 with 91,632 LTE sites.
Net profit in Q4 was not disclosed, but across the full year it fell 13 per cent to IDR1.1 billion due to an 11 per cent rise in operating expenses, with interconnect and staff costs rising.Subscribe to our daily newsletter Back