XLSMART 2025 Performance Records Double-Digit Growth After Merger

PT XLSMART Telecom Sejahtera Tbk (XLSMART) reported solid double-digit growth across key financial indicators following its merger, the company announced in Jakarta (13/02).

Total revenue rose 23% year-on-year (YoY) to IDR 42.5 trillion. Normalized EBITDA increased 13% YoY to IDR 20.1 trillion, with a margin of 47%.

Normalized net profit grew 63% YoY to IDR 3.0 trillion. Data and digital services contributed more than 90% of total revenue.

President Director & CEO Rajeev Sethi said, “We are grateful and proud of the company's achievements from the initial merger phase until the end of 2025. Amid dynamic industry challenges and consolidation, we have still achieved good results. Our merger is running successfully, and the integration stages have been completed ahead of schedule. We have also achieved our target of greater efficiency synergies, which will give us room to increase our growth margin in the coming year.”

Merger Integration Delivers Synergies and Operational Gains

The company stated that 2025 marked a historic milestone with the successful completion of the merger, delivering operational benefits and measurable synergies.

Integration and consolidation, originally targeted for completion in the first half of 2026, have produced positive results. Network performance and quality improved, directly impacting customer experience.

Customer download speeds increased by up to 83%. In the first year, the merger generated USD 250 million in synergies.

Operating expenses rose due to integration activities and expanded operations. Sales and marketing costs increased compared to the previous year, driven by higher sales commissions and promotional spending related to 5G launches and network expansion.

Infrastructure, interconnection, regulatory, and other direct costs also increased YoY as part of post-merger integration into the new entity.

Customer Base, ARPU, and Network Expansion Show Strong Momentum

By the end of 2025, total customers reached 73 million, up 24% YoY. Blended ARPU stood at IDR 39.5 thousand.

Quarterly ARPU in the fourth quarter of 2025 reached IDR 44.8 thousand, compared to IDR 38.9 thousand in the previous quarter. The company stated this reflected effective monetization strategies, tariff simplification, and improved customer experience following network integration.

The number of BTS increased 36% YoY to more than 225,000 units, with approximately 34,500 sites integrated. Service traffic grew 38% YoY to 14,566 petabytes.

5G Launch in 33 Cities Strengthens Digital Services

XLSMART launched 5G networks and services simultaneously in 33 cities and regencies across Indonesia. The expansion will continue gradually.

The company introduced three main 5G propositions: blanket city coverage, automatic 5G connectivity for compatible devices with speeds of up to 250 Mbps, and a dedicated 5G spectrum to support consistent speed and user experience.

Its flagship brands include XL Prepaid with Ultra 5G, XL Prio with Prio Ultra 5G+, AXIS with 5G Absolute Fast, and Smartfren with Smartfren 5G.

The simultaneous launch in Jakarta and Surabaya marked the start of expanded high-speed connectivity. XLSMART’s 5G network performance was recognized by the Ookla Speedtest Awards as the fastest 5G network.

Financial Position, Debt Profile, and Capital Expenditure in 2025

At the end of 2025, gross debt stood at IDR 23.7 trillion, with net debt at IDR 21.0 trillion. The net debt-to-EBITDA ratio, including finance leases, was 3.38x.

The company reported no USD-denominated debt. Of total loans, 87% carried floating interest rates and 13% carried fixed interest rates.

Free Cash Flow reached IDR 6.6 trillion. Capital expenditure totaled around IDR 11.2 trillion, primarily allocated for network integration and quality improvement.

PHOTO: XLSMART

This article was created with AI assistance.

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