PT XLSMART Telecom Sejahtera Tbk (XLSMART) recorded revenue of IDR 24.03 trillion in the first half of 2026, an increase of 26% year-on-year (YoY), as profitability, network expansion, and post-merger synergies strengthened its business performance (12/08).

Normalized EBITDA rose 19% YoY to IDR 11.05 trillion, with a normalized EBITDA margin of 46%. Normalized net income (Normalized PAT) surged 294% YoY to IDR 2.73 trillion.

The company said the stronger profitability reflected lower integration costs and faster realization of merger synergies.

XLSMART is now moving from an intensive network integration phase into an optimization phase.

XLSMART Revenue Growth Supported by Higher Data Consumption

XLSMART’s blended average revenue per user (ARPU) increased to IDR 47.1 thousand in the first half of 2026, from IDR 38.2 thousand in the same period last year.

The increase followed a disciplined pricing strategy and customer portfolio optimization. Data service traffic also rose 19% YoY to 7,934 Petabytes.

The company said the traffic growth was driven by public demand for digital services, including streaming, mobile gaming, and cloud-based services.

President Director & CEO of XLSMART, Rajeev Sethi, said, “The first half of 2026 marks a critical phase in XLSMART’s journey. After undergoing an intensive integration process, we are now entering an optimization phase with an increasingly strong corporate foundation a larger network scale, a broader-spectrum portfolio, and the strength of our multi-brand strategy are beginning to translate into tangible synergies. This is reflected in sustained revenue growth, supported by healthy data consumption and a steadily strengthening ARPU, as well as improving commercial momentum driven by an enhanced customer experience and widespread 5G adoption.”

“Our focus moving forward is not only on completing the integration, but also on ensuring that the full benefits of the merger, including site consolidation and operational efficiencies that drive EBITDA margin expansion, can be translated into even better network quality, broader 5G blanket coverage, and a more relevant digital experience for customers,” Rajeev added.

XLSMART Completes 92% Network Integration

By the end of June 2026, approximately 92% of XLSMART’s sites had been integrated into the network.

The company also dismantled approximately 15,000 redundant sites, reducing recurring operating costs.

The total number of XLSMART base transceiver stations (BTS) increased 26% YoY to 265,442 in the first half of 2026.

Approximately 50% of BTS additions over the past year were in regions outside Java, including Sulawesi and Kalimantan.

The expansion strengthened XLSMART’s network presence in these areas, including 5G blanket coverage in Balikpapan and Banjarmasin.

Gross merger synergies reached USD 153 million in the first half of 2026, three times the USD 48 million recorded in the same period of 2025.

The company said the synergies came from commercial savings through partner negotiations and contracts, network optimization in site operations, utilities and fiber, regulatory cost savings from deactivated sites, organizational optimization, marketing synergies, and lower integration costs.

XLSMART Expands 5G Services to 52 Cities

XLSMART continued to expand its 5G services using a blanket coverage approach.

By the first half of 2026, 5G services were available in 52 cities, including Bekasi, Tangerang, Kendal, and Binjai.

The company had approximately 15,000 5G BTS, while national 5G population coverage reached 23%. 5G traffic contributed 27% to overall traffic growth, while the 5G user experience improved 2.5 times compared with 4G.

XLSMART’s total spectrum portfolio reached 217 MHz, four times the combined spectrum held before the merger.

The company said the additional spectrum improved network capacity and coverage.

Ookla® recognized the XLSMART network in several categories, including “Indonesia’s Best Mobile Network 2026,” “Fastest 5G Network,” “Best 5G Network,” and “Best 5G Video Experience.”

Digital Channels Generate More Than 60% of Mobile Revenue

XLSMART reported 36 million monthly active users across its myXL, AxisNet, and mySF digital applications in the first half of 2026.

More than 60% of mobile revenue was generated through digital channels.

The company also partnered with Google to offer Gemini AI Plus and Cloud Storage to customers at no additional cost.

XLSMART said the partnership was intended to strengthen its customer value proposition and support growth in ARPU, data consumption, digital engagement, and customer loyalty.

XLSMART Reports Lower Gross Debt and IDR 10.27 Trillion Capex

XLSMART’s total gross debt stood at IDR 20.87 trillion at the end of June 2026. Its net debt-to-EBITDA ratio, including lease financing, was 2.61 times.

The company had no US dollar-denominated debt. Of its current loans, 90% had floating interest rates and 10% had fixed interest rates.

Capitalized capital expenditure (Capex) reached IDR 10.27 trillion in the first half of 2026.

The spending supported the acceleration of network integration and 5G service expansion.

PHOTO: VISIOUS

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