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Brief Presentation September 2005 Page 1
PT Indosat Tbk
First Nine Months of 2005 Results
Brief Presentation September 2005 Page 2
Key Business Segment
Cellular Business Fixed Telecom MIDI
Description – Second largest cellular operator in Indonesia
– Revenue comes primarily from IDD business (86%)
– Corporate Data Communications, Leased Lines, Satellite, Internet
Contribution(9M 2005) – 75% of revenue – 11% of revenue – 14% of revenue
Target Market Segment
– Corporate – Youth – Mass
Services • Matrix – Postpaid for high end with advanced features
• Mentari –Prepaid for general users
• IM3 – Prepaid for the young & trendy
• IDD 001• IDD 008• Flat call• StarOne
– Corporate– SME – Residential
– Wholesale – Corporate– Residential
• Frame Relay• Leased Circuits• Data Comms• Internet Access• VSATs
Indosat’s key businesses are Cellular, Fixed Telecom and MIDI
Brief Presentation September 2005 Page 3
Ownership Structure
Public
Listed on the JSX, SSX and NYSE with market cap of around Rp28.2 trilion(1)
Note:(1) Per 30 September 2005
Republic of Indonesia
40.77% 44.65% 14.58%
§ Indosat’s shares are majority owned by public investors (44.65%)
§ ST Telemedia through Indonesia Communications Limited owns (40.77%)
§ Indonesian Government owns 14.58% including Series A share
Brief Presentation September 2005 Page 4
Vision and Strategy
Focus on cellular subs growth
Maintain IDD business and entering into DLD and FWA business
Nurturing MIDI business through synergy among business lines
Increase efficiency and synergy development
VISION : To become a leading cellular / wireless focused telecommunication network and service provider in Indonesia
Strategy
Brief Presentation September 2005 Page 5
Main Initiatives 2005-2006
Enhanced Customer Focus• Enhance services in new regions
• Enhance market segmentation and targeting
Committed to Good Corporate Governance due to the listing in the Jakarta, Surabaya and NY Stock Exchanges
Acceleration of network roll out and investment
(Around US$900 mio in 2005 and US$670 mio in 2006, 85% for cellular)
Brief Presentation September 2005 Page 6
Major Achievements in Nine Months 2005
12.7 cellular subscribers with a cellular revenues growth of 25.2% (YoY)
IDD traffic increased 7.1% despite a decline in its revenues due to a tighter competition
Realization of merger benefits (cost efficiencies)
MIDI revenues increased 11.4% (YoY)
Brief Presentation September 2005 Page 7
0.0
5,000.0
10,000.0
15,000.0
20,000.0
25,000.0
30,000.0
35,000.0
40,000.0
45,000.0
2002 2003 2004 Sept-05
Indosat Indonesia
Cellular Services
§ Recording a high subs growth in recent years (CAGR 65% 2002-2004)
§ In Nine Months 2005 Indosat recorded net add of 2.9 million subs, hence the cellular subs base on September 30, 2005 was 12.7 million subscribers.
§ Indonesian cellular penetration is relatively lower compared to other countries.
5%
19%
28%
42%
46%
63%
96%
India
Indonesia
China
Phillippines
Thailand
Malaysia
Singapore
Cellular Penetration (GSM) 1(dalam ribu)
Cellular Subscriber Growth
2002 -2004
Indosat CAGR 65%
Indonesia CAGR 62%
Notes : (1) Penetration data as Q2 2005, except Indonesia per 30 September 2005
Brief Presentation September 2005 Page 8
Cellular Subscribers Composition
Subs composition as at September 30 2005 (in 000)
Postpaid5%
Prepaid95%
ARPU
0
50,000
100,000
150,000
200,000
250,000
300,000
9M-04 9M-05
Prepaid Postpaid Blended
Subs Composition as at September 30 2005
Non Java, 22%
Java, 78%
Cellular Operating Revenues(Rp billion)
2002 -2004 CAGR 51%
3,272
5,118
7,451
5,343
6,691
2002 2003 2004 9M-04 9M-05
Brief Presentation September 2005 Page 9
MIDI14%
Cellular75%
SLI11%
Revenues Composition (9M - 2005)
§ Fixed telecommunication contributed 11% to operating revenues. IDD contributed 86% to fixed telecom revenues.
§ MIDI revenues increased 11.4% (YoY), mainly due to continued demand in the domestic wholesale market.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2002 2003 2004 9M-05Outgoing Incoming
Fixed Telecommunication and MIDI
Trend in IDD Traffic(in thousands minutes))
60% 78%
27%40%
73% 82%
22% 18%
Brief Presentation September 2005 Page 10
Cellular Network Coverage
142Base Station Controllers
41Mobile Switching Centers
4,851Base Stations
9M-05
Indosat Cellular Coverage Number of BTS
Java61.5%
Non-Java
38.5%
Brief Presentation September 2005 Page 11
Organization Structure
Deputy President Director
Ng Eng Ho
Deputy President Director
Ng Eng Ho
Network Ops & Quality
MgmtDirector
Raymond Tan
Network Ops & Quality
MgmtDirector
Raymond Tan
Information Technology
Director
Joseph Chan
Information Technology
Director
Joseph Chan
Planning & Project Dev
Director
Wityasmoro S. H.
Planning & Project Dev
Director
Wityasmoro S. H.
Finance Director
Wong Heang Tuck
Finance Director
Wong Heang Tuck
Corporate ServicesDirector
S. Wimbo S. Hardjito
Corporate ServicesDirector
S. Wimbo S. Hardjito
Corporate Market
Director
Wahyu Wijayadi
Corporate Market
Director
Wahyu Wijayadi
Consumer Market
Director
Johnny S. Sjam
Consumer Market
Director
Johnny S. Sjam
President Director
Hasnul Suhaimi
President Director
Hasnul Suhaimi
Regional Jawa Timur &
Kalimantan
Regional Jawa Timur &
Kalimantan
Regional Sulawesi, Maluku &
Papua
Regional Sulawesi, Maluku &
Papua
Regional Jawa Barat
&JawaTengah
Regional Jawa Barat
&JawaTengah
Regional Sumatera
Regional Sumatera
RegionalJabotabek &
Banten
RegionalJabotabek &
BantenSenior Vice PresidentsSenior Vice Presidents
Brief Presentation September 2005 Page 12
Human Resources
Employees Composition (Total Headcount 8,107 per 30 September 2005)
Non-permanent
39%
Permanent61%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
30/09/04 30/09/05
IndosatLintasartaIM2Sisindosat
Indosat employees comprise of permanent employees (61%) and non-permanent employees (39%).
Non-permanent employees are hired for support functions.
Brief Presentation September 2005 Page 13
Financial Performance (9M 05 vs 9M 04) In billion Rupiah
Operating Revenues Rp8,908.6 14.2%
Operating Income Rp2,859.7 6.8%
EBITDA Rp5,078.710.4%
Other Income (Expenses) (Rp1,344.9) 154.6%
Net Income Rp1,018.4 32.8%
(1) Restated for the early adoption of ‘SAK’’ 24 (Revised 2004), ‘‘Accounting for Employee Benefits’’, and SAK 38 (Revised
2004), ‘‘Accounting for Restructuring Transactions of Entities under Common Control’’.
(2) In 9M-04 we recorded pre-tax gain from the sale of our shares in subsidiaries amounting to Rp394.3 billion
Brief Presentation September 2005 Page 14
3,662
4,386
6,053
5,079
54.1%
57.0%57.4%
53.3%
2002 2003 2004 9M-05
EBITDA EBITDA Margin
Revenues and EBITDA growth
Indosat recorded healthy revenues and EBITDA growth
(Rp billion)
Revenues EBITDA and EBITDA Margin(Rp billion)
2002 -2004 CAGR 25%2002 -2004 CAGR 29%
6,767
8,235
10,549
8,909
2002 2003 2004 9M-05
Brief Presentation September 2005 Page 15
Sound Balance Sheet
53.3%
57.4% 57.0%
2003 2004 9M-05
EBITDA Margin Interest Coverage
Debt to EBITDA Net Debt to Equity
190.7%
267.7%224.5%
2003 2004 9M-05
48.9%41.7%
51.2%
2003 2004 9M-05
531.4%
562.6%
534.7%
2003 2004 9M-05
Brief Presentation September 2005 Page 16
Composition of Assets & Liabilities
0
100
200
300
400
500
600
700
800
900
Others 378Payables 242Bonds Payable 550Receivables 125
Cash & Equivalent 289
Liabilities Assets Net
In US$ million as of 30 September 2005
§ Indosat is relatively hedged against currency and interest rate fluctuations (98% of debts had fixed interest rate as at 30 September 2005).
§ Net liabilities in US$ was US$378 million of which US$275 million was hedged as of 30 September 2005. Cash and its Equivalent
(Per 30 Sept 2005 Total Rp 5,794.5 bio)
Rupiah48.64%
US$51.36.%
Payables(Per 30 Sept 2005 Total Rp18,372.3 bio)
US$ 44.44%
Rp 55.56%
Brief Presentation September 2005 Page 17
Recent Development§ Indosat’s fixed line and wireless customers can make DLD and IDD
calls more easily and automatically with more broaden coverage of destination.
§ On October 18, 2005, Indosat launched its DLD services with national access code “0” is remain applicable.
§ Indosat offers its DLD customers off net and on net price with discount for any call to Indosat Fixed and cellular subscribers.
§ For IDD, Telkom’s customers can easily make calls by dialing 001 and 008 automatically and vice versa.
§ Free National Roaming for all Matrix subscribers.
§ Provides 3 options, which are Free Monthly Fee Packages, Free 180 SMS Package and Family & Friends Package.
§ Indosat has started 3G trial in August 2005 following the assignment of trial spectrum in July 2005.
§ Supporting 3G trial, Indosat has installed 10 BTSs in Jakarta and Surabaya.
§ Indosat had initiated the plan to migrate its fixed wireless network from the 1900 MHz band in Jakarta.
Launched DLD Services
“Matrix You”
Preparation for 3G Services
Brief Presentation September 2005 Page 18
Thank You