New Street Research - FPT (FPT) ... New Street: Indonesian Mobile Slow start to the year but stay positive; Q1 21 review

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New Street Research

Chris Hoare

New Street: Indonesian Mobile Slow start to the year but stay positive; Q1 21 review

This first quarter of 2021 was a mixed bag for Indonesian telcos. On one hand both top line and EBITDA trends slowed down, impacted by competition. On the other hand, OpFCF generation is improving as EBITDA margins and capex/sales keep improving.

01/07/2021 18 EN

Underlyings

FPT

FPT is providing IT and telecommunication products and services. Co.'s main products and services provided are: software development including software outsourcing; software solutions, software services and ERP services; system integration; informatics services including system management, BPO service, Data Center service etc.; telecommunication services including internet services and value added services; digital content service including online advertising, online games etc.; college, university and postgraduate training services; production, distribution and retails of IT and telecommunication products.

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VN000000FPT1 Hochiminh Stock Exchange Vietnam

Indosat

PT Indosat is an Indonesian telecommunications network and service provider. Co.'s principal products and services include Cellular services in which Co. provides Global System for Mobile Communications 900 and 1800 cellular services; Fixed telecommunications services in which Co. provides international long-distance services in Indonesia; and MIDI services in which Co. provides broadband and narrowband fixed data services, including frame relay services, Very Small Aperture Terminal services, leased circuits and Internet services, through Lintasarta, PT Indosat Mega Media to corporate and retail customers and wholesalers.

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ID1000097405 Indonesian Stock Exchange Indonesia

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts

Chris Hoare

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New Street: Indonesian Mobile Slow start to the year but stay positive; Q1 21 review

Telecommunications – Telcos’ Mobile Data Revenue Could Grow 7% yoy

Indonesia Daily - Tuesday, October 1, 2024

Indonesian Telcos Q2 24 review: Continued margin expansion from XL and Indosat; trimmed target price for TLKM

Transgene- TG4050 Advancing, New BT001 Data (TP EUR2.60 [3.20])

Rakuten (Reduce, ¥400, -56%) Rakuten selling a stake in Rakuten Card – highlights the extreme implied value of Mobile

Cityfibre and Hyperoptic Update from the latest accounts - material funding still needed

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