Mar 16, 2011

XL Axiata eyeing 10% growth in earning

Indonesia's third largest cellular operator PT XL Axiata Tbk (EXCL) is eyeing a 10% growth in net income this year from Rp2.89 trillion last year.
Adding to that, revenue is expected to increase at least 10% this year from Rp17.6 trillion last year.
XL Axiata's total subscribers are targeted to enlarge to 44.4 million after it recorded 40.4 million subscribers last year.
The operator, which is controlled by Malaysian Axiata Berhad, is keen to reduce its debt to Rp8 trillion at end of this year from Rp10 trillion.
The company will refinance existing debt using internally generated cash flow which recorded Rp4 trillion last year.
On January 27 2011, XL Axiata paid Rp400 billion debt to PT Bank Mandiri Tbk.
The operator posted Rp7.70 trillion long term debt with Rp976.87 billion will mature within 1 year. The company also managed Rp1.5 trillion bond maturing on April 26 2012.
In total, the operator recorded Rp9.2 trillion long term debt. In December 2010, XL Axiata owed Rp4.30 trillion to Bank Mandiri, Rp2.17 trillion to EKN, Rp1 trillion to Bank Sumitomo Mitsui Indonesia, Rp1 trillion to The Bank of Tokyo-Mitsubishi UFJ Ltd, and Rp250 billion to PT ANZ Panin Bank. 

Disclosure: No position at the stock mentioned above.

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