Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia TbkNYSE: TLK

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK ) Q3 2024 Earnings Conference Call October 31, 2024 3:00 AM ET Company Participants Octavius Oky Prakarsa - VP Investor Relations Ririek Adriansyah - President, Director and Chief Executive Officer Heri Supriadi - Director of Finance and Risk Management Nugroho - President Director, Telkomsel Derrick Heng - Marketing Director, Telkomsel Budi Setyawan Wijaya - Strategic Portfolio Director, Telkomsel Conference Call Participants Arthur Pineda - Citigroup Piyush Choudhary - HSBC Sukriti Bansal - Bank of America Marissa Putri - UBS Henry Peja - Mandiri Sekuritas Ranjan Sharma - J.P. Morgan Octavius Oky Prakarsa Ladies and gentlemen welcome to PT Telkom Indonesia Earnings Call for the Unaudited Results of Nine Months of 2024.

I stick to a Buy rating for Telekomunikasi Indonesia, taking into consideration the improved competitive environment for its mobile business and the favorable growth prospects for its data center operations. TLK's mobile ARPU remained stable in Q2 2024 and its peers have began to raise prices, which indicates that pricing competition has become less intense in the Indonesian mobile market. TLK's data center revenue grew by 22% YoY in 1H 2024, and the growth outlook for this segment is positive considering the company's 2030 capacity growth target and its search for strategic investors.

Investors looking for stocks in the Diversified Communication Services sector might want to consider either PT Telekomunikasi (TLK) or Telus (TU). But which of these two stocks is more attractive to value investors?

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does PT Telekomunikasi (TLK) have what it takes?

Investors with an interest in Diversified Communication Services stocks have likely encountered both PT Telekomunikasi (TLK) and BCE (BCE). But which of these two stocks presents investors with the better value opportunity right now?

I believe the recent drop in Telekomunikasi Indonesia's stock is excessive, as the outlook for mobile ARPU is not as negative as anticipated. Positive Q1 performance and the successful sale of part of the data center business could drive TLK's stock higher. I am optimistic about Telekomunikasi Indonesia's stock and see the recent decline as a chance to buy at a good price.

Telekomunikasi Indonesia's mobile and broadband businesses could perform above expectations in the short term, considering the favorable market environment for the Indonesian mobile industry and its attractive Telkomsel Orbit offering. For the long term, TLK's data center still has a long growth runway ahead, taking into account its overseas market expansion plans. Telekomunikasi Indonesia deserves a Buy rating based on a comparison of its valuations with its growth outlook.