October 29, 2018 ■ 3Q18 core profit reached Rp1.7tr (+3% yoy). 9M18 yoy core profit growth recovered to -1%, from 1H18’s -3%.■ 3Q18 GPM declined, but lower opex supported earnings growth.■ Debts paid off faster than anticipated, leaving room for dividend upside.
Kresna Hutabarat, Henry Tedja/ Riset Mandiri Sekuritas Telkomsel membukukan peningkatan profitabilitas berurutan karena pendapatan broadband dipercepat kembali dan hasil data meningkat pada kuartal III/2018 (3Q18). Sementara itu, bisnis Non-Telkomsel membukukan pertumbuhan EBITDA dua digit YoY karena permintaan untuk layanan IndiHome dan ICT perusahaan tetap kuat. 3Q18 Telkomsel Net Income of...
Adrian Joezer, Lakshmi Rowter, Riyanto Hartanto / Riset Mandiri Sekuritas Menindaklanjuti hasil indikatif UNVR pada 3Q18, rincian lebih lanjut menunjukkan peningkatan volume dari produk HPC dan F&B, yang disesuaikan untuk divestasi Spreads. Campuran produk yang lebih baik dan biaya operasional yang dikelola membantu menutupi siklus meningkatnya biaya inflasi, yang paling...
Ariyanto Kurniawan, Edbert Surya/Riset Mandiri Sekuritas ASII membukukan laba bersih sembilan bulan pertama pada 2018 (9M18) diatas prediksi kami karena kontribusi yang tinggi dari PT United Tractors Tbk (UNTR, Rp 32.125, BUY, TP Rp43.750). kami merubah FY18-20F laba bersih sebesar 5% pendapatan yang lebih tinggi dari UNTR. Maintain BUY with higher...
■ 3Q18 sales grew by 33% yoy, paced by both local and export demand. This brought 9M18 sales growth to 21% - the strongest among staples peers.■ 3Q18 net profit declined by 4% yoy due to...
Two pillars of growth; maintain BUY9M18 EPS was 6% better than expected on the back of higher-than expected recurring income. We raise EPS by 9-13% for the latter. That said, our higher WACC of 15.1% (from 12.6%) to reflect rising interest rates...
release date: October 29, 2018 BUY with a higher TPUNTR is a beneficiary of not only strong coal prices, but also IDR weakness and hence we saw good 3Q18 earnings. We maintain our BUY call as we expect strong earnings momentum to persist for...
Release date: October 29, 2018 ■ 9MFY18 core profit of Rp2.05tr (+27% yoy) was ahead of expectations. The beat mainly came from stronger-than-expected revenues and margins.■ Revenue growth was driven by both landed development and recurring income. Gross margin also expanded in both...
Release date: October 26, 2018 ■ After two quarters of disappointments, 3Q18 GPM improved to 24.2% (vs. 1H18’s 23.3%), bringing 9M18’s net profit growth to 4% (vs. 1H18’s +1%). ■ The GPM recovery implies HMSP may have found the right...
Mirae Asset Sekuritas Indonesia Flash Focus Flash Focus – ISAT 3Q18 highlights flash review by Giovanni Dustin Oct 31, 2018 ISAT 3Q18 result highlights: EBITDA in-line with ours, but below consensus Indosat (ISAT), released its 3Q18 financial result highlights. For 3Q18, ISAT booked revenue of IDR5.7tr (+6% QoQ, -24% YoY), implying 71%/67% 9M18...