XL Axiata

XL Axiata (EXCL IJ) - Are You Converegent?

Equity Bottom-Up
186 Views, 12 May 2022 19:52
EXECUTIVE SUMMARY
  • XL Axiata (EXCL IJ) results were encouraging with +8% revenue growth driven by data (95.5% of service revenues), with stable ARPUs and price competition easing during 1Q2022.
  • The march towards being truly converged continues with the completion of the Link Net acquisition giving it a significant leg up and due for completion on 27th May.
  • XL Axiata remains our top pick amongst Indonesia's telcos, with the highest exposure to data and Indonesia's headlong growth into all things digital and compelling valuations.
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Angus Mackintosh
ASEAN Insight Provider
CrossASEAN Research
IndonesiaEquity Bottom-UpThematic (Sector/Industry)

In Equity Sales and Research for more than 25 years covering Asian markets. Possesses in-depth knowledge of a wide range... 

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