Full Year 2014 Info Memo

Tickers
Indosat Full Year 2014 Investor Memo
IDX : ISAT
30 March 2015
Market Capitalization
(As of 31 December 2014)
IDR22.00 trillion
Revenue growth continued quarterly, supported by cellular data and fixed data
performances
Issued Shares
5,433,933,500
Results Highlights
Share Price (IDX: ISAT)
Consolidated revenues increased by 1.0% in year ended 31 December 2014 compared to the
previous year. This growth was driven primarily by Cellular revenues, which increased by 0.5%.
Cellular revenue growth was contributed mainly by Data revenue growth.
(As of 31 December 2014) IDR4,050
Hi/Lo (twelve months) IDR3,100/IDR4,295
Shareholder Structure
(As of 31 December 2014)
Ooredoo Asia
65.00%
(formerly known as Qtel Asia)
Republic of Indonesia
Skagen AS
Free Float
14.29%
5.39%
15.32%
IDR to USD Conversion
1 USD = IDR12,440 (31 December 2014)
Corporate and Bond Ratings
(31 December 2014)
Moody’s : Stable Outlook
: Ba1
S&P
: Stable Outlook
: BB+
Fitch
: Stable Outlook
: BBB
AAA (idn)
Pefindo : Stable Outlook
idAAA/Local Currency Debt
idAAA(sy)/Local Sukuk Ijarah
Investor Relations &
Corporate Secretary
PT Indosat Tbk - Indonesia
Ph: +62 21 30442615 / 30003001
Fax: +62 21 30003757
E-mail: [email protected]
http://www.indosat.com
Please refer to the important
disclaimer at the back of this
document
Fixed Data continued to grow by a healthy 7.4% compared to the previous year mainly driven by
new customers of Transponders, IPVPN, MPLS, increases in capacity usage of internet services
(INP), and IT services projects. Fixed Voice (Fixed Telecom) revenues decreased by 9.8% resulting
primarily from decreasing IDD outgoing revenue.
Cash-out for CAPEX investments of IDR6,443.4 billion in the year focused on network
modernization, and capacity expansion and coverage to support future demands for data services,
as well as internal business support system enhancements.
Consolidated Financial Summary for the Years ended 31 December 2014 and 2013 (in IDR
billion)
FY 2014
FY 2013
Change (%)
Operating Revenues
24,085.1
23,855.3
1.0
• Cellular
19,480.5
19,374.6
0.5
• Fixed Data
3,508.5
3,265.9
7.4
• Fixed Telecom
1,096.1
1,214.8
(9.8)
Operating Profit
672.9
1,509.2
(55.4)
Loss for the Year Attributable to
(1,987.2)
(2,782.0)
(28.6)
Owners of the Company
EBITDA*
10,059.3
10,376.0
(3.1)
Consolidated Statement of Financial Position as of 31 December 2014 and 31 December 2013
(in IDR billion)
FY 2014
FY 2013
Change (%)
Total Assets
53,254.8
54,520.9
(2.3)
Total Liabilities
39,058.9
38,003.3
2.8
Total Equity**
14,195.9
16,517.6
(14.1)
Total Debt
23,146.2
23,931.1
(3.3)
Obligation Under Finance Lease
4,052.3
3,940.5
2.8
Financial Ratios as of 31 December 2014 and 2013
Formula
EBITDA Margin
EBITDA/Operating Revenue
Interest Coverage***
EBITDA/Interest Expense
Gross Debt to Equity
Gross Debt /Total Equity
Debt to EBITDA
Gross Debt / Total EBITDA
FY 2014
41.8
5.3
1.9
2.7
FY 2013
43.5
6.1
1.7
2.7
* EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-GAAP measure that
management believes is a useful a supplemental measure of cash available prior to debt service, capital
expenditures and income tax. Investors are cautioned that EBITDA should not be construed as an alternative to
net income determined in accordance with GAAP as an indicator of the Company’s performance or to cash flows
from operations as a measure of liquidity and cash flows. EBITDA does not have a standardized meaning
prescribed by GAAP. The Company’s method of calculating EBITDA may differ from the methods used by other
companies and, accordingly, it may not be comparable to similarly titled measures used by other companies.
** Including non controlling interests.
*** Calculated using EBITDA and interest expense for the years ended December 31, 2014 and 2013.
1
FULL YEAR 2014
OPERATING AND FINANCIAL RESULTS
PT Indosat Tbk (“Indosat” or the “Company”) has released its audited consolidated financial statements for the Year 2014 (“FY
2014”). The consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting
Standards (IFAS).
Consolidated Statement of Comprehensive Income
Key Indicators
YoY
(in IDR billion)
FY 2014
FY 2013
Revenues
24,085.1
23,855.3
• Cellular
19,480.5
19,374.6
• Fixed Data
3,508.5
3,265.9
• Fixed Telecom
1,096.1
1,214.8
Expenses
23,412.2
22,346.1
Operating Profit
672.9
1,509.2
Other Expenses - Net
(2,608.8)
(4,843.0)
Loss for the Year
(1,987.2)
(2,782.0)
Attributable to Owners
of The Company
Growth %
1.0
0.5
7.4
(9.8)
4.8
(55.4)
(46.1)
(28.6)
4Q 2014
6,367.8
5,189.8
915.8
262.2
6,193.4
174.4
(823.5)
(664.2)
Quarterly
3Q 2014
6,104.2
4,925.4
886.9
291.9
5,615.8
488.4
(701.4)
(210.6)
Growth %
4.3
5.4
3.3
(10.2)
10.3
(64.3)
17.4
215.4
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Revenues of IDR24,085.1 billion were recorded in FY 2014, an increase of IDR229.8 billion or 1.0% compared to FY 2013.
Indosat’s Cellular, Fixed Data, and Fixed Voice businesses contributed 81%, 14%, and 5% respectively to the consolidated
operating revenues for the year ended 31 December 2014.

Cellular revenues increased by 0.5% in FY 2014, mainly attributable to increases in Data and VAS revenue
compensated by decreased in Voice, SMS, and Interconnection revenue. Revenue growth mostly contributed by
modernized areas.

Fixed Data (MIDI) revenues increased by 7.4% compared to FY 2013, driven by new customers of Transponders,
IPVPN, MPLS, increase capacity from internet services and IT services project.

Fixed Voice (Fixed Telecom) revenues decreased by 9.8% over the year 2013, owing to lower international direct dial
(IDD) revenues, Indosat phone and transfer of customers from FWA services to Cellular services.
Expenses of IDR23,412.2 billion were recorded for FY 2014, an increase of IDR1,066.1 billion or 4.8% over FY 2013. The
increase was a result of increased cost of service, marketing expenses, and provision for IM2 legal case, partly offset by
decreased depreciation & amortization, personnel expenses, general and administration expenses, and recognition of gain from
sale of investment in share of PT Tower Bersama Infrastructure Tbk (“TBIG”) in 1Q - 2014.

Cost of services: increased by IDR452.4 billion or 4.5% over FY 2013 mainly as a result of increased in frequency fees,
maintenance, rent and costs of handsets and modems, offset by decreased in interconnection expenses in line with lower
revenues, decreased leased circuit due to cost optimization and decreased BlackBerry license fee.

Depreciation and amortization: decreased by IDR732.3 billion or 8.2% over FY 2013, due to delay of network
modernization deployment and less accelerated depreciation.

Personnel expenses: decreased by IDR15.1 billion or 0.9% over FY 2013 mainly owing to lower headcount and lower
postretirement healthcare.

Marketing expenses: increased by IDR151.3 billion or 16.9% over FY 2013, primarily due to pushed Data campaign
starting in 3Q 2014.

General and Administration expenses: decreased by IDR42.0 billion or 4.7% over FY 2013 mainly owing to lower
professional fees.

Provision for legal case: increased by IDR1,358.6 billion or 100.0% over FY 2013, due to the recognition of provision
for legal case in subsidiary (detailed explanations can be read at the Company’s disclosure to OJK).
Other Expense - net: decreased by IDR2,234.2 billion or 46.1% over FY 2013 driven primarily by decreased loss on foreign
exchange - net and increase in interest income.

Loss on Foreign Exchange - net: Indosat recorded a net foreign exchange loss in FY 2014 of IDR243.2 billion
compared to a net loss of IDR3,011.4 billion in FY 2013 as a result of lower outstanding USD debt in 2014 compared to
2013 and lower IDR depreciation against USD in 2014 compared to 2013.

Financing costs: increased by IDR194.4 billion or 8.8% over FY 2013 as a result increase in interest expense on higher
interest rate of IDR loans and finance charge under finance lease.

Interest income: increased by IDR35.6 billion or 33.2% over FY 2013 as a result of higher average cash balances.
2

Loss on change in fair value of Derivatives - net: increased by IDR375.2 billion over FY 2013 as the impact of lower
IDR depreciation against USD during 2014 and higher derivative contract exchange rate.
Loss for the Year Attributable to Owners of the Company: decreased by 28.6% over FY 2013 caused primarily by
decreased in Net Foreign Exchange Loss (91.9%).
Consolidated Statement of Financial Position
Key Indicators (in IDR billion)
Total Assets
Total Liabilities
Total Equity
FY 2014
53,254.8
39,058.9
14,195.9
FY 2013
54,520.9
38,003.3
16,517.6
Growth %
(2.3)
2.8
(14.1)
Total assets decreased by 2.3% to IDR53,254.8 billion.
Total liabilities increased by 2.8% to IDR39,058.9 billion.
Total equity decreased by 14.1% to IDR14,195.9 billion.

Current assets increased by 19.8% to IDR8,591.7 billion, mainly resulting from an increase in cash and cash equivalent
due to proceeds from bonds 2014 issuance.

Non-current assets decreased by 5.7% to IDR44,663.1 billion, largely as a result of lower other long term investment due
to the sale of investment in TBIG shares.

Current liabilities increased by 56.7% to IDR21,147.9 billion as a result of higher current maturities of long term debt,
mainly contributed by USD Guaranteed Notes-2020, and provision for legal case in subsidiary.

Non-current liabilities decreased by 26.9% to IDR17,911.0 billion mainly as a result of lower long-term debt payable due to
reclassification of sixth Indosat Bond which will be due in 2015.
Cash Flow and Capital Expenditure
Key Indicators (in IDR billion)
Net Cash Provided by Operating Activities
Net Cash Used in Investing Activities
Net Cash Used in Financing Activities
Net Foreign Exchange Differences from Cash and Cash Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
Cash and Cash Equivalents of a Liquidated Subsidiary
CASH AND CASH EQUIVALENTS AT END OF YEAR
FY 2014
7,348.8
(5,003.6)
(1,057.4)
(41.3)
1,246.5
2,233.5
3,480.0
FY 2013
8,392.1
(9,068.0)
(748.8)
(221.3)
(1,646.0)
3,917.2
(37.7)
2,233.5
Growth %
(12.4)
(44.8)
41.2
(81.3)
175.7
(43.0)
100.0
55.8

Net Cash Provided by Operating Activities decreased by 12.4% mainly due to higher payment to authorities & vendors,
and higher payments for financing cost.

Net Cash Used in Investing Activities decreased by 44.8% mainly contributed by recognition of proceeds from sale of
investment in TBIG shares and lower payments for capital expenditures.

Net Cash Used in Financing Activities increased by 41.2% mainly due to higher repayment of short-term debt.

Net Foreign Exchange Differences from Cash and Cash Equivalents decreased by 81.3% due to appreciation of the IDR.

Net change in Cash and Cash Equivalents increased by 175.7% mainly due to net proceed from sale of investment in
TBIG shares and lower payment for capital expenditures.
Cash-out CAPEX in FY 2014 amounted to IDR6,443.4 billion, a decrease of 30.9% over FY 2013. Of this amount,
approximately 86.0% was allocated to cellular, mainly to support data services demand. The remaining balance was allocated
to fixed voice, fixed data, infrastructure and IT Capex.
STATUS OF DEBT
As of 31 December 2014, Indosat’s total debt decreased by 3.3% compared to 31 December 2013. Debt repayments during the
year were for SEK Loan Tranche A, B & C installments of USD45.0 million, HSBC Coface and Sinosure installments of
USD20.1 million, 9-Year Commercial Loan installment from HSBC of USD4.1 million, Indosat Bond V series A settlement of
IDR1.23 trillion, Indosat Sukuk Ijarah II settlement of IDR400.0 billion, RCF Mandiri Facility of IDR1,5 trillion, RCF BCA Facility
of IDR500.0 billion, BCA Investment credit facility of IDR100.0 billion, Indosat Bond VII Series A settlement of IDR700.0 billion
and Indosat Sukuk Ijarah IV settlement of IDR28.0 billion. Debt issuance during the year were RCF IIF-SMI Facility drawdown
of IDR450.0 billion, RCF BNI Facility drawdown of IDR600.0 billion, RCF Mizuho Facility drawdown of IDR250.0 billion, RCF
BNPP Facility drawdown of IDR350.0 billion, RCF SMI Facility drawdown of IDR100.0 billion, loans from non-controlling interest
3
of APE of IDR15.75 billion and Shelf Registration Indosat Bond I Phase I issuance of IDR2.31 trillion and Shelf Registration
Indosat Sukuk Ijarah I Phase I issuance of IDR 190.0 billion.
Total outstanding debt: As at 31 December 2014, the Company had total outstanding debts including obligation under
financial lease of IDR27,198.5 billion. The Company has hedging facilities in place covering USD433.0 million or 50.27% of the
Company’s USD denominated bonds and loans. The Company’s cash position as at 31 December 2014 stood at IDR3,480.0
billion and net debt at IDR23,718.5 billion. The composition of Indosat debt is as follows:
Debt Proportion (Principal amount)
IDR Loans (billion)
USD Loans (million)
IDR Bonds (billion)
USD Bonds (million)
FY 2014
4,616.8
211.3
7,962.0
650.0
FY 2013
4,951.1
280.5
7,820.0
650.0
Growth %
(6.8)
(24.7)
1.8
0.0
Total maturing debt: in the next twelve months, the Company has debts of IDR2,923.2 billion and USD719.2 million coming to
maturity. The average tenor of debt is 2.6 years as at 31 December 2014.
OPERATIONAL RESULTS
Cellular
Key Indicators
Customers - Postpaid (million)
Customers - Prepaid (million)
Customers - Total (million)
ARPU (Postpaid) (IDR thousand)
ARPU (Prepaid) (IDR thousand)
ARPU (Blended) (IDR thousand)
MoU
ARPM
FY 2014
0.8
62.4
63.2
134.2
25.3
27.2
78.4
143.2
YoY
FY 2013
0.8
58.8
59.6
166.0
25.8
27.5
93.0
132.6
Growth %
2.3
6.2
6.1
(19.1)
(1.8)
(1.2)
(15.7)
8.0
4Q 2014
0.8
62.4
63.2
132.0
26.4
28.0
78.1
142.4
Quarterly
3Q 2014
0.8
53.4
54.2
132.0
26.1
28.3
78.1
147.7
Growth %
1.1
16.9
16.6
(0.0)
1.1
(1.0)
0.1
(3.6)
The Company ended FY 2014 with a cellular customer base of 63.2 million, an increase of 6.1% or 3.6 million customers over
FY 2013.
Average Revenue Per User (ARPU) for cellular customers in 4Q 2014 ended December 31, 2014, stood at IDR28.0 thousand,
a decrease of 1.0% over 3Q 2014. The ARPU in FY 2014 decreased versus the ARPU of the same period last year.
Average Minutes of Usage (MOU) per customer decreased to 78.4 minutes (a decrease of 15.7% compared to FY 2013).
Average Revenue Per Minute (ARPM) increased to IDR143.2 (representing an increase of 8.0% compared to FY 2013) amid a
continued competitive environment.
Fixed Data (MIDI)
Key Indicators
Indosat
International High Speed Leased Circuit
Domestic High Speed Leased Circuit
Transponder
IPVPN
Internet
Frame Relay
Lintasarta
High Speed Leased Line
Frame Relay
VSAT
IPVPN
IM2
Internet Dial Up
Internet Dedicated
IPVPN
Unit
FY 2014
FY 2013
Growth %
Mbps
Mbps
Mhz
Mbps
Mbps
Mbps
94,338
129,461
1,119
4,197
43,653
2
44,530
131,513
1,030
3,710
45,106
4
111.9
(1.6)
8.6
13.1
(3.2)
(50.0)
3,948,164
114,684
156,547
1,423,541
3,378,735
133,947
137,258
1,059,530
16.9
(14.4)
14.1
34.4
3,614
701
330
3,937
683
339
(8.2)
2.6
(2.7)
64Kbps
64Kbps
64Kbps
64Kbps
User
Link
Link
Fixed connectivity and the strong satellite transponder demand contributed significant growth in Fixed Data. Decline in Frame
Relay and VSAT were due to migration to IPVPN and / or other terrestrial solution, respectively in cities.
4
MARKETING ACTIVITIES
Cellular

Pro Rakyat
Launched on 23 October 2014, Paket Pro Rakyat is an add-on program for Indosat prepaid, offering compelling various
packages with very affordable pricing. Starting from only IDR1,000, a subscriber is entitled for up to 90 minutes voices,
1000 SMS, and 10 MB of data, within a certain time band.

Indosat Super Internet Revamp
Launched on 30 September 2014, Indosat Super Internet is a special internet package offering a high speed internet
access up to 42 Mbps with up to 18 GB quota. Starting from only IDR2,000 , packages are available for daily, weekly and
monthly subscription, and consists of quota package, unlimited package, and extra package. This program is supported
by new Indosat network which is available in more than 23 cities in Indonesia.

IM3 Play 24 Jam (New)
Launched on 10 November 2014, IM3 Play 24 Jam (New) is the refreshment of the previous IM3 Play 24 Jam program,
replacing bonus social media access from previous program with free 10 MB internet access and Super Wifi in the new
program. This new program offers free 10 MB internet (after IDR1,000 usage), free 1000 minutes on-net call (after 1
minute paid on-net call) free 1000 SMS to all operator (after 1 paid SMS), and free access to Indosat Super Wifi.

Happy Sunday Return
Launched on 12 October 2014, Happy Sunday is a special reload program offering free voices and SMS for every reload
in Sunday. Subscribers entitle for free 100 Minutes call and 100 SMS for a IDR10,000-20,000 reload exercised in 00 – 17
time band, and for IDR25,000 reload and above exercised in 00 – 24 time band.
NETWORKS
Cellular (GSM) Network. The Company operated 40,229 BTSs as of 31 December 2014, including 2G and 3G BTSs or added
15,949 BTSs compared to the previous year.
Significant CAPEX investments focused on network modernization and data readiness, coverage, and capacity expansion to
support ongoing growth.
Key Indicators
Base Transceiver Stations (BTS)
2G
3G
Base Station Controllers (BSC)
Mobile Switching Centers (MSC)
FY 2014
22,166
18,063
403
54
YoY
FY 2013
18,871
5,409
394
64
Additional
3,295
12,654
9
(10)
Fixed Wireless (CDMA) Network. As of 31 December 2014 the Company had 1,550 BTSs, 37 BSCs and 8 MSCs in operation.
About Indosat
Indosat is the leading telecommunication and information operator in Indonesia that provides cellular services, fixed line, data communications and internet (MIDI). In
the third quarter of 2014, the company has 54.2 million mobile subscribers through a variety of brands, among others; IM3, Mentari and Matrix. Indosat operates
international direct dialing (IDD) through the access codes 001, 008 and Flatcall 01016. The company also offers corporate and SME solutions namely Indosat Business
that supported by integrated telecommunications network throughout Indonesia as well as satellite services via satellite Palapa-C2 and Palapa-D. Indosat also has a
very broad digital services program including a dedicated digital services unit (www.indosat.com/digital), Indonesia’s first innovation competition IWIC (Indosat Wireless
Innovation Contest) and Indonesia’s leading startup incubator Ideabox (www.ideabox.co.id). Indosat is a subsidiary of the Ooredoo Group. Indosat's shares are listed on
the Indonesia Stock Exchange (IDX: ISAT).
5
APPENDICES
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Years Ended 31 December 2014 and 2013
(Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar)
Description
IDR
REVENUES
Cellular
Multimedia, Data Communication, Internet (Fixed Data)
Fixed Telecommunications
TOTAL REVENUES
Full Year Ended
31 December
2014
USD (1)
2013
IDR
Growth (2)
(%)
19,480.5
3,508.5
1,096.1
24,085.1
1,566.0
282.0
88.1
1,936.1
19,374.6
3,265.9
1,214.8
23,855.3
0.5
7.4
(9.8)
1.0
10,408.9
8,226.1
1,712.5
1,358.6
1,044.9
859.5
152.3
(413.7)
836.7
661.3
137.7
109.2
84.0
69.1
12.2
(33.3)
9,956.5
8,958.4
1,727.6
893.6
901.5
(224.5)
-
4.5
(8.2)
(0.9)
100
16.9
(4.7)
(167.8)
100.0
(141.0)
204.1
23,412.2
(11.3)
16.4
1,882.0
(141.0)
274.0
22,346.1
0.0
(25.5)
4.8
672.9
54.1
1,509.2
(55.4)
Interest Income
Financing Cost
Loss on Foreign Exchange - net
Gain (Loss) on Change in Fair Value of Derivatives - net
OTHER EXPENSES - Net
142.8
(2,406.5)
(243.2)
(101.9)
(2,608.8)
11.5
(193.5)
(19.5)
(8.2)
(209.7)
107.2
(2,212.1)
(3,011.4)
273.3
(4,843.0)
33.2
8.8
(91.9)
(137.3)
(46.1)
LOSS BEFORE INCOME TAX
(1,935.9)
(155.6)
(3,333.8)
(41.9)
77.9
6.3
667.4
(88.3)
LOSS FOR THE YEAR
(1,858.0)
(149.3)
(2,666.4)
(30.3)
PROFIT (LOSS) FOR THE YEAR ATTRIBUTABLE TO :
OWNERS OF THE COMPANY
NON-CONTROLLING INTERESTS
(1,987.2)
129.2
(159.7)
10.4
(2,782.0)
115.6
(28.6)
11.8
TOTAL
(1,858.0)
(149.3)
(2,666.4)
(30.3)
EXPENSES
Cost of Services
Depreciation and Amortization
Personnel
Provision for IM2 Legal Case
Marketing
General and Administration
Loss (Gain) on Foreign Exchange - net
Gain on Sale of Available-for-Sale Investment
Amortization of Deferred Gain on Sales and Leaseback of
Towers
Others - net
NET EXPENSES
OPERATING PROFIT
INCOME TAX BENEFIT - Net
1) Translated into U.S. dollars using IDR12,440 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date
2) Percentage changes may vary due to rounding.
6
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As of 31 December 2014 and 2013
(Expressed in Billions of Indonesian Rupiah and Millions of US Dollar)
31 December 2014
IDR
USD (1)
Description
31 December 2013
IDR
Growth (2)
(%)
ASSETS
Current Assets
Non-Current Assets
TOTAL ASSETS
8,591.7
44,663.1
53,254.8
690.6
3,590.3
4,280.9
7,169.0
47,351.9
54,520.9
19.8
(5.7)
(2.3)
LIABILITIES
Current Liabilities
Non-Current Liabilities
TOTAL LIABILITIES
21,147.9
17,911.0
39,058.9
1,700.0
1,439.8
3,139.8
13,494.4
24,508.9
38,003.3
56.7
(26.9)
2.8
TOTAL EQUITY
14,195.9
1,141.1
16,517.6
(14.1)
TOTAL LIABILITIES & EQUITY
53,254.8
4,280.9
54,520.9
(2.3)
1) Translated into U.S. dollars using IDR12,440 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date
2) Percentage changes may vary due to rounding.
CONSOLIDATED STATEMENT OF CASH FLOWS
Full Years Ended 31 December 2014 and 2013
(Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar)
2014
IDR
USD (1)
Net Cash Provided by Operating Activities
7,348.8
590.7
Net Cash Used in Investing Activities
(5,003.6)
(402.2)
Net Cash Used in Financing Activities
(1,057.4)
(85.0)
(41.3)
(3.3)
Net Foreign Exchange Differences from Cash and Cash Equivalents
1,246.5
100.2
Net Increase (Decrease) in Cash and Cash Equivalents
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
2,233.5
179.5
Cash and Cash Equivalents of a Liquidated Subsidiary
CASH AND CASH EQUIVALENTS AT END OF YEAR
3,480.0
279.7
1) Translated into U.S. dollars using IDR12,440 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date
Description
2013
IDR
8,392.1
(9,068.0)
(748.8)
(221.3)
(1,646.0)
3,917.2
(37.7)
2,233.5
STATUS OF DEBT
Facility
Indosat
IDR Bond (IDR Billion)
Bond V
Bond VI
Bond VII
Bond VIII
Shelf Registration
Indosat Bond I Phase I
USD Bond (USD Million)
Amount
Maturity
1,370
320
600
2,700
2017
2015
2016
2019 & 2022
2017, 2019,
2021 & 2024
2,310
650
2020
(First Call
Option in
2015)
Sukuk Ijarah IV
172
2016
Sukuk Ijarah V
300
2019
Shelf Registration
Indosat Sukuk Ijarah I
Phase I
190
2017, 2019 &
2021
Guaranteed Notes -2020
Interest
Series B Fixed 10.65% p.a
Series B Fixed 10.8% p.a
Series B Fixed 11.75% p.a
Series A Fixed 8.625% p.a and Series B Fixed 8.875% p.a
Series A Fixed 10.0% p.a, Series B Fixed 10.3% p.a, Series C
Fixed 10.5% p.a and Series D Fixed 10.7% p.a
Fixed 7.375% p.a
Sharia Bond (IDR Billion)
Fixed Ijarah Return amounting to IDR 5.05 for Series B payable
on a quarterly basis
Fixed Ijarah Return amounting to IDR 6.47 payable on a
quarterly basis
Fixed Ijarah Return amounting to IDR1.60, IDR0.412, and
IDR2.89 for Series A, B and C payable on a quarterly basis
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Facility
IDR Loan (IDR Billion)
RCF - BCA
RCF - BSMI
RCF - IIF / SMI
RCF - BNI
RCF - BNPP
RCF - Mizuho
RCF - SMI
BCA - Investment Credit
Facility
Loans from
non-controlling interest
of APE***
Loans from
non-controlling interest
of LMD***
USD Loan (USD Million)
HSBC France - Coface
HSBC France - Sinosure
9 Year Commercial
Facility
SEK Loan
Amount
Maturity
Interest
1,000
650
750
600
350
250
100
900
2015
2015
2016
2015
2017
2015
2017
2018
Floating rate 1 month JIBOR + 2.75% p.a.
Floating rate 1 month JIBOR + 1.25% p.a.
Floating rate 3 months JIBOR + 2.25% p.a.
Floating rate 1 month JIBOR + 2.50% p.a.
Floating rate 1 month JIBOR + 2.50% p.a.
Floating rate 1 month JIBOR + 1.50% p.a.
Floating rate 3 months JIBOR + 2.45% p.a.
Fixed 10.25% p.a.
15.75
2017
Fixed 10.50% p.a.
1.05
2016
Fixed 2.00% p.a.
78.59
22.10
2019
2019
Fixed 5.69% p.a
Floating Rate based on 6m US LIBOR + 0.35% p.a*
8.11
2016
Floating Rate based on 6m US LIBOR + 1.45% p.a**
102.50
2016 & 2017
Floating Rate based on 6m US LIBOR + 2.87% p.a over
USD21.43; Fixed rate 4.26% p.a over USD55.36; Fixed rate
4.24% p.a over USD25.71
*Swapped to Fixed Rate 4.82% p.a.
**Swapped to Fixed Rate 5.42% p.a.
***APE (PT Artajasa Pembayaran Elektronis) and LMD (PT Lintas Media Danawa) are indirect subsidiaries of the Company
through PT Aplikanusa Lintasarta (”Lintasarta”).
DEBT MATURITIES WITHIN THE NEXT TWELVE MONTHS (FULL AMOUNTS)
Maturity
1Q
2015
2Q
2015
3Q
2015
4Q
2015
Amount
USD
11,071,429
7,859,335
2,210,000
Facility
SEK Loan Tranche B Inst.
HSBC France – Coface Inst.
HSBC France - Sinosure Inst.
RCF – BCA
9 Year Commercial Inst.
SEK Loan Tranche A Inst.
SEK Loan Tranche C Inst.
Bond VI Series B
RCF - BNI
SEK Loan Tranche B Inst.
HSBC France – Coface Inst.
HSBC France - Sinosure Inst.
Guaranteed Notes 2020
9 Year Commercial Inst.
SEK Loan Tranche A Inst.
SEK Loan Tranche C Inst.
RCF - BSMI
RCF - Mizuho
BCA - Investment Credit Facility
Loans from non-controlling interest of APE
IDR
1,000,000,000,000
2,027,775
7,142,857
4,285,714
320,000,000,000
600,000,000,000
11,071,429
7,859,335
2,210,000
650,000,000
2,027,775
7,142,857
4,285,714
650,000,000,000
250,000,000,000
100,000,000,000
3,150,000,000
This document is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States
absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made
by means of a prospectus that may be obtained from the Company and will contain detailed information about the Company and
management, as well as financial statements. The Company does not intend to register any offering in the United States.
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This document contains certain financial information and results of operation, and may also contain certain projections, plans,
strategies, and objectives of Indosat, that are not statements of historical fact which would be treated as forward looking
statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause
actual events and Indosat's future results to be materially different than expected or indicated by such statements. No assurance
can be given that the results anticipated by Indosat, or indicated by any such forward looking statements, will be achieved.
The financial information provided herein is based on Indosat’s consolidated financial statements in accordance with Indonesian
Financial Accounting Standards.
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