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XL Axiata Swings To $70m Loss For 2014

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Indonesia’s XL Axiata swung to an 891.06 billion rupiah ($70.3 million) loss in 2014, due to higher expenses, acquisition costs and forex losses.

The company, which had reported a 1.03 trillion rupiah profit for the prior year, saw its expenses climb 17.5% to 23.03 trillion rupiah during 2014, the Jakarta Postsaid.

XL’s bottom line was also impacted by the $865 million acquisition acquisition of rival Axis Telecom in March, paid for via loans from shareholders and foreign banks, as well as foreign exchange losses of 1.29 trillion rupiah.

Revenue by contrast grew 10.3% to 23.46 million rupiah, driven by a 42.6% surge in data and VAS revenue. Smartphone users grew by 58% to 16.1 million.

Voice and SMS revenue increased a more modest 3% to 7.94 trillion rupiah and 4.7 trillion rupiah respectively. Original post at Telecom Asia

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Wahengbam Rorrkychand

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