9M18
Revenue Rp16.9 tn (-0.1% yoy) in line
EBITDA Rp6.2 tn (-0.6% yoy) broadly in line
Net loss Rp145 bn (n/a) much below expectations
Good traction in the topline, OPEX still accomodative, EBITDA gains.
Data yield declined from go-to-market in ex-Java
Given recent 3Q18 results, EXCL still within reach of Revenue and EBITDA 2018F targets
Revised net profits targets: finetuned below EBIT items; forex losses from imported capex and interest expense.
Maintain BUY
Further details:
http://dmia.danareksaonline.com/Upload/20181102 EXCL.pdf
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