EXCL – IDR8 tn capex allocation in 2024

EXCL – IDR8 tn capex allocation in 2024 XL Axiata (EXCL) has allocated around IDR8 tn for this year's capex, which most of it will be used for; supporting the development of data services and convergence business networks. This is due to EXCL's expansion plan this year, which is to increase and expand its Fixed Mobile Convergence (FMC) business. Thus, EXCL targets a high single digit revenue growth this year. Note that, EXCL posted revenue of IDR32.32 tn (+10.91% yoy) and net profit of IDR1.27 tn (+14.57% yoy) in 2023. (Source : Kontan)