PT Tower Bersama Infrastructure Tbk Announces Its First Half 2015 Financial Performance
Posted on 31st August 2015
JAKARTA, 31 August 2015 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the six months period ended 30 June 2015.
Financial Highlights and Operational Indicators
During the six months ended 30 June 2015, TBIG generated revenue and EBITDA amounting to Rp1,672 billion and Rp1,417 billion, respectively. Using the second quarter 2015 results on an annualized basis, revenue and EBITDA reached Rp3,379 billion and Rp2,858 billion, respectively.
As of 30 June 2015, TBIG had 19,416 tenants and 12,159 telecommunication sites. The Company’s telecommunication sites comprised 11,154 telecommunication towers, 941 shelter-only sites, and 64 DAS networks. With total tower tenants amounting to 18,411 on tower sites, the Company’s tenancy ratio is 1.65.
“In the 1st half of the year, we added 419 towers and 956 tenancies to our portfolio. The decision to no longer recognize Bakrie Telecom tenancies and associated revenue has reduced our overall tenancies for the first half but we continue to execute orders from our telecommunication customers.”, remarked Hardi Wijaya Liong, CEO of TBIG.
Total debt as of 30 June 2015, valuing USD loans at their hedged exchange rate, was Rp14,383 billion and gross senior debt was Rp6,765 billion while cash balances were Rp323 billion, resulting in net debt of Rp14,060 billion and net senior debt of Rp6,442 billion. Using the second quarter 2015 annualized EBITDA, the net senior debt to EBITDA ratio is 2.25x, and net debt to EBITDA ratio is 4.92x.
“We have been hedging our USD debts since 2010 and have continued to maintain a conservative strategy to minimize foreign currency risk. Consequently, we have currently hedged approximately 90% of our USD loans using hedging instruments, with further protection from the USD40m per year of long-term contracted USD revenue we receive. The derivative instruments we have been entering into are life-of-debt hedges, which match the maturity of the debt. Our prudent hedging strategy has proven to be very effective and protects TBIG from the recent headwinds that the Indonesian Rupiah, and other emerging market currencies, have been facing.”, commented Helmy Yusman Santoso, CFO of TBIG.
About PT Tower Bersama Infrastructure Tbk:
PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.
For more information contact:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 571 1946