PT Tower Bersama Infrastructure Tbk Announces Its First Half 2017 Financial Performance

Posted on 23rd August 2017

JAKARTA, 23 August 2017 - PT Tower Bersama Infrastructure Tbk. ("TBIG") today released its interim financial statements for the six months period ended 30 June 2017.

Financial Highlights and Operational Indicators

During the six months ended 30 June 2017, TBIG generated revenue and EBITDA amounting to Rp1,941 billion and Rp1,683 billion, respectively. Using the second quarter 2017 results on an annualized basis, revenue and EBITDA reached Rp3,939 billion and Rp3,418 billion, respectively.

As of 30 June 2017, TBIG had 22,175 tenants and 13,210 telecommunication sites. The Company’s telecommunication sites comprised 13,158 telecommunication towers and 52 DAS networks. With total tower tenants amounting to 22,123 on tower sites, the Company’s tenancy ratio is 1.68.

“In the first six months of 2017, we added 1,750 tenancies of which 619 were telecommunication towers on a gross organic basis. The growing collocation demand from our customers has improved our tenancy ratio to 1.68 from 1.63 at the end of 2016. As our telecom customers expand and increase the density of their networks, we have continued to strengthen our operations throughout the country. Based on our current order book, we are raising our guidance for the full year 2017 to an organic addition of 2,700 tenants,” commented Hardi Wijaya Liong, CEO of TBIG.

Total debt as of 30 June 2017, valuing USD loans at their hedged exchange rate, was Rp17,406 billion and gross senior debt was Rp12,163 billion while cash balance was Rp191 billion, resulting in net debt of Rp17,215 billion and net senior debt of Rp11,972 billion. Using the second quarter 2017 annualized EBITDA, the net senior debt to EBITDA ratio is 3.5x, and net debt to EBITDA ratio is 5.0x.

“In the 2nd quarter, we called our USD 300mn Bond which had a coupon rate of 4.625%. We refinanced it with competitively priced USD bank loans priced at Libor + 1.75%, reducing our effective interest cost. We have reduced our leverage to 5.0x net debt to annualized EBITDA, from 5.1x, even after paying our 2016 final dividend of Rp 665bn and having spent significant capex for our organic growth”, remarked Helmy Yusman Santoso, CFO of TBIG.

“Our predictable cashflows are supported by 10 year, guaranteed revenues from high quality telecom operators. We have sufficient borrowing headroom under our existing covenants and have ample committed undrawn bank facilities. We have the ability to finance any acquisitions and to fund the substantial organic build-to-suit orders we receive from our customers,” added 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:

Corporate Secretary:

Helmy Yusman Santoso – Tower Bersama Group

Telp. (62-21) 2924 8900

Email: corporate.secretary@tower-bersama.com

Investor Relations:

Veronica Jordan

Telp. (62-21) 2924 8900

Email: veronica.jordan@tower-bersama.com

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