PT Tower Bersama Infrastructure Tbk Announces Its Third Quarter 2015 Financial Performance
Posted on 30th November 2015
JAKARTA, 30 November 2015 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the nine months period ended 30 September 2015.
Financial Highlights and Operational Indicators
During the nine months ended 30 September 2015, TBIG generated revenue and EBITDA amounting to Rp2,541 billion and Rp2,152 billion, respectively. Using the third quarter 2015 results on an annualized basis, revenue and EBITDA reached Rp3,476 billion and Rp2,943 billion, respectively.
As of 30 September 2015, TBIG had 19,643 tenants and 12,292 telecommunication sites. The Company’s telecommunication sites comprised 11,291 telecommunication towers, 937 shelter-only sites, and 64 DAS networks. With total tower tenants amounting to 18,642 on tower sites, the Company’s tenancy ratio is 1.65.
Hardi Wijaya Liong, CEO of TBIG, remarked, "During the first nine months of the year, we added 573 sites and 1,279 tenancies to our portfolio. We continue to focus on building towers and adding tenants for our business. With over 83% of our long-term contracted revenue from highly rated Indonesian telcos, we generate predictable and recurring cashflows."
Total debt as of 30 September 2015, valuing USD loans at their hedged exchange rate, was Rp15,453 billion and gross senior debt was Rp 7,833 billion while cash balances were Rp363 billion, resulting in net debt of Rp15,090 billion and net senior debt of Rp7,470 billion. Using the third quarter 2015 annualized EBITDA, the net senior debt to EBITDA ratio is 2.5x, and net debt to EBITDA ratio is 5.1x.
Helmy Yusman Santoso, CFO of TBIG commented, "Early this month, we closed a USD275 million bank facility, our lowest cost and longest dated bank facility, with significant demand from our credit providers. Our lenders are comfortable with our leverage at ~5x net debt to annualized EBITDA. We have a prudent hedging strategy and have already hedged this new facility from foreign exchange risk with life-of-debt hedges which match the maturity of the debt. In addition, we maintain a fully committed USD300 million bank facility that is undrawn."
Hardi added, "Last week, we announced substantial shareholder initiatives. We expect to spend around IDR 1 trillion on dividends and/or share buy-backs in 2016. As an infrastructure company, we build long life assets, which are supported by 10 year guaranteed contracts. The visibility of these recurring cashflows enables us to undertake significant share buybacks and/or dividends while keeping us comfortably under our debt covenants."
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
Phone: (62-21) 571 1946