PT Tower Bersama Infrastructure Tbk (TBIG) Announces Its First Half 2019 Financial Performance

Posted on 21st August 2019

JAKARTA, 21 August 2019 - PT Tower Bersama Infrastructure Tbk. ("TBIG") today released its interim financial statements for the six months period ended 30 June 2019.

Financial Highlights and Operational Indicators

During the six months ended 30 June 2019, TBIG generated revenue and EBITDA amounting to Rp2,277 billion and Rp1,941 billion, respectively.  Using the second quarter 2019 results on an annualized basis, revenue and EBITDA reached Rp4,585 billion and Rp3,903 billion, respectively.

As of 30 June 2019, TBIG had 26,713 tenants and 15,344 telecommunication sites. The Company’s telecommunication sites comprised 15,272 telecommunication towers and 72 DAS networks. With total tower tenants amounting to 26,641 on tower sites, the Company’s tenancy ratio is 1.74, up from 1.71 in the first quarter of 2019.

“In the first six months of 2019, we organically added 288 telecommunication sites and 948 collocations to our existing portfolio.  As our telecommunication customers densify and expand their 4G networks across the country, we expect to continue adding new sites and collocations and believe our tenancy ratio will continue to improve. Based on our order book, we maintain our guidance of 3,000 tenant additions for the full year 2019.” commented Hardi Wijaya Liong, CEO of TBIG.

Total debt as of 30 June 2019, valuing USD loans at their hedged exchange rate, was Rp20,742 billion and gross senior debt was Rp12,806 billion while cash balance was Rp296 billion, resulting in a net debt of Rp20,446 billion and a net senior debt of Rp12,510 billion. Using the second quarter 2019 annualized EBITDA, the net senior debt to EBITDA ratio is 3.2x, and net debt to EBITDA ratio is 5.2x.

“Last month, we prepaid in full our Facility A Term Loan of USD 400 million with a new USD 375 million RCF that has a bullet maturity of 5 years and 6 months.  This new USD 375 million RCF is the lowest cost and the longest maturity Revolving Credit Facilities (“RCF”) we have achieved till  date. We are pleased to report that  this latest deal further increases the average tenor of our debt structure.  We continue to maintain our prudent hedging strategy by using life-of-debt derivative hedging instruments,” remarked Helmy Yusman Santoso, CFO of TBIG.

Helmy added, “Our long term, guaranteed contracts from our telecommunication customers provide excellent coverage over all of our future debt obligations. We have ample borrowing headroom based on the financial covenants contained in our bank and bond facilities, which allows us to grow organically and inorganically, while servicing out debt obligations.”

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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