PT Tower Bersama Infrastructure Tbk (TBIG) Announces Its First Half 2021 Financial Performance

Posted on 3rd September 2021

JAKARTA, 3 September 2021 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the six months ended 30 June 2021.

Financial Highlights and Operational Indicators

During the six months ended 30 June 2021, TBIG generated revenue and EBITDA amounting to IDR2,971 billion and IDR2,593 billion, respectively. Using the second quarter 2021 results on an annualized basis, revenue and EBITDA reached IDR6,197 billion and IDR5,415 billion, respectively.

As of 30 June 2021, TBIG had 37,232 tenants and 19,709 telecommunication sites. The Company’s telecommunication sites comprised 19,598 telecommunication towers and 111 DAS networks. With total tower tenants amounting to 37,121 on tower sites, the Company’s tenancy ratio is 1.89x.

"We are pleased to announce that the acquisition of 3,000 towers from PT Inti Bangun Sejahtera Tbk (“IBST”) was completed in early April.  This additional revenue and EBITDA from this acquisition has now been incorporated into our 2nd quarter financials.  In the first six months of 2021, we have added 3,465 telecommunication sites and 2,180 collocations to our existing portfolio,” commented Hardi Wijaya Liong, CEO of TBIG.

The inclusion of the IBST towers have resulted in a reduction of our tenancy ratio from 1.98x in the 1st quarter to 1.89x at the end of the 2nd quarter.  As our telco customers continue to densify and expand their networks, we expect to see strong demand for collocations. As the Covid-19 pandemic continues, our management team is taking additional measures to ensure we safeguard the health of our employees and preserve our ability to operate during these uncertain times,” added Hardi.

Total gross debt as of 30 June 2021, valuing USD loans at their hedged exchange rate, was IDR26,811 billion and gross senior debt was IDR11,448 billion. Cash balances as of 30 June 2021 were IDR894 billion, resulting in net debt of IDR25,916 billion and net senior debt of IDR10,554 billion. Using the second quarter 2021 annualized EBITDA, the net senior debt to EBITDA ratio is 1.9x, and net debt to EBITDA ratio is 4.8x.

“Our net debt to LQA EBITDA increased from 4.4x to 4.8x in the 2nd quarter of 2021. This increase was primarily due to the completion of the 3,000 IBST tower acquisition. The various debt refinancing we undertook during the 1st half of 2021 has extended the maturity profile of our debt and reduced our all-in financing cost.    We have continued to hedge our debt with life-of-debt hedges which match the maturity of the debt,” remarked 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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