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

Posted on 20th May 2019

JAKARTA, 20 May 2019 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the three months ended 31 March 2019.

Financial Highlights and Operational Indicators

 During the three months ended 31 March 2019, TBIG generated revenue and EBITDA amounting to Rp1,131 billion and Rp965 billion, respectively. Using the first quarter 2019 results on an annualized basis, revenue and EBITDA reached Rp4,524 billion and Rp3,862 billion, respectively.

 As of 31 March 2019, TBIG had 25,998 tenants and 15,192 telecommunication sites. The Company’s telecommunication sites comprised 15,131 telecommunication towers and 61 DAS networks. With total tower tenants amounting to 25,937 on tower sites, the Company’s tenancy ratio is 1.71.

 “In the first quarter of 2019, our portfolio expanded by 510 tenancies, which consisted of 127 telecommunication sites and 383 collocations. As such, our tenancy ratio increased slightly to 1.71x from 1.69x at the end of last year.  We continue to assist our telco customers in expanding their network coverage throughout the country,” commented Hardi Wijaya Liong, CEO of TBIG.

Total gross debt as of 31 March 2019, valuing USD loans at their hedged exchange rate, was Rp19,887 billion and gross senior debt was Rp12,700 billion while cash balances were Rp235 billion, resulting in net debt of Rp19,652 billion and net senior debt of Rp12,465 billion. Using the first quarter 2019 annualized EBITDA, the net senior debt to EBITDA ratio is 3.2x, and net debt to EBITDA ratio is 5.1x.

Helmy Yusman Santoso, CFO of TBIG commented, “Although the Group’s revenue growth was affected by the one-off discontinuation of Internux (Bolt) tenancies at the end of December 2018, our leverage remains stable at 5.1x, well within our bond covenants of not more than 6.25x for gross debt (at the hedged rate of debt) over last quarter annualised EBITDA.    We continue to adhere to a conservative strategy of hedging all of our debt with life-of-debt hedges which match the maturity of the debt. Our credit providers remain committed to providing additional debt as we look to grow organically and inorganically.”

The long-term, guaranteed contracts from our highly rated telecom operators ensure a visible and increasing stream of cashflow, allowing us to continue our shareholder return initiatives.  The visibility of our cashflows also enables us to continue paying regular dividends to our shareholders. We plan to announce the dividend numbers at our AGMS tomorrow,” added Helmy.

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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