PT Tower Bersama Infrastructure Tbk ("TBIG") Announces Its Full Year 2017 Financial Performance

Posted on 21st March 2018

JAKARTA, 21 March 2018 - PT Tower Bersama Infrastructure Tbk. ("TBIG") today, released audited financial statements for the year ended 31 December 2017.

Financial Highlights and Operational Indicators

TBIG generated revenue and EBITDA of Rp4,023 billion and Rp3,495 billion, respectively, for the full year ending 31 December 2017. The Company’s EBITDA margins continued to remain stable at 86.9% for full year 2017. Using the 4th quarter 2017 results, total annualized revenue reached Rp4,192 billion, and annualized EBITDA reached Rp3,632 billion.

As of 31 December 2017, TBIG had 23,018 tenants and 13,509 telecommunication sites. The Company’s telecommunication sites comprised 13,461 telecommunication towers and 48 DAS networks. With total tower tenants amounting to 22,970, the Company’s tenancy ratio was 1.71.

“We are pleased to announce an excellent year of organic growth, where we added 3,009 gross tenancies consisting of 925 telecommunication sites and 2,084 collocations. The significant increase in the collocation tenancies has improved our tenancy ratio from 1.63 in Q4 2016 to 1.71 in Q4 2017,” said Hardi Wijaya Liong, CEO of TBIG.

“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. We plan to announce a full year 2017 dividend payment of between Rp650-750 billion, which is subject to shareholders’ approval at the 2018 AGMS. In addition, we will continue to actively buy back shares from the market when the run-rate EV/EBITDA multiple is below our target range. Based on 4th quarter 2017 annualized EBITDA (“run-rate EBITDA”), and the 4th quarter 2017 net debt (taking into account hedging contracts) and market capitalisation (adjusted for 1.89% treasury shares held at the end of December 2017), the run-rate EV/EBITDA is ~11.9x based on a Rp5,700 share price.”, added Hardi.

Total Debt as of 31 December 2017, valuing USD loans at their hedged exchange rate, was Rp18,353 billion and gross senior debt was Rp12,407 billion while cash balances were Rp407 billion, resulting in net debt of Rp17,946 billion and net senior debt of Rp12,000 billion. Using the 4th quarter 2017 annualized EBITDA, the net senior debt to EBITDA ratio is 3.3x, and net debt to EBITDA ratio is 4.9x, giving us ample borrowing headroom based on the financial covenants contained in our bank and bond facilities.

Helmy Yusman Santoso, CFO of TBIG commented, “The Company’s full year 2017 results incorporate the recent changes in the Accounting Methodology of PSAK 16 as well as the revised Corporate Tax regulations. These changes have no impact on the Company’s revenue, no impact on EBITDA and will not change the Company’s debt calculations and covenants.”

“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 so recent movements in the Rupiah have not had any adverse impact on our business or financials. Our lenders are comfortable with our current leverage at 4.9x net debt to annualized EBITDA,” added Helmy.

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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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