Posted on 30th July 2020
JAKARTA, 30 July 2020 - PT Tower Bersama Infrastructure Tbk. ("TBIG") today released its interim financial statements for the six months period ended 30 June 2020.
Financial Highlights and Operational Indicators
During the six months ended 30 June 2020, TBIG generated revenue and EBITDA amounting to Rp2,577 billion and Rp2,224 billion, respectively. Using the second quarter 2020 results on an annualized basis, revenue and EBITDA reached Rp5,262 billion and Rp4,556 billion, respectively.
As of 30 June 2020, TBIG had 31,039 tenants and 15,893 telecommunication sites. The Company’s telecommunication sites comprised 15,772 telecommunication towers and 121 DAS networks. With total tower tenants amounting to 30,918 on tower sites, the Company’s tenancy ratio is 1.96, up from 1.85 at the end of 2019.
“We organically added 2,517 gross tenancies, consisting of 370 telecommunication sites and 2,147 collocations in the first half of 2020. As our telco customers focus on densifying and expanding their 4G networks, we have seen a strong demand for collocations, which has improved our tenancy ratio to 1.96,“ commented Hardi Wijaya Liong, CEO of TBIG.
Hardi added, “During this global Covid-19 pandemic, we continue to assist our telco customers in their network expansion as well as their ongoing servicing requirements. We operate while taking additional measures to ensure we safeguard the health of our employees during these uncertain times.
”Total debt as of 30 June 2020, valuing USD loans at their hedged exchange rate, was Rp22,562 billion and gross senior debt was Rp10,353 billion while cash balance was Rp762 billion, resulting in a net debt of Rp21,800 billion and a net senior debt of Rp9.591 billion. Using the second quarter 2020 annualized EBITDA, the net senior debt to EBITDA ratio is 2.1x, and net debt to EBITDA ratio is 4.8x.
“Our business has strong cashflow generation, driven by the visible, recurring revenue contracts from our telco customers. Even with such robust top-line growth and the Rp606bn dividend paid in June, we have maintained our leverage at 4.8x, 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,” commented Helmy Yusman Santoso, CFO of TBIG.
“Our effective interest rate has continued to decline with the new USD and IDR bonds we issued at competitive rates at the beginning of this year. We have sufficient liquidity in the form of committed Revolving Credit Facilities, which allows us to grow organically and inorganically, while servicing our debt obligations. 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,” remarked 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:
Helmy Yusman Santoso – Tower Bersama Group
Telp. (62-21) 2924 8900
Telp. (62-21) 2924 8900