PT Tower Bersama InfrastructureTbk ("TBIG") Announces Its First Quarter 2018 Financial Performance

Posted on 28th May 2018

JAKARTA, 28 May 2018 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the three months ended 31 March 2018.

Financial Highlights and Operational Indicators

During the three months ended 31 March 2018, TBIG generated revenue and EBITDA amounting to Rp1,036 billion and Rp895.5 billion, respectively. Using the first quarter 2018 results on an annualized basis, revenue and EBITDA reached Rp4,145 billion and Rp3,582 billion, respectively.

As of 31 March 2018, TBIG had 23,661 tenants and 13,557 telecommunication sites. The Company’s telecommunication sites comprised 13,500 telecommunication towers and 57 DAS networks. With total tower tenants amounting to 23,604 on tower sites, the Company’s tenancy ratio is 1.75.

“In the first quarter of 2018, our portfolio expanded by 643 tenancies, which consisted of 48 telecommunication sites and 595 collocations. This significant increase in collocations resulted in an increase in our tenancy ratio to 1.75x from 1.71x at the end of last year,” commented Hardi Wijaya Liong, CEO of TBIG.

Hardi added, “With approximately 52% of our sites located ex-Java, we are well positioned to continue to organically grow our business as our telecom customers densify their networks throughout the country.  We are comfortable with our guidance of 2,500 tenant growth for the full year 2018.”

Total gross debt as of 31 March 2018, valuing USD loans at their hedged exchange rate, was Rp18,084 billion and gross senior debt was Rp12,138 billion while cash balances were Rp926 billion, resulting in net debt of Rp17,158 billion and net senior debt of Rp11,212 billion. Using the first quarter 2018 annualized EBITDA, the net senior debt to EBITDA ratio is 3.1x, and net debt to EBITDA ratio is 4.8x.

Helmy Yusman Santoso, CFO of TBIG commented, “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 and all of our hedges remain effective.  Our credit providers are supportive of our business and have committed debt facilities which enable us to continue to grow both organically and inorganically.  Even with such robust top-line growth, our leverage has reduced to 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.”

“At our recent AGMS, we refreshed our share buy-back approvals.  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 1st quarter 2018 annualized EBITDA (“run-rate EBITDA”), the 1st quarter 2018 net debt (taking into account hedging contracts), and market capitalisation (adjusted for 1.97% treasury shares held at the end of March 2018), the run-rate EV/EBITDA is ~11x based on a Rp5,000 share price,” commented 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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