PT Tower Bersama InfrastructureTbk (TBIG) Announces Its Full Year 2021 Financial Performance
Posted on 21st March 2022
JAKARTA, 21 March 2022 – PT Tower Bersama Infrastructure, Tbk. ("TBIG") today, released its audited financial statements for the year ended 31 December 2021.
Financial Highlights and Operational Indicators
For the full year ended 31 December 2021, TBIG generated revenue and EBITDA amounting to Rp6,180 billion and Rp5,429 billion, respectively. Using the fourth quarter 2021 results, total annualized revenue and EBITDA reached Rp6,471 billion and Rp5,760 billion, respectively.
As of 31 December 2021, TBIG had 39,088 tenants and 20,578 telecommunication sites. The Company’s telecommunication sites comprised of 20,466 telecommunication towers and 112 DAS networks. With total tower tenants amounting to 38,976, the Company’s tenancy ratio is 1.90.
Hardi Wijaya Liong, CEO of TBIG, commented, “2021 was a year of record growth, with robust organic growth as well as the acquisition of a tower portfolio. In 2021, we added 7,633 gross tenancies, consisting of 4,348 telecommunication sites and 3,285 collocations to our portfolio.”
Total debt as of 31 December 2021, valuing USD loans at their hedged exchange rate, was Rp27,967 billion and gross senior debt was Rp5,386 billion while cash balance was Rp629 billion, resulting in net debt of Rp27,338 billion and net senior debt of Rp4,757 billion. Using the fourth quarter 2021 annualized EBITDA, the net senior debt (hedged rate) to EBITDA ratio is 0.8x, and net debt (hedged rate) to EBITDA ratio is 4.7x.
“We have a conservative debt structure – fully hedged, diversified funding sources, and ample committed undrawn availability. At the end of October, we priced 5.5 year USD400 million senior unsecured notes at a yield of 2.80% which is the tightest ever spread for a non-SOE Indonesian corporate bond. In addition, we have continued to regularly access the IDR bond market under our Continuous Rupiah Bond V program which is valid until August 2023.” 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:
Helmy Yusman Santoso – Tower Bersama Group
Telp. (62-21) 2924 8900
Telp. (62-21) 2924 8900