PT Tower Bersama InfrastructureTbk (TBIG) Announces Its Third Quarter 2020 Financial Performance
Posted on 26th October 2020
JAKARTA, 26 October 2020 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the nine months period ended 30 September 2020.
Financial Highlights and Operational Indicators
During the nine months ended 30 September 2020, TBIG generated revenue and EBITDA amounting to Rp3,937 billion and Rp3,404 billion, respectively. Using the third quarter 2020 results on an annualized basis, revenue and EBITDA reached Rp5,440 billion and Rp4,720 billion, respectively.
As of 30 September 2020, TBIG had 31,703 tenants and 16,215 telecommunication sites. The Company’s telecommunication sites comprised of 16,093 telecommunication towers and 122 DAS networks. With total tower tenants amounting to 31,581 on tower sites, the Company’s tenancy ratio is 1.96.
Hardi Wijaya Liong, CEO of TBIG, commented, "We have already surpassed our full year 2020 guidance of 3,000 tenancies with our gross organic adds to 3,319 tenancies in the first nine months of 2020. The continued robust growth in collocations has improved our tenancy ratio to 1.96, from 1.85 at the end of 2019. We are focused on executing the orders we receive from our telecommunication customers as they densify their networks throughout the country.”
Total debt as of 30 September 2020, valuing USD loans at their hedged exchange rate, was Rp22,407 billion and gross senior debt was Rp10,200 billion while cash balances were Rp574 billion, resulting in net debt of Rp21,833 billion and net senior debt of Rp9,625 billion. Using the third quarter 2020 annualized EBITDA, the net senior debt (hedged rate) to EBITDA ratio is 2.04x, and net debt (hedged rate) to EBITDA ratio is 4.63x, well within our bond covenants of not more than 6.25x for gross debt (hedged rate) over last quarter annualised EBITDA.
“Our business has strong cashflow generation, driven by the predictable, recurring revenue contracts from our telco customers. Even with the Rp606bn dividend paid in June, our robust collocation growth has reduced our leverage ratio significantly from 5.04x at the end of 2019 to our current 4.63x level,” remarked Helmy Yusman Santoso, CFO of TBIG.
Helmy continued, “Our credit providers remain committed to supporting us as we look to grow organically and inorganically. In September, we put in place a new Continuous Rupiah Bond IV program with a total size of up to Rp7 trillion, valid for two years. We have strong operational cashflow and significant committed Revolving Credit Facilities in place.”
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