PT Tower Bersama Infrastructure Tbk Announces Its First Half 2013 Financial Performance
JAKARTA, 1 August 2013 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the six months period ended 30 June 2013.
Financial Highlights and Operational Indicators
TBIG generated revenue and EBITDA amounting to Rp1,271 billion and Rp1,041 billion, respectively, for the six months ended 30 June 2013 (“first half 2013”). This represents a 96% increase in revenue and a 102% increase in EBITDA versus the comparable six month period of 2012. Using the second quarter 2013 results on an annualized basis, total revenue reached Rp2,615billion, or 52% higher than the 2012 full year revenue. Annualized EBITDA based on the second quarter reached Rp2,136billion, or 53% higher than 2012 full year EBITDA.
Total debt as of 30 June 2013 was Rp10,840 billion and gross senior debt was Rp7,852 billion while cash balances were Rp1,536 billion, resulting in net total debt of Rp9,304 billion and net senior debt of Rp6,316billion.
Using the second quarter 2013 annualized EBITDA, the net senior debt to EBITDA ratio is 2.96x, and net debt to EBITDA ratio is 4.35x which are well below the relevant covenants under the Company’s debt programme.
As of 30 June 2013, TBIG had 15,293 tenants and 9,308 telecommunication sites. The Company’s telecommunication sites comprised 7,924 telecommunication towers, 1,040 shelter-only sites, and 344 DAS networks. With total tower tenants amounting to 13,909 on tower sites, the Company’s tenancy ratio is 1.76.
“Our 2nd quarter results demonstrate our continued focus on operational excellence and timely execution of orders from our telecommunication customers. We organically added 974 tenancies and to finance this robust organic build, we have been working with our lenders to ensure we have competitive financing available, including diversifying our sources of funding with our debut USD bond in April 2013.”,said Hardi Wijaya Liong, CEO 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. As of 30 June 2013, TBIG owns and operates 9,308 telecommunication sites serving 15,293 tenants. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.
