PT Tower Bersama Infrastructure Tbk Announces Its First Quarter 2012 Financial Performance
JAKARTA, 18 April 2012 - PT Tower Bersama Infrastructure, Tbk. (“TBIG”) today released its interim financial statements for the three months period ended 31 March 2012.
Financial Highlights and Operation All Indicators
TBIG generated revenue and EBITDA amounting to Rp310 billion and Rp245 billion, respectively, for the three months ended 31 March 2012 (“first quarter 2012”). This represents a 45% increase in revenue and a 47% increase in EBITDA versus the comparable three month period of 2011. Using the first quarter 2012 results on an annualized basis, total revenue reached Rp1,238 billion, or 28% higher than the 2011 full year revenue. Annualized EBITDA based on the first quarter reached Rp981 billion, or 28% higher than 2011 full year EBITDA.
Gross debt as of 31 March 2012 was Rp3,586 billion while cash balances were Rp414 billion, resulting in net debt of Rp3,172 billion. Using the first quarter 2012 annualized EBITDA, the net debt to EBITDA ratio is 3.2x. This net debt to EBITDA ratio is well below the relevant covenant of 4.5x under the Company’s debt programme.
As of 31 March 2012, TBIG had 7,680 tenants and 5,100 telecommunication sites. The Company’s telecommunication sites comprised 3,643 telecommunication towers, 1,040 shelter-only sites, and 417 DAS networks. With total tower tenants amounting to 6,223 on tower sites, the Company’s tenancy ratio improved to 1.71.
"In this last quarter, we continued to work hard to deliver growth and improve our overall financial performance. We added 678 tenants through organic growth, with majority of these new tenants coming from collocations on existing towers. This resulted in an increase in our tenancy ratio from 1.63 to 1.71 and a reduction in our net debt to EBITDA from 3.4x to 3.2x. Compared to the first quarter of 2011, we grew revenue and EBITDA by 45% and 47% respectively. The most pleasing aspect of this result is that we achieved the fastest organic growth in our Company’s history while reducing our overall leverage ratio.”, commented 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 31 March 2012, TBIG owns and operates 5,100 telecommunication sites serving 7,680 tenants, and this amount continues to grow in line with the high demand from telecommunications operators. 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
Phone: (62-21) 2924 8900
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Email: investor.relations@tower-bersama.com
