PT Tower Bersama Infrastructure Tbk Announces Its First Quarter 2016 Financial Performance
JAKARTA, 18 May 2016 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the three months ended 31 March 2016.
Financial Highlights and Operational Indicators
During the three months ended 31 March 2016, TBIG generated revenue and EBITDA amounting to Rp901.5 billion and Rp784.4 billion, respectively. Using the first quarter 2016 results on an annualized basis, revenue and EBITDA reached Rp3,606 billion and Rp3,138 billion, respectively.
As of 31 March 2016, TBIG had 20,415 tenants and 12,689 telecommunication sites. The Company’s telecommunication sites comprised 11,697 telecommunication towers, 933 shelter-only sites, and 59 DAS networks. With total tower tenants amounting to 19,423 on tower sites, the Company’s tenancy ratio is 1.66.
“We are pleased with our double-digit annualized EBITDA growth. Our focus continues to be on executing build-to-suit and collocation orders for our telecommunication customers. During the first quarter of this year, we added 662 tenancies which consisted of 339 towers and 323 collocations on a gross organic basis. As our telecommunication customers start to roll-out their 4G services and smartphone penetration rates continue to rise, we expect more data demand. This should result in an increase in network roll-out from our customers and therefore, more demand for tower space, which implies increasing tenancy needs. This trend can already be seen in the higher tenancy growth for us as compared to the previous quarter,” commented Hardi Wijaya Liong, CEO of TBIG.
Total gross debt as of 31 March 2016, valuing USD loans at their hedged exchange rate, was Rp16,263 billion and gross senior debt was Rp8,644 billion while cash balances were Rp264 billion, resulting in net debt of Rp15,999 billion and net senior debt of Rp8,380 billion. Using the first quarter 2016 annualized EBITDA, the net senior debt to EBITDA ratio is 2.67x, and net debt to EBITDA ratio is 5.10x.
“Our leverage has improved this quarter even with the significant growth in our organic orders. After taking into account our tenancy growth expectations and projected cash flow, we maintain ample room under our debt covenants even with our recent announcement of a Rp262 billion dividend for the financial 2015. We expect to continue on executing shareholder initiatives including share buy-backs and/or dividends throughout 2016. Moreover, we have continued to focus on operational efficiency and our EBITDA margin has improved to 87.0% for the quarter,” 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:
Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 2924 8900
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Veronica Jordan
Phone: (62-21) 2924 8900
Email: veronica.jordan@tower-bersama.com
