PT Tower Bersama Infrastructure Tbk Announces Its Third Quarter 2013 Financial Performance
JAKARTA, 29 November 2013 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its reviewed interim financial statements for the nine months period ended 30 September 2013.
Financial Highlights and Operational Indicators
TBIG generated revenue and EBITDA amounting to Rp1,955 billion and Rp1,600 billion, respectively, for the nine months ended 30 September 2013. This represents a 72% increase in revenue and a 74% increase in EBITDA versus the comparable nine months period of 2012. Using the third quarter 2013 results on an annualized basis, total revenue reached Rp2,735 billion, or 59% higher than the 2012 full year revenue. Annualized EBITDA based on the third quarter reached Rp2,239 billion, or 60% higher than 2012 full year EBITDA.
Total debt as of 30 September 2013, valuing USD loans at their hedged exchange rate, was Rp11,620 billion and gross senior debt was Rp8,306 billion while cash balances were Rp1,675 billion, resulting in net debt of Rp9,944 billion and net senior debt of Rp6,631 billion.
Using the third quarter 2013 annualized EBITDA, the net senior debt to EBITDA ratio is 2.96x, and net debt to EBITDA ratio is 4.44x which are well below the relevant covenants under the Company’s debt programme.
As of 30 September 2013, TBIG had 16,017 tenants and 9,830 telecommunication sites. The Company’s telecommunication sites comprised 8,446 telecommunication towers, 1,040 shelter-only sites, and 344 DAS networks. With total tower tenants amounting to 14,633 on tower sites, the Company’s tenancy ratio is 1.73.
“I am pleased to report that in the first nine months of this year, we completed 1,391 organic build-to-suit telecommunication sites and 2,309 telecommunication tenancies. We remain committed to providing excellent service and timely execution of orders to our telecommunication customers.”, 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 September 2013, TBIG owns and operates 9,830 telecommunication sites serving 16,017 tenants. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.
