PT Tower Bersama Infrastructure Tbk ("TBIG") Announces Financial Performance for 2023
JAKARTA, March 28, 2024 – PT Tower Bersama Infrastructure, Tbk. ("TBIG") today announced its audited financial statements for the period ending December 31, 2023.
Financial Overview and Operational Indicators
TBIG recorded revenue and EBITDA of IDR 6,641 billion and IDR 5,728 billion, respectively, for the one-year period ending December 31, 2023. The company's EBITDA margin stood at 86.3% for 2023.
As of December 31, 2023, TBIG had 41,227 tenants and 22,475 telecommunications sites. The company's telecommunications sites consisted of 22,357 telecommunications towers and 118 DAS networks. With a total of 41,109 tower leases, the company's tenancy ratio stood at 1.84.
Hardi Wijaya Liong, CEO of TBIG, stated, “In 2023, we added 2,760 gross tenancies, consisting of 744 telecommunications sites and 2,016 collocations to our portfolio. Following the merger of Indosat Ooredoo and Hutchison ("IOH") in 2022, we have been working with IOH on their network integration. Some of the IOH leases that expired were not renewed, resulting in a lower net tenancy addition for 2023.”
As of December 31, 2023, the company’s total debt, when hedged USD-denominated loans are measured using their hedge rate, amounted to IDR 28,202 billion, with total gross senior debt of IDR 625 billion. With a cash balance of IDR 801 billion, the net debt stood at IDR 27,401 billion. Using the annualized fourth-quarter 2023 EBITDA, the net debt-to-EBITDA ratio was 4.8x.
“The company maintains a very strong liquidity profile with diversified funding sources. By the end of 2023, 44% of our debt was in the form of bonds and Rupiah-denominated loans. We continue to access the local Rupiah bond market, with the issuance of PUB VI Phase III worth IDR 2,700 billion in February 2024 at a competitive rate of 6.75% and a tenor of 1 year,” said Helmy Yusman Santoso, CFO of TBIG.
About PT Tower Bersama Infrastructure Tbk
PT Tower Bersama Infrastructure Tbk (“TBIG”) is a telecommunications infrastructure provider for BTS placements by telecommunications operators in Indonesia. TBIG is a publicly listed company on the Indonesia Stock Exchange (IDX), with a majority of its shares owned by Bersama Digital Infrastructure Asia.
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: investor.relations@tower-bersama.com
