PT Tower Bersama Infrastructure Tbk (TBIG) Announces Its First Quarter 2023 Financial Performance
JAKARTA, 2 May 2023 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the three months ended 31 March 2023.
Financial Highlights and Operational Indicators
During the three months ended 31 March 2023, TBIG generated revenue and EBITDA amounting to IDR1,618 billion and IDR1,395 billion, respectively. Using the first quarter 2023 results on an annualized basis, revenue and EBITDA reached IDR6,471 billion and IDR5,578 billion, respectively.
As of 31 March 2023, TBIG had 41,010 tenants and 21,991 telecommunication sites. The Company’s telecommunication sites comprised 21,880 telecommunication towers and 111 DAS networks. With total tower tenants amounting to 40,899 on tower sites, the Company’s tenancy ratio is 1.87x.
"We are pleased to report another robust quarter of organic growth, adding 597 gross tenancies, consisting of 165 telecommunication sites and 432 collocations. The Group’s net tenancy adds were lower for the quarter primarily due to some non-renewal of expiring tenancies by IOH as they reconfigured their network after the merger between Indosat and Hutchison 3 Indonesia,” remarked Hardi Wijaya Liong, CEO of TBIG.
Total gross debt as of 31 March 2023, valuing USD loans at their hedged exchange rate, was IDR26,511 billion and gross senior debt was IDR3,330 billion. Cash balances as of 31 March 2023 were IDR586 billion, resulting in net debt of IDR25,925 billion and net senior debt of IDR2,744 billion. Using the first quarter 2023 annualized EBITDA, the net debt to EBITDA ratio is 4.6x.
“We are pleased to announce we have executed a new USD 325 million of Revolving Credit Facilities (“RCF”) which will replace our existing RCFs. This new USD 325 million RCF has a bullet maturity till August 2026 and is priced at SOFR plus 125 basis points, our lowest margin to date. The competitive pricing of our debt facilities, on an unsecured basis, reflects the low credit risk and our lenders’ comfort in our business,” commented 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 Bersama Digital Infrastructure Asia.
For more information contact:
Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Telp. (62-21) 2924 8900
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Veronica Jordan
Telp. (62-21) 2924 8900
Email: veronica.jordan@tower-bersama.com
