PT Tower Bersama Infrastructure Tbk (TBIG) Announces Its Third Quarter 2022 Financial Performance
JAKARTA, 22 November 2022 - PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the nine months ended 30 September 2022.
Financial Highlights and Operational Indicators
During the nine months ended 30 September 2022, TBIG generated revenue and EBITDA amounting to IDR4,922 billion and IDR4,282 billion, respectively. Using the third quarter 2022 results on an annualized basis, revenue and EBITDA reached IDR6,474 billion and IDR5,580 billion, respectively.
As of 30 September 2022, TBIG had 40,691 tenants and 21,666 telecommunication sites. The Company’s telecommunication sites comprised 21,553 telecommunication towers and 113 DAS networks. With total tower tenants amounting to 40,578 on tower sites, the Company’s tenancy ratio is 1.88x.
"In the first nine months of 2022, we have added 2,017 tenancies to our existing portfolio comprising of 1,173 telecommunication sites and 844 collocations. The Group’s net tenancy adds were lower primarily due to the one-off discontinuation of Sampoerna Telecom’s tenancies at the beginning of the year. We are also pleased to report that we have reached commercial agreement for the renewals of the tenancies that were part of our 2012 sale and leaseback transaction with IOH and that were due for expiry in August 2022. We continue to roll out for our existing telco customers and in addition to our order book for new towers and collocations, we have seen an increase in build-to-suit orders for fiber optics,” remarked Hardi Wijaya Liong, CEO of TBIG.
Total gross debt as of 30 September 2022, valuing USD loans at their hedged exchange rate, was IDR26,385 billion and gross senior debt was IDR2,664 billion. Cash balances as of 30 September 2022 were IDR710 billion, resulting in net debt of IDR25,675 billion and net senior debt of IDR1,954 billion. Using the third quarter 2022 annualized EBITDA, the net debt to EBITDA ratio is 4.6x.
“As of the end of the third quarter, 90% of our debt was in fixed-interest local and foreign currency bonds. We also have in place additional interest rate swaps to cover the remaining floating rate borrowings. We have seen our all-in financing costs continue to decline to 6.2% from 7.0% at the end of 2021. As we do not have any material debt amortizations over the next 24 months, we expect to remain relatively insulated from the rising rates environment.” commented Helmy Yusman Santoso, CFO of TBIG.
Helmy added, “Although our nine months YTD revenue has increased year-on-year, in the third quarter, we have seen a reduction in our monthly revenue from IOH due to the expiration of our USD revenue contracts which were part of our 2012 transaction with IOH. However, as part of the agreement, our locked-in contracted revenue has increased. We continue to work with IOH as they optimize their network and expand their coverage across Indonesia.”
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
