PT Tower Bersama Infrastructure Tbk (TBIG) Announces 2022 Financial Performance
JAKARTA, 31 March 2023 – PT Tower Bersama Infrastructure, Tbk. ("TBIG") today, released its audited financial statements for the year ended 31 December 2022.
Financial Highlights and Operational Indicators
For the full year ended 31 December 2022, TBIG generated revenue and EBITDA amounting to Rp6,524 billion and Rp5,662 billion, respectively. The Company’s EBITDA margins were 86.8% for the full year 2022.
As of 31 December 2022, TBIG had 40,884 tenants and 21,870 telecommunication sites. The Company’s telecommunication sites comprised of 21,758 telecommunication towers and 112 DAS networks. With total tower tenants amounting to 40,772, the Company’s tenancy ratio is 1.87.
Hardi Wijaya Liong, CEO of TBIG, commented, “In 2022, we added 2,361 gross tenancies, consisting of 1,398 telecommunication sites and 963 collocations to our portfolio. 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 and in the second half of 2022, some non-renewals of tenancies by IOH.”
Total debt as of 31 December 2022, valuing USD loans at their hedged exchange rate, was Rp27,673 billion and gross senior debt was Rp4,404 billion while cash balance was Rp966 billion, resulting in net debt of Rp26,707 billion and net senior debt of Rp3,438 billion. Using the fourth quarter 2022 annualized EBITDA, the net senior debt (hedged rate) to EBITDA ratio is 0.6x, and net debt (hedged rate) to EBITDA ratio is 4.8x.
“In 2022, we significantly reduced our effective financing costs to 6.1%, from 7.6% in 2021. Our financing costs include the coupon cost, as well as any hedging costs. We have continued to maintain a conservative strategy with life-of-debt hedges to minimize foreign currency risk. The reduction in our financing costs in 2022 was due the lower coupons from the USD bonds we issued in late 2021 as well as more competitive derivative hedges we put in place,” remarked Helmy Yusman Santoso, CFO of TBIG.
“The Company continues to have an extremely strong liquidity profile. In February this year, we once again accessed the IDR bond market under our Continuous Rupiah Bond V program and issued a 1 year IDR 2,486 trillion bond (TBIG Bond V Phase VI) with a fixed interest rate of 6.125%. In the next 12 months, the Company will repay IDR bonds in full using our strong operational cashflows as well as the committed Revolving Credit Facilities we have in place,” added Helmy.
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
