TBIG - Announces Its Third Quarter 2012 Financial Performance

JAKARTA, 30 October 2012 – PT Tower Bersama Infrastructure Tbk (“TBIG”) today released its interim financial statements for the nine month period ended 30 September 2012.

Financial Highlights and Operational Indicators
TBIG generated revenue and EBITDA amounting to Rp1,138 billion and Rp920 billion, respectively, for the nine months ended 30 September 2012. This represents a 65% increase in revenue and a 70% increase in EBITDA versus the comparable nine month period of 2011. Using the annualized 3rd quarter 2012 results, total revenue reached Rp1,964 billion, or 102% higher than 2011 full year revenue. Annualized EBITDA based on the 3rd quarter 2012 results reached Rp1,619 billion, or 112% higher than 2011 full year EBITDA.

The Indosat tower acquisition was completed on 2 August 2012, hence less than 2 months of revenue from the acquired towers are reflected in TBIG’s financial performance for this quarter.

As of 30 September 2012, TBIG had 12,953 tenants and 8,171 telecommunication sites. The Company’s telecommunication sites comprised 6,714 telecommunication towers, 1,040 shelter-only sites, and 417 DAS networks. With total tower tenants amounting to 11,496, the Company’s tenancy ratio was 1.71.

“The acquisition of 2,500 towers from Indosat is an important milestone for our company. However, we are equally pleased to report another quarter of stellar organic growth. Overall, we were able to add 4,369 tenants during the quarter with a very significant portion of the organic tenant additions coming from collocations and so, despite the significant increase in the number of towers in the quarter, our tenancy ratio only reduced to 1.71 this quarter from 1.80 at the end of the last quarter”, said Hardi Wijaya Liong, CEO of TBIG.

“Over the last few quarters, increasing economies of scale have resulted in continuous improvement in our EBITDA margin. This trend has been continuing, with our EBITDA margin increasing from 79% in 2011 to 81% in the nine months ended 30 September 2012.

Net senior debt as of 30 September 2012 was approximately Rp6,664 billion and using the 3rd quarter 2012 annualized EBITDA, the senior net debt to EBITDA ratio was 4.1x. However, when measuring our leverage ratio against covenants, our banks use the annualized latest month’s EBITDA. Based on the banks’ method, the impact of most of the organic growth and all of the Indosat acquisition are captured. As such, we estimate that our senior net debt to EBITDA ratio as measured by our banks would be less than 3.7x. Given that our covenant requirement is 4.5x, this leaves significant room to use additional senior debt for organic and inorganic growth. We continue to see strong demand for space on our towers for the deployment of radio equipment to cover surging mobile data demand and we remain committed to our telco customers to ensure timely delivery of build to suit towers and collocations”, Hardi added.

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 2012, TBIG owns and operates 8,171 telecommunication sites serving 12,953 tenants. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.

For more information contact:

Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 571 1946
Email: corporate.secretary@tower-bersama.com

Investor Relations:
Email: investor.relations@tower-bersama.com