Tower Bersama Infrastructure Tbk Announces Its 30 June 2011 Financial Performance
JAKARTA, 29 July 2011 - PT Tower Bersama Infrastructure, Tbk (“TBIG”) today released its interim first half financial statements for the period ending on 30 June 2011.
Financial Highlights and Operational Indicators
TBIG derived revenue and EBITDA amounting to Rp440.5 billion and Rp344.7 billion, respectively, throughout the first half of 2011. This represents a 57% increase in revenue and a 64% increase in EBITDA versus the first half of 2010. On a current quarter annualized basis, total revenue reached Rp906.0 billion, or 35% higher than 2010 full year revenue. Likewise, annualized EBITDA for the second quarter reached Rp712.1 billion, 39% higher than 2010 full year EBITDA.
Gross debt as of 30 June 2011 was Rp2,368.8 billion while cash balances were Rp376.4 billion, resulting in net debt of Rp1,992.4 billion. Therefore, on Q2 annualized EBITDA basis, the net debt to EBITDA ratio is 2.8x. This net debt to EBITDA ratio is well below the relevant covenant under the Company’s debt programme. As of 30 June 2011, TBIG had 5,381 tenants and 3,610 telecommunication sites. The Company’s telecommunication sites comprised 2,493 telecommunication towers, 707 shelter-only sites, and 410 DAS networks. With total tenants amounting to 4,264 on tower sites, the Company’s tenancy ratio was 1.71.
“A 64% increase in EBITDA compared to results in the first half of 2010 is very pleasing. Throughout the first half of 2011, we have added 652 tenants and have signed a conditional sale and purchase agreement with PT Mitrayasa Sarana Informasi (“Infratel”) for the acquisition of 672 tenants plus an order book. The closing of this acquisition, which is expected to occur in Q3 2011, will take TBIG’s tenancies to 6,053 and number of sites to 4,205. This acquisition will add more than 10% to TBIG’s revenue, the result of which we will be partly seen from Q3 2011 onwards. Given our strong order book, the Company is confident of continuing on its strong growth trajectory.”, explained Helmy Yusman Santoso, Chief Financial Officer.
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 June 2011, TBIG owns and operates 3,610 telecommunication sites serving 5,381 tenants, and this amount continues to grow in line with the high demand from telecommunications operators. TBIG is publicly listed on the Indonesia 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
