PT Tower Bersama Infrastructure Tbk ("TBIG") Announces Its Full Year 2018 Financial Performance
Posted on 29th March 2019
JAKARTA, 29 March 2019 – PT Tower Bersama Infrastructure Tbk. ("TBIG") today, released audited financial statements for the year ended 31 December 2018.
Financial Highlights and Operational Indicators
TBIG generated revenue and EBITDA of Rp4,318 billion and Rp3,720 billion, respectively, for the full year ending 31 December 2018. The Company’s EBITDA margins continued to remain stable at 86.1% for full year 2018. Using the 4th quarter 2018 results, total annualized revenue reached Rp4,601 billion, and annualized EBITDA reached Rp3,954 billion.
As of 31 December 2018, TBIG had 25,518 tenants and 15,091 telecommunication sites. The Company’s telecommunication sites comprised 15,032 telecommunication towers and 59 DAS networks. With total tower tenants amounting to 25,459, the Company’s tenancy ratio was 1.69.
Hardi Wijaya Liong, CEO of TBIG, said, “We are pleased to announce an excellent year of growth, where we added 3,732 gross tenancies consisting of 2,005 telecommunication sites and 1,727 collocations. We saw very robust organic growth in 2018, having added 2,612 organic gross tenancies. In addition to organic growth, we also took control of two listed towercos in the 4th quarter of 2018, PT Gihon Telekomunikasi Indonesia Tbk (“GHON”) and PT Visi Telekomunikasi Infrastruktur Tbk (“GOLD”). These two acquisitions added 1,120 tenancies and 859 telecommunication sites to our portfolio.”
“We have consolidated GHON into our accounts effective the 1st of October 2018, while GOLD was acquired at the end of December 2018 so the full financial impact of these acquisitions will be seen in our Q1 2019 accounts. The Group’s net tenancy adds were lower for the year primarily due to the one-off discontinuation of Internux (Bolt) tenancies at the end of December 2018,” added Hardi.
Total Debt as of 31 December 2018, valuing USD loans at their hedged exchange rate, was Rp20,452 billion and gross senior debt was Rp13,263 billion while cash balances were Rp221 billion, resulting in net debt of Rp20,231 billion and net senior debt of Rp13,042 billion. Using the 4th quarter 2018 annualized EBITDA, the net senior debt to EBITDA ratio is 3.3x, and net debt to EBITDA ratio is 5.1x, giving us ample borrowing headroom based on the financial covenants contained in our bank and bond facilities.
Helmy Yusman Santoso, CFO of TBIG commented, “We continue to adhere to a conservative strategy of hedging all of our debt with life-of-debt hedges which match the maturity of the debt so recent movements in the Rupiah have not had any adverse impact on our business or financials.”
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 Saratoga Group and Provident Capital.
For more information contact:
Helmy Yusman Santoso – Tower Bersama Group
Telp. (62-21) 2924 8900
Telp. (62-21) 2924 8900