Sinergy Networks Aims For 60 Percent Revenue To Grow Next Year

JAKARTA - The telecommunications infrastructure company PT Sinergi Inti Andalan Prima Tbk (INET) or the Sinergy Networks targets revenue to grow by 60 percent year on year (yoy) to reach the range of IDR 40 billion by next year 2024.

In addition, the company targets profit (profit) to grow 110 percent (yoy) to reach the range of IDR 4 billion next year.

"This high target is in accordance with the plan to develop business lines from the Joint Digital Data Center (BDDC) and digital data centers, as well as connectivity carried out by subsidiaries," said INET Finance Director Bayu Satrio quoting Antara.

Along with this target, the company allocates capital expenditure (capex) of around IDR 5 to IDR 10 billion next year.

INET Director Erick Bermand Siregar explained that next year's capex allocation is far from this year's allocation of around Rp. 70 billion, which is used for the development and development of a subsidiary infrastructure network, namely PT Pusat Fiber Indonesia (PFI).

"Where in the third quarter of 2023 (capex) it has reached Rp. 63.9 billion," said Erick.

Erick explained that there were four strategies carried out by the company in 2023, including increasing employee competence, pricing policies and providing discounts, strengthening positioning as providers of infrastructure services, and adding Point of Presence (Pop) to increase reach to customers.

Until the third quarter of 2023, INET posted revenue which increased 37.08 (yoy) to Rp19.77 billion, compared to Rp14.42 billion in the same period in 2022.

In this period, the company posted a profit of 40.44 percent (yoy) to Rp1.53 billion, compared to Rp1.09 billion in the same period the previous year.

The company's total assets were recorded at IDR 223.74 billion in the third quarter of 2023, or an increase compared to 72.983 billion on December 31, 2023, where the total current assets amounted to IDR 66.48 billion and total non-current assets worth IDR 157.25 billion.