Mitratel Earns IDR 1.79 Trillion Profit In 2023

JAKARTA - PT Dayamitra Telekomunikasi Tbk or Mitratel (MTEL) posted a net profit that grew 12.6 percent year on year (yoy) from IDR 1.79 trillion in 2022 to IDR 2.01 trillion throughout 2023.

President Director of Mitratel Theodorus Ardi Hartoko alias Teddy in Jakarta, Thursday, March 7, explained that net profit was supported by revenues of Rp. 8.59 trillion during 2023, or grew 11.2 percent (yoy) compared to the previous year.

He explained that the tower leasing rental business was the largest contributor to Rp7.14 trillion, or grew 12.0 percent (yoy), while income from the fiber optic segment resulted in revenue of Rp207 billion.

"Mitratels maintain operational effectiveness by recording an operational burden of IDR 4.96 trillion during 2023, or grew 8.3 percent (yoy)," said Teddy, quoted from Antara.

The company recorded an EBITDA of IDR 6.92 trillion, or a 12.7 percent jump, with the EBITDA margin getting better from 79.5 percent in 2022 to 80.5 percent in 2023.

In 2023, Mitratel has added 2,596 towers, so it currently has 38,014 towers, by building a new (organic) tower and acquiring nearly 2,000 towers.

Mitratel is also trusted as one of the main partners in developing fiber portfolios to meet the needs of cellular operators for low-late networks in line with the development of 5G technology.

This is reflected in Mitratel's achievement in increasing the fiber optic reach of 15,880 KM during 2023. With this addition, Mitratel's total fiber optic length reached 32,521 KM at the end of 2023 or grew 95.4 percent (yoy).

In the midst of the consolidation trend, Mitratel recorded an increase in the number of collocations from 16,588 to 19,395 tenants, or an increase of 16.9 percent.

Thus, the number of tenants also grew 10.4 percent from 52,006 to 57,409 tenants. This increase has an impact on the tenancy ratio from 1.47x to 1.51x.

"Business contributions outside Java are reflected in tenant growth of 12 percent, or higher than in Java, which has a growth of 9 percent," said Teddy.