Mitratel Tembus' Net Profit Of IDR 1 Trillion And Fiber's Business Grows 104.9 Percent In Semester I 2024

Facing challenges in the telecommunications infrastructure industry, PT Dayamitra Telekomunikasi Tbk (Mitratel) continues to spur healthy and sustainable performance growth by strengthening fundamentals. The Company is also adapting to the latest technological developments to answer market needs.

Performance growth is reflected in the achievement of the first semester of 2024, revenue reached IDR 4.45 trillion, an increase of 7.8 percent from the same period the previous year (year on year / YoY) and net profit reached IDR 1 trillion.

"Income growth is driven by the strong operational performance seen in the increase in the number of towers, growth of tenants, and the deployment of fiber optics," said Mitratel President Director, Theodorus Ardi Hartoko (Teddy), in a written statement, Monday, July 29.

Tenancy ratio also improved to 1.52x from the previous year's position of 1.49x. This shows that the Company is able to optimize assets and successfully align the need for expansion with the availability of production equipment.

The number of Mitratel towers reached 38,581 units as of the end of June 2024, an increase of 5.1 percent on an annual basis. For this achievement, Mitratel maintains its position as the owner of the most towers in Southeast Asia.

Meanwhile, the fiber optic length reached 37,602 kilometers or jumped 37.9 percent in the same period. The increase in the number of towers and fiber optics was successfully offset by the growth in the number of tenants which reached 58,598 tenants, or an increase of 7.1 percent yoy.

Performance improvements are also influenced by efficiency and improvement of the work process by optimizing technology more. Digitalization implemented in various lines, especially marketing, makes it easier for tenants to rent towers and fiber according to their needs.

As a result, profit before tax, interest and amortization (EBITDA) reached IDR 3.69 trillion in the January - June 2024 period. This figure increased by 10.2 percent compared to the same period last year, indicating a better increase in profitability.

The EBITDA margin, which increased to 83.1 percent from 81.2 percent in the previous year, reflects better efficiency in line with the increasing scale of business, the implementation of efficient business schemes, optimizing internal business processes through digitization and being more selective in working on the tower related business segment.

"We always focus on the Company's fundamentals, with monetization of production tools and continuing to strengthen business in the tower ecosystem to ensure healthy and sustainable growth both in terms of revenue and profit," said Teddy.

Mitratel will continue to actively expand its business that is fit with the Company's strategy, including the adoption of new technologies to deal with changes in the industry by making selective strategic partnerships. The implementation of new technologies will complement and strengthen Mitratel's efforts to expand the infrastructure network and equal access to telecommunications to be more optimal.

In determining the Company's action, Mitratel always ensures the creation of Growth Story & Value Creation from these activities.

"In the future, Mitratel will always be committed to remaining the best and growing sustainably in supporting equal distribution and digital sovereignty in Indonesia," concluded Teddy.