Tower Companies Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Raise Revenues Of IDR 4.56 Trillion In The Third Quarter Of 2021

Conglomerate Edwin Soeryadjaya together with Sandiaga Uno. (Photo: Instagram @sandiuno)

JAKARTA - The telecommunications tower company, PT Tower Bersama Infrastructure Tbk (TBIG) recorded a brilliant performance in the first nine months of this year. The revenue and net profit of the issuer, which is controlled by the bosses of the Saratoga conglomerate, Edwin Soeryadjaya and Sandiaga Uno, grew in the third quarter of 2021.

In TBIG's financial report, quoted on Thursday, December 9, the company recorded revenue of IDR 4.56 trillion in the third quarter of 2021, up 15.84 percent compared to the third quarter of 2020 which amounted to IDR 3.93 trillion. Meanwhile, net profit attributable to the parent entity reached Rp. 1.08 trillion, up 44.57 percent from the previous Rp. 747.46 billion.

President Director of Tower Bersama Infrastructure Hardi Wijaya Liong said the company is trying to achieve organic growth as telecommunication operators strengthen their networks across the country.

"In the third quarter of this year, we added 801 gross organic rentals consisting of 347 telecommunication sites and 454 collocations," said Hardi Wijaya.

For information, TBIG has 37,983 rentals and 20,049 sites in the third quarter of 2021. The company's telecommunication sites consist of 19,938 telecommunication towers and 111 watershed networks.

With the total number of rentals on telecommunication towers of 37,872, the company's tenancy ratio is 1.90. In addition, the company's cash balance has reached Rp842 billion, bringing the total net loans to Rp26.3 trillion and the total net senior loans being Rp10.57 trillion.

The ratio of net senior loans to EBITDA is 1.9 times and total net loans to EBITDA is 4.7 times.

Finance Director of Tower Bersama Infrastructure Helmy Yusman Santoso added that the company still has a very strong debt structure. So are fully hedged funding sources, diversified funding sources, and commitments to availability from undrawn loans.

"At the end of October, we set a bond offering with a total amount of 400 million US dollars with an interest rate of 2.80 percent for Unsecured Preferred Debt Instruments, which is the minimum spread of Indonesian non-BUMN corporate bonds," he said.

Helmy added, TBIG also continues to regularly access the rupiah bond market through the Sustainable Rupiah Bonds V program with a total amount of up to Rp15 trillion, which is valid until August 2023.