The Tower Company From The Djarum Group Of The Hartono Brothers Conglomerate Has The Potential To Earn IDR 8 Trillion In Revenue By The End Of 2021

Illustration. (Photo: Pixabay)

JAKARTA - The tower company from the Djarum Group belonging to the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR) is optimistic that it can generate revenue growth and EBITDA of more than 8 percent year on year in 2021. The company's optimism stems from organic performance, namely the addition of new towers. , collocation and fiber optics.

Deputy President Director of PT Sarana Menara Nusantara Tbk Adam Gifari estimates that until the end of 2021 the company can record revenue of IDR 8 trillion from organic performance. That number reflects a growth of 8 percent compared to 2020.

"Until September 2021, we have earned Rp 6 trillion in revenue, and will increase by Rp 2 trillion in the fourth quarter of 2021. So so far our income is on track according to the budget set this year," said Adam Gifari in a written statement, quoted Friday 24 December.

If you take into account the contribution from SUPR, which will only be consolidated in the fourth quarter of 2021, Adam continued, the company's total revenue and EBITDA will grow higher.

"After SUPR is consolidated into Protelindo, there will be an additional revenue of around Rp. 2.2 trillion, an increase in long-term contracts of Rp. 10.1 trillion, an increase in EBITDA of almost Rp. 1.9 trillion as well as an increase in debt of around Rp. 24 trillion," he said.

The full SUPR contribution will only be recorded in 2022, while in 2021 it will only be entered in the fourth quarter. Meanwhile, from an operational perspective, TOWR will only integrate and synergize SUPR with Protelindo's operating standards after completing the SUPR debt refinancing process.

"We will also monitor financial policies and strategies, including the maturity profile and portion of our loans with fixed and floating interest rates. So we will review everything comprehensively," he explained.

Currently Protelindo as a subsidiary of TOWR is in the process of conducting a public share tender offer for the acquisition of SUPR.

"The tender offer as the new controller for SUPR has been running for 19 days and will end at the end of December 2021," he explained.