Tower Bersama, Tower Company Owned By Conglomerate Edwin Soeryadjaya And Sandiaga Uno Raises Revenue Of Rp2.97 Trillion In Semester I 2021

Illustration. (Photo: Unsplash)

JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) recorded performance growth in the middle of 2021. In the first semester of 2021, the revenue and profit of this tower company grew quite significantly.

In TBIG's financial report published on the Indonesia Stock Exchange (IDX) website, quoted Monday, September 6, the company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno was able to grow revenue by 15.56 percent to Rp2.97 trillion, compared to Rp2.57 trillion. in the first semester of 2020.

TBIG also posted an increase in net profit for the current period to Rp689.83 billion or 28.24 percent growth compared to the first six months of 2020. From the bottom line, TBIG recorded a net profit attributable to owners of the parent entity of Rp663.26 billion, an increase of 29 .92 percent from the same period last year.

CEO of Tower Bersama Infrastructure Hardi Wijaya Liong said last April TBIG had completed the purchase of 3,000 towers from PT Inti Bangun Sejahtera Tbk (IBST). So as of June 30, 2021, TBIG has 37,232 rentals and 19,709 telecommunications sites.

TBIG's telecommunications sites consist of 19,598 telecommunication towers and 111 watershed networks. With a total rental rate of 37,121 telecommunication towers, TBIG's tenancy ratio is 1.89x.

"We are pleased to announce that the purchase of 3,000 towers from IBST was completed in early April. The additional revenue and EBITDA from this acquisition have been incorporated into our second-quarter financial statements. In the first six months of 2021, we have added 3,465 telecommunications sites and 2,180 collocations to our portfolio," said Hardi in a written statement.

The addition of the IBST tower has led to a decrease in TBIG's collocation ratio from 1.98x in the first quarter to 1.89x at the end of the second quarter. As TBIG's telecommunication customers continue to strengthen and expand their network, said Hardi, TBIG expects an increase in demand for collocation.

"With the ongoing COVID-19 pandemic, our management team is taking additional steps to ensure we are safeguarding the health of our employees and maintaining our ability to operate during these uncertain times," Hardi said.