JAKARTA - The tower company of the Djarum Group belonging to the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR) was able to record a positive performance by posting an increase in net profit of IDR 3.44 trillion throughout 2022. This figure has slightly increased by 0.43 percent compared to the achievement in 2021.
In the company's financial report quoted Monday, March 27, Sarana Menara's net profit was supported by the company's revenue which reached Rp11.03 trillion throughout 2022. This revenue rose 27.8 percent compared to the same period last year which amounted to Rp8.63 trillion.
This revenue was driven by income from several TOWR customers, namely PT Indosat Tbk (ISAT) which reached Rp4.12 trillion, an increase of 219.9 percent compared to 2021 which reached Rp1.28 trillion. Then the revenue from PT XL Axiata Tbk (EXCL) was Rp3.25 trillion, an increase of 31.39 percent compared to 2021 of Rp2.47 trillion, and from PT Telekomunikasi Selular or Telkomsel of Rp1.69 trillion from Rp1.21 trillion, an increase of 39.4 percent on an annual basis or year on year (yoy).
TOWR's revenue increase also increased the cost of revenue by 24.54 percent to IDR 2.91 trillion, from IDR 2.34 trillion on an annual basis. However, TOWR's gross profit also increased to IDR 8.12 trillion, from IDR 6.29 trillion in 2021.
This gross profit rose 29.01 percent yoy. However, TOWR's net profit only experienced a slight increase, which was 0.43 percent.
TOWR's net profit in 2022 is IDR 3.44 trillion, up slightly from 2021 which amounted to IDR 3.42 trillion. If you look at the financial statements, the thin increase in TOWR's revenue is due to TO TOWR's financial costs which swelled 74.5 percent to IDR 2.39 trillion in 2022, from IDR 1.37 trillion in 2021.
Adapun biaya keuangan ini terdiri dari pos-pos seperti biaya bunga bank yang naik menjadi Rp1,87 triliun dari Rp1,04 triliun secara tahunan, beban bunga bond naik menjadi Rp307 miliar dari Rp132,4 miliar, hingga beban penambahan bunga atas utang sewa naik dari Rp108 miliar menjadi Rp131 miliar.
As of December 31, 2022, TOWR's total assets fell to IDR 65.62 trillion, from 31 December 2021 which amounted to IDR 65.82 trillion. TOWR's total liabilities also fell from IDR 53.7 trillion at the end of 2021, to IDR 51.19 trillion at the end of 2022.
Meanwhile, TOWR's total equity rose from IDR 12 trillion at the end of December 2021, to IDR 14.4 trillion at the end of December 2022.
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