PT Tower Bersama InfrastructureTbk (“TBIG”) Announces Its First Quarter 2024 Financial Performance

JAKARTA, 30 April 2024 – PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the three months ended 31 March 2024.

Financial Highlights and Operational Indicators

During the three months ended 31 March 2024, TBIG generated revenue and EBITDA amounting to IDR1,705 billion and IDR1,465 billion, respectively. Using the first quarter 2024 results on an annualized basis, revenue and EBITDA reached IDR6,819 billion and IDR5,861 billion, respectively.

As of 31 March 2024, TBIG had 41,810 tenants and 22,955 telecommunication sites. The Company’s telecommunication sites comprised 22,838 telecommunication towers and 117 DAS networks. With total tower tenants amounting to 41,693 on tower sites, the Company’s tenancy ratio is 1.83x.

"We are pleased to report another robust quarter of organic growth, adding 837 gross tenancies, consisting of 509 telecommunication sites and 328 collocations. Our proven ability to construct infrastructure across the diverse Indonesian archipelago ensures we remain a key partner for Indonesian telecommunications operators,” remarked Hardi Wijaya Liong, CEO of TBIG.

Total gross debt as of 31 March 2024, valuing USD loans at their hedged exchange rate, was IDR27,730 billion and gross senior debt was IDR627 billion. Cash balances as of 31 March 2024 were IDR696 billion, resulting in net debt of IDR27,034 billion. Using the first quarter 2024 annualized EBITDA, the net debt to EBITDA ratio is 4.6x.

“We continue to actively participate in both the local IDR loan and IDR bond markets, with a significant portion of our debt denominated in Indonesian Rupiah. In February, we issued IDR 2.7 trillion 1 year Bond VI Phase III at a fixed interest rate of 6.75% for a tenor of 370 days,” commented Helmy Yusman Santoso, CFO of TBIG.

TBIG 1Q2024 Results Press Release

About PT Tower Bersama Infrastructure Tbk

PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Bersama Digital Infrastructure Asia