PT Tower Bersama Infrastructure Tbk (“TBIG”) Announces Its First Half 2024 Financial Performance

JAKARTA, 30 May 2024 – PT Tower Bersama Infrastructure, Tbk. ("TBIG") today released its interim financial statements for the six months ended 30 June 2024.

Financial Highlights and Operational Indicators

During the six months ended 30 June 2024, TBIG generated revenue and EBITDA amounting to IDR3,414 billion and IDR2,937 billion, respectively. Using the second quarter 2024 results on an annualized basis, revenue and EBITDA reached IDR6,838 billion and IDR5,886 billion, respectively.

As of 30 June 2024, TBIG had 42,177 tenants and 23,327 telecommunication sites. The Company’s telecommunication sites comprised 23,211 telecommunication towers and 116 DAS networks. With total tower tenants amounting to 42,061 on tower sites, the Company’s tenancy ratio is 1.81x.

"We prioritize timely order execution to meet the needs of our telecommunications clients. For the first six months we added 1,325 gross tenancies, consisting of 902 telecommunication sites and 423 collocations,” remarked Hardi Wijaya Liong, CEO of TBIG.

Total gross debt as of 30 June 2024, valuing USD loans at their hedged exchange rate, was IDR27,956 billion and gross senior debt was IDR628 billion. Cash balances as of 30 June 2024 were IDR775 billion, resulting in net debt of IDR27,181 billion. Using the second quarter 2024 annualized EBITDA, the net debt to EBITDA ratio is 4.6x.

“We have continued to deepen our relationships in the IDR bank and bond markets, with 44% of our total debt in IDR denominated debt. As of the end of the second quarter, we have a robust liquidity position with more than IDR 10 trillion in undrawn debt facilities in both IDR and USD. This liquidity, coupled with strong cash flows and diversified funding sources, positions TBIG to confidently manage upcoming debt maturities,” commented Helmy Yusman Santoso, CFO of TBIG.

TBIG 2Q2024 Results

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