TOWR 9M20 net profit grew 19.5% yoy as Company added 5,269 tenancies and 12,244 km of fiber optics lease.
PT. Sarana Menara Nusantara Tbk. ("TOWR" or "Company") released its 9M20 results today with net profit growth of 19.5% yoy from additions of 5,269 tower tenancies and leasing of 12,244 km of fiber optics under long-term contracts.
As of 30 September 2020, TOWR has accumulated 38,615 tenants occupying 21,373 towers and 39,771 kms of fiber-optics connections. Tower tenancy ratio as at 3Q20 has reached 1.81x, up from 1.67x a year ago. TOWR’s consolidated balance sheet leverage, as measured by net debt to annualised EBITDA, stood at a lower 2.4x qoq after capitalising two tower portfolio acquisitions during the past 12 months. ROE for the overall TOWR businesses is also stable at approximately 26%.
Revenues for 9 months reached Rp 5.55 trillion, an increase of 19.3% yoy from Rp 4.65 trillion a year ago. EBITDA reached Rp 4.77 trillion, increasing 23.3% yoy from Rp 3.87 trillion a year ago. Net Profit reached Rp 1.90 trillion, 19.5% yoy growth from Rp 1.59 trillion a year ago
“Our focus remains to be most efficient and cost-effective independent telecom infrastructure provider for our customers. We also want to contribute to the Indonesian telecom industry as we firmly believe our infrastructure plays an important role in Indonesia’s economic recovery from Covid-19, especially given that 90% of Indonesians access the internet thru their handheld devices, based on our estimates,” stated Aming Santoso, CEO of TOWR, Protelindo and iForte.
Company executes on digitalisation of business processes.
“Our ongoing strategy during Covid-19 pandemic is streamlining processes in our businesses to be more efficient and effective in assets management and providing better services to our customers. We are doing this by increasingly digitalising our processes and our teams are working closely with relevant stakeholders including our customers to make this happen.”
Company contributes to social cause during Covid-19.
“We also stand by our intention of giving back to communities. We have three areas for this including donating to victims of natural disaster, conservation of nature’s precious resources and education for the future of the nation. We have donated Rp 9 billion for basic needs and health supplies for those most impacted by Covid-19 including health workers. We continue with our donations to school and college students in places ranging from Aceh to Papua. Also, we contributed to conservation efforts for community forests in East Kalimantan where rare and endangered animal species reside.