Apr 19, 2012

Tower Bersama 1Q profit rises 41.15%

Tower provider PT Tower Bersama Infrastructure Tbk (TBIG) posted a 41.15% increase in net profit for the first 3 months of this year on the back of the sales growth.
Tower Bersama booked Rp141.84 billion net profit or Rp31.13 share in 1Q 2012 from Rp100.49 billion or Rp22.06 a share in 1Q 2011. 
Operating profit rose 44.10% to Rp227.19 billion from Rp157.66 billion, sending its margin at 73.39% from 73.68%. 
TBIG's gross profit increased 42.53% to Rp263.09 billion from Rp184.59 billion, while revenue surged 44,65% to Rp309.53 billion from Rp213.99 billion. The provider posted 5.19% ROE, a slight increase from 4.05% a year earlier.
As of 31 March 2012, TBIG had 7,680 tenants and 5,100 telecommunication sites. Tower Bersama sites comprised 3,643 telecommunication towers, 1,040 shelter-only sites, and 417 DAS networks. With total tower tenants amounting to 6,223 on tower sites, the company’s tenancy ratio improved to 1.71.
"In this last quarter, we continued to work hard to deliver growth and improve our overall financial performance. We added 678 tenants through organic growth, with majority of these new tenants coming from collocations on existing towers. This resulted in an increase in our tenancy ratio from 1.63 to 1.71 and a reduction in our net debt to EBITDA from 3.4x to 3.2x. Compared to the first quarter of 2011, we grew revenue and EBITDA by 45% and 47% respectively," said CEO Hardi Wijaya Liong in press statement.

Disclosure: No position at the stock mentioned above. 

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