Tower Bersama Infrastructure Tbk Rated BB by Fitch According to BAC Company Report
01 Aug 2012 • by Natalie Aster
LONDON – In February 2012 Fitch agency rated Tower Bersama Infrastructure Tbk as ‘BB’ and gave a stable outlook. This rating directly followed the agreement between Tower Bersama and PT Indosat Tbk for the purchase and leaseback of 2,500 telecom towers. The agreement also included a potential payment of USD 113 M maximum to Indosat within the next 10 years. Indosat towers are expected to bring over 25% of total revenues to Tower Bersama.
Tower Bersama is an example of successful business expansion. In 2011 it was able to add 44.5% and 44.2% to its revenue and gross profit, respectively. The indices amounted IDR 970 B and IDR 826.8 B. Operating and net income reached IDR 707.5 B and IDR 474.4 B, respectively, which is a 52.6% and 45.2% increase.
For the Q1 2012 the result was also strong. Revenue amounted IDR 309.5 B, gross profit equaled IDR 263.1 B, operating income reached IDR 227 B, and net income was IDR 141.8 B. Total number of tenants and telecommunication sites comprised 7,680 and 5,100, respectively. Among telecommunication sites there were 3,643 telecommunication towers, 1,040 shelter-only sites and 417 DAS networks. Company’s tenancy ratio improved to 1.71.
Founded in 1999 and headquartered in Jakarta (Indonesia), Tower Bersama Infrastructure engages in production and maintenance of telecommunication towers and infrastructure, as well as wireless services in Indonesia. Company operates through its main subsidiaries: PT United Towerindo, PT Tower Bersama, PT Batavia Towerindo, PT Telenet Internusa, PT Prima Media Selaras, PT Bali Telekom, and PT Triaka Bersama. Other subsidiaries (operated by the main ones) are: PT Tower One, PT Metric Solusi Integrasi, PT Solusi Menara Indonesia, PT Solu Sindo Kreasi Pratama, PT Mitrayasa Sarana Informasi, PT Towerindo Konvergensi. Major customers include Telkom Flexi, Telkomsel, XL, Mobile-8, HCPT, Bakrie Telecom, NTS.
Get full disclosure on the company’s activities, business possibilities and threats, experts’ forecasts from the report Tower Bersama Infrastructure Tbk Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Tower Bersama Infrastructure Tbk Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jul, 2012
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