Mitratel consistently outperforms its industry

24 November 2022 15:39

JAKARTA. The revenue of PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel in Q3 2022 reportedly climbed 11.5% year-on-year (yoy) to IDR 5.6 trillion from IDR 5.02 trillion in Q3 2021. This company, a second-tier subsidiary of PT Telkom, also recorded 18.1% yoy growth in its net profit from IDR 1.03 trillion to IDR 1.22 trillion.

Theodorus Ardi Hartoko, President Director of Mitratel, also known as Teddy, claimed that the company’s consistent growth managed to boost its EBITDA by 15.7% yoy. “The EBITDA is expected to continue to rise as the colocation increases, especially due to the expansive coverage of towers outside Java,” he said in the official release earlier today (24/11).

According to Teddy, Mitratel’s growth has indeed shown consistency throughout the first to the third quarter of 2022, even scoring a greater rate than the average of the industry. “This is what makes Mitratel’s profitability significantly rises compared to last year’s record,” he added.

As of now, Mitratel has a tenancy ratio of 1.44, with 58% of its towers are located outside Java. It has allowed the company to grow through the expansion of cellular operator services across Indonesia. Until the third quarter of 2022, Mitratel reportedly manages 35,051 telecommunication towers following the earlier acquisition of 6,000 towers of PT Telkomsel. Teddy believes that Mitratel has low leverage and zero exposure to the risk of foreign currency exchange instability. (AM/ZH)

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