JAKARTA - PT Sarana Menara Nusantara Tbk (TOWR) posted a revenue increase of 7.2% year on year (yoy) to Rp 1.55 trillion in the second quarter of 2019. In the same period last year, the company’s revenue was recorded at Rp 1.44 trillion.
Based on the company’s public expose sheet, TOWR’s EBITDA in Q2 also surged 5.3% yoy to Rp 1.28 trillion with a margin of 82.9%. In addition, its net profit also rose to Rp 521 billion from Rp 472.5 billion in Q2 last year.
As of Q2, the amount of towers owned by the company increased 8.1% yoy to 18,152 towers, with the number of tenants rising 4.4% yoy to 29,153 tenants and 1,076 tower orders. Until the end of the year, TOWR targets to own around 18,300 towers across Indonesia.
As of July, the company has also completed a 14,500-km fibre optic network. In total, TOWR targets the development of a 31,000-km network this year with 16,600 km left to be completed.
For 2019, TOWR has budgeted capital expenditure (capex) of Rp 3.4-3.5 trillion sourced from the company’s internal cash. The capex is allocated for the development of towers and the company’s fibre optic network. (MS)