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TBIG recorded highest growth in its industry in Q3 2019

14 November 2019 15:12

JAKARTA. PT Tower Bersama Infrastructure Tbk (TBIG) recorded good performance growth in the third quarter (Q3) 2019, with revenue of Rp 1.9 trillion and EBITDA of Rp 230 billion.

Kresna Hutabarat, an analyst at Mandiri Sekuritas, said that in Q3, TBIG's revenue growth reached 9.4% year on year (YoY) with an EBITDA growth of 8.2%, the highest in the non-building construction industry. "This is due to new leasing contracts from Hutchison, Smartfren and Indosat," Hutabarat said in writing on Thursday (14/11) today.

Hutabarat added that TBIG's revenue growth of 1% was above the estimates from Mandiri Sekuritas. During this period, TBIG had an additional 141 telecommunication towers and 1,076 tenants. Its tenancy ratio rose to 1.79 from 1.74 in Q2.

Meanwhile, TBIG's net profit rose by 4.2% in Q3 2019 to Rp 230 billion, 40.1% higher than its net profit in Q2. The growth in net profit was supported by a decrease in its non-operational costs by 6.3%. (KR/AR)

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