"Mitratel proves its performance by maintaining leadership in the Tower market through superior performance and sustainable growth."
Jakarta 31 October 2022 – PT Dayamitra Telekomunikasi Tbk. (MTEL) or Mitratel which operates in the field of providing digital infrastructure and independent telecommunications, managed to record brilliant performance and above the industry average in the period January – September 2022.
The Company’s revenue during the first 9 months of 2022 rose 11.5% on an annual basis to IDR 5.6 trillion compared to the same period last year of IDR 5.02 trillion. This surge in revenue boosted the company’s net profit by 18.1% to IDR 1.22 trillion compared to the previous IDR 1.03 trillion. Likewise, EBITDA increased by 15.6% to IDR 4.4 trillion.
The President Director of PT Dayamitra Telekomunikasi Tbk, Theodorus Ardi Hartoko, stated that Mitratel has proven to have a good track record in developing the tower business since 2010, both organically and inorganically. The company’s business growth in the first-third quarter of 2022 was recorded to consistently grow greater than industry growth by recording an average revenue for 5 years or Compound Annual Growth Rate 2017-202 (CAGR) of 14%. This is what makes Mitratel’s profitability increase more significantly compared to last year. “In the future, we believe that EBITDA will increase in line with the large opportunities for colocation growth at Mitratel Tower, especially outside Java,” said Theodorus, who is usually called Teddy, in an official statement in Jakarta, Monday (31/10/2022).
Teddy explained that the company’s EBITDA margin and net profit margin in the third quarter this year increased to 78.5% and 21.9% respectively. The crucial contribution to this increase in profit was the EBITDA margin from the Tower rental portfolio which increased by 85.1% and the net profit margin increased by 23.4%. Meanwhile, income from tower rentals in the January – September 2022 period shot up 12.9% to IDR 5.07 trillion.
“Mitratel ensures that the performance of the company’s tower rental business is competitive compared to the industry. “Apart from that, Mitratel continues to increase profitability in other businesses,” continued Teddy.
In line with the positive performance of the company’s revenue and profits, the company’s assets were recorded to have increased 37% to IDR 54.9 trillion and equity also increased 124% to IDR 33.2 trillion. Meanwhile, MTEL’s liabilities in September 2022 managed to fall by 14.1% to IDR 21.7 trillion.
The Largest Independent Tower Company in Southeast Asia
Mitratel’s positive financial performance until the third quarter of 2022 is supported by the company’s business fundamentals, especially in terms of operational performance. Teddy explained that in the third quarter the company had succeeded in acquiring 6,000 towers belonging to PT Telekomunikasi Selular (Telkomsel). This corporate action has made Mitratel the largest telecommunications tower company in Southeast Asia with ownership of 35,051 towers and 50,390 tenants.
Aggressive inorganic action coupled with organic development has resulted in Mitratel experiencing the largest tower and tenant growth in Indonesia.
Teddy explained that the increase in the number of towers would be strong capital for the company to expand and support the accelerated implementation of the 5% network in Indonesia. This step also provides positive opportunities for telecommunications operators and tenants to expand the reach of their services, including other supporting businesses.
“For the fiber optic network business, we are targeting to complete the construction of a 9,000-kilometer network by the end of 2022. The fiber optic network is a high-capacity connectivity solution to support the implementation of the 5G network. “This is in line with our business development towards a Digital Infrastructure Company,” said Teddy.
Teddy added that Mitratel has prepared the most complete solution for all telecommunications operators in Indonesia with an attractive business scheme, namely providing bundling solutions in the form of towers, connectivity, edge computing and power to tower. Moreover, 58% of Mitratel tower locations are outside Java and remote areas which have opportunities to expand coverage for telecommunications operators. It is hoped that Mitratel’s advantages will make it easier for all operators to develop telecommunications networks throughout Indonesia, especially outside Java.
