Jakarta (03/01/2023) – PT Dayamitra Telekomunikasi Tbk. (MTEL) in 2022 recorded remarkable performance, with triple double-digit growth. The company recorded a revenue worth IDR 7.72 trillion or increase 12.5% from the previous year’s IDR 6.87 trillion. Net profit rose by 29.3% to IDR 1.78 trillion from IDR 1.38 trillion in the previous year. Meanwhile, EBITDA rose 18.5% to IDR 6,142 trillion from the previous year’s IDR 5,185 trillion.
Mitratel’s President Director, Theodorus Ardi Hartoko, said that the company’s double-digit revenue and net profit growth reflected the success of its organic and inorganic business development programs, which crucially influences its financial performance. Apart from that, the company also continues to focus on operational cost efficiency to reinforce margin profitability.
“12.5% revenue growth and 29.3% rise in net profit in 2022 emphasizes Mitratel’s successful execution of its strategy and business plans. Teddy elaborated that revenue from the tower rental segment in 2022 will still dominate with a value of IDR 6.37 trillion. This tower rental income signifies sustainable growth driven by new towers (built to suit) and colocation, including those from the acquisition of Telkomsel’s tower in July 2022,” said Teddy.
In 2022, Mitratel managed to add 7,212 new towers to its portfolio as well as acquiring 9,412 new tenants. The 6,000 new towers came from the Telkomsel’s tower acquisition. Apart from that, Mitratel is also developing its fiber optic network as a crucial component of the tower ecosystem, totaling 16,641 km of fiber optic, with 6,012 km attained through acquisitions. Organic strategies and corporate actions in 2022 will be the crucial contributors to the company’s performance growth.
Mitratel is an independent telecommunications tower company with the largest growth in towers and subscribers among its competitors from 2017-2022. In fact, its organic growth for CAGR soared by 45% from 2010 to 2022. Apart from that, Mitratel’s business development such as fiber optic, energy-as-service, and edge infra solutions complement its efforts to evolve into a Digital Infraco. This transformation offers the most comprehensive services and solutions to all telecommunications operators in Indonesia.
Mitratel also has no exposure to the risk of foreign currency fluctuations, considering that all loans are denominated in rupiah. Furthermore, the company’s debt even fell to IDR 15.29 trillion from IDR 18.07 trillion. As a result, the debt-to-equity ratio (DER) in 2022 will fall to 0.45 times from 0.54 times in the preceding year (yoy). “Mitratel still has ample room for expansion as demonstrated by the continued decline in its DER and 0.5% rise in the company’s equity to IDR 33.808 trillion,” said Teddy.
The company remains confident about the industry growth averages in 2023, in reliance on Mitratel’s solid strategy and business model, supported by organic growth such as increasing collocation (tenancy ratio), and complemented by inorganic actions that will drive Mitratel’s positive revenue growth and increase in net profit.
“We believe that the company’s performance in 2023 will continue to grow, emphasizing asset monetization, cost efficiency, and impactful Mitratel’s leadership in the tower industry,” said Teddy, Theodorus’ nickname, in Jakarta, Tuesday (3/7/2023).
“In the future, we plan to take several strategic initiatives. Our primary focus will be on providing end-to-end solutions for our customers such as fiber-to-the tower and energy-as-a-service. Moreover, we plan to adopt a more assertive approach in monetizing our tower assets, exceeding 35,400 locations throughout Indonesia. “We are confident that Mitratel will maintain its position as the market leader in 2023 with a better market share control compared to competitors,” added Teddy.
Mitratel will continue to maintain the company’s growth and fundamentals by reinforcing its position as a premier telecommunications tower company, dominating both operational and financial performance. The company anticipates its growth momentum in 2023 with double-digit growth, surpassing the industry’s estimated growth rate of around 4%. The company’s growth will be achieved through aggressive organic, inorganic, and other business expansion to offer the best service to all operators in developing telecommunications networks, advancing towards its vision as a Digital Infrastructure Company.
