The company targets to close 2023 with increasingly strong fundamentals through double digit revenue growth
JAKARTA – The Extraordinary General Meeting of Shareholders (EGMS) of PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel approves the changes in the composition of the Company’s Board of Commissioners, effective today (01/12). This meeting is a subsequent action to the submission of a Resignation Letter of Rico Usthavia Frans from his position as President Commissioner dated September 14, 2023 and Henry Yosodiningrat from his position as Commissioner dated November 28, 2023.
Referring to the provisions of Article 14 Paragraph [25] point b of the Company Articles of Association and Article 27 of the Financial Services Authority Regulation Number 33/POJK.04/2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies [“POJK 33/2014”], the Company is obliged to organize EGMS to decide on requests for resignation of members of the Company’s Board of Commissioners no later than 90 [ninety] days after the company receives the resignation letter of members of the Board of Commissioners, as of September 14 2023.
“At today’s EGMS, the shareholders have approved and accepted the resignation Rico Usthavia Frans from his position as President Commissioner and Henry Yosodinigrat as Commissioner. We would like to thank him for his dedication and contribution so far,” said Mitratel President Director Theodorus Ardi Hartoko.
Apart from accepting the resignations of Rico Usthavia Frans and Henry Yosodiningrat, the EGMS also approved and appointed Yusuf Wibisono as President Commissioner, Mira Tayyiba as Commissioner, and Gunawan Susanto as Independent Commissioner.
“We would like to thank the shareholders for the approval obtained. We believe that this change in management will strengthen the company’s position in terms of governance and increase solidity between management and commissioners to jointly realize the company’s strategic plans,” added Teddy.
With the approval of the EGMS, the current composition of Mitratel’s board of commissioners is as follows:
| The Composition of MTEL Board of Commissioners | |
| Yusuf Wibisono | President Commissioner of Mitratel |
| Herlan Wijanarko | Commissioner |
| Mira Tayyiba | Commissioner |
| Gunawan Susanto | Independent Commissioner |
| M. Ridwan Rizqi Ramadhani Nasution | Independent Commissioner |
The Company’s Fundamentals Are Increasingly Stronger
Solid cooperation between the Board of Directors and the Board of Commissioners has succeeded in making Mitratel the largest TowerCo company in Southeast Asia in terms of tower ownership. Not only that, Mitratel has also successfully become a company that consistently achieves net profit growth with increasingly strong fundamentals. For this reason, the company envisions achieving double-digit revenue growth in 2023.
This week, Mitratel just completed the acquisition of 803 towers worth IDR 1.75 trillion and took over 967.1 kilometers of fiber optics worth IDR 85 billion. This corporate action increased the number of tenants by 1,327 new tenants and increased the company’s tenancy ratio.
Of the 803 towers acquired, 562 towers or 70% of them are outside Java Island. While the remaining 30% or 241 towers are located on Java Island. This additional asset composition confirms MTEL’s commitment to becoming a strategic partner for the telecommunications operator industry in expanding throughout the country.
“Strengthening market share outside Java has become a strategic agenda for a number of telecommunications operator companies. This expansion is in line with the increasing demand for internet in various regions along with equitable distribution of economic growth. As a major player in this business and with a high opportunity to become an end-to-end telecommunications infrastructure provider, we definitely must be at the frontline in helping their expansion,” said Mitratel President Director Theodorus Ardi Hartoko.
From a fundamental perspective, Mitratel posted an 11.9% rise in revenue from IDR 5.6 trillion at the end of September 2022 to IDR 6.3 trillion at the end of September 2023 [year on year/ yoy]. EBITDA margin also improved from 78.5% in September 2022 to 80.6% in September 2023. From total revenue of IDR 6.3 trillion, the company managed to record a net profit of IDR 1.43 trillion. This net profit jumped 16.6% from the same period last year.
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https://www.mitratel.co.id/portfolio-en/
