o Total Revenue increased 11% YoY to IDR 6.87 trillion.
o EBITDA increased 23.9% YoY to IDR 5.18 trillion. EBITDA margin reaches 75.5% in 2021.
o Net profit was recorded at IDR 1.38 trillion, an increase of 13096
o Total sites increased 53% compared to the previous year, to 206 sites.
o Total tenants increased 39% compared to the previous year to 594 tenants
Jakarta – PT Dayamitra Telekomunikasi Tbk (IDX: MTEL) or Mitratel recorded brilliant performance in 2021. Mitratel’s net profit in 2021 jumped 129.4% to IDR 1.38 trillion compared to 2020 which was IDR 602 billion.
The jump in net profit of the subsidiary PT Telkom Indonesia (Persero) Tbk (IDX: TLKM) is in line with its revenue growth. Throughout 2021, Mitratel’s revenue grew 11% to IDR 6.87 trillion compared to 2020 which amounted to IDR 6.18 trillion.
Meanwhile, Mitratel’s earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2021 reached IDR 5.18 trillion, an increase of 23.9% compared to 2020 which amounted to IDR 4.18 trillion. EBITDA margin rose to 75.5% from 67.6%. Meanwhile, Mitratel’s net profit margin in 2021 reached 20.1%, an increase compared to 2020 which was 9.7%.
“Mitratel, which was just listed on the stock exchange approximately 4 months ago, or to be precise on November 22 2021, managed to record a net profit for 2021 of IDR 1.38 trillion or a jump of 129.4%, this indicates that Mitratel has high profitability and can return value. from shareholder investments,” said Mitratel Corporate Secretary, Hendra Purnama, in a press release.
Mitratel plans to distribute dividends with a maximum ratio of 70% of net profit for the 2021 financial year. This dividend ratio will be proposed at the annual General Meeting of Shareholders (AGMS) which will be held in the not-too-distant future.
According to Hendra Purnama, the company’s net profit in 2021 will be supported by organic and inorganic growth through an aggressive sales strategy by utilizing the advantages of the Mitratel portfolio which is widely spread in attractive locations.
Over the past year, Mitratel has added 796 towers and 2,376 tenants organically. Apart from that, the company is implementing an aggressive inorganic growth strategy through the acquisition of Telkomsel towers with 8,139 towers and 8,215 tenants, as well as the consolidation of Telkom tower assets with 798 towers and 1,432 tenants.
Mitratel is a tower provider company with the best performance growth in Indonesia. It is proven that in terms of annual growth rate (Compound Annual Growth Rate/CAGR) the company’s revenue reached 14% during the 2017-2021 period. EBITDA CAGR was 29% and net profit CAGR reached 36%.
Mitratel ensures balance sheet liquidity and cash availability to support the company’s operational strategy. This is shown by the company’s financial balance in 2021. The asset value at the end of 2021 reached IDR 57.72 trillion, an increase of 128,396 compared to 2020 which amounted to IDR 25.28 trillion. Liabilities rose 40,796 to IDR 24.08 trillion from IDR 17.12 trillion. Equity jumped 312,296 to IDR 33.64 trillion from IDR 8.16 trillion.
Meanwhile, operationally, Mitratel continues to record tower and tenant growth, which is supported by the financial health of the company’s business. The number of towers by the end of 2021 reached 28,206 units, an increase of 52.7% compared to 2020 which was 18,473 units. The number of tenants in 2021 rose 39.3% to 42,594 from 2020 which was 30,570.
To maintain sustainable growth, Mitratel has four strategies. First, the company will continue to encourage organic growth. Mitratel will take aggressive steps to capture opportunities for demand for new towers (B2S) and colocation from MNOs by increasing capacity and service coverage.
Second, M&A strategy to complement organic growth. The company will carry out industrial consolidation by utilizing the strength of the company’s balance sheet and cash flow, as well as maximizing Telkom Group synergies.
Third, expand into new services. The company will develop a complete portfolio of digital infrastructure services to support the development of critical infrastructure for MNOs such as Fiber, Edge infra solutions, power-to-tower and digital services (such as LoT).
Fourth, increase operational efficiency. The Company will implement cost efficiency initiatives in various areas, such as operation and maintenance costs to increase profitability and cash flow. The company will also carry out operational digital transformation by improving operational business processes through IT system integration.
In this way, Mitratel will continue to grow and maintain the company’s reputation for sustainable business, while contributing to society and the environment. “This year, we are targeting an increase in revenue of 1096 (exceeding the average industry growth) with 750 tower developments and 3,000 organic collocations, as well as an additional 3,000 inorganic towers,” explained the Investment Director who also doubles as Mitratel’s Corporate Secretary, Hendra Purnama.
Mitratel is part of the cellular service value chain by providing telecommunications infrastructure connectivity services spread throughout Indonesia. The number of the company’s telecommunications towers is around 28% of the tower population in Indonesia. This is to strengthen Indonesia’s digital ecosystem and be ready to compete globally. The Company is an enabler of 5G development through the provision of telecommunications infrastructure services.
