PT Tower Bersama (TBIG) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 reached Rp 5,126,850 million, up 3.5% year-over-year, with net profit at Rp 1,208,683 million, a 3.8% increase from the prior year.

• Major revenue contributors were telecommunication towers (91.9%), fiber optic (8.0%), and investment properties (0.05%).

• The company maintained a strong cash position with cash and equivalents at Rp 585,450 million as of 30 September 2024.

• Board of Directors confirmed responsibility for the accuracy and completeness of the financial statements.

Financial highlights

• Gross profit for the period was Rp 3,679,317 million, up from Rp 3,582,534 million year-over-year.

• Operating income reached Rp 3,241,348 million, a 1.1% increase year-over-year.

• Basic earnings per share attributable to shareholders was Rp 51.63, up from Rp 49.63 in the prior year.

• Total assets stood at Rp 46,213,129 million, with total equity at Rp 12,210,155 million as of 30 September 2024.

• Cash flow from operations was Rp 3,966,755 million, with net cash used in investing activities at Rp 2,094,193 million.

Outlook and guidance

• The company continues to focus on expanding its telecommunication infrastructure and maintaining prudent financial management.

• No significant expansion or downsizing was conducted during the reporting period.

• Management aims to maintain a net senior debt to annualized adjusted EBITDA ratio below 5x.