Mitratel Posts Rp1 Trillion in Net Profit, 104,9% Growth in Fiber Business Supported by Strong Fundamentals

JAKARTA – Publicly listed telecommunications tower provider PT Dayamitra Telekomunikasi Tbk (Mitratel) has been able to maintain a healthy and sustainable financial performance supported by strong fundamentals despite infrastructure challenges in Indonesia’s telecommunication industry. As part of its efforts to answer market demand, the company adapts to various latest technological developments.

The positive growth of Mitratel reflected in its financial performance during the first half of 2024. The company managed to book revenue worth Rp4.45 trillion, increased by 7.8 percent from the same period last year (year-on-year/YoY). The revenue growth contributed to its net profit, which reached Rp1 trillion in the first six months of the year.

“Mitratel was able to grow its operations, which bolstered revenue growth. The company recorded increase in the number of towers, tenants, and optical fiber coverage,” President Director of Mitratel, Theodorus Ardi Hartoko (Teddy), said.

In the first half of 2024, Mitratel saw improvements in tenancy ratio to 1.52x from 1.49x seen in the same period last year. The better tenancy ratio shows the company’s ability to optimize its assets and balance its expansion needs with the availability of production equipment.

Mitratel booked 5.1 percent growth YoY in the number of telecommunication towers to 38,581 units as of June 2024. The achievement solidified Mitratel’s position as the owner of the most telecommunication towers in Southeast Asia. Meanwhile, the company’s optical fiber coverage reached 37,602 kilometers, growing 37.9% during the first six months of 2024. The company balanced the increasing number of its towers and optical fiber coverage with 7.1% YoY growth in the number of tenants to 58,598.

The company’s positive growth was also influenced by efficiency and improvements in business process through the optimization of technology. Digitalization in various aspects, including marketing, helped tenants to apply for tower and optical fiber rentals
according to their needs.

The improvements resulted in Rp3.69 trillion booked in earnings before interest, taxes, depreciation, and amortization (EBITDA) during the January-June 2024 period, growing by 10.2% compared to the same period last year. The EBITDA growth shows improvements in the company’s profitability, with its EBITDA margin rising to 83.1% from the first half of last year at 81.2%.

The growth in EBITDA signifies improving efficiency as Mitratel continues to grow its business scale and implement efficient business schemes, combined with optimalization of internal business process through digitalization and a more selective ways in handling tower-related business segment.

“We are consistently improving the company’s fundamentals by monetizing production tools and strengthening business in telecommunication tower ecosystem to ensure healthy and sustainable growth in revenue and profit,” Teddy said.

Mitratel will always be active in business expansion that fits with its strategy, including through the adoption of new technology to face industrial changes by seeking selected strategic partners. The adoption of new technology will complement and strengthen MItratel’s efforts in optimizing its expansion of infrastructure network and equalization of access to telecommunication. Mitratel will ensure its corporate actions create Growth Story & Value Creation.

“Going forward, Mitratel is committed to maintaining its leading position in the industry and growing sustainably to support digital equalization and sovereignty in Indonesia,” Teddy said.

Mitratel Posts Rp1 Trillion in Net Profit, 104,9% Growth in Fiber Business Supported by Strong Fundamentals

Related Posts

Mitratel menandatangani MoU dengan AALTO untuk menjajaki solusi konektivitas HAPS di Indonesia

Mitratel signs MoU with AALTO to explore HAPS connectivity solutions in Indonesia

Fundamental Kokoh, Laba Bersih Tembus 1 Triliun & Revenue Portfolio Fiber Tumbuh 104,9%

(021) 2793 3363

About

Portfolio

Quick Links

Language