PT Tower Bersama (TBIG) Q4 2023 earnings summary

Executive summary

• FY23 revenue rose to Rp6,640,645m from Rp6,524,369m, while operating income and net profit were lower YoY.

• Operating cash flow was Rp4,381,589m; total assets were Rp46,966,466m and total liabilities Rp34,605,439m at year-end.

• Independent auditors issued an unmodified opinion on the consolidated financial statements.

Financial highlights

• Revenue was Rp6,640,645m vs Rp6,524,369m; gross profit Rp4,738,248m vs Rp4,741,044m.

• Operating income was Rp4,234,072m vs Rp4,282,471m; profit before income tax was Rp1,804,519m vs Rp1,911,766m.

• Net profit was Rp1,621,694m vs Rp1,689,441m; parent-attributable profit was Rp1,560,307m vs Rp1,637,579m.

• Operating cash flow was Rp4,381,589m vs Rp4,809,339m; investing cash outflow was Rp2,745,738m and financing cash outflow Rp1,794,148m.

• Year-end cash and equivalents were Rp800,857m, down from Rp966,386m; total assets increased to Rp46,966,466m from Rp43,139,968m.

Segment performance

• Tower revenue was Rp6,237,297m vs Rp6,428,838m; fiber-optic revenue was Rp361,531m vs Rp48,847m.

• Repeater revenue was Rp38,127m vs Rp38,295m; investment-property revenue was Rp3,690m vs Rp8,389m.

• By geography, Java and Bali revenue was Rp3,812,961m, Sumatra Rp1,734,195m, Kalimantan Rp459,174m, Sulawesi Rp519,582m, and Maluku and Papua Rp114,733m.