PT Tower Bersama (TBIG) Q4 2024 earnings summary

Executive summary

• Revenue reached Rp6,867.4 billion for 2024, up 3.4% year-over-year, driven by growth in fiber optic and tower leasing.

• Net profit attributable to owners was Rp1,361.6 billion, down 12.7% compared to 2023, mainly due to higher finance and operating expenses.

• Total assets increased to Rp47,316.3 billion as of December 31, 2024, with equity at Rp10,565.5 billion.

• The company maintained a strong market position in the Indonesian tower infrastructure sector, with no significant expansion or downsizing in 2024.

Financial highlights

• Gross profit rose to Rp4,926.2 billion, up 4% year-over-year, with gross margin at 71.8%.

• Operating profit was Rp4,318.8 billion, up 2% from 2023.

• EBITDA margin remained robust, supported by recurring tower and fiber optic lease revenues.

• Final tax expense increased to Rp640.7 billion, and total income tax expense was Rp53.5 billion.

• Basic earnings per share was Rp60.38, down from Rp69.11 in 2023.

Outlook and guidance

• Management expects continued stable demand for tower and fiber optic infrastructure, with a focus on maintaining healthy capital structure and prudent liquidity management.

• No major expansion or downsizing planned for 2025; focus remains on organic growth and operational efficiency.

• The company plans to maintain a net senior debt to annualized adjusted EBITDA ratio below 5x.