PT Tower Bersama (TBIG) Q4 2025 earnings summary

Executive summary

• Consolidated revenues for 2025 reached Rp6,909.6 billion, up slightly from Rp6,867.4 billion in 2024, with the majority from telecommunication tower leasing and fiber optic services.

• Net profit attributable to owners was Rp1,426.8 billion, a 4.8% increase year-over-year, with total comprehensive income of Rp2,181.9 billion.

• The independent auditor issued an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

Financial highlights

• Gross profit for 2025 was Rp4,963.1 billion, with a gross margin of 71.8%.

• Operating profit reached Rp4,349.5 billion, up from Rp4,318.8 billion in 2024.

• EBITDA (implied from operating profit plus depreciation) remained robust, supported by recurring tower rental revenues.

• Basic earnings per share increased to Rp63.71 from Rp60.38.

• Total assets at year-end were Rp46,247.3 billion, with equity of Rp12,725.4 billion.

• Cash and cash equivalents at year-end were Rp748.4 billion, down from Rp1,481.9 billion.

Outlook and guidance

• Management continues to focus on expanding tower and fiber optic infrastructure, optimizing capital structure, and maintaining a healthy net senior debt to EBITDA ratio below 5x.

• No direct operations in conflict-affected regions, but management is monitoring global geopolitical risks and potential indirect impacts.