Company Report | [MTEL] Stable Growth & Solid Operating Performance

Coal Average Selling Price Increase

As of 1H24, MTEL still scored consistent and stable growth performance where Net Profit grew +4.11% YoY to IDR 1.06T (1H23: IDR 1.02T & QoQ: +4.23% 1Q24: IDR 521B). MTEL’s revenue is still growing steadily, increasing by +7.75% YoY to IDR 4.45T as of 1H24 (1H23: IDR 4.13T & QoQ: +1.73% 1Q24: IDR 2.21T). Meanwhile, EBITDA in this 1H24 period experienced a growth of +10.23% YoY to IDR 3.7T in 1H24 (1H23: IDR 3.35T & QoQ: +0.76% 1Q24: IDR 1.84T). As of now, MTEL still maintains its position as the largest tower owner in Indonesia. Despite the ongoing higher for longer situation, MTEL’s healthy balance sheet and the overall composition of MTEL’s IDR denominated debt means that it has minimal risk exposure to foreign currencies. The tower leasing segment grew steadily with Fiber Segment as MTEL’s future growth engine.

Asset Growth

As of 1H24, MTEL still scored consistent and stable growth performance where Net Profit grew +4.11% YoY to IDR 1.06T (1H23: IDR 1.02T & QoQ: +4.23% 1Q24: IDR 521B). MTEL’s revenue is still growing steadily, increasing by +7.75% YoY to IDR 4.45T as of 1H24 (1H23: IDR 4.13T & QoQ: +1.73% 1Q24: IDR 2.21T).