Company Report | [TOWR] Shining & Growing Amidst the Storm

Coal Average Selling Price Increase

Kicking off the beginning of 2024, TOWR posted a +6.3% YoY and +0.9%QoQ increase in revenue to IDR 3,047T as of 1Q24 (1Q23: IDR 2,865T & 4Q23: IDR 3,021T). Meanwhile, EBITDA rose +4.4% YoY and fell -0.7% QoQ to IDR 2,545T (1Q23: IDR 2,439T & 4Q23: IDR 2,563T). Net Profit printed by TOWR in 1Q24 became IDR 797.4B (1Q23: IDR 752.4T, +6% YoY and 4Q23: IDR 827.5B, -3.6% QoQ). For the foreseeable future, the challenge that still hinders the growth of TOWR’s net profit is the company’s character as a capital intensive company, where the increase in interest expense is still haunting in the era of high interest rate period as well as the consolidation situation of telecommunication operators that will take place in the future (EXCL-FREN).

Asset Growth

Kicking off the beginning of 2024, TOWR posted a +6.3% YoY and +0.9%QoQ increase in revenue to IDR 3,047T as of 1Q24 (1Q23: IDR 2,865T & 4Q23: IDR 3,021T). Meanwhile, EBITDA rose +4.4% YoY and fell -0.7% QoQ to IDR 2,545T (1Q23: IDR 2,439T & 4Q23: IDR 2,563T).