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TOWR – Solid Performance as a Pandemic Winner

  • Author
  • Recent Posts
Restu Pamungkas
Restu Pamungkas
Analyst - Telco, Tower, Toll Road, Poultry
Restu Pamungkas
Latest posts by Restu Pamungkas (see all)
  • JSMR – Divestment to Strengthen Capital Structure - August 5, 2021
  • TBIG – Limited Tower Acquisition Potential - July 23, 2021
  • TLKM – Strengthening Data Center Business - July 14, 2021

Both top and bottom line are in line with our estimates; TOWR recorded double digit performance in 2020. Revenue (+15.4% yoy) and net profit (+21.1% yoy). Tri was the largest contributor to revenue growth with 36.3%, followed by XL at 33.9%. Tower expansion continues, and we are optimistic that TOWR’s performance will grow in 2021.

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