Indonesia · Delayed Price · Currency is IDR PT Sarana Menara Nusantara Tbk. Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA grew double digits year-on-year, with non-tower businesses now over one-third of total revenue. CapEx guidance is IDR 4–5 trillion, focused on build-to-suit projects and submarine cable. Strong cash flow supports growth, debt service, and dividends.
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Revenue and net income grew strongly year-on-year, driven by connectivity and non-tower segments, despite a slight decline in tower revenue due to contract resets. The company maintains robust cash flow, disciplined capital allocation, and expects continued growth from connectivity, with minimal FX risk and a stable industry outlook.
Fiscal Year 2025
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FY2025 saw revenue rise 4.6% YoY to IDR 13.3T, EBITDA up 2.5%, and net profit up 10.3%, driven by operational scale, cost discipline, and industry consolidation. 2026 guidance is for low single-digit growth, with connectivity as the main driver and CapEx at IDR 5T.
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Strong Q2 performance with EBITDA margin at 83% and net income up 5.1% year-over-year. Rights issue raised IDR 5.5 trillion, reducing leverage, while tower and fiber assets expanded. Industry consolidation and asset monetization remain key strategic focuses.
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Q1 2025 saw stable margins and investment-grade ratings, with revenue up 5.3% year-over-year but flat sequentially. Industry consolidation and telco mergers are causing headwinds, but connectivity is expected to drive growth, supported by strong liquidity and prudent capital management.
Fiscal Year 2024
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Revenue grew 8.5% to IDR 12.7 trillion in 2024, with EBITDA up 7.2% and net profit up 2.5%. Industry consolidation and tenant churn are expected to impact 2025, with low single-digit organic revenue growth and continued expansion in connectivity and FTTH segments.
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Q3 2024 saw strong revenue and EBITDA growth driven by the IBST acquisition, with robust expansion in towers and fiber assets. Tenancy ratios declined due to consolidation, but margins and contracted revenues remained solid. Management expects further improvement and continued focus on fiber growth.
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Revenue rose 6.5% year-over-year in H1 2024, with EBITDA up 4.5% and net profit up 9.4%. Fiber and FTTH segments showed strong growth, while tower tenancy ratios declined due to relocations. IBST acquisition and debt refinancing are expected to drive further improvements.