Mitratel forecasts double-digit revenue growth

07 November 2022

Dayamitra Telekomunikasi (Mitratel) forecasts double-digit growth in revenue and profitability in 2022 after acquiring 6,000 towers from Telkomsel in the third quarter.

President director Theodorus Ardi Hartoko said that EBITDA is expected to continue to increase in line with large co-location growth opportunities. Its full-year guidance pegs revenue and EBITDA growth at 12% and 15% respectively.

Net profit from January to September grew 18.1% year-on-year to IDR1.2 trillion. Revenue rose 11.5% to IDR5.6 trillion, with tower leasing turnover increasing 17% to IDR4.6 trillion. Reseller turnover fell 15% to IDR485 billion, as revenue from Telkom Indonesia was reclassified as rental income after the acquisition of 798 towers. Its tower-related business, covering fibre and small cells, was flat at IDR531 billion.

To support the country’s rollout of 5G networks, Mitratel aims to complete construction of a 9,000km fibre network by the end of 2022. The company added 6,845 towers and 7,796 new tenants during the nine-month period.