VARIOUS strategies implemented will make PT Dayamitra Telekomunikasi Tbk or Mitratel (MTEL) revenue grow in 2023. Mitratel managed to record revenue of IDR 8.59 trillion in 2023, growing 11.2% compared to the previous year (year on year/yoy).
In the company’s performance achievements throughout 2023 which were published on Thursday (7/3), it was stated that the tower leasing business was the largest contributor worth IDR 7.14 trillion, or grew 12.0%. Meanwhile, revenue from the fiber optic segment continues to grow, generating revenue of IDR 207 billion.
The increase in revenue was offset by more efficient cost management by maintaining operational effectiveness by recording operational expenses of IDR 4.96 trillion, only growing 8.3% or lower than revenue growth which reached 11.2%. As a result, the company was able to generate EBITDA worth IDR 6.92 trillion, an increase of 12.7%. EBITDA margin also improved from 79.5% in 2022 to 80.5% in 2023. Meanwhile, net profit grew 12.6% from IDR 1.79 trillion to IDR 2.01 trillion.
Mitratel President Director Theodorus Ardi Hartoko explained that the 2023 achievement cannot be separated from expansion in adding to the asset portfolio, especially outside Java. This strategy is in line with the business plans of cellular operator companies which are currently expanding beyond Java, both to expand coverage, market share and improve the quality of internet connections in rural areas.
“At the same time, we continue to optimize productive assets and increase the use of digital technology in daily business. “This strategy not only makes our business model more efficient, it also increases customer loyalty because we are able to offer products and services that are relevant to their needs,” he said.
It was further stated that Mitratel will continue to strengthen its position as a strategic partner for cellular operators in consolidating while helping them expand into a number of new areas that are centers of economic growth. “Our tower and fiber portfolio is spread evenly throughout Indonesia. A total of 22,237 towers, or 58% of the total, are located outside Java. “The infrastructure network we have will make it easier for cellular operators to deepen market penetration and develop business, especially in rural areas,” he said.
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In the midst of the consolidation trend, Mitratel continues to record an increase in the number of colocations from 16,588 to 19,395 tenants or an increase of 16.9%. So the number of tenants also grew 10.4% from 52,006 to 57,409 tenants. This increase has an impact on the tenancy ratio from 1.47x to 1.51x. “The contribution of businesses outside Java is reflected in tenant growth of 12%, higher than in Java where growth was 9%,” he said.
He added that the company also recorded an increase in assets of 1.7% to IDR 57.01 trillion driven by an increase in fixed assets, both from organic and inorganic activities by maximizing the use of IPO funds. Strong operational and financial performance is supported by optimization of capital structure and diversification of funding sources. (RO/R-2)
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