PT Sarana Menara Nusantara Tbk · IDX:TOWR
PT Sarana Menara Nusantara Tbk — Q3 2012 Earnings Presentation
14 slides from PT Sarana Menara Nusantara Tbk's earnings presentation, 2012
Slide 1: Indonesia's Premier Tower Company: 3Q 2012 Results Presentation
PROTELINDO PT Sarana Menara Nusantara Tbk (TOWR) Indonesia’s Premier Tower Company 3Q 2012 Results Presentation
Slide 2: Disclaimer
Disclaimer These materials have been prepared by PT Sarana Menara Nusantara, Tbk. (the “Company”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information prese
Slide 3: Agenda
Agenda Financial Performance Operational Performance and Market Data Balance Sheet 2012 Full Year Outlook Revision Q&A 2
Slide 4: 3Q 2012 Financial Results
3Q 2012 Financial Results Revenue EBITDA (in IDR Billions) 595.7 495.9 426.9 359.1 3Q-11 3Q-12 3Q-11 3Q-12 Operational execution led to continued strong growth in revenue and EBITDA 3
Slide 5: Strong tower and tenant growth
Strong tower and tenant growth Towers Tenants Tenants 13,309 7,585 10,252 5,982 3Q-11 3Q-12 3Q-11 3Q-12 Surpassed the 7,500 tower milestone in 3Q 2012 4
Slide 6: Disciplined portfolio growth
Disciplined portfolio growth BTS Acquisition 463 381 404 355 (1) 104 12 138 152 229 266 343 359 4Q-11 1Q-12 2Q-12 3Q-12 Significant Build to Suit momentum is driving tower additions Note: (1) net-off with 4 repeater sites; 2 sites have been expired and 2 other sites terminated but remaining lease pe
Slide 7: Demand drivers
Demand drivers Rising smart phone penetration Increasing demand for data Continued network expansion for 3G rollouts Significant network congestion despite Indonesia usage among lowest in the world 6
Slide 8: Population per Tower: Indonesia among the highest
Population per Tower: Indonesia among the highest 4000 3500 3000 2500 2000 1500 1000 500 0 US Indonesia India Source: CTIA, CEIC, TechNavio, Morgan Stanley Research, 2011 7
Slide 9: Indonesian smart phone penetration among the lowest
Indonesian smart phone penetration among the lowest Singapore 90 54 Korea 90 40 HongKong 71 35 Australia 64 34 Taiwan 62 25 Malaysia 47 21 2014CL Japan 50 14 2011 Thailand 37 13 Philipines 28 13 Indonesia 18 9 China 20 7 India 18 5 0 20 40 60 80 100 Source: CLSA Asia-Pacific Markets 8
Slide 10: Debt Structure as of Sept 30, 2012
Debt Structure as of Sept 30, 2012 Structure Currency Maturity Date Amount Outstanding (In USD Millions) 5-Yr Amortizing USD Dec 2013 108.5 5-Yr Bullet USD May 2016 364.3 5-Yr Bullet IDR May 2016 104.9 7-Yr Amortizing IDR Dec 2018 135.6 TOTAL 713.3 • Substantial cash holdings at USD 130.7 million •
Slide 11: Focused on maximizing liquidity and flexibility at the lowest possible rates
Focused on maximizing liquidity and flexibility at the lowest possible rates Re-profiled our balance sheet: Debt composition at 30 Sept 2012 Average interest cost is 6.02% Senior, amortizing LQA EBITDA interest coverage ratio is 4.8x 34.2% Net Debt to LQA EBITDA ratio is 2.8x Senior, bullet
Slide 12: Strong financial liquidity
Strong financial liquidity (in USD millions) (+) Cash as of Sept 30, 2012 130.7 (+) BNI remaining loan facility 73.0 (+) Sept RR EBITDA annualized 211.9 (-) RR interest cost (next 12 months) 43.0 (-) Debt amortization (next 12 months) 81.7 (-) 2011 tax expense 10.1 Total net current liquidity 280.8
Slide 13: Summary
Summary Increased revenue and EBITDA by more than 38% year over year Surpassed 7,500 towers and 13,300 tenants (in excess of 26% growth) Disciplined approach to adding towers USD 2.0 billion in contracted non-cancellable revenue through 2024 De-levered from 3.5x in 3Q 2011 to 2.8x in 3Q 20
Slide 14: 2012 Outlook Revised
2012 Outlook Revised Prior Outlook Revised Outlook Range Range Revenue IDR 1.99 – 2.07 Trillion IDR 2.16 – 2.22 Trillion EBITDA IDR 1.67 – 1.74 Trillion IDR 1.79 – 1.84 Trillion New Tower 1,050 – 1,200 1,350 – 1,650 Additions 13
PT Sarana Menara Nusantara — Q3 2012 Earnings Presentation on 6ix