PT Sarana Menara Nusantara Tbk · IDX:TOWR
PT Sarana Menara Nusantara Tbk — FY2012 Earnings Presentation
15 slides from PT Sarana Menara Nusantara Tbk's earnings presentation, 2013
Slide 1: Fourth Quarter and Full Year Results
PROTELINDO PT. SARANA MENARA NUSANTARA, Tbk. (TOWR) Indonesia’s Premier Tower Company Fourth Quarter and Full Year Results
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 Results Operational Performance Balance Sheet Summary 2013 Outlook Q&A 2
Slide 4: Two Year Financial Performance
Two Year Financial Performance Revenue EBITDA (in IDR Billions) (in IDR Billions) 2,265 1,889 1,651 1,386 1,356 1,128 FY 2010 FY 2011 FY 2012 FY 2010 FY 2011 FY 2012 Sizeable increases in revenue and EBITDA 3
Slide 5: Two Year Tower and Tenant Growth
Two Year Tower and Tenant Growth Towers Tenants 8,460 14,849 6,363 10,798 5,072 8,365 FY 2010 FY 2011 FY 2012 FY 2010 FY 2011 FY 2012 3,388 towers and 6,484 tenants added since our secondary placement in Dec 2010 4
Slide 6: 4Q12 Financial Results
4Q12 Financial Results Revenue EBITDA (in IDR Billions) (in IDR Billions) 646.1 539.2 451.7 382.3 4Q11 4Q12 4Q11 4Q12 Operational execution led to continued increases in revenue and EBITDA 5
Slide 7: Robust Tower Additions in 2012
Robust Tower Additions in 2012 875 404 463 355 658 12 104 138 343 359 217 266 1Q12 2Q12 3Q12 4Q12 Acquisition Built-to-Suit Added in excess of 2,000 towers for 33% year over year growth 6
Slide 8: Demand Drivers
Demand Drivers Rising smart phone penetration Increasing demand for data Continued network expansion for 3G rollouts Significant network congestion 7
Slide 9: Balance Sheet
Balance Sheet We are as focused on optimizing our balance sheet as we are on operational excellence We started the year with a great balance sheet, and were very successful in making significant improvements 8
Slide 10: 2012 Accomplishments
2012 Accomplishments Refinanced approximately USD 670 million in bank debt Extend bullet maturities by 2 years to May 2018 Removed the security for the bank loans; now an unsecured structure Lowered proforma interest cost to 5.18% p.a. LQA EBITDA interest coverage ratio is 5.0x Net Debt
Slide 11: Proforma Debt Structure
Proforma Debt Structure* Structure Currency Maturity Date Amount Outstanding (In USD Millions) 7-Yr Amortizing IDR Dec 2018 204.8 7-Yr Amortizing IDR Dec 2019 113.7 5-Yr Bullet USD May 2018 463.0 5-Yr Bullet EUR May 2018 53.0 10-Yr Bullet EUR Nov 2022 22.8 TOTAL 857.3 * After close of current syndic
Slide 12: Netherlands Tower Acquisition
Netherlands Tower Acquisition Purchased 261 towers from KPN, the largest operator in the Netherlands Increased financial flexibility and synergies in financing 15 year revenue guarantee by KPN on approximately 70% of revenue Remaining 30% of revenue split between T-mobile and Vodafone 11
Slide 13: 2012 Summary
2012 Summary Increased full year revenue and EBITDA in excess of 36% year over year Increased 4Q revenue and EBITDA in excess of 41% year over year Added over 2,000 towers and over 4,000 tenants Surpassed 8,400 towers and 14,800 tenants De-levered from 3.6x in 4Q 2011 to 3.3x in 4Q 2012 wh
Slide 14: 2012 Outlook vs Actual
2012 Outlook vs Actual Revised Mid- Initial Outlook 2012 Actual Year Outlook Revenue IDR 1.99 – 2.07 Trillion IDR 2.16 – 2.22 Trillion IDR 2.27 Trillion EBITDA IDR 1.67 – 1.74 Trillion IDR 1.79 – 1.84 Trillion IDR 1.89 Trillion New Tower 1,050 – 1,200 1,350 – 1,650 2,097 Additions 13
Slide 15: 2013 Outlook
2013 Outlook Outlook Revenue IDR 2.85 – 3.05 Trillion EBITDA IDR 2.40 – 2.55 Trillion New Tower Additions 800 – 1,000 14
PT Sarana Menara Nusantara — FY2012 Earnings Presentation on 6ix