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PUBLIC EXPOSE LIVE 2023 PT Sarana Menara Nusantara Tbk Jakarta | 28 November 2023 TOWR.JK / TOWR.IJ www.ptsmn.co.id investor.relations@ptsmn.co.id
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Daftar Isi
Profil Perseroan 2
Kegiatan Usaha Perseroan 7
Strategi Perseroan 10
Kinerja Usaha & Keuangan Perseroan 12
Target Kinerja Perseroan 19
CSR dan Penghargaan 21
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Profil Perseroan
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SMN Investment Highlights
Perusahaan infrastruktur digital terkemuka di Indonesia
Salah satu perusahaan
Kinerja berkelanjutan
infrastruktur digital terkemuka
5-yr Pendapatan CAGR 13,8% dan
di Indonesia dengan 29.915
5-yr EBITDA CAGR 14,1%(a)
menara dan 196.912 km fiber*
Bisnis model berupa build to suit Sustained strong returns ROI
menara dan fiber memungkinkan
8,9% and ROE 22,8%
adanya arus kas jangka panjang yang
mudah terprediksi
Profil saham TOWR
Indeks IDX30 Indeks Bisnis-27
Mempertahankan peringkat Indeks IDX ESG Indeks FTSE Asia
investment grade dari S&P dan Fitch, leaders Pacific
ketiganya dengan outlook stabil
MSCI Indonesia MSCI ESG rating
Index (BBB)
(a)CAGR = Compounded Annual Growth Rate; CAGR 2018 –2023;
(b) Latest reviewed IDX30 (July 2023). LQ 45 (July 2023). IDX ESG Leaders (June 2023) . ESG Sectors Leaders IDX KEHATI (June 2023). FTSE Emerging Asia Pacific Index (May
2023). MSCI ESG Rating (January 2023). Inclusion into Index Bisnis-27 in Oct-2023.
* Including 178,329 kms revenue generating tower fiber
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Sejarah Singkat Perseroan
Perseroan mencatatkan
sahamnya di Bursa Efek
Indonesia pada 8 Maret
2010.
2010
31 Desember 30 September
2008 sampai dengan
2022 2023
• Memiliki dan meng-
operasikan 29.915
menara dengan rasio
tenancy 1,8x.
Perseroan didirikan pada • Membangun menara BTS & menambah • Memiliki dan mengoperasikan
tahun 2008 di Kudus, colocation. 28.698 menara dengan • Mengoperasikan
Jawa Tengah. Perseroan • Beberapa transaksi akuisisi menara dari 53.975 penyewa menara.
mengawali kegiatan operator telekomunikasi seperti • Mengoperasikan 70.465 km
~178.300km jaringan
usahanya melalui akuisisi Hutchinson, Indosat dan XL serta beberapa jaringan tower fiber. tower fiber (FTTT), total
99,999% saham pemilik menara lain. • Memiliki lebih dari 12.600 jaringan fiber 196.000
Protelindo. • Juli 2015, akuisisi PT Iforte Solusi Infotek aktivasi VSAT. km per 3Q23.
(“Iforte”).
• Oktober 2021, akuisisi STP (IDX: SUPR). • Memiliki lebih dari
12.500 aktivasi di
segmen connectivity.
• Menawarkan solusi
broadband dengan fitur
terbanyak.
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Struktur Kepemilikan Perseroan
CGS TMG
8.625.528 8.977.592
saham/shares saham/shares
(49%) (51%)
SAI Public Treasury Shares*
27.764.246.165 22.034.693.635 1.215.685.200
saham/shares saham/shares saham/shares
(54,4241%) (43,1929%) (2,3830%)
1 Public
SMN FAS saham/shares
3.322.620.186
(0,0003%)
saham/shares
(99,9997%)
(0,01%)
Protelindo (99,96%) (0,04%)
(0,01%) (99,99%)
(99,99%)
iForte KIN STP
CGS : PT Caturguwiratna Sumapala
TMG : PT Tricipta Mandhala Gumilang
SAI : PT Sapta Adhikari Investama
SMN : PT Sarana Menara Nusantara Tbk
FAS : Ferdinandus Aming Santoso
Protelindo : Profesional Telekomunikasi Indonesia
iForte : PT Iforte Solusi Infotek
KIN : PT Komet Infra Nusantara
STP : PT Solusi Tunas Pratama Tbk
* sekitar 310 juta lembar saham SMN/TOWR dalam treasuri sudah dialokasikan untuk program EMSOP
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TOWR focused on aligning strategy for ESG & sustainability 3Q
1. Capital Management 2. Low-risk business 3. ESG-conscious company
- Access to low-cost funding - Digital infrastructure business with - Very small carbon footprint
- Liquidity amounts to $757 mn 1 as of high demand difficult to replace. - 95% of internet traffic in Indonesia is
30 Sept 2023 - Proven enforceability of long-term wireless
irrevocable contracts - Towers and fiber are important to
- Investment grade ratings from top rating
agencies inline with global best practice
reduce digital gap
4. Attractive industry structure 5. Most unique in asset class 6. Efficient infrastructure provider
- Industry consolidating - Contracted revenue of Rp67.7 tn is - EBITDA and AFFO 5-year CAGR of
- Opportunities for acquisitions still exist largest in market 14.1% and 13.8%, respectively, with
with fragmented players - Attractively valued business with high 2022 ROE of 22.8%.
annual recurring FCF that funds capex,
dividend, share buybacks
- TOWR has been successful a
consolidator
Going into the future
A. Best positioned to benefit B. Improve Indonesia internet C. Prepared for new
from growth in internet opportunities
1. Internet speed and traffic have each 1. Proven successful track record in
1. Invest strong FCF and low cost of grown at 50% for the past year 3
capital. expanding product offering
2. Only 50% of Indonesia territory is 2. Strategy driven by evolving customer
2. Indonesia still in middle of 4G cycle
served with 4G signal 4 needs
3. Telco business for tower cos to include 3. Fixed-mobile converge & 5G
more SoW, asset types; inline with 3. Towers per capita ratio of 1:2700 is
represent another set of
TOWR strategies. roughly 1/3 that of USA or China 5
opportunities
1 includes committed or offered term sheets from financial institutions and cash in bank 2 USO is Universal Service Obligation. Government is mandating for nation-wide
telecommunication infrastructure spending to reduce digital gap 3 for 2020; adapted from industry sources 4 source: PT Telkom, September 2020. 5 source: Verdhana Sekuritas.
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Kegiatan Usaha Perseroan
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Diversifikasi Portfolio Terbanyak
Merupakan satu-satunya Perusahaan menara yang menyediakan jasa end to end service kepada operator telko.
MENARA Fiber to The Tower (FTTT) CONNECTIVITY
• Secara aktif mencari peluang
• Total 29.915 menara dan • Tower fiber meningkatkan nilai untuk memberikan layanan
54.249 tenant per 30 dan utilitas jaringan kami untuk konektivitas (dengan bermacam
September 2023. Rasio operator telekomunikasi. penawaran seperti penggunaan
tenancy 1,8x. VSAT, nirkabel dan lainnya)
• Memiliki ~178.300 km jaringan melalui kontrak sewa B2B atau
• 53% menara berlokasi di tower fiber yang menghasilkan B2G.
Pulau Jawa dan 47% diluar pendapatan per September
Pulau Jawa. 2023. • Saat ini memiliki 12.510 aktivasi
per akhir September 2023.
• Operator telko membutuhkan • Fokus pengembangan jaringan
tambahan layanan dari untuk mendukung peningkatan Fiber to the Home (FTTH)
Perusahaan menara permintaan layanan data. • Aset FTTH mencapai
misalnya berupa sewa ~559.800 home pass per akhir
• Seperti halnya model bisnis September 2023.
peralatan dan tambahan aset
menara, jaringan fiber ini
misalnya kebutuhan baterai.
memiliki kontrak jangka panjang • Saat ini memiliki 77.682 home
dan tidak dapat dibatalkan serta connect dengan 13,9%
memiliki potensi untuk penetration rate.
penambahan utilitas.
Terdapat kesempatan Potensi pertumbuhan yang kuat
Bisnis menara menawarkan
pertumbuhan menara organik karena rendahnya penetrasi dan
platform untuk pertumbuhan FTTT
untuk pemenuhan jangkauan peningkatan permintaan akan
yang berkelanjutan.
dan kapasitas. layanan terintegrasi.
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Rekam Jejak Pertumbuhan yang Kuat
XL
towers
acquisition STP and
XL acq
Hutch towers Hutch acq Hutch towers iForte acq (2,500 towers) KIN Acq Indosat Acq Bumen acq GIK acq (125
(1,646
acq (5,085 towers) acq (421 towers) (1,369 towers) (1,000 towers) towers) (6,943 towers) towers)
60,000 202,000
182,000
50,000
162,000
142,000
40,000
122,000
30,000 102,000
82,000
20,000
62,000
42,000
10,000
22,000
- 2,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 3Q23
# Towers (Left Axis) # Tenancies (Left Axis) FTTT Km Generating Revenue (Right Axis)
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 3Q23
# Towers 781 3,312 4,415 5,072 6,427 8,482 9,766 11,595 12,237 14,562 14,854 17,437 19,319 21,381 28,698 29,794 29,915
# Tenancies 984 5,137 7,282 8,365 10,798 14,849 18,322 20,138 21,038 24,144 25,011 28,319 33,346 39,127 53,975 53,967 54,249
FTTT Km Generating
2,345 21,977 36,346 70,465 149,811 178,329
Revenue
Number of Activations under
5,612 7,041 7,503 9,283 10,572 12,510
Connectivity
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Strategi Perseroan
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Strategi Perseroan: Build – Buy – Return
Perseroan berupaya untuk mempertahankan posisi sebagai Perusahaan
infrastuktur telekomunikasi independent terkemuka di Indonesia
• Investasi membangun menara
Build-to-Suit dan menambah
colocation.
Selama 12 bulan yang berakhir pada 3Q 2023:
• Expansi jaringan fiber optik,
khususnya untuk mendukung ➢ Menambah 207 menara.
BUILD
bisnis konektivitas termasuk Fiber
to the home (FTTH). ➢ Menambah 57.040 km jaringan fiber yang
menghasilkan pendapatan.
• Melanjutkan fiberisasi menara
(FTTT), untuk mendukung ➢ Menambah 2.274 aktivasi.
pertumbuhan kecepatan lalu lintas
data. ➢ Menambah 71.075 home connect and 446.893
BUY home passes.
• Menjaga likuiditas neraca untuk
mendukung ekspansi dan akuisisi
strategis.
• Mempertahankan investment grade ➢ Mempertahankan investment grade rating
rating dengan outlook stabil.
RETURN
• Mempertahankan kebijakan ➢ Dividen berkelanjutan sejak 2017.
dividen.
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Kinerja Usaha dan Keuangan Perseroan
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Pertumbuhan Infrastruktur Perseroan
Menara Tenant
29.915
29915 55.029
54.249
29.708
29708
# Menara
# Tenant
+ 207 (0,7%)
-780 (-1.4%)
3Q22 3Q23 3Q22 3Q23
FTTT Konektivitas FTTH
178.329 77.682
12.510
10.236
121.289
# Home connect
# Aktivasi
+71.075(1.075,8%)
Km
+57.040 (47,0%) +2.274 (22,2%)
6.607
3Q22 3Q23 3Q22 3Q23 3Q22 3Q23
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Analisis Pendapatan Perseroan
Dalam Milyar Rp
8.719
2022 2023
8.107
6.459
6.299
Menara FTTT Konektivitas FTTH TOTAL
Turun 2,5% Tumbuh 67,7% Tumbuh 19,9% Tumbuh 1.280,3% Tumbuh 7,6%
1.297
1.042
773 869
6 82
Menara FTTT Konektivitas FTTH Total
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Pertumbuhan Revenue, EBITDA dan Laba Bersih
Dalam Milyar Rp
Revenue EBITDA Laba Bersih
2.943,1
2.790,8
2.502,7
2.396,0
867,6 866,5
+ 152,3 (5,5%) + 106,7 (4,5%)
-1,1 (-0,1%)
2Q22 2Q23 2Q22 2Q23 2Q22 2Q23
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Laporan Keuangan Konsolidasian Perseroan
Dalam Jutaan Rupiah 2020 2021 2022 9M2023 3Q2022 3Q2023
Pendapatan 7.445,4 8.635,3 11.035,7 8.719,4 2.790,8 2.943,1
Beban pokok pendapatan (415,2) (480.4) (607,8) (521,5) (154,8) (175,8)
Depresiasi dan amortisasi (1.644,0) (1.859,8) (2.306,7) (1.944,2) (587,9) (661,9)
Laba Bruto 5.386,2 6.295,2 8.121,2 6.253,7 2.048,1 2.105,4
Beban usaha (625,3) (720,7) (911,3) (781,1) (240,0) (264,6)
Laba Usaha 4.760,9 5.574,5 7.209,9 5.472,6 1.808,0 1.840,8
Pendapatan lain-lain (1.362,0) (1.523,5) (2.750,6) (2.372,7) (675.9) (738,0)
Laba sebelum beban pajak final dan
3.398,9 4.051,0 4.459,3 3.099,9 1.132,1 1.102,7
pajak penghasilan
Beban pajak final dan
(545,3) (603,1) (962,7) (625,9) (254,2) (227,6)
penghasilan
Kepentingan nonpengendali 17,6 20,5 26,7 (48,5) (12.2) (8,6)
Laba Tahun Berjalan 2.836,0 3.427,4 3.442,0 2.425,6 867,6 866,5
EBITDA 6.404,9 7.434,3 9.516,6 7.416,8 2.396,0 2.502,7
(margin) (86,0%) (86,1%) (86,2%) (85,1%) (85,9%) (85,0%)
YoY Pertumbuhan Pendapatan 15,4% 16,0% 27,8% 7,6% 33,2% 5,5%
Marjin Laba Bruto 72,3% 72,9% 73,6% 71,7% 73,4% 71,5%
Marjin Laba Tahun Berjalan 38,1% 39,7% 31,2% 27,8% 31,1% 29,4%
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Neraca Konsolidasian Perseroan
Dalam Jutaan Rupiah 2020 2021 2022 9M23
ASET
Kas dan setara kas 1.442,6 4.748,4 308,6 395,2
Aset lancar lainnya 1.559,7 2.649,8 3.342,5 3.943,9
Total aset lancar 3.002,3 7.398,1 3.651,1 4.339,2
Total aset tidak lancar 31.247,2 58.430,5 61.974,0 63.885,4
TOTAL ASET 34.249,6 65.828,7 65.625,1 68.224,6
LIABILITAS dan EKUITAS
Liabilitas Jangka Pendek 7.225,2 21.880,3 14.446,1 17.863,0
Liabilitas Jangka Panjang 16.840,3 31.886,4 36.746,7 34.266,1
Total Liabilitas 24.065,5 53.766,7 51.192,8 52.129,1
Modal disetor 530,7 530,7 530,7 530,8
Saham treasuri (786,9) (931,4) (931,4) (931,3)
Laba ditahan 10.365,6 12.394,0 14.635,9 16.160,1
Lain-lain 44,6 37,7 165,4 202,6
Kepentingan nonpengendali 30,0 31,0 31,8 133,4
Total Ekuitas 10.184,0 12.062,0 14.432,3 16.095,5
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Target Kinerja Perseroan
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Perseroan berkomitmen untuk terus tumbuh, sesuai potensi industri
Target Revenue Target EBITDA
Dalam Triliun Rupiah Dalam Triliun Rupiah
11,5
11,0
9,5 9,8
8,6
7,4
2021 2022 2023P 2021 2022 2023P
Sumber: Laporan-laporan Tahunan SMN
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CSR dan Penghargaan
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CSR
Cianjur - Protelindo telah menyalurkan bantuan kemanusiaan untuk para korban
bencana alam gempa bumi sebanyak 2 Periode. Masih mengusung semangat sosial
bertajuk “Protelindo Berbagi: Caring Sharing and Serving”, aksi sosial tersebut
bertujuan untuk meringankan beban masyarakat yang terdampak bencana gempa
bumi skala 5,6 Magnitudo yang mengguncang wilayah Cianjur.
Kediri - Sebagai salah satu penyedia infrastruktur telekomunikasi terdepan di
Indonesia, Protelindo berkomitmen untuk memberikan dampak positif bagi negara
dan warganya, salah satunya melalui kegiatan tanggung jawab sosial perusahaan
(CSR). Dalam kegiatannya, Protelindo berkolaborasi dengan Universitas Kristen
Petra, Surabaya untuk melaksanakan program “Literasi Digital” dalam bentuk
pelatihan kepada guru guru TK dan Sekolah Dasar.
Nusa Tengggara Timur – Tahun 2023 merupakan tahun ke 2 program pelayanan
kesehatan di kepulauan yang didukung oleh Protelindo melalui Rumah Sakit
Terapung Ksatria Airlangga (RSTKA). Pada kesempatan ini Protelindo mengajak
mitra bisnisnya yaitu Indosat Ooredoo Hutchison dan XL Axiata untuk bersama
memberikan pelayanan kesehatan terbaik untuk warga di Kepulauan, khususnya di
Kabupaten Manggarai Barat - Labuan Bajo, Nusa Tenggara Timur.
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Penghargaan
Jakarta – Protelindo mendapatkan Certificate dari IOH
Jakarta – PT Sarana Menara Nusantara Tbk menerima
penghargaan kategori Emiten Non Bank pada Bisnis Indonesia
Award 2023 untuk sektor Telekomunikasi
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This presentation material has been prepared solely for use in a presentation to be made by PT Sarana Menara Nusantara Tbk (the “Company”). This presentation material and any information contained herein is highly confidential and may not be copied, reproduced, redistributed, transmitted or disclosed in whole or in part to any other person in any manner. Any forwarding, reproduction or distribution of this presentation material in whatsoever form, in whole or in part, is unauthorized. Failure to comply with these restrictions may constitute a violation of applicable securities laws. By attending this presentation, you are agreeing to be bound by the foregoing restriction and to maintain absolute confidentiality regarding the information disclosed in these materials. This presentation material or any oral information provided in connection with it has not been independently verified. The Company and its affiliates, directors, officers, employees, agents and consultants make no representation, warranty or undertaking, whether express or implied, as to the accuracy or completeness of the content of this presentation, and take no responsibility for any loss or damage suffered as a result of any omission, inadequacy or inaccuracy therein. This presentation is not intended for potential investors and does not constitute a prospectus, offering circular or offering memorandum or constitute or form part of any offer for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities (including under Law No. 8 of 1995 regarding the Capital Market) and neither this presentation nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment or investment decision in relation to any securities of the Company whatsoever in any jurisdiction. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the financial or trading positions or prospects of the Company. The information and opinions presented or contained in this presentation are provided as at the date of this Presentation and are subject to verification, completion and change without notice and the accuracy of the information is not guaranteed. This presentation contains certain forward-looking statements that relate to future events and expectations which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of historical facts contained in this Presentation, on the respective future financial position, strategy, plans, goals, and targets, future developments are forward-looking statements and typically contain words such as “expects” and “anticipates” and words of similar impact. None of the projections, expectations, estimates or prospects in this Presentation should be construed as a forecast implying any indicative assurance or guarantee of future performance, nor that the assumptions on which such projections, expectations, estimates or prospects have been prepared are complete or comprehensive. This presentation also contains certain statistical data and analyses (the “Statistical Information”) which have been prepared in reliance upon information furnished by the Company and/or other sources. Numerous assumptions were used in preparing the Statistical Information, which assumptions may or may not appear herein. As such, no assurance can be given as to the Statistical Information’s accuracy, appropriateness or completeness in any particular context, nor as to whether the Statistical Information and/or the assumptions upon which they are based reflect present market conditions or future market performance. © 2023 PT Sarana Menara Nusantara Tbk @2023 PT Sarana Menara Nusantara Tbk 23
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