Pt Solusi Tunas Pratama Tbk · IDX:SUPR
Pt Solusi Tunas Pratama Tbk — Investor Presentation (May 2019)
21 slides from Pt Solusi Tunas Pratama Tbk's investor presentation, May 2019
Slide 1: Company Presentation
Company Presentation PT Solusi Tunas Pratama Tbk May 2019
Slide 2: Disclaimer
Disclaimer These materials have been prepared by PT Solusi Tunas Pratama, Tbk (“STP” or the “Company”) and have not been independently verified. These materials are highly confidential and are being given solely for your information and for your use. By accepting these materials you agree that you w
Slide 3: STP at a glance: Indonesia's premier wireless data network infrastructure provider
STP at a glance: Indonesia’s premier wireless data network infrastructure provider 6,369 towers 3,289 km1 37 indoor DAS 1Q 2019 ~90% of (including 419 fiber optic sites with EBITDA margin revenue from microcells) network 54 tenants of 85.0% the top-4 telcos2 10,487 tenants Towers Tenants Revenue (ID
Slide 4: Indonesia has one of the most attractive tower markets globally
Indonesia has one of the most attractive tower markets globally… Indonesia Tower Market Global Tower Market Benchmarking High barriers to entry including local regulations Non Non Independent Independent Independent 2 Independent Independent Business model / Captive / Captive Significant growth
Slide 5: Supported by favourable mobile industry dynamics
…supported by favourable mobile industry dynamics … SIM registration will result in lower Supportive competitive and 4G coverage a focus area for churn for mobile operators pricing environment mobile operators ● Prepaid SIM registration began on October ● Since the end of the SIM registration proces
Slide 6: Demand for mobile data continues to boom
…as demand for mobile data continues to boom which will drive the requirement for higher quality coverage We are only in the first inning of Indonesia's mobile data revolution… Mobile data per connection is expected Mobile connections are expected to Smartphone penetration is expected to increase 5.
Slide 7: Tower industry poised to benefit from higher capex spend by mobile operators
Tower industry poised to benefit from higher capex spend by mobile operators Higher Capex for Network Investments 4G Coverage Growth: Operators looking to ex-Java expansion ● Both XL Axiata and Indosat have publicly committed to Operators planning to spend more capex over the next few years in an ef
Slide 8: Strong portfolio of tower and fiber assets covering major prime locations
Strong portfolio of tower and fiber assets covering major prime locations Tower, microcell and DAS Fiber 3,289 km Fiber 2 Others 15% Java 61% Medan 102 Batam – Singapore 84 61% Sumatra 6,369 Towers 24% of towers in Java1 Kalimantan (including 419 (22% in Jakarta) Sumatra microcells) Bandung Jatim –
Slide 9: Optimized business strategy for STP's core tower business
Optimized business strategy for STP’s core tower business Colocation Customer Quality Pricing Strategy Land Lease • Leveraging prime • Improved quality of • Optimizing pricing • Negotiations of land locations of existing earnings with the strategy to enhance lease renewal start 1–2 tower portfolio,
Slide 10: Actively enhancing returns on its tower portfolio through colocation
Actively enhancing returns on its tower portfolio through colocation Continued focus on colocation in a challenging operating …resulting in superior tower economics over the last 3 years environment… compared to competitors Annual gross tenancy additions Revenue per tower1, rebased to 100 115 111.0
Slide 11: Robust growth of revenue and EBITDA from core customers
STP has been achieving robust growth of both revenue and EBITDA from core customers1 … ~5% revenue and EBITDA CAGR during 2015 – 2018 from core customers (i.e. excluding Flexi and Internux/First Media) Reported Revenue and EBITDA Adjusted Revenue and EBITDA1 IDR Bn IDR Bn 2,000 2,000 1,800 1,800 1,6
Slide 12: Entrenched relationship with prime customers, underpinning high quality backlog
Entrenched relationship with prime customers, underpinning significant high quality backlog 92% of revenue from top 4 operators… … complemented by longer tenancy expiry schedule Annualized 1Q 2019 Revenue Tenancies expiry schedule as of Mar 31, 2019 Others 0 – 2 years 10.2% 8.0% 7.9% 7+ years 24.5%
Slide 13: Superior competitive advantage in tower fiberisation
Superior competitive advantage in tower fiberisation Partnership with Icon+ unlocks new potential for STP to tap on existing electrical infrastructure to expand fiber network Electrical cable Electrical cable Electrical cable Right to use fiber built alongside Right to use fiber built alongside elec
Slide 14: Opportunity to provide connectivity through mobile backhaul
Opportunity for STP to provide connectivity for telecom operators through deployment of mobile backhaul Overview of mobile backhaul product offering Tower fiberisation Fiberisation of sites is becoming increasingly attractive economically − Microwave backhaul has become more expensive over time −
Slide 15: Well-utilized balance sheet with continuous deleveraging and prudent hedging program
Well-utilized balance sheet with continuous deleveraging and prudent hedging program 1Q19 net debt build-up Prudent risk management policy IDR Bn FX hedges in place to mitigate volatility in currency and 4.9x (0.3x) (0.3x) 4.3x interest rate 7,414 6,418 (485) (448) 60% of all outstanding debt is
Slide 16: Appendix: Summary Financials
Appendix: Summary Financials 15
Slide 17: Income statement
Income statement Income statement (in IDR millions, unless otherwise specified) 2014 2015 2016* 2017 2018 1Q 2018 1Q 2019 (in IDR millions) (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) (Unaudited) Revenue 1,071,929 1,785,853 1,821,446 1,908,487 1,899,775 490,399 444,727 Cost of Reve
Slide 18: Statements of financial position (assets)
Statements of financial position (assets) Statements of financial position (Assets, in IDR millions, unless otherwise specified) 2014 2015 2016* 2017 2018 1Q 2019 (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) Current Assets Cash and Cash Equivalents 1,318,888 229,325 184,996 280,149
Slide 19: Statements of financial position (liabilities)
Statements of financial position (liabilities) Statements of financial position (Liabilities, in IDR millions, unless otherwise specified) 2014 2015 2016* 2017 2018 1Q 2019 (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) Current Liabilities Trade Payables - Related Party 3,562 293 17,2
Slide 20: Statements of financial position (equity)
Statements of financial position (equity) Statements of financial position (Equity, in IDR millions, unless otherwise specified) 2014 2015 2016* 2017 2018 1Q 2019 (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) Equity Issued and Paid-Up Capital 79,436 113,758 113,758 113,758 113,758 11
Slide 21: Statements of cash flows
Statements of cash flows Statements of cash flows ( in IDR millions) 2014 2015 2016* 2017 2018 1Q 2019 (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) Cash Flows from Operating activites Cash Received from Customers 1,432,225 1,201,587 1,622,474 2,225,161 1,892,016 1,078,451 Payment to
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