Pt Sarana Menara Nusantara Tbk · IDX:TOWR
Pt Sarana Menara Nusantara Tbk — FY2020 Earnings Presentation
23 slides from Pt Sarana Menara Nusantara Tbk's earnings presentation, April 2021
Slide 1: Sarana Menara Nusantara 2020 Results Presentation
Q )) SARANA MENARA NUSANTARA Indonesia’s Premier Telecommunication Infrastructure Company 2020 Results Presentation PT Sarana Menara Nusantara Tbk IDX ticker: TOWR.JK / TOWR IJ www.ptsmn.co.id
Slide 2: SMN Investment Highlights
SMN Investment Highlights Leading telco infrastructure company in Indonesia Largest independent tower Solid business model with company with 21,381 towers predictable cash flow from providing critical foundation for towers and fiberization coverage & capacity Sustained strong performance 22% tower m
Slide 3: The Industry
The Industry @2020 PT SARANA MENARA NUSANTARA TBK
Slide 4: Tower Business – Long-Term Predictable Revenue with Potential Upside
Tower Business – Long-Term Predictable Revenue with Potential Upside Long-term contracts* (10 years for TOWR), non- PREDICTABLE REVENUE cancellable and renewable PREDICTABLE REVENUE DEPENDENT TENANTS Contract renewal probable due to high relocation cost and network impact UPSIDE FROM ADDITIONAL REVE
Slide 5: Typical Tower Company Growth Model
Typical Tower Company Growth Model New Built-to-Suit Tower Colocation Boosts ROI Additional towers and contract renewals grow revenue Colocation boosts unlevered ROI and accelerates payback period Contract renewals *Assuming 10 years ground lease Assuming 100 existing towers with 10 year lease perio
Slide 6: Indonesia Tower Industry – A Growing Market
Indonesia Tower Industry – A Growing Market Low network penetration, significant High EBITDA margin, low capex, no colocation discount, no headroom in 4G expansion and low obligation to provide power in contract 4G internet speed Western Indonesia USA India China Europe Non Non Predominant Tower bus
Slide 7: SMN 2020 Performance
Divider slide SMN 2020 Performance 6
Slide 8: Company Strategy: Build – Buy – Return
Company Strategy: Build – Buy – Return We intend to maintain position as a leading telecom infrastructure company and to deliver optimal value to our stakeholders • Invest in Build-to-Suit towers and BUILD colocation - Number of towers grew 10.7% to 21,381 as of 2020 from 19,319 in 2019 • Expand fib
Slide 9: Most Diverse Portfolio Among Independent Tower Companies
Most Diverse Portfolio Among Independent Tower Companies TOWER TOWER FIBERIZATION CONNECTIVITY • Total 21,381 towers with • Tower fiberization increases • Explore opportunities to 39,127 tenants nationwide. the value and utility of our provide connections via VSAT Tendency to telco network to Telcos
Slide 10: Towers: Track Record of Strong Performance, Consistent Growth
Towers: Track Record of Strong Performance, Consistent Growth… #Towers or Tenants iForte 2,500 XL Indosat In Rp Bn KIN Hutch towers Hutch towers acquisition towers Acquisition 1,646 XL (421 towers) Acquisition towers acquired acquired acquired (1,000 (1,369 towers) towers) acquired Total 5,085 Hutch
Slide 11: … with Excellent Future Revenue Visibility …
… with Excellent Future Revenue Visibility … Long term contracts and commitments underwrite ~Rp52.2 trillion of committed future revenue through 2033, not including value of potential future contract renewals in Rp Bn 55,000 52,238 51,007 50,000 45,000 40,000 35,000 30,000 26,057 24,437 25,000 20,00
Slide 12: Strong Investment Grade Balance Sheet
Strong Investment Grade Balance Sheet Leverage comfortably within investment grade range despite acquisitions and dividend Indicative 3.0 Term for Investment 2.5 2.5 2.5 2.4 2.4 Grade 2.5 2.3 2.1 2.1 2.0 Net Debt to LQA 2.0 1.8 EBITDA (x) 1.6 1.5 1.5 1.0 0.5 0.0 2015 2016 2017 2018 1Q19 2Q19 3Q19 4Q
Slide 13: Summary of Financial Results
Divider slide Summary of Financial Results 12
Slide 14: Abridged consolidated statement of profit and loss
Sarana Menara Nusantara (SMN) Group Abridged consolidated statement of profit and loss 13
Slide 15: Abridged consolidated statement of financial position
Sarana Menara Nusantara (SMN) Group Abridged consolidated statement of financial position 14
Slide 16: Abridged consolidated statement of cashflows
Sarana Menara Nusantara (SMN) Group Abridged consolidated statement of cashflows (12 months ended Dec 2020) 7,962 2,925 (4,638) 2,822 (1,011) (85) 1,133 1,443 594 (1,471) (2,615) (218) * ** * Numbers included VAT ** Including ground lease 15
Slide 17: Profit & Loss Movement (2019 vs 2020)
Profit & Loss Movement (2019 vs 2020) in RP Bn Revenue EBITDA Net Income 7,445.4 6,404.9 6,454.3 5,385.3 +991.1 (15.4%) 2,836.0 2,342.0 +1,019.6 (18.9%) +494.0 (21.1%) 2019 2020 2019 2020 2019 2020 16
Slide 18: Performance 2020
Performance 2020 in RP Bn Towers Tower Fiber 748.8 6,331.6 5,582.8 13.4% 177.6 331.7 154.1 115.2% Connectivity Total Revenue 991.1 7,445.4 6,454.3 15.4% 64.7 782.1 717.4 9.0% 17
Slide 19: Summary Operational Data
Summary Operational Data Towers Tenancy 21,381 39,127 #of Tenancy 19,319 33,346 #of Towers +2,062 (10.7%) +5,781 (17.3%) Dec-19 Dec-20 Dec-19 Dec-20 Tower Fiber Connectivity 36,346 * 7,503 7,041 #Activations kms 21,977 +14,369 (65.4%) +462 (6.6%) Dec-19 Dec-20 Dec-19 Dec-20 * efficiency ratio 1.25x
Slide 20: Appendix
Appendix @2020 PT SARANA MENARA NUSANTARA TBK
Slide 21: Foreign Exchange Exposure as of 31 Dec 2020
Foreign Exchange Exposure as of 31 Dec 2020 Further improved FX exposure position as planned from natural hedge ASSET CONTRACTED REVENUE LIABILITIES Cash USD 61.5mn 2021 – USD 54mn Bank Loan Investments USD 30.3mn 2022 – USD 31mn JPY 3.5bn (~USD 34mn) 2023 – USD 22mn 2024 – USD 17mn Bond USD 138mn T
Slide 22: Long Term Debt: 82.4% Floating, 17.6% Fixed, Avg Interest 5.2%
Long Term Debt*: 82.4% Floating, 17.6% Fixed, Avg Interest 5.2% in Rp Bn Maturity Profile 1,610 97 1,883 901 2,323 1,153 2,165 4,307 775 218 275 151 5,000 4,500 USD138mn 4,000 3,500 3,000 2,500 2,000 JPY3,5bn 1,500 2,323 187 - 2,391 1,000 2,165 1,610 1,410 151 500 36 901 966 775 67 61 - 275 151 - H1
Slide 23: This presentation material has been prepared solely for use in a presentation to be
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 disclose
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