New Street Research - Mitratel (IDR935) New Street: Mitratel (Buy, TP: IDR 1,135, +58%) Q3 22 Quick Take: Better margins but net profit missed on higher depreciation costs

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New Street Research

Chris Hoare

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New Street: Mitratel (Buy, TP: IDR 1,135, +58%) Q3 22 Quick Take: Better margins but net profit missed on higher depreciation costs

Mitratel reported Q3 22 revenue which missed consensus by 4% on lower Tower-related revenue than expected as the firm was focused on selective opportunities with higher margin.

31/10/2022 1 EN

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Chris Hoare

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New Street: Mitratel (Buy, TP: IDR 1,135, +58%) Q3 22 Quick Take: Better margins but net profit missed on higher depreciation costs

Mitratel (Buy, TP: IDR1,135, +76%) Q3 24 Quick Take: Faster

Mitratel (Buy, TP: IDR1,135, +73%) Q2 24: YTD EBITDA tracking ahead

EM Towers Q1 CY24 review: Better overall; trimmed price targets for Indonesian Towers on consolidation risk

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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