New Street Research - Mitratel (IDR935) New Street: Mitratel (Rating, TP: IDR 1,135, +55%) Q2 22 Quick Take: In-line quarter; improved revenue and EBITDA guidance bodes well for 2H22

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Chris Hoare

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New Street: Mitratel (Rating, TP: IDR 1,135, +55%) Q2 22 Quick Take: In-line quarter; improved revenue and EBITDA guidance bodes well for 2H22

Mitratel reported in-line Q2 22 results today. It raised FY22 revenue and EBITDA guidance by c.2% to +12% and +15% respectively which were higher than our forecast of +11% y/y for both.

28/07/2022 1 EN

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Mitratel

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Chris Hoare

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New Street: Mitratel (Rating, TP: IDR 1,135, +55%) Q2 22 Quick Take: In-line quarter; improved revenue and EBITDA guidance bodes well for 2H22

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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