Protelindo (Buy, TP: IDR 1,900, +123%) Q4 23 Quick Take: Slight miss; non-Towers continue to provide decent support
Protelindo reported a slower set of results as it lapped last year’s acquisition of Alita’s FTTT assets. Revenue and EBITDA missed expectations by 1% and 3% respectively.Sarana Menara Nusantara Tbk PT. PT Sarana Menara Nusantara Tbk is an Indonesia-based company engaged in telecommunications infrastructure industry. The Company owns and operates tower sites and repeater sites for lease to wireless communications companies in Indonesia through its subsidiary, PT Profesional Telekomunikasi Indonesia (Protelindo). As of December 31, 2011, Protelindo owned and operated 6,363 tower sites (6,325 tower sites and 38 indoor repeater sites) located all over Indonesia, with its concentration of tower sites in Java, Sumatra, Sulawesi and Kalimantan.
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