Dayamitra Telekomunikasi (Mitratel) posted double-digit growth in net profits and revenue in its full-year 2022 results and forecasts further growth in 2023.
In its earning statement, Mitratel president director Theodorus Ardi Hartokos said the company will continue to focus on efficiency in opex to increase profitability.
"We believe the company's performance in 2023 will continue to grow with a focus on asset monetization, and cost efficiency, and will further strengthen Mitratel's leadership in the tower industry," said Hartokos.
The Telkom Indonesia-owned tower company predicted it will achieve double-digit revenue growth in its 2023 financial year, whereas 4% has been tipped for the wider telecoms industry.
Looking at Mitratel’s results, profit increased 29.3% year-on-year to IDR1.8 trillion (US$118.1 million). Meanwhile, revenue was up 12.5% to IDR7.7 trillion, boosted by 17.4% growth in its tower rental unit to IDR6.34 trillion.
The company bought 7,212 towers last year with 6,000 coming from Telkomsel and gaining 9,412 tenants.
Mitratel also noted it is building a fibre optic network with 16,641km in this business, 6,012lm came from the Telkomsel tower acquisition.