MTEL – Prepares IDR7 tn capex for 2023

Dayamitra Telekomunikasi (MTEL) has prepared a capital expenditure of IDR7 tn this year, financed by the company's internal cash and bank loans. The capex is planned to be used for business development such as the acquisition of telecommunication towers but will not be as aggressive as the previous year, considering MTEL has acquired 6,000 towers in 2022. For 2023 itself, MTEL is targeting revenue and EBITDA growth of 11% yoy each, then the company's tenants are also targeted to increase by 4,000 organiccaly and 1,500 for inorganic. The company also targets to expand fiber optic roll out by 13,000 km in 2023, where for now the company already has 16,641 km of fiber optic. For its own towers, MTEL by the end of 2022 has 35,418 towers. In the future, the presentation of 5G is predicted to increase 27% by 2025, which will be a great opportunity for MTEL to grow its business. In 2022 MTEl managed to record a 29.25% yoy increase in net profit to IDR1.78 tn, from IDR1.38 tn in 2021. The company's revenue increased by 12.5% yoy from IDR6.86 tn to IDR7.72 tn in 2022. (Source : Investor Daily)