Jakarta, March 25, 2025

Today, Sarana Menara Nusantara Tbk reported its audited financial statements for the year 2024.

Consolidated operating revenue reached IDR 12.73 trillion, an increase of 8.48% year-on-year (yoy) for the 12 months of 2024. EBITDA reached IDR 10.7 trillion, growing by 7.22%, while net profit (after minority interest) reached IDR 3.34 trillion, an increase of 2.53% yoy.

SMN Group CEO, Mr. Aming Santoso, stated, "The achievements of 2024 reflect the management's success in leveraging and managing a larger operational scale in the tower and non-tower businesses, as well as capitalizing on industry opportunities to consolidate a significant IBST tower portfolio of approximately 3,200 towers. This success is a crucial milestone amidst the telecommunications industry consolidation from 4 telecommunications operators to 3."

"Currently, the Company is the largest independent digital infrastructure provider in Indonesia, owning and managing 35,400 telecommunication towers and approximately ~170,000 km of fiber optic cable network in Indonesia."

"The management has also taken numerous steps to improve and maintain the operational efficiency of Company's assets, including aspects of capital expenditure efficiency, operational costs, capital costs (loan interest), and the execution of various operational synergies, as reflected in the defensive ROE and ROI ratios, each in the range of 18% and 8%."

"These matters are crucial for the Company to navigate through challenging times such as the ongoing consolidation in the telecommunications industry with the merger of XL Axiata and SmartFren. Furthermore, the rather intense competition in the telecommunications industry is expected to have a negative impact on the growth of the Company's infrastructure usage."

"For 2025, these factors will create additional challenges for the Company's organic business growth. Revenue for 2025 is expected to grow in the low single digits organically compared to the 2024 achievements. EBITDA in 2025 will be impacted by the non-tower segment, which has higher growth than the revenue growth from the tower segment. As we know, the EBITDA margin of the non-tower business tends to be lower than the tower segment."

"The management will continue to implement optimal financial strategies to deliver the best results for shareholders."

Rights Issue Plan

Juliawati Gunawan, CFO of SMN Group, stated, "If there are no obstacles, the Company will proceed with the Rights Issue process that was previously delayed last year and will be executed in the second quarter of this year."

"We feel that the support from the controlling shareholders of SMN Group remains very strong and is expected to continue if needed in the future. The management will implement financial policies and strategies to optimize financial performance in the future."

 * LQA = Last Quarter Annualised