Jakarta, INTI - Telecommunications tower company PT Tower Bersama Infrastructure Tbk (TBIG) recorded a net profit of IDR 1.42 trillion in 2025, marking a 4.79% year-on-year increase from IDR 1.36 trillion in the previous year.
In line with this growth, the company’s earnings per share (EPS) reached IDR 63.71.
The positive performance was supported by a slight increase in revenue, which rose 0.61% to IDR 6.91 trillion in 2025, despite declining contributions from several major telecom operators.
Revenue Pressures Amid Operator Consolidation
Revenue from Telkomsel fell by 0.4% to IDR 2.29 trillion. Meanwhile, revenue from Indosat Ooredoo Hutchison declined by 1.9% to IDR 1.73 trillion, and income from XL Axiata dropped sharply by 70.6% to IDR 371.7 billion.
In addition, revenue from Smart Telecom decreased by 71.2% to IDR 271.8 billion.
On the other hand, TBIG recorded a new contribution of IDR 1.5 trillion in 2025 from XLSmart Telecom Sejahtera, an entity formed from the merger of XL Axiata and Smartfren.
Revenue from other customers surged by 213.7% to IDR 91.9 billion. Overall, income from the tower business slightly declined by 0.6% to IDR 6.27 trillion.
Beyond its core business, revenue from fiber optic services increased by 14.9% to IDR 639.9 billion, while income from investment properties edged down 0.1% to IDR 3.49 billion.
On the cost side, TBIG reported cost of revenue at IDR 1.94 trillion, up 0.27% compared to the previous year.
As of the end of 2025, TBIG operated 24,321 telecommunications sites, consisting of 24,212 towers and 109 Distributed Antenna System (DAS) networks, with a total of 41,892 tenancies. The tenancy ratio stood at 1.73.
Long Term Infrastructure Strategy and Financial Discipline
TBIG CEO Hardi Wijaya Liong stated that several lease agreements were not renewed upon expiration, particularly following the merger involving XL Axiata and XLSmart, which led to a decline in net additional lease contracts in 2025.
Meanwhile, TBIG Director Helmy Yusman Santoso emphasized that the company continues to focus on building long-term infrastructure assets supported by 10-year contracted revenues.
“We maintain a disciplined approach to debt management. As of end-2025, around 60% of our debt consists of rupiah-denominated loans and bonds. We continue to access diverse funding sources in both rupiah and US dollar markets,” he added.
Conclusion
Despite facing pressure from declining contributions by major telecom operators, PT Tower Bersama Infrastructure Tbk (TBIG) managed to maintain steady profit growth in 2025. The emergence of new revenue streams, particularly from XLSmart Telecom Sejahtera, highlights the company’s adaptability amid industry consolidation. Supported by long-term contracts and disciplined financial management, TBIG remains well-positioned to sustain growth and capitalize on future demand for telecommunications infrastructure.
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