Established in 1995, Mitratel has focused its business on digital infrastructure and telecommunication provider. By the end of 2020, the company has over 18,473 telecommunication towers throughout Indonesia.

Good performance

"The surge in revenue boosted the company's net profit by 18.1% to IDR 1.22 trillion compared to the previous year of IDR 1.03 trillion. Likewise, the EBITDA [Earning Before Interest, Taxes, Depreciation and Amortization] increased by 15.7% to IDR 4.4 trillion," Mitratel President Director Theodorus Ardi Hartoko said in a statement on October 31, 2022.

From January to September 2022, the company's performance has consistently improved and shown a steady growth of income. In the past five years - or in the 2017-2021 Compound Annual Growth Rate (CAGR) - the company recorded an average income of 14%.

"We believe that in the future, Mitratel's EBITDA will increase in line with the large co-location growth opportunities in our towers, especially outside Java," Hartoko said.

Challenges in telecommunication sector

Digital transformation in Indonesia is still a challenge in itself. This is due to the fact that internet network penetration has not been evenly distributed nationwide because of the difficulties of supporting infrastructure in reaching many remote areas.

Other challenges include transportation connecting network factors, geographical factors and relatively high investment factors.

Indonesia's internet speed is low compared to other Southeast Asian countries. According to Speedtest Global Index from Ookla, Indonesia is ranked 110 of 182 countries in terms of download speed from mobile and ranked 121 on fixed broadband by September 2022.