Key Takeaways Ongoing 5G rollout and urbanization are expected to drive sustained demand for tower and fiber infrastructure, boosting recurring revenue and occupancy rates. Strategic fiber expansion, debt reduction, and sector consolidation position SMN for diversified growth, margin improvement, and stable long-term earnings.Read more
Key Takeaways Declining tenancy and high exposure to traditional towers could limit revenue growth despite Indonesia's expanding data market and 5G rollout. Increased reliance on short-term contracts and diversification into lower-margin services is diluting profitability and increasing earnings volatility.Read more
Key Takeaways Rapid fiber and non-tower expansion, alongside unique industry positioning, could enable Sarana to capture outsized growth and share in both connectivity revenue and new tower builds. Strong financial discipline and national footprint position Sarana to benefit from digital transformation trends, supporting higher margins, recurring revenues, and premium valuations.Read more
PT Sarana Menara Nusantara Tbk. owns and operates telecommunication towers for wireless operators in Indonesia. It operates in two segments, Tower Rental, and Other Services. The company offers wireline telecommunication services to provide internet broadband and virtual private network; fiber to the home (FTTH) telecommunication services to build and manage fiber optic infrastructure; and very small aperture terminal (VSAT) solution to facilitate telecommunication services using satellite technology to remote locations. It also provides telecommunication equipment trading, construction, and installation services; and system communication data, internet interconnection, cable-free telecommunication, satellite telecommunication, payment, and hosting and related services. In addition, the company owns and rents real estate properties; trades in various goods; and wholesales and retails computer and computer equipment. Further, it engages in the management consulting; electrical power support and installation; and electric power generation activities. The company was founded in 2008 and is headquartered in Kudus, Indonesia. PT Sarana Menara Nusantara Tbk. is a subsidiary of PT Sapta Adhikari Investama.