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Q1 2019, Magna Investama recorded another loss of Rp 11.59 billion

27 May 2019 13:39

JAKARTA. PT Magna Investama Mandiri Tbk (MGNA) still suffer losses in the first quarter (Q1) this year, with a total loss of Rp. 11.59 billion.

In the company's interim financial report for Q1 2019, MGNA explained that the loss was caused by a decline in the company's revenue by 56.72% in Q1 2019 to Rp 32.34 billion. In the same quarter last year, the company generated Rp 74.72 billion in revenue.

With the net profit position and the average outstanding shares of 1,003,080,977 shares, the position of MGNA's Earning Per Share (EPS) in Q1 2019 was at the level of minus Rp 11.56. Meanwhile, EPS in the same period the previous year was recorded at minus Rp 11.92.

In Q1 2019, MGNA's liabilities were recorded at Rp 190.05 billion, and its equity was recorded at Rp 4.9 billion. Therefore, MGNA's Debt to Equity Ratio (DER) is at the level of 38.77 times. Compared to the DER of PT Pratama Abadi Nusa Industri Tbk (PANI), which is at the level of 2.45 times, MGNA's DER in Q1 2019 was far worse.

For information, PANI is a company engaged in the food and beverage sector, just like MGNA. PANI's market capitalization is Rp. 43.05 billion, while MGNA's is Rp. 50.15 billion. (KR/AR)

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