JAKARTA. The increasing advertising revenue within the first six months of 2021 has enabled PT Media Nusantara Citra Tbk (MNCN) to secure a 23% growth in revenue to IDR 4.86 trillion. In H1 2020, MNCN only scored IDR 3.96 trillion in revenue.
According to the Financial Report H1 2021, advertising revenue becomes the primary contributor to the cash flow, growing 27% to IDR 4.59 trillion from IDR 3.61 trillion. As the revenue proliferates, the revenue costs follow along, climbing 35% to IDR 1.6 trillion from IDR 1.38 trillion. Its depreciation and amortisation values also shoot up to IDR 148.27 billion from IDR 107.17 billion.
In the end, MNCN scores a net profit of IDR 1.26 trillion in H1 2021, soaring 26% from IDR 1 trillion reported in H1 2020. The net profit margin widens to 26% from 25%. Furthermore, its EBITDA also grows 18% to IDR 2.1 trillion from IDR 1.78 trillion.
Hary Tanoesoedbjo, the Executive Chairman of MNC Group, claims that his company’s performance is on the right track to surpass the expectations set for this year. “Our solid cash flow allows us to proceed with the debt settlement faster than the schedule entails,” he adds today (3/8). The total liability for this period is indeed declining significantly by 18% to IDR 3.65 trillion from IDR 4.46 trillion reported in December 2020. (AM/ZH)