JAKARTA - PT Distribusi Voucher Nusantara Tbk (DIVA) reported an increase of 31.6% YoY in revenue,from Rp3.7 trillion in 2020 toRp4.9 trillion in 2021, mainly driven by buoyant performance of digital product sales segment(+28.4%YoYo Rp4.7 trillion) and digital financial service segment (+2,215.1% YoY to Rp131.5 billion).
This, combined with the decline in operating expense ratios,from 1.8%to sales in2020to1.7%in2021,has resulted in significant increase in operating profit,up by +53.5%, from Rp22.5 billion in 2020 to Rp34.5 billion in 2021.
DIVA net profit multiplied 20-fold YoY, skyrocketing from only Rp65.8 billion in 2020 to Rp1.3 trillion in 2021. This result was partially driven by a gain on investments in PT Telfast Indonesia Tbk (TFAS), PT Digital Mediatama Maxima Tbk (DMMX), and their parent company, PT M Cash Integrasi Tbk (MCAS).
As of end-2021, DIVA sat on a net cash war chest ofRp1.6 trillion (including trading securities and restricted deposits). Thus, DIVA has ample headroom to finance its business expansion more aggressively in 2022 onwards. (LM)