Emtek, A Media Company Owned By Conglomerate Eddy Kusnadi Sariaatmadja, Earned Of IDR 2.05 Trillion In Profit In 2020

JAKARTA - PT Elang Mahkota Teknologi Tbk (Emtek) managed to record a positive performance in 2020. The parent company of SCTV and Indosiar television stations was able to reverse the loss position in 2019, into profit in 2020.

Quoted from the financial report of the issuer coded as EMTK, Tuesday, April 6, the company owned by conglomerate Eddy Kusnadi Sariaatmadja recorded revenue of IDR 11.93 trillion in 2020, up 8.21 percent compared to 2019's acquisition of IDR 11.03 trillion.

Meanwhile, the company's cost of revenue also increased to IDR 9.04 trillion from the previous year's IDR 8.27 trillion. However, Emtek managed to reduce the number of other expenses, such as selling expenses to IDR 88.24 billion, general and administrative expenses to IDR 1.57 trillion, and loss of sales of fixed assets of IDR 5.97 billion.

The company, which is owned by the 20th richest person in Indonesia, also managed to get a foreign exchange gain of IDR 37.35 billion compared to the previous year's loss of IDR 159.6 billion.

As a result, Emtek managed to get a profit for the year attributable to the main entity amounting to IDR 2.05 trillion in 2020. This amount is inversely proportional to 2019, namely recording a loss of IDR 1.5 trillion.

On the other hand, the company's total liabilities at the end of 2020 edged up to IDR 5.48 trillion compared to the position at the end of 2019 of IDR 5.27 trillion. The total liabilities consisted of IDR 2.86 trillion short-term liabilities and IDR 2.6 trillion long-term liabilities.

Emtek's total assets were recorded to have increased to IDR 17.88 trillion at the end of 2020 compared to the position at the end of 2019 of IDR 17.54 trillion.

Emtek is the main business of Eddy Kusnadi Sariaatmadja. The 67-year-old man has a wealth of USD 1.4 billion, approximately IDR 20.6 trillion (exchange rate of IDR 14.400 per US dollar).