Emtek, A Media Company Owned By A Conglomerate, Eddy Kusnadi Sariaatmadja, Earns IDR 3.12 Trillion In Revenue In The First Quarter Of 2021

JAKARTA - The media company PT Elang Mahkota Teknologi Tbk or Emtek managed to record an increase in revenue in the first quarter of 2021. In addition, this company coded as EMTK shares was also able to reverse its losses in the first quarter of 2020, turning it into profit in the first quarter of 2021.

Quoted from the unaudited interim financial report as of March 31, 2021 which was quoted on Monday May 3, the company owned by conglomerate Eddy Kusnadi Sariaatmadja recorded revenues of IDR 3.12 trillion. This achievement is an increase of 20.05 percent from the same quarter's income last year of IDR2.6 trillion.

In line with the increase in income, the cost of revenue also increased to Rp2.16 trillion from the position of Rp1.81 trillion in the first quarter of 2020.

Unfortunately, Emtek recorded a lower foreign exchange gain of only Rp. 86.45 billion, while in the same period last year it reached Rp. 274.86 billion. Then there was also an increase in the share of losses from associated entities which increased to Rp215.98 billion in the first quarter of 2021, higher than the loss in the same quarter last year of Rp101.96 billion.

Even so, because it has eliminated losses from discontinued operations last year, the company was able to reverse its profit in the first quarter of 2021. Meanwhile, the profit for the period attributable to Emtek's parent company was IDR 102.08 billion, reversing compared to the same period last year. then who lost IDR 157.46 billion.

Furthermore, the company's total equity was recorded to have increased by more than 50 percent to the level of IDR 22.34 trillion, from the position on 31 December 2020 which was IDR 12.39 trillion. Meanwhile, total liabilities decreased slightly compared to the period 31 December 2021 to Rp5.23 trillion from the position of Rp5.48 trillion.

Emtek's total assets in the first quarter of 2021 reached IDR27.58 trillion. This figure increased from the position on December 31, 2020 which was IDR 17.88 trillion.