Having Lost Hundreds Of Billions, ANTV Holding Company Owned By Bakrie Conglomerate Record Profits Of Rp33.7 Billion

Management of PT Intermedia Capital Tbk. (Photo: Doc. Intermedia Capital)

JAKARTA - The financial performance of the parent company of the TV station, ANTV, PT Intermedia Capital Tbk is starting to improve. The company owned by the conglomerate Aburizal Bakrie managed to turn the situation from loss to profit.

Citing the company's financial report released Tuesday, February 8, Intermedia recorded a profit of IDR 33.7 billion as of September 2021. In the same period in 2020, the company still recorded a loss of IDR 143.64 billion.

This profit is in line with the growth of the company's net income. The value reached Rp.986.42 billion, up 8.58 percent from net income in September 2020 of Rp.908.43 billion.

On the other hand, Intermedia's operating expenses only rose 1.98 percent from Rp815.41 billion to Rp815.56 billion.

Likewise with other burdens. From the beginning it reached Rp243.9 billion, down to Rp82.49 billion.

For information, Intermedia is the holding company of PT Cakrawala Andalas Televisi (ANTV), one of the 10 terrestrial television stations for fixed reception (FTA) in Indonesia that have a national broadcasting license.

Entering the digital era, the Company and ANTV, which are part of the VIVA Group, have implemented a convergence strategy for growth so that the broadcasted content can be enjoyed anytime, anywhere and with any device, and provide an unforgettable experience for viewers.

As of September 30, 2021, Intermedia's largest shareholder is PT Visi Media Asia Tbk (VIVA) with 89.99 percent ownership, Ahmad Zulfikar Said 0.0003 percent, and the remaining 10 percent belongs to the public.