This Company Owned By Conglomerate Hary Tanoesoedibjo Earns Revenue From Advertising Worth IDR 9.1 Trillion To Reach IDR 2.5 Trillion Profit In 2021

Conglomerate Hary Tanoesoedibjo. (Photo: Doc. Antara)

JAKARTA - The company owned by the conglomerate Hary Tanoesoedibjo, PT Media Nusantara Citra Tbk (MNCN) posted a net profit of IDR 2.577 trillion in 2021, growing 38 percent from IDR 1.871 trillion in 2020.

In an official statement from MNCN, quoted on Thursday, April 14, in the fourth quarter of 2021, the company's net profit also showed extraordinary results, which increased significantly by 82 percent to IDR 766.3 billion compared to IDR 422 billion in the same period the previous year.

Meanwhile, MNCN's gross profit also increased by 15 percent from IDR 4.906 trillion in 2020 to IDR 5.630 trillion in 2021, which represents a gross profit margin of 59 percent (YoY). In the fourth quarter of 2021, the gross profit recorded by the company was IDR 1.586 trillion, growing 26 percent from IDR 1.255 trillion in the fourth quarter of 2020.

MNCN recorded consolidated revenues of IDR 9.622 trillion in the 2021 financial year, an increase of 21 percent from IDR 7.956 trillion in 2020. Meanwhile, in the fourth quarter of 2021, revenue growth reached 28 percent to IDR 2.549 trillion compared to IDR 1.994 trillion in the same period as the previous year.

For advertising revenue, MNCN posted an extraordinary achievement, amounting to IDR 9.192 trillion in 2021, up 23 percent from IDR 7.488 trillion billion in 2020.

Furthermore, in the fourth quarter of 2021, the company's advertising revenue increased by 25 percent to IDR 2.448 trillion from IDR 1.964 trillion in the fourth quarter of 2020.

"The significant increase in advertising revenue was largely driven by the company's digital revenue growth, which grew by 106 percent to IDR 2.007 trillion in 2021 compared to IDR 973.2 billion in 2020," said Executive Chairman of MNC Group, Hary Tanoesoedibjo.