After Becoming Family With Conglomerate Hary Tanoesoedibjo Last Week, Emtek Reported Earning Revenue Of IDR 12.84 Trillion And Profit Of IDR 5.65 Trillion

Conglomerate Eddy Kusnadi Sariaatmadja. (Photo: Doc. Forbes)

JAKARTA - The company belonging to the Sariaatmadja conglomerate family, PT Elang Mahkota Teknologi Tbk (EMTK) or Emtek conveyed its performance achievements in 2021 where the company recorded revenues of IDR 12.84 trillion. This number increased by 7.62 percent from the realization in 2020 which was IDR 11.93 trillion.

In Emtek's financial report, quoted on Wednesday, April 27, the company earned a profit for the year attributable to owners of the parent entity of IDR 5.65 trillion. This achievement skyrocketed 175.6 percent from 2020 which was IDR 2.05 trillion.

The company posted a cost of revenue of IDR 9.13 trillion, a slight increase from the previous year of IDR 9.04 trillion. As a result, EMTK's gross profit in 2021 reached IDR 3.7 trillion, growing 28 percent from the previous year's realization of IDR 2.89 trillion.

In addition, EMTK recorded in 2021 selling expenses of IDR 140.83 billion, general and administrative expenses of IDR 2.21 trillion, net loss of sales of fixed assets of IDR 7.18 billion, net foreign exchange gain of IDR 32.17 billion, and net other operating expenses IDR 18.5 billion.

Thus, the company's operating profit last year reached IDR 1.35 trillion, an increase compared to the previous year which amounted to IDR 1.29 trillion.

Then, the company recorded net financial income of IDR 109.22 billion, net return on investment of IDR 373.65 billion, dividend income of IDR 1.15 billion, finance costs of IDR 101.84 billion, and a share of loss from net associates of IDR 1.1 trillion.

Furthermore, in 2021, EMTK recorded an adjusted profit on changes in equity of associates of IDR 5.8 trillion. Meanwhile, in the previous year there was none.

Previously, the daughter of Hary Tanoesoedibjo, owner of MNC Group, Jessica Herliani Tanoesoedibjo and the son of Fofo Sariaatmadja, namely Putra Jonathan Natakusuma Sariaatmadja officially married on Friday, April 22. President Joko Widodo and Chairman of the People's Consultative Assembly (MPR) Bambang Soesatyo witnessed the wedding.

Fofo Sariaatmadja is a shareholder and commissioner of PT Elang Mahkota Teknologi Tbk (EMTK) or Emtek which oversees SCTV, Indosiar, and O Channel.