MPMX Recorded 15 Percent Profit Increase Amid Pandemic

MPMX records revenue growth of IDR 12.9 trillion, or up 15 percent (photo; ANTARA dock)

JAKARTA - Consumer automotive and transportation company PT Mitra Pinasthika Mustika Tbk (MPMX) announced that it had posted consolidated revenues of IDR 12.9 trillion in 2021, up 15 percent from the previous year.

MPMX also recorded a profit of IDR 412 billion, which grew 208 percent compared to the same period last year.

“Looking back at 2021, we are very grateful for the Company's performance. We have ended 2021 strongly and once again proved our resilience to weather the crisis with outstanding performance and achievements, and we enter 2022 with good momentum supported by the ongoing national economic recovery," said MPMX Group Chief Executive Officer Suwito Mawarwati in a statement. official broadcast, Saturday.

He explained that 2021 was a solid year as evidenced by progress in a number of important areas such as digital transformation in response to changes in consumer behavior that are dynamic and moving towards digitalization.

"We have carried out various digital innovations both to improve business processes and product diversification, including the online claim portal for MPMInsurance, Brompit at MPMulia, and the online auction at AUKSI to the launch of the latest digital product, OtoDeals," he said, as quoted by Antara. .

Overall, MPMX's financial performance and operational performance in 2021 increased compared to the previous year's achievements.

The distribution, retail and after-sales segments recorded an 18.7 percent increase in revenue and contributed 90 percent of total consolidated revenue driven by strong sales growth from the national two-wheeler market.

MPMulia sold 646 thousand motorcycles, an increase of 16 percent from the previous year. During 2021 MPMulia maximizes collaboration between Main Dealers, Dealers, and finance companies to support sales and maintain market share dominance.

The transportation segment, namely MPMRent, experienced a 7 percent decrease in revenue compared to last year, which was mostly due to the reduced contribution from the used car sales unit.

In 2021, AUKSI, a subsidiary of MPMRent, launched an online auction which resulted in an increase in the used car sales margin of 23 percent, higher than the target set for 20 percent.

The MPMInsurance Insurance segment recorded a gross premium growth of 29 percent, but still posted a decrease in revenue of 9 percent due to a reduced contribution from vehicle insurance product premiums which decreased in 2021, despite the growth of other insurance products.

As an ongoing commitment to reward shareholders, in 2021, the Company has distributed dividends of Rp115,- per share for the 2020 financial year. The Company will continue to strive to provide maximum returns to shareholders in the form of