The Company Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Achieves A 208 Percent Profit Spike To IDR 412 Billion In 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - The business entity of PT Saratoga Investama Sedaya Tbk owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Mitra Pinasthika Mustika (MPMX) managed to record a 208 percent jump in net profit to IDR 412 billion in 2021, compared to the same period the previous year of IDR 134 billion. This achievement cannot be separated from strong sales growth in the distribution and retail business of two-wheeled vehicles.

Mitra Pinasthika Group Chief Executive Officer Suwito Mawarwati said the company's financial and operational performance in 2021 grew rapidly compared to the previous year. In fact, the achievement in 2021 is above the target set at the beginning of last year.

"In detail, the distribution, retail, and aftermarket segments recorded an increase in revenue of 18.7 percent and contributed 90 percent to total consolidated revenue driven by strong sales growth from the two-wheeled vehicle market nationally. Through MPMulia, the company succeeded in selling motorcycles. by 646.000 units, an increase of 16 percent from the previous year," he said in a written statement, quoted on Saturday, April 2.

This growth, he continued, was due to efforts to maximize collaboration between main dealers, dealers, and finance companies to support sales and maintain market share dominance.

"As well as running online marketing activities and sales programs that are attractive, effective, and efficient, as well as implementing various digital initiatives to strengthen the business ecosystem," he explained.

Thus, this year, MPMX's total revenue was recorded at IDR 12.9 trillion. This achievement grew by 15 percent from 2020 which was IDR 11.18 trillion.

Gross profit was recorded at IDR 1.19 trillion, up 14.1 percent from the previous IDR 1.04 trillion, with a gross profit margin of 9.3 percent. Operating expenses amounted to IDR 840 billion, up 5 percent from the previous IDR 801 billion.

"Looking back on 2021, we are very grateful for the company's performance. We have ended 2021 strongly and once again proved our resilience in going through the crisis with outstanding performance and achievements, and we are entering 2022 with good momentum supported by the strong national economic recovery continues," he concluded.