Moratelindo, Smartfren Subsidiary Owned By Conglomerate Eka Tjipta Widjaja Earns Revenue Of IDR 4.64 Trillion In 2022

Photo: Doc. Moratelindo

JAKARTA - A telecommunications company from the Sinarmas group belonging to the late conglomerate Eka Tjipta Widjaja, PT Mora Telematika Indonesia Tbk (MORA) or Moratelindo recorded an increase in performance throughout 2022. MORA posted revenue of IDR 4.64 trillion in 2022.

In the company's financial report quoted on Monday, March 6, Moratelindo's revenue rose 11.19 percent on an annual basis compared to 2021 which amounted to IDR 4.18 trillion. The driver of MORA's revenue is revenue from contracts with customers which includes the implementation of a domestic telecommunication network of IDR 1.07 trillion, internet IDR 945 billion, VSAT IDR 629.2 billion, and international network IDR 377.7 billion.

Meanwhile, revenue from non-telecommunications organizations amounted to Rp1.11 trillion from concession projects, Rp46.2 billion from data centers, and Rp422 billion from other incomes. Segmentally, MORA's revenue was driven by telco revenue of Rp931.7 billion, wholesale of Rp688.9 billion, retail of Rp856.2 billion, and other income of Rp2.17 trillion.

Along with the increase in revenue, MORA also recorded a direct burden of IDR 1.89 trillion, an increase of 15.06 percent compared to 2021 which amounted to IDR 1.64 trillion.

This increase in expenses made MORA's gross profit to Rp2.75 trillion, up 8.68 percent from Rp2.53 trillion yoy. However, MORA's net profit recorded a slight increase of 0.10 percent to Rp579.5 billion, from Rp578.9 billion YoY. As for the end of 2022, MORA recorded total assets of Rp14.9 trillion, up from the end of 2021 which amounted to Rp14.5 trillion.

MORA's total liabilities decreased to IDR 8.6 trillion, compared to 2021 which amounted to IDR 10 trillion. Meanwhile, the number of MORA's equity rose to IDR 6.2 trillion at the end of 2022, compared to the end of 2021 which amounted to IDR 4.5 trillion.