Speed Sales Up 40 Percent, Multi Medika International Will Do This

Illustration of the Indonesia Stock Exchange (Photo: Doc. Antara)

JAKARTA - PT Multi Medika Internasional Tbk (MMIX) targets sales to reach 35 to 40 percent year on year (yoy) in 2023.

The sale of this company in the health and beauty sector will be supported from three new product categories, namely food & beverages (F&B), cosmetics, and fast-moving consumer goods (FMCG) which use an IP license or intellectual property.

"We have protection revenue, in order to support also increase income by 35 to 40 percent for 2023 and 2024," said MMIX Financial Officer (CFO) Chief of Eveline N Susanto quoting Antara.

Along with that, MMIX CEO & Founder Mengky Mangarek revealed that the company's financial performance in the second quarter of 2023 was better than the same period in 2022, as well as the first quarter of 2023.

"If we close IDR 82 billion in 2022, in the second quarter of 2023 this year it will reach IDR 92 billion," he said.

He explained that the company's revenue was contributed by the sale of masks with the BT21 variant of 42 percent, regular products at 36 percent, and the rest was merchandise.

Furthermore, regarding capital expenditure (capex), he said the company had used 22 percent until the second quarter of 2023 from the overall 2023 capex.

MMIX posted a net profit for the current period which grew 36.1 percent (yoy) to Rp11 billion in the first quarter of 2023, compared to the previous Rp8 billion in the first quarter of 2022.

Mengky revealed that the net profit was supported by the company's sales which reached Rp52 billion in the first quarter of 2023, an increase of 42.7 percent (yoy) compared to the same period in 2022.