Sales Increase 42.7 Percent, Multi Medika Internasional Earns IDR 11 Billion Profit In The First Quarter Of 2023

JAKARTA - PT Multi Medika Internasional Tbk (MMIX) recorded a net profit for the current period of IDR 11 billion in the first quarter of 2023. This achievement grew 36.1 percent year on year (yoy) compared to the previous IDR 8 billion in the first quarter of 2022.

MMI President Director Mengky Mangarek said that the net profit was supported by the company's sales which reached Rp52 billion in the first quarter of 2023, or an increase of 42.7 percent yoy compared to last year.

"This is very encouraging because it is proven that the strategy to use IP (intellectic property) has succeeded in improving the company's performance," said Mengky.

In 2023, he conveyed that MMI is innovating not only in mask products, but, starting to enter the daily consumption product industry, including tissue, wet tissue, as well as fast food such as bread, sausages and fast food drinks, such as coffee, tea and bottled mineral water based on IP.

"MMI has issued other than fashion masks, aromatherapy patches, and now the company will launch fast food and beverage products, and consumer products every day and beauty products, and skin/self care. Not to mention later in the middle of this year we plan to open a flagship store in Jabodetabek," said Mengky.

He explained that the company's performance in 2023 could exceed last year due to several innovations, such as the manufacture of mask products that are fashionable and licensed by international IPs, thus providing additional added value added to customers.

Although the products launched are of international quality, he said the prices set are affordable by the community with a range of 10 thousand to 39 thousand, and can be easily reached because the company is collaborating with Alfamart and Indomaret, whose distribution routes reach 40,000 stores in Indonesia.

Furthermore, his party is optimistic that MMI will achieve significant marketing sales growth from IDR 175 billion in 2022 to 250 to 300 billion in 2023, or an increase of around 30 to 40 percent yoy.

He explained that this was supported by three new product categories, namely F&B, beauty and skin care, and FMCG which used an IP license.

In addition, his party hopes that the MMI margin will grow above IDR 50 billion by 2023.