Investindo Partner Aims For Revenue And Profit Increases Fourfold In 2023

JAKARTA - PT Mitra Investindo Tbk (MITI) targets revenue and profit to quadruple in 2023. This reflects the company's positive performance during the first quarter of 2023 and national economic performance.

Until the first quarter of 2023, the company posted consolidated revenues of IDR 84.24 billion or representing 69.12 percent of the 2022 financial year's revenue of IDR 121.88 billion.

Meanwhile, net profit reached IDR 14.31 billion or representing 93.26 percent of the net profit for the 2022 financial year which amounted to IDR 15.34 billion, and the EBITDA margin increased to 23.69 percent, compared to the 2022 financial year which was 18 percent.

"The management is optimistic that the achievement of the performance record for the first quarter of 2023 obtained in the third term will be the basis for achieving performance in 2023 which is expected to experience a four-fold increase in revenue and profit," said MITI Finance Director Ignatius Edy Suhardaya quoting Antara.

Ignatius said the company will continue to improve service quality, strengthen loading and unloading service infrastructure, and strengthen collaboration and synergy between companies within the MITI business group, with asset support, business networks owned to optimize business opportunities and prospects in 2023 and in the years to come.

He explained that the loading and unloading cargo handling business segment contributed IDR 54.42 billion or 64 percent of total revenue in the first quarter of 2023, with a profit achievement of IDR 9.233 billion or 64.51 percent of the total consolidated profit gain in the first quarter of 2023.

Then, the revenue of the shipping service business segment is IDR 16.04 billion or 19.04 percent of the total consolidated revenue in the first quarter of 2023.

In addition, during the first quarter of 2023, he explained that the company recorded a solid balance sheet profile, where liquidity was maintained with the Current Ratio to 314.88 percent, compared to the 2022 financial year which was 293.36 percent.

"The company will continue to maintain the company's liquidity by taking into account strict risk management in maintaining business sustainability in the future," said Ignatius.

Dalam jangka panjang, perusahaan yang bergerak di bidang permukilan dan industri minyak dan gas bumi akan memperkuat struktur modal secara inorgan melalui akumulasi laba tertahan yang didapatkan dari hasil operasi entitas anak.

However, the additional paid-up capital through the capital market remains open as a source of funding in realizing the business growth strategy in an inorganic manner in the future.