MPMX Demonstrates Sturdy Performance in 2020 With Positive Result and Starts Strong in The First Quarter 2021 With Rp120 Billion Net Profit
PT Mitra Pinasthika Mustika Tbk (IDX Ticker: MPMX, the “Company”), one of Indonesia’s leading consumer automotive and transportation company, today has successfully held the Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) in Company’s office, Lippo Kuningan Building, Jakarta, following all the Covid-19 virus prevention procedures required by the Government.
The AGMS has resolved various agendas, among others is the acceptance and approval of the Company’s Consolidated Financial Statement for the period which ended on 31 December 2020.
The Company's consolidated revenue throughout 2020 was recorded Rp11.2 trillion, and net profit was recorded Rp133.6 billion, respectively decreased by 32.5% and 71.3% YoY as a result of the impact of the Covid-19 pandemic.
“2020 was an extraordinary year with market developments dominated by the challenges arising from the Covid-19 pandemic. I am thankful for the speed and dedication with which the MPMX team and subsidiaries implemented by giving their best efforts in mitigation actions and always putting the health and safety of our employees and customers first. Amidst the volatile and unpredictable year due to the Covid-19 pandemic, we have demonstrated MPMX’s resilience and agility under the most difficult of circumstances. Despite the Covid-19 pandemic, the financial achievement in 2020 demonstrated the Company’s ability to perform, as reflected by the positive Net Profit of Rp133.6 billion,” said Suwito Mawarwati, Group Chief Executive Officer MPMX.
The EGMS also approved the distribution of Final Cash Dividend to the shareholders of the Company in the amount of Rp115 (One hundred fifteen Rupiah) per share from the Company's retained earnings as of 31 December 2020. This amount represents a dividend yield of 14% as of closing price on Tuesday, 25th May 2021. The Final Cash Dividends distribution is our ongoing commitment to continuously deliver returns and appreciation to our shareholders in the form of long-term consistent dividend distribution.
Suwito added, “Management sees that The Company managed to maintain smooth operation by conducting efficiency in its operating expense as a result of cost leadership, including disciplined cash flow management to keeping the cash position remains healthy at level above Rp1 Trillion even though the business performance was significantly affected by the impact of the Covid-19 pandemic.
In the first quarter of 2021, we can see a continuing recovery trend with operational indicators improved in all business segments. The Company managed to record a positive revenue growth of IDR 3.2 trillion and a Net Profit of IDR 120 billion, which is a very encouraging performance if compared to FY2020 Net Profit of IDR 133.6 billion.
Suwito interpreted this achievement in the first quarter as a result of the Company's ability to adapt quickly, remain agile and flexible as it seeks to take advantage of all opportunities.
“Going forward, the Company will continue to maximize its performance through the development of new products, strengthening digitization, and continuing a series of strategic policies that focus on the business resilience by strengthening internal processes including maintaining the good relationships with our customers, carrying out effective yet qualified operational activities, and continue with the cost efficiency through cost leadership strategy and ensure healthy cash flow are maintained,” concluded Suwito Mawarwati.
About PT Mitra Pinasthika Mustika Tbk
PT Mitra Pinasthika Mustika Tbk (“MPMX”) is a leading automotive consumer company in Indonesia, established in 1987 by William Soeryadjaya. MPMX is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group.
MPMX’s vision is to have a positive impact on life through smart mobility and social integration. By collective power, we aim to deliver the most relevant products and services to the people in our ecosystems through innovation. Our businesses offer a broad spectrum of mobility solutions, from retailing and distributing motorcycles and cars, after-market parts and services, transportation services, and financial services.
For further information, please visit www.mpmgroup.co.id or contact:
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