FY2021 Key Highlights:
| Financial Performance | FY21 (in millions of Rp) |
FY20 (in millions of Rp) |
%Growth YoY |
| Net Revenue | 12,908,103 | 11,181,671 | 15.4% |
| Gross Profit | 1,196,226 | 1,048,633 | 14.1% |
| GP Margin | 9.3% | 9.4% | |
| Operating Expenses | (840,894) | (801,203) | 5.0% |
| Operating Profit | 476,912 | 344,706 | 38.4% |
| Net Finance Income (Cost) | 31,831 | 57,308 | (44.5%) |
| Share of Profit (Loss) of Associates | 25,494 | (118,551) | Turnaround |
| Net Profit from Continuing Operations | 423,834 | 190,425 | 122.6% |
| Net (Loss) Profit from Discontinued Operation | (12,086) | (56,853) | (78.7%) |
| Profit for the Period | 411,748 | 133,572 | 208.3% |
| Net Margin | 3.2% | 1.2% | |
| EBITDA | 842,394 | 516,187 | 63.2% |
Performance
Overall, the Company's financial and operational performance had improved compared to the previous year, where the performance was above the target set at the beginning of 2021. All business segments have shown their resilience during the pandemic by recording an increase in the net profits, except for the Insurance segment which posted a relatively stable profit growth despite the good gross premium growth.
Distribution, Retail, and Aftermarket Segment recorded an 18.7% in revenue which generated approximately 90% of the total consolidated revenue driven by the strong sales growth of the two-wheel market nationwide. MPMulia sold 646 thousand units, rose 16% from the same period last year. Throughout 2021, MPMulia strived to maximize the collaboration between Main Dealer, Dealer, and financial company to support sales and to maintain the domination of market share, conducting offline marketing activities with attractive, effective, and efficient marketing programs; as well as implementing various digital initiatives to improve business ecosystem.
For the Transportation Segment, MPMRent’s revenue decreased by 7% compared to the same period last year mainly due to the lower used car sales volume. In 2021, AUKSI the subsidiary of MPMRent launched an online auction which increased the used car sales margin by 23%, higher than the set target of 20%.
As the Insurance Segment, MPMInsurance recorded an increase of premium growth by 29%, despite the 9% decrease in revenue. This was due to the lower profit contribution from the premium of vehicle insurance products, even though there was growth in other insurance products.
Our associates JACCS MPMFinance Indonesia made a better contribution with the improvement of net profit and lower NPL>90 Days to 2.3%.
Dividend
As an ongoing commitment in rewarding the shareholders, the Company has distributed dividends at Rp115, - per share in 2021 for the financial year 2020. The company aims to continue its promise of delivering outstanding investment returns to its shareholders in the long run.
Business Outlook
Furthermore, in 2022 the Company will continue to be more innovative to create products that are relevant to the market nowadays and consistently seeks opportunities for potential mergers and acquisitions in order to develop business in a non-organic manner that can bring added value to our shareholders and stakeholders.
