03 Jan 2023

IATA Financial Performance Achieved More Than Double Growth

Jakarta, 3 January 2023 – PT MNC Energy Investments Tbk (IATA or the Company) recorded revenue of USD 166.6 million up to November 2022, a 130.2% year-on-year (yoy) jump from USD 72.4 million last year. The number also beats FY-2021 performance by asignificant margin, with a 110.5% increase compared to the whole 2021 performance of USD 79.1 million.

The Company's EBITDA in 11M-2022 grew positively by 127.6%, reaching USD 66.3 million from USD 29.1 million in the same period last year. As a result, IATA's net profit rose by 100.1% yoy from USD 22.9 million in 11M-2021 to USD 45.8 million in 11M-2022.

When compared to FY-2021 performance, IATA’S 11M-2022 result is sturdy. Apart from the revenue, the Company's EBITDA also soared by 468.3% from USD 11.7 million to USD 66.3 million. As a result, the net profit skyrocketed by 729.1%, from USD 5.5 million in December 2021 to USD 45.8 million within eleven months of last year.

On the balance sheet, the Company's total assets increased by 107.4% from USD 99.9 million in FY-2021 to USD 207.2 million in 11M-2022. Total equity in 11M-2022 also showed a positive figure at USD 89.0 million after being negative due to the effect of consolidating the acquisition of PT Bhakti Coal Resources (BCR) into the Company's Consolidated Financial Statements. After the Company completed the Rights Issue process in November 2022, the acquisition was paid in full, resulting in positive equity and PT MNC Asia Holding Tbk (BHIT) officially owned 44.1% of IATA shares.

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