30 Nov 2022

MNC Group (BHIT) Shifts Into High Gear To Succeed Against Competition

Jakarta, 30 November 2022 – PT MNC Asia Holding Tbk (the Company or MNC Group or BHIT) released its financial report for the month of September 2022. The Company managed to record a net revenue of Rp 11,900.3 billion in 9M-2022. The largest revenue was achieved by non-digital advertising at Rp 3,542.1 billion, followed by pay TV and broadband at Rp 2,110.8 billion. Meanwhile, digital advertising continued to dominate the Company's revenue growth, increasing by 33.4% year-on-year (yoy) in 9M-2022 to Rp 1,903.5 billion compared to Rp 1,427.1 billion in 9M-2021. In addition, the digital financial services sector skyrocketed by 191.1% yoy from Rp 68.9 billion in 9M-2021 to Rp 200.6 billion in 9M-2022. The Company recorded EBITDA of Rp 4,291.8 billion, representing 36.1% EBITDA margin and net profit of Rp 1,675.4 billion.

On a quarterly basis, the Company managed to record a net revenue of Rp 3,580.0 billion in the third quarter of 2022, which was obtained from the media sector that contributed Rp 2,682.0 billion, the financial services sector of Rp 666.5 billion, and Rp 231.5 billion from others. These revenues helped the Company to record a net profit of Rp 619.4 billion in the third quarter of 2022 or an increase of 23.5% from Rp 501.5 billion in the second quarter of 2022.

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