Jakarta, Indonesia - 28 June 2018
Summary of Financial Results 5M-2018
- MSIN continued to book tremendous revenue growth of 34% YoY to Rp559.8 billion in 2018 from Rp418.5 billion in the previous year.
- Direct cost increased by 24% YoY to Rp375.5 billion from Rp303 billion in 2017, the increase is in-line with the expansion in production and below our top line growth as the company continues to benefit from economies of scale.
- The Company also sees a significant increase in gross profit by 59% in 2018 amounting to Rp179.7 from Rp112.8 billion in the previous year.
- EBITDA grew by 67% YoY in 2018, the company managed to book Rp136.6 billion compared to Rp81.7 in the previous year, representing EBITDA margin of 24.4%.
- Net income increased by 46% YoY in 2018, MSIN secured Rp87 Billion in net profit compared to Rp59.6 in the previous year, representing net income margin of 15.5%.
- The Company is on track to achieve its full year top line and bottom line target growth of 45-50% and 75- 80% respectively for FY-2018.
MSIN maintained its stellar financial performance throughout the first 5 months of 2018, driven by the Company’s continuous efforts in producing top quality drama series. All of the drama programs produced by MNC Pictures, a wholly owned subsidiary of MSIN, outperformed its expectation and majority ranked among the top ten highest rating throughout the Ramadhan season, which has 2 prime time slots, Sahur and the regular Prime Time. This outstanding performance will benefit the Company’s revenue through additional incentives for top program rating, built-in sponsorship, and virtual advertising placement.
Meanwhile Starpro, the Company’s infotainment content producer has achieved an impressive performance by delivering 6 out of the top 10 infotainment programs throughout 5M-2018. The Company is set to further drive up its performances as MSIN has successfully set up a joint venture called Asia Media Productions, which focuses on the production of reality programs and gameshows. This JV will contribute an additional 3-4% and 4-5% revenue to MSIN in 2018 and 2019, respectively.
MNC Pictures Building
MNC Studios Complex
Jl. Raya Perjuangan No.1, Kebon Jeruk
Jakarta Barat, 11530, Indonesia