Mitra Adiperkasa: 2Q23 Earnings

Mitra Adiperkasa TbK

2Q23 Results

During April to June this year (2Q23), Mitra Adiperkasa (MAPI of the Company) posted total consolidated net revenues of IDR8.1tr, representing a 9.0% growth over the preceding quarter and a 22.9% over the same period last year (2Q22).  In 2Q23 gross margin was recorded at 46.4% vs.45.6% in 2Q22, while the operating margin was at 13.2% and 12.6%, respectively.  For the first semester this year (1H23), MAPI recorded a total consolidated net revenue of IDR15.6tr,+27.3% over the same period last year (1H22). 1H23 total revenue accounts for 51% of our full-year estimate (in Chart 1).

Cheers,