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Annual Public Expose
Tuesday, March 31, 2026
PT DISTRIBUSI VOUCHER NUSANTARA Tbk
AXA Tower Lt. 7, Suite 5, Kuningan City
Jl. Prof. Dr. Satrio Kav. 18, Setiabudi
Jakarta 12940
Ph: (+62)21 30480712
Facs: (+62)21 30480713
Email: corporate@ptdvn.com
Web: www.ptdvn.com
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DISCLAIMER
The information contained in this document is strictly confidential and has been prepared by PT Distribusi Voucher Nusantara Tbk (“DIVA” or the ”Company”). This document may not be taken away,
reproduced or redistributed, in whole or in part, to any other person without the prior written consent of the Company.
This document is not intended to provide and should not be relied upon for tax, legal or accounting advice, investment recommendations or a credit or other evaluation of an investment in the
Company. Prospective investors should consult their tax, legal, accounting or other advisers. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the
fairness, accuracy, completeness or correctness of the information, or opinions contained herein. None of the Company or their respective advisors or representatives shall have any responsibility or
liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
The third party information and statistical data in this presentation have been obtained from sources the Company believes to be reliable but there can be no assurance as to the accuracy or
completeness of the included information. This presentation may not contain all material information concerning the Company and the information set forth in these materials is subject to change
without notice. None of the Company or their respective advisors or representatives is under any obligation to update or keep current the information contained herein. The contents of these
materials have not been verified and audited by the lawyers and auditors. Accordingly, none of the Company, or their respective directors, officers or affiliates makes any representation or warranty,
express or implied, as to the accuracy or completeness of the information in this presentation, and nothing in this presentation is, or should be relied upon as, a promise or representation by any of
them.
Certain statements in this document may constitute "forward-looking statements", including statements regarding the Company's expectations and projections for future operating performance and
business prospects. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company
will operate in the future. Such forward-looking statements speak only as of the date on which they are made. Accordingly, the Company expressly disclaim any obligation to update or revise any
forward-looking statement contained herein to reflect any change in the Company's expectations with regard to new information, future events or other circumstances. The Company does not make
any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one of
many possible scenarios and should not be viewed as the most likely or standard scenario. Accordingly, prospective purchasers should not place undue reliance on any forward-looking statements.
This document is for information and convenient reference and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of or solicitation or invitation of
any offer to buy or subscribe for any securities of the Company. This presentation and the information contained herein are being furnished to you solely for your information and may not be
reproduced or redistributed to any other person, in whole or in part. In particular, neither the information contained in this presentation nor any copy hereof may be, directly or indirectly, taken or
transmitted into or distributed in any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a
violation of the applicable securities laws. No money, securities or other consideration is being solicited, and, if sent in response to this presentation or the information contained herein, will not be
accepted.
By reviewing these presentation materials, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will
conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
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Agenda 1 Executive Summary 2 Company Overview 3 Macro and Industry Overview 4 Challenges and Opportunities 5 Business Strategy and Initiatives 6 Financial and Operational Overview 7 Target vs Achievement 3
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Executive Summary
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Highlights
Macro Macro
Indo GDP growth: 5.03%
Indo GDP growth: 5.11%
FY24 FY25
Sector Sector
MSME NPL ratio: 3.75%
MSME NPL ratio: 4,33%
IDXTECHNO: 3,981
IDXTECHNO: 7,060
Company
Company
Revenue (+8.30%) = Rp 4.173,5Bio
Revenue (-16.02%) = Rp 3.504,9Bio
Operating Profit (+132.3%) = Rp22.6Bio
Operating Profit (-31.9%) = Rp15.4Bio
Net profit (loss) = (Rp237.5Bio)
Net profit (loss) = Rp46.5Bio
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Company Overview
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About DIVA A technology-based company providing an integrated digital platform for SMEs in Indonesia. As a digital enabler, we are committed to serving companies, including the MSME sector, with our transformational technology. We continuously enrich and enhance our products and services to better serve MSMEs in ways they have never experienced before.
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Vision & Mission
Vision Mission
Becoming a high-growth technology To convert and accelerate traditional
company, providing easy-to-use solutions businesses into an integrated business
to empower Indonesian MSMEs to platform, through multi-product and
become a powerhouse of the national multi-channel digital business offerings.
digital economy.
Vision & Mission Review:
The Company’s Vision and Mission are regularly reviewed by the Board of Commissioners and the Board of
Directors to ensure that they align with business developments and industry dynamics. The results of the
review show that the Company’s Vision and Mission remain relevant to the Company’s founding intentions
and in line with the latest industry developments.
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Management Team
Bambang Irawan
President Commissioner (Independent)
The Board of Commissioner • +20 years of experience in Finance and
Consulting
• CFO of Agec Techno (2006–2022).
Sebastian Togelang
Commissioner
• A venture capitalist with
+20 years of experience
in Investment and Tech
industry
• Founding partner at
Kejora Capital (2013 –
present), Board Member
at Sicepat Express (2017-
present), and Finfleet
(2016–present).
Artiko Samudro
Independent Commissioner
• +20 years of experience in
telco industry
• VP/Head of Distribution
Excellence Management
(2011-2013) at Smartfren
Telecom (2013–2015)
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Management Team
The Board of Director Raymond Loho
President Director
• A seasoned IT expert with +20 years of
experience in the IT and Telco industry
• Director of 1 Inti Dot Com (2014-present),
Media Karya Nusantara (2017-2022)
Tati Ramawati
Director
• +20 years of experience in
Marketing and Management
Stanley Tjiandra
Director
• +20 years of experience in
Accounting & Finance,
Corporate Restructuring,
M&A, Equity Research,
Strategy and Investments
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The Digital Ecosystem Group
Digital Products Parkour – Smart Parking System
Smart POS System Dolan – Event Ticketing System
Payment Gateway Kasirku – Self Service Terminal
SGB Distribution Partner IsiinAja – Multi Card Top-up
EV Dealer Partner Tour and Travel
Distribution Channel Logistic & Drop Points
LokerIn – Loker Self Service
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DIVA Offers a Plug-and-play Digital Platform for SMEs
Digital Products
DIVA provides a universal access point Payment Enabler Banking
aggregating all modes of payment
while processing digital services
Digitizing Indonesia SMEs
It enables SMEs to access and
distribute digital products to drive
revenue growth
DIVA Smart Outlet Kasirku Intelligent Messaging
Big Data Analytics Principal
The platform records valuable data
that can be leveraged to different types Agents SMEs Enterprise
of service, such as fulfilment and B2B
Capturing Valuable Data
financing
End Customer
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Expanding Our Platform From Offline to Online
Using Power of Instant Messaging and Mobile Applications
Big Data Analytics Top Up Balance
• Costumer Demography • Card • Application
e-Money OVO
• Transaction Analysis BRIZZI Dana
• Profile Update Capability Tapcash LinkAja
Flazz Gopay
WhatsApp
Monetary Balance checking and update
Transfer between members, LinkAja Via Application (IsiinAja)
cash withdrawal Vending Machine
Alfamart , Minimart.
Bill Payment & Vouchers Card Dispenser
Phone Credits, Electricity Internet Vending Machine
Package, Gowes, Movie Ticket, Water,
Train Tickets, Airline Tickets, etc Indomaret, Alfamart, Minimart.
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Macro and Industry Overview
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SEA Sustains its Growth Momentum
Notes:
GMV includes only ecommerce, food delivery, transport, online travel, and
Notes: online media, while revenue includes digital financial services in addition to
All mentions of ‘SEA-6’ refer to these six markets: Indonesia, GMV sectors.
Malaysia, Philippines, Singapore, Thailand, and Vietnam.
‘ASEAN-4’ refers to Brunei, Cambodia, Laos, and Myanmar.
‘ASEAN-10’ refers to all 10 aforementioned countries.
Source: Google, Temasek, Bain & Company 2025 Report ; World
Bank
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Macroeconomic GDP Growth
Regional GDP Economic Growth Indonesia GDP Growth
4,7 5,12
16
4.6% 5.1% 5.1%
4,6 5,1
4,5 5,08
4,4
5,06
4,3
5,04
4,2
4.1% 5,02
4,1 5.0%
4.0% 5
4
4,98
3,9
3,8 4,96
3,7 4,94
2023 2024 2025 2023 2024 2025
Regional GDP growth rose from 4.0% in 2023 to 4.6% in 2024, before moderating slightly to 4.1% Indonesia’s GDP growth was recorded at 5.1% in 2023, edged down slightly to 5.0% in 2024,
in 2025. Despite this moderation, growth remained stable and resilient. before rebounding to 5.1% in 2025. This movement reflects the continued stability and resilience
of the national economy amid global uncertainties.
Source: IMF World Economic Outlook update October 2025 Source: Badan Pusat Statistik (Statictics Indonesia)
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USD/Rp Exchange Rate Trend
Kurs [Rp]
The USD/IDR exchange rate trend shows a fluctuating but
overall upward movement, indicating a gradual depreciation of
the Rupiah against the US Dollar. After experiencing volatility
with periods of strengthening and weakening, the Rupiah
tends to weaken again toward the end of the period, reflecting
external pressures and market dynamics. This trend is
consistent with broader data showing the USD/IDR reaching
higher levels in 2025 and beyond, signaling ongoing currency
volatility and sensitivity to global economic conditions.
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Market Potential from MSME Digitalization
in Indonesia Remains Significant
CHARACTERISTICS OF
DIGITAL TECHNOLOGY ADOPTION
IN SMES
Large enterprises represent less than 0.01% of all Total Indonesian SMEs:
business entities in Indonesia, highlighting the 65 million SMEs in Businesses that operate fully integrated
digital ecosystems, including e-commerce
dominance of MSMEs in the national economy. Indonesia platforms, digital payment systems, data
analytics, and digital marketing capabilities to
support end-to-end online business
The Indonesian government continues to accelerate MSME operations.
digitalization, targeting 30 - 35 million MSMEs to enter the digital
ecosystem through national programs supporting e-commerce Businesses that utilize digital platforms
such as social media, websites, or online
adoption, digital payments, and online platforms.
marketplaces to engage customers and
support basic online transactions.
Businesses that use basic digital tools such
Despite increasing adoption of digital platforms, many as messaging applications, email, or social
MSMEs remain in early stages of digital transformation, media primarily for communication, but
indicating significant market potential for digital have limited digital commerce capabilities.
solutions.
Businesses that operate primarily through
conventional channels with minimal or no
adoption of digital technologies.
Total MSMEs in Indonesia:
65 million business units
Representing 99.9% of all business Sources:
entities Badan Pusat Statistik (BPS), Ministry of
Cooperatives and SMEs (KemenKopUKM),
Contribution to GDP: Indonesia MSME Statistics, National MSME
Development Report
60% - 61% of national GDP Digitalization pyramid represents a conceptual framework illustrating stages of SME digital adoption.
Equivalent to around Rp9,500 - Rp9,700 Framework illustration – not statistical classification. 18
trillion
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Challenges in Indonesia’s MSME Sector
NPL UMKM Indonesia
Regional GDP Economic Growth
4,5 4.33%
The Non-Performing Loan (NPL) ratio of MSMEs in Indonesia shows an increasing
trend, rising from 2.44% in 2022 to 3.71% in 2023, slightly increasing to 3.76% in 4 3,76%
3,71%
2024, and projected to reach 4.33% in 2025. This upward trend reflects ongoing
NPL UMKM (%)
pressures faced by the MSME sector, including weakened purchasing power, 3,5
economic conditions, and repayment capacity, making it a key challenge for the
stability and growth of financing in this segment.
3
2,44%
2,5
2
1,5
1
2022 2023 2024 2025
Source: OJK - Statistik Perbankan Indonesia
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Challenges and Opportunities
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Challenges and Opportunities
Challenges Opportunities
Uncertainty in both global and domestic The rapid advancement of digital
macroeconomic conditions technology has created various new
business opportunities for enterprises.
The increasing adoption of digital
An increasingly dynamic and competitive technology has positioned the digital
business landscape economy as one of the main drivers of
economic growth.
Acceleration of digitalization across Digital transformation not only drives
sectors changes in transaction patterns and
consumer behavior, but also accelerates
the integration of a more inclusive and
Rising expectations for fast, secure, and technology-based economic ecosystem.
integrated transaction services
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Business Strategy and Initiatives
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Core Strategy
Forming strategic
alliances to speed up
market domination
Developing complete Enriching the
and deep digital infrastructures
distribution with use cases
infrastructures
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Creating an End-to-end Digital Ecosystem That Integrates Our Product &
Services Across the Supply chain: Synergy on Traditional SME Outlets
SME Business
POS + DIVA IIM + Digital Product + Payment + Drop Points + Smart Parking
TRADITIONAL STORE
Advertising Screen Digital Product
Drop Points
Top Up Package Delivery
e-money
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Creating an End-to-end Digital Ecosystem That Integrates Our Product &
Services Across the Supply chain: Synergy on Transportation Platform
TRANSPORTASI
POS + Kiosk + Smart Parking + Payment + Ads. Display
COMMUTER LINE
Parkour
TICKETING Point of Sale (POS)
Advertising
Screen
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Creating an End-to-end Digital Ecosystem That Integrates Our Product &
Services Across the Supply chain: Synergy in FnB Outlets
F&B Business
POS + Supply Chain + SGB + Payment + Smart Parking
RESTO
Advertising Screen Advertising Screen
Parkour
Payment Gateway
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Creating an End-to-end Digital Ecosystem That Integrates Our Product &
Services Across the Supply chain: Synergy on Traditional SME Outlets
AMUSEMENT PARK
POS + Smart Parking + Payment + Tour and Travel + IsiinAja
AMUSEMENT PARK
Parkour TICKETING
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Event Highlights 2025
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Event Highlights 2025
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Event Highlights 2025
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Event Highlights 2025
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Event Highlights 2025
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Financial and Operational Overview
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Operating Performance by Business Segment
(Expressed in Billion Rupiah, Unless Otherwise Stated)
Revenues FY24 FY25 % YoY
Digital Products & Services 3,435.2 2,868.4 (16.5%)
Tour & Travel 107.4 82.9 (22.8%)
Digital Financial Services 609.3 542.5 (10.97%)
Other Ecosystem Generated Revenue 21.6 11.1 (48.5%)
Total Revenues 4,173.5 3,504.9 (16.02%)
*) Attributable to the owners of the Company
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Financial Performance
(Expressed in Billion Rupiah, Unless Otherwise Stated)
Profit & Loss FY24 FY25 % YoY
Revenues 4,173.5 3,504.9 (16.02%)
Gross Profit 160.6 159.8 (0.5%)
EBITDA 38.1 32.2 (15.4%)
Operating Income 22.6 15.4 (31.9%)
Net Income* (237.5) 46.5 N.M
Financial Position FY24 FY25 % YoY
Asset 776.1 737.8 (4.9%)
Liabilities 121.5 33.8 (72.1%)
Equity 654.6 703.9 7.5%
*) Attributable to the owners of the Company
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Target vs Achievement
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Target vs Achievement
Description Target 2025 Realization 2025 Achievement (%) Target 2026
Operating Profit
Positive 15,4 Achieved Positive
(Rp Billion)
Net Gearing Ratio (x) Max. 1.0x (4,99) Achieved Max. 1.0x
DIVA aims to maintain a positive operating profit in 2026. This optimism is rooted in our commitment to
innovation and developing new products and services that align with market needs. Furthermore, DIVA’s
strategic position as a key player in the digitalization of MSMEs in Indonesia fortifies this outlook.
The Company is confident that with the right strategy and solid execution, these objectives can be
achieved in 2026.
In terms of capital structure, the Company targets a net debt (cash) to equity or net gearing ratio of no
more than 1.0x.
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THANK YOU
PT DISTRIBUSI VOUCHER NUSANTARA Tbk
AXA Tower Lt. 7, Suite 5, Kuningan City
Jl. Prof. Dr. Satrio Kav. 18, Setiabudi
Jakarta 12940
(+62)21 30480712
www.ptdvn.com
corporate@ptdvn.com
AXA Tower Lt. 7, Suite 5, Kuningan City, Jakarta
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Pusat Statistik
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Ministry of Cooperatives and SMEs
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