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20240801_MNCN_Laporan Informasi dan Fakta Material_31689891_lamp1.pdf
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Jakarta, Indonesia - 1 Agustus 2024
PT MEDIA NUSANTARA CITRA Tbk
RINGKASAN KEUANGAN H1-2024 & Q2-2024
Pendapatan
PT Media Nusantara Citra Tbk (IDX: "MNCN" atau PENDAPATAN
"Perseroan") melaporkan pendapatan Q2-2024 (Dalam Miliar Rupiah)
sebesar Rp2.018 miliar, naik sebesar 1% YoY dari
Rp2.004 miliar pada tahun 2023. Meskipun
pendapatan non-digital masih tertekan untuk kuartal
ini, pendapatan lain dari digital dan berlangganan
meningkat masing-masing sebesar 3% YoY dan 51%
YoY. Selain itu, pendapatan konten bersih (penjualan
konten pihak ketiga) juga mengalami peningkatan
signifikan. Pada H1-2024, total pendapatan konsolidasi
mencapai Rp4.346 miliar, turun hanya 2% YoY dari
Rp4.446 miliar pada H1-2023.
Pendapatan Iklan
Selama Q2-2024, MNCN mencatat pendapatan iklan
PENDAPATAN IKLAN
(Dalam Miliar Rupiah) sebesar Rp1.490 miliar, turun sebesar 10% YoY dari
Rp1.661 miliar pada Q2-2023. Untuk mengatasi
penurunan pada bisnis non-digital Perseroan, MNCN
saat ini mengambil langkah-langkah proaktif dengan
mendiversifikasi operasinya melalui berbagai inisiatif
baru dalam bisnis kunci lainnya. Untuk H1-2024,
Perseroan mencatatkan Rp3.375 miliar, mewakili
penurunan sebesar 13% YoY dibandingkan dengan
periode yang sama tahun lalu.
AUDIENCE SHARE AD SPEND SHARE
PRIMETIME | YTD JUNE 2024 YTD JUNE 2024
Sumber: Nielsen Jan-Jun 2024 Sumber : Marketing Corporate Analyst Data Source (Report Adex Nett Assumption), Periode
Jan – Jun 2024
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Pendapatan Konten
Pada Q2-2024, pendapatan dari konten mencapai PENDAPATAN KONTEN
(Dalam Miliar Rupiah)
Rp507 miliar, meningkat sebesar 32% YoY
dibandingkan dengan periode yang sama tahun lalu.
Hal ini terutama disebabkan oleh peningkatan
produksi konten original dan licensing library kepada
pihak ketiga. Untuk pendapatan konten secara
bersih (setelah eliminasi), pendapatan konten pihak
ketiga pada Q2-2024 mencapai Rp313 miliar dari
sebelumnya Rp193 miliar, yang merupakan
peningkatan sebesar 62% YoY. Selanjutnya, pada H1-
2024, pendapatan konten setelah eliminasi
mencapai Rp602 miliar dari Rp262 miliar,
menunjukkan peningkatan sebesar 129% YoY.
Pendapatan Berlangganan
PENDAPATAN BERLANGGANAN Pendapatan berlangganan mencapai Rp189 miliar
(Dalam Miliar Rupiah)
pada Q2-2024, meningkat 51% YoY dibandingkan
tahun lalu, sementara secara QoQ, pendapatan
berlangganan meningkat sebesar 45%. Hal ini
didukung oleh perpaduan konten yang berkualitas
tinggi seperti program olahraga (berbagai
pertandingan sepak bola timnas Indonesia, RCTI
Premium Sports, dan EURO 2024), konten original,
serta berbagai kemitraan dengan operator
telekomunikasi, e-commerce, dan penyedia ISP yang
mendorong pelanggan baru. Untuk H1-2024,
pendapatan berlangganan telah meningkat 28% YoY,
dari Rp249 miliar menjadi Rp320 miliar.
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Beban Langsung
Pada Q2-2024, beban langsung mengalami penurunan BEBAN LANGSUNG
sebesar 6% YoY menjadi Rp1.112 miliar karena (Dalam Miliar Rupiah)
efisiensi pengadaan konten dan beberapa judul TV
yang diproduksi di Movieland. Movieland telah
menyelesaikan 68% dari proses pembangunannya dan
memiliki berbagai backlot dan fasad yang dapat
digunakan untuk produksi konten. Selain itu, pada H1-
2024, biaya langsung Perseroan mengalami penurunan
sebesar 4% YoY menjadi Rp2.019 miliar dari Rp2.109
miliar.
Production Infrastructure
EBITDA
(Dalam Miliar Rupiah) EBITDA & Laba Bersih
Pada Q2-2024, Perseroan melaporkan EBITDA sebesar
Rp591 miliar, menunjukkan peningkatan sebesar 36%
YoY dibandingkan tahun sebelumnya dengan margin
EBITDA sebesar 29% (dari 22% pada Q2-2023). Selain
itu, Perseroan memperoleh laba bersih sebesar Rp307
miliar (peningkatan sebesar 101% YoY) pada periode
yang sama, menghasilkan margin laba bersih sebesar
15%. Untuk H1-2024, EBITDA dan laba bersih tercatat
LABA BERSIH sebesar Rp1.533 miliar dan Rp883 miliar, yang telah
(Dalam Miliar Rupiah) mengalami peningkatan secara absolut dan begitu
juga margin dibandingkan dengan H1-2023.
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Program Unggulan
Meskipun belanja iklan, khususnya di FTA TV belum pulih pada paruh pertama
tahun 2024, MNCN berencana menayangkan beberapa tayangan in-house
unggulan pada paruh kedua tahun 2024. Program-program ini diharapkan dapat
mendongkrak pendapatan Perseroan dan meningkatkan margin, serta
menampilkan beragam pertandingan timnas Indonesia. Program special yang
dijadwalkan untuk tayang pada H2-2024 adalah sebagai berikut.
NOTABLE UPCOMING PROGRAMS
Super Hitz Festival
Konser/festival MNCN selanjutnya di LMAC, KEK MNC
Lido dijadwalkan untuk berjalan pada akhir pekan ini
dan akan menampilkan berbagai musisi lokal ternama.
Setelah itu, MNCN akan menyelenggarakan festival
besar di Q4-2024, yang akan mencakup artis
internasional. Sebagai tambahan, acara konser/festival
Perseroan sebelumnya pada bulan September 2023
telah berhasil dengan 80.000 penonton.
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Prospek untuk H2-2024
Memasuki semester kedua tahun 2024, ada gambaran yang jelas bagi MNCN untuk akhirnya
mencapai pertumbuhan positif tahun ini. Meskipun pendapatan dari FTA TV terus menurun,
aliran pendapatan utama lainnya untuk Perseroan telah menunjukkan peningkatan yang
signifikan. Selain itu, kontribusi FTA TV terhadap total pendapatan adalah 41,3% pada Q2-2024
dan 45,8% pada H1-2024, menunjukkan bahwa sumber utama pendapatan MNCN kini sudah
datang dari pendapatan non-FTA.
Komentar dari Hary Tanoesoedibjo, Executive Chairman MNC Group
“ Kami telah mencapai kesuksesan di Q2-2024, ditandai dengan pertumbuhan kinerja
operasional dan keuangan yang signifikan, khususnya pada pertumbuhan pendapatan di
sektor digital, langganan, dan konten kami. Meski masih dihadapi dengan tantangan dalam
operasi FTA kami, kami tetap mempertahankan guidance pencapaian tahun ini. Inisiatif-inisiatif
strategis kami telah dilaksanakan secara efektif, dan hasil yang diharapkan telah terlihat pada
Q2-2024 sehingga kami perkirakan akan berlanjut ke dua kuartal berikutnya.
Ringkasan Kinerja Keuangan H1-2024 & Q2-2024
”
Actual Actual
Consolidated Income Statement Variance Variance
(in million IDR) H1-2024 H1-2023 YoY Q2-2024 Q2-2023 YoY
Revenues 4,345,886 4,446,018 -2% 2,018,228 2,004,025 1%
Advertisement 3,374,743 3,886,036 -13% 1,489,985 1,660,859 -10%
Digital 1,383,089 1,350,167 2% 655,886 635,839 3%
Non-Digital Advertising 1,991,655 2,535,869 -21% 834,100 1,025,020 -19%
Content and IP 978,948 727,788 35% 506,581 382,530 32%
Subscription 319,710 249,035 28% 188,964 124,996 51%
Others (MNC) 49,914 48,600 3% 26,212 24,879 5%
(Elimination) (377,430) (465,441) -19% (193,515) (189,239) 2%
Direct Cost *) 2,019,335 2,109,038 -4% 1,111,819 1,188,878 -6%
Depreciation & amortization (DC) 184,008 189,739 -3% 90,657 92,496 -2%
Gross Profit 2,142,543 2,147,241 0% 815,752 722,651 13%
Gross Profit Margin 49% 48% 40% 36%
General and Administrative Expenses *) 793,692 847,078 -6% 315,602 382,235 -17%
Depreciation & amortization (GA) 198,979 209,438 -5% 99,638 103,897 -4%
EBITDA 1,532,859 1,489,902 3% 590,807 432,912 36%
EBITDA margin 35% 34% 29% 22%
Net Income (Loss) 883,314 829,823 6% 307,114 152,846 101%
Net Income Margin 20% 19% 15% 8%
*) : Excluding depreciation and amortization
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Jakarta, Indonesia - 1 August 2024
PT MEDIA NUSANTARA CITRA Tbk
SUMMARY OF H1-2024 & Q2-2024
Total Revenue
PT Media Nusantara Citra Tbk (IDX: “MNCN” or “the TOTAL REVENUE
Company”) reported its Q2-2024 revenue of Rp2,018 (In Billion Rupiah)
billion, up by 1% YoY from Rp2,004 billion in 2023.
Although, non-digital revenue is still pressured for the
quarter, other revenue line of the Company from
digital and subscription have increased by 3% YoY and
51% YoY, respectively. Furthermore, net content
revenue (3rd party content sales) has also seen a
significant advancement. In H1-2024, total
consolidated revenue has reached Rp4,346 billion,
decreased by a mere 2% YoY from Rp4,446 billion in
H1-2023.
Advertising Revenue
During Q2-2024, MNCN recorded an advertising
ADVERTISING REVENUE
(In Billion Rupiah) revenue of Rp1,490 billion, declined by 10% YoY
from Rp1,661 billion in Q2-2023. To encounter the
setbacks on the Company’s non-digital business,
MNCN is currently taking proactive measures in
diversifying its current operations with numerous
new initiatives within its other key businesses. For
H1-2024, the Company posted Rp3,375 billion,
representing 13% YoY decrease compared to the
same corresponding period last year.
AUDIENCE SHARE AD SPEND SHARE
PRIMETIME | YTD JUNE 2024 YTD JUNE 2024
Source: Nielsen Jan-Jun 2024 Source : Marketing Corporate Analyst Data Source (Report Adex Nett Assumption), Periode
Jan – Jun 2024
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Content Revenue
As of Q2-2024, revenue from content and IP has CONTENT REVENUE
(In Billion Rupiah)
reached Rp507 billion, marking a 32% increase YoY
compared to the same period last year. This was
mainly due to the increase in production of original
content and library licensing to third party. On net
terms (after elimination), 3rd party content sales in
Q2-2024 amounted to Rp313 billion from Rp193
billion previously, which is a 62% YoY increase.
Furthermore, in H1-2024, content revenue after
elimination was at Rp602 billion from Rp262 billion,
exhibiting a whooping 129% YoY.
Subscription Revenue
SUBSCRIPTION REVENUE Subscription revenue stood at Rp189 billion in Q2-
(In Billion Rupiah)
2024, increased by 51% YoY compared to last year,
while on a QoQ basis, subscription revenue increased
by 45%. This was supported by a mix of high-quality
content of sporting programs (various Indonesia
national team soccer matches, RCTI Premium Sports,
and EURO 2024), in-house original titles, as well as
various partnerships with telco operators, e-
commerce, and ISP provider that drives new
subscribers. For H1-2024, subscription revenue has
increased by 28% YoY, from Rp249 billion to Rp320
billion.
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Direct Cost
In Q2-2024, direct cost has decreased by 6% YoY to DIRECT COST
Rp1,112 billion due to content procurement efficiency (In Billion Rupiah)
and some TV titles produced out of the Company’s
outdoor studio facility, Movieland. Movieland has
finished 68% of its construction process and has
variety of backlots and facades that can be used for
content production purposes. Additionally, in H1-2024,
the Company’s direct cost has decreased by 4% YoY to
Rp2,019 billion from Rp2,109 billion
Production Infrastructure
EBITDA
(In Billion Rupiah) EBITDA & Net Income
In Q2-2024, the Company reported an EBITDA of
Rp591 billion, indicating a 36% YoY increase compared
to the previous year. This led to an EBITDA margin of
29% (from 22% in Q2-2023). Additionally, the
Company has attained a net income of Rp307 billion
(101% YoY increase) during the same period, resulting
in a net income margin of 15%. For H1-2024, EBITDA
and net income was recorded at Rp1,533 billion and
NET INCOME Rp883 billion, respectively, which have seen an
(In Billion Rupiah) improvement in absolute terms and also margins
compared to H1-2023.
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Upcoming Programs
Although advertising spending, especially on FTA TV, has not yet rebounded in the
first half of 2024, MNCN has planned to air some of its historically most successful
in-house special programs in the second half of 2024. These programs are expected
to boost the Company’s revenue and improve margins, along with featuring various
matches of the Indonesian national team. Key in-house special programs scheduled
for H2-2024 include.
NOTABLE UPCOMING PROGRAMS
Super Hitz Festival
MNCN's next concert/festival at LMAC, SEZ MNC Lido
City is scheduled for this weekend and will feature
performances by various well-known local musicians.
Following this, MNCN will organize major festival in Q4-
2024, which will include international artists. For
context, the Company's previous event in September
2023 drew a successful crowd of 80,000 attendees.
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Outlook for H2-2024
Looking ahead into the second semester of 2024, there’s clear visibility for MNCN to finally
attained positive growth this year. Even though revenue from FTA TV continues to decline,
other major revenue streams for the Company have shown substantial improvement.
Moreover, FTA TV's revenue contribution to total revenue was 41.3% in Q2-2024 and 45.8% in
the first half of 2024, indicating that the primary source of MNCN's revenue is now coming
from non-FTA lines.
Comments from Hary Tanoesoedibjo, Executive Chairman of MNC Group
“ We have achieved a successful financial quarter, marked by significant performance and
revenue growth across our digital, subscription, and content sectors. Despite persistent
revenue challenges in our FTA operations, we are maintaining our full-year guidance. Our
strategic initiatives have been implemented effectively, and the favorable outcomes observed
in Q2-2024 are expected to extend into the subsequent two quarters.
Summary of Key Financial Performances H1-2024 & Q2-2024
”
Actual Actual
Consolidated Income Statement Variance Variance
(in million IDR) H1-2024 H1-2023 YoY Q2-2024 Q2-2023 YoY
Revenues 4,345,886 4,446,018 -2% 2,018,228 2,004,025 1%
Advertisement 3,374,743 3,886,036 -13% 1,489,985 1,660,859 -10%
Digital 1,383,089 1,350,167 2% 655,886 635,839 3%
Non-Digital Advertising 1,991,655 2,535,869 -21% 834,100 1,025,020 -19%
Content and IP 978,948 727,788 35% 506,581 382,530 32%
Subscription 319,710 249,035 28% 188,964 124,996 51%
Others (MNC) 49,914 48,600 3% 26,212 24,879 5%
(Elimination) (377,430) (465,441) -19% (193,515) (189,239) 2%
Direct Cost *) 2,019,335 2,109,038 -4% 1,111,819 1,188,878 -6%
Depreciation & amortization (DC) 184,008 189,739 -3% 90,657 92,496 -2%
Gross Profit 2,142,543 2,147,241 0% 815,752 722,651 13%
Gross Profit Margin 49% 48% 40% 36%
General and Administrative Expenses *) 793,692 847,078 -6% 315,602 382,235 -17%
Depreciation & amortization (GA) 198,979 209,438 -5% 99,638 103,897 -4%
EBITDA 1,532,859 1,489,902 3% 590,807 432,912 36%
EBITDA margin 35% 34% 29% 22%
Net Income (Loss) 883,314 829,823 6% 307,114 152,846 101%
Net Income Margin 20% 19% 15% 8%
*) : Excluding depreciation and amortization
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For further information, please contact: PT MEDIA NUSANTARA CITRA Tbk
Investor Relations: MNC Tower, 29th floor
Luthan Fadel Putra Jl. Kebon Sirih Kav 17 - 19
luthan.putra@mncgroup.com Jakarta 10340
Phone: 62-21 3913338
Fax : 62-21 3910454
Disclaimer
By accepting this Press Release, you are agreeing to be bound by the restrictions set out below. Any failure to comply with these
restrictions may constitute a violation of applicable securities laws. The information and opinions contained in this Press Release have
not been independently verified, and no representation or warranty, expressed 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. It is not the intention to
provide, and you may not rely on this Press Release as providing, a complete or comprehensive analysis of the condition (financial or
other), earnings, business affairs, business prospects, properties or results of operations of the company or its subsidiaries. The
information and opinions contained in this Press Release are provided as at the date of this presentation and are subject to change
without notice. Neither the company (including any of its affiliates, advisors and representatives) nor the underwriters (including any of
their respective affiliates, advisors or representatives) shall have any responsibility or liability whatsoever (in negligence or otherwise) for
the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever
arising from any use of this presentation. In addition, the information contained in this Press Release contains projections and forward-
looking statements that reflect the company’s current views with respect to future events and financial performance. These views are
based on a number of estimates and current assumptions which are subject to business, economic and competitive
uncertainties and contingencies as well as various risks and these may change over time and in many cases are
outside the control of the company and its directors. No assurance can be given that future events will occur, that projections will be
achieved, or that the company’s assumptions are correct. Actual results may differ materially from those forecasts and projected. This
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securities and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision
in relation thereto. Any investment in any securities issued by the company or its affiliates should be made solely on the basis of the final
offer document issued in respect of such securities.
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