• CNMA posted IDR 5.7T revenue in 2024
Nusantara Sejahtera Raya (CNMA) recorded revenue of IDR 5.7T in 2024 (+9.2% yoy). In line,
net profit after tax increased 8.1% yoy to IDR 802.5B, with EBITDA reaching IDR 1.8T. CNMA
also continues to expand its service reach by opening 16 new cinema locations throughout
2024, adding 70 screens. Currently, the company operates a total of 256 cinemas with 1,350
screens in 65 cities/regencies throughout Indonesia. This step helped increase the number
of viewers to 87.1M in 2024, growing 3.3% yoy compared to 84.3M in 2023. The increase in
revenue FY24 was driven by sales of cinema tickets and food and drinks, which reached IDR
5.5T (+9.8% yoy). Furthermore, to increase shareholder value, CNMA plans to buy back shares
with a maximum value of IDR 300B because the current share price was deemed not to
reflect the actual business fundamentals. The company limits the buyback price to a
maximum of IDR 270 per share and will implement it in stages within a maximum of 12
months after approval from the Annual General Meeting of Shareholders (AGMS), which is
scheduled for 24 Mar 25. Thus, the final deadline for implementing the buyback is 24 Mar 26.
(Kontan)
• ITMG booked USD 374.11M net profit in 2024
Indo Tambangraya Megah (ITMG) posted a revenue of USD 2.30B (-2.94% yoy). Coal sales
volume rose to 24M tons (+15% yoy), though the average selling price of coal (ASP) fell 16%
yoy in line with the normalization of coal prices. Meanwhile, ITMG’s cost of revenue fell 1.6%
to USD 1.6B. Thus, ITMG’s gross profit declined to USD 698.8M (-5.89% yoy). In line, ITMG’s net
profit fell to USD 374.11M (-25.23% yoy). (Bisnis Indonesia)
• TMAS net profit declined 13.96% in 2024
Temas (TMAS) recorded a net service revenue of IDR 4.34T (+0.9% yoy). In detail, the majority
of TMAS revenue was obtained from shipping services with third parties reaching IDR 4.23T
(+2.46% yoy). On the other hand, revenue from loading and unloading services decreased by
27.55% yoy to IDR 103.29B. Meanwhile, revenue from shipping with related parties was
recorded at IDR 5.34B, down from IDR 17.18B in the previous year. Then, loading and
unloading services from related parties also fell 94.62% to IDR 670M. Along with the increase
in revenue, TMAS service costs were also recorded to have increased by 7.91% yoy to IDR
3.44T. As a result, gross profit decreased by 19.19% to IDR 900.18B. After deducting various
expenses, TMAS recorded a net profit of IDR 673.36B (-13.96% yoy). (Bisnis Indonesia)
