Jan 10, 2011

MNC targets Rp1.02 trio net income

PT Media Nusantara Citra Tbk (MNC), parent company of Indonesia's largest television company such as Rajawali Citra Televisi, Global TV, and MNC, has targeted Rp6.13 trillion consolidated revenue in 2011. EBITDA is expected to reach Rp1.86 trillion and net income is estimated to break the level of Rp1.02 trillion.
MNC today also reported a 72% increase in November's net income (11M10) to Rp646 billion from Rp375 billion in 11M09 as a result of higher margin and consolidated revenue.
In a press statement submitted to Indonesia Stock Exchange (IDX) today, MNC's EBITDA margin rose to 28% from 23%. Operating income jumped 85% to Rp1.05 trillion in 11M10 from Rp571 billion in 11M09 on the back of higher revenue.
MNC posted a 36% increase in revenue to Rp4.37 trillion from Rp3.21 trillion, mostly underpinned by a steep jump in advertisement revenue of 41%, while content and value added services grew 10%. MNC's shinny performance is mainly contributed by broadcasting businesses where TV ads contributed approximately 77% to the company's consolidated revenue.   

Disclosure: No position at the stock mentioned above.

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