Corporates' Demand Increases, MTDL Continues to Book Positive Performance as of Third Quarter-2023
By : Nata Kesuma | Thursday, October 26 2023 - 12:50 IWST
PT Metrodata Electronics Tbk (MTDL)’s
INDUSTRY.co.id - Jakarta, October 25th 2023 — PT Metrodata Electronics Tbk (MTDL), a leading Digital Solution Provider and Technology Innovator company in Indonesia, continues to record positive performance as corporates’ demand continues to increase.
In addition, the Company's success in strengthening revenues in the Solutions and Consulting business unit, including Cloud services, Cyber Security, and Data & AI also provides a solid footing for MTDL's performance growth.
The Company's Solution Services continue to produce competitive advantages among other competitors in Indonesia with the completeness and complexity of the solutions offered. The company noted that total order bookings for Cloud and Cyber Security solutions each grew almost double in Quarter III-2023 compared to the previous period.
Apart from that, Data & AI solutions also have promising growth prospects. Data & AI is considered a new technology, and therefore, MTDL remains committed and sees great potential in the future as one of the drivers of the Company's growth.
Overall, in the third quarter of 2023, MTDL recorded a net profit of IDR 402 billion or an increase of 8.2% YoY. In the midst of a situation of global economic uncertainty, the success in recording net profit growth shows the strength of the Company's business fundamentals. This achievement was achieved through strong and complementary synergy between the Distribution business unit and the Solutions & Consulting business unit.
In terms of Cloud contribution, MTDL continues to lead with comprehensive solutions, supporting the growth of companies in adopting Cloud Hyperscaler technologies such as Azure, AWS, and Google Cloud, as well as Digital Business Platforms, Business Application, Cyber Security, Software Subscription, and SaaS solutions.
Susanto Djaja, President Director of MTDL, said, "Diversification of ICT products and services, as well as a large customer base, allows MTDL to grow sustainably. As a longtime player in the ICT industry, MTDL has successfully maintained long-term relationships with customers and even attracted new customer bases, demonstrating that the solutions and products offered by MTDL are relevant to the rapidly changing technology trends."
MTDL’s Distribution business unit succeeded in achieving a number of important achievements, including increasing market share, improving inventory levels which resulted in the increase of net profit. The Consumer segment, which experienced a slowdown in early 2023, has shown a significant improvement, resulting in a substantial 23.9% QoQ increase in revenue. Meanwhile, the Commercial segment has consistently recorded growth in line with the increasing demand for IT needs by corporates, achieving a robust 22.0% QoQ and 5.6% YoY growth.
Randy Kartadinata, Director of MTDL, said “In 3Q23, Solutions and Consulting business unit booked an increase of net profit by 19.8% YoY, with the revenues of IDR 4.4 trillion, up by 22.9% YoY. The Distribution business unit posted an increase of net profit by 2.3%, with revenues of IDR 11.4 trillion, down by 4.0% YoY. Overall, in the 3Q23 MTDL posted a net profit of IDR 402 billion, an increase of 8.2% YoY, with total consolidated revenues were stable at IDR 15 trillion”.
“MTDL is optimistic that the need for Information and Communication Technology (ICT) will continue to grow, and the company is ready to take an important role in this continued growth” Randy said.
Strong growth in the solutions and consulting business has made MTDL increasingly trusted by partners from global principals, one of which is NetApp. In this case, MTDL's subsidiary, namely PT Mitra Integrasi Informatika (MII), has achieved the Prestige title in the new NetApp Partner Sphere program. Prestige is a title given by NetApp to partnerships of the highest level.
"We see that the Indonesian economy will still experience challenges in the future, where the Rupiah exchange rate against the US Dollar has been weakening over the last 5 months. However, we remain optimistic and cautious, where our exposure to foreign currencies is around 20% of total sales and we also hedge our forex exposure. We hope that at the end of the year, we will still achieve net profit growth of around 8% yoy," concluded Randy.