GMS Financial Year 2022: PT Martina Berto Tbk Optimist for Better Performance Prospects in 2023

Today, Thursday (22/06), PT Martina Berto Tbk held the Annual General Meeting of Shareholders to report the financial book that ended on December 31, 2022. The annual financial and business report has been received and also gets approval and ratification in the General Meeting of Shareholders.

In the annual meeting, the Director of the Company reported that the performance of PT Martina Berto Tbk (MBTO) in 2022 recorded an improvement compared to 2021 by spurring 70% of growth, reducing losses, and fixing the cash flow. In 2022, the Company succeeded to reach sale growth of Rp360,183 billion which was better than in 2021, Rp210,528 billion. Meanwhile, the net profit after tax in 2021 was posted minus number Rp148 billion, it significantly decrease in 2022 to Rp42 billion.

In 2023, the Company targets 39% profit growth worth more or less Rp500 billion. The Company optimist could achieve the target by lower COGS from 63,04% to 61,17%, increasing the effectiveness of marketing costs from 23,85% to 19,17% and general cost from 21,15% to 14,89% so expected the company could achieve business net profit Rp23 billion from the loss Rp26 billion in 2022 to reach EBITDA from minus Rp8 billion into positive Rp37 billion.

Knowing the business performance in the first quarter of 2023 is quite pleasing, President Director of PT Martina Berto Tbk, Bryan Davit Emil optimists the Company performance prospect will grow better this year. In the first quarter only, Company was able to record sales worth Rp112.434 billion and gross profit worth Rp38.679 billion, this number is much better compared to the first quarter of 2022.

Bryan added to fix the performance in 2023, Company will continue to improve the quality and brand images for Sariayu Martha Tilaar, Biokos, and Rudy Hadisuwarno Cosmetics specifically, packaging design rejuvenation, innovation, product reformulation which still with the Clean Beauty concept, investment in digital media and online sales, and also manufacture, supply chain, purchasing, and consolidated financial accounting refinement. Besides that, the Company will also sharpen the strategy for marketing and multi-distributors which are Tiga Raksa and Penta Valent, and the latest is with PT Parit Padang Global. MBTO also maintains and strengthens its sales through PT Tara Parama Semesta (TPS), the umbrella company for Martha Tilaar Shop (MTS) and online sales, and through its unit business PT Cedefinfo which focuses in the contract manufacturing field.

MTS through an omnichannel mechanism function as a customer experience center for the customers and targets a more middle-up class market with premium product variant compared to independent outlets. Today, the Company has 9 outlets of MTS and 4 shops in shops spread across the big cities of Indonesia. Meanwhile, PT Cedefindo focuses on toll manufacturing with a resource-sharing mechanism. Experienced since 1981, PT Cedefindo has produced around 80% of indie brand circulation in the Indonesia market, in collaboration with influencers, artists, public figures, college students, and young entrepreneurs. Not only indie brands, but some multinational and national companies also trust their production in PT Cedefindo. The improved performance of PT Cedefindo and PT Tara Parama Semesta is certainly expected to improve its parent company's total consolidation, PT Martina Berto Tbk.