PT Martina Berto Tbk to Announce New Independent Commissioner, Optimist for Improvement in the Second Semester Performance

Jakarta (24/8) - Today, Thursday, August 24, 2023, PT Martina Berto Tbk held the Extraordinary General Meeting of Shareholders (EGMS) with agenda Approval of Changes in the Composition of the Management PT Martina Berto Tbk by Appointing a New Independent Commissioner of the Company. The company announced the agenda through the Indonesia Stock Exchange’s website, eAsy KSEI, and the company’s website.

As known, the Company has lost its previous Independent Commissioner, the late Tjan Hong Tjhiang, who passed away on May 22, 2023. To strengthen the Company team and to fulfill the OJK Rules and other Statutory Regulations which regulate Independent Commisioners, on today’s EGMS it was approved the appointing of Purba Sibarani as the new Company’s Independent Commisioner. Related to that, the Company Management Composition that will applied starting from today to the end of the Annual GMS in 2025 is as follows:

Director:

President Director : Bryan David Emil

Director : Kilala Tilaar

Director : Jos Irwin Hartanto


Board of Commisioners:

Chief Commisioner : Martha Tilaar

Commisioner : Ratna Handana

With the presence of the new Independent Commissioner, PT Martina Berto Tbk optimist the performance of the Board of Directors, Board of Commissioners, and the Company will be more solid so it is expected to support the Company performance to grow more positively throughout 2023. This expectation was strengthened by looking at the results of the first semester which were quite encouraging, the Company optimist can achieve better results in the second semester. In the first semester alone, the Company grew 43,86% (net sales year to date July 2023 worth Rp246 billion compared to the year to date July 2022 that record numbers Rp171 billion). This number can be achieved by decreasing discount from 16,25% to 14,10% marketing activities and sales achieved from 25,62% to 19,95% and general cost efficiency from 24,68% to 19,14% so it produces profit operating from minus Rp14 billion to Rp9,4 billion and EBITDA which good enough from minus Rp4 billion to Rp18,6 billion, and profit after tax from minus Rp19 billion to Rp1,2 billion.

As information, this 2023, the Company targeted 39% revenue growth with approx Rp500 billion. Company optimist can achieve the target by lowering COGS from 63,04%, increasing the effectivity of marketing cost from 23,85% to 19,17%, and general cost from 21,15% to 14,89% so it is expected to reach net operating profit of Rp23 billion from loss Rp26 billion in 2022 to reach EBITDA from minus Rp8 billion to positive Rp37 billion.

President Director of PT Martina Berto Tbk, Bryan David Emil explains that to fix the performance in 2023, the Company will continue to increase the quality and image brands such as Sariayu Martha Tilaar, Biokos, Rudy Hadisuwarno Cosmetics, to rejuvenate packaging design, innovation, and product reformulation which still with Clean Beauty concept, investment in digital media and boost online sales, refinement in manufacturing, supply chain, purchasing, and consolidated financial accounting. Besides that, the Company will also sharpen the strategy for marketing and multi-distributors which are with Tiga Raksa and Penta Valent, and the latest with PT Parit Padang Global. MBTP also will maintain and strengthen sales through PT Tara Parama Semsta (TPS) who manages Martha Tilaar Shop (MTS) and online sales, and also unit business PT Cedefindo (subsidiary MBTO) which engages in contract manufacturing field.


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Short Profie of Purba Sibarani:

Purba Sibarani, CPA, was born in November 21, 1963. Lives in Jatiasih, Bekasi, he holds a Bachelor of Accounting from Nommensen Medan University, North Sumatera, and a Certified Public Accountant (CPA) from Indonesia Public Accountant Institute – Institute Akuntan Pubblik Indonesia (IAPI).

He is an active professional in IAPI who actively participated in certified seminars about the development of accounting and financial treatment, capital market laws and regulations, PSAK, and so on.

Experience as a mentor and trainer for many auditor training and has followed auditor training from staff level, senior auditor, supervisor, associate, and auditor manager in Indonesia, Malaysia, and the US.

Has experience more than 33 years as an auditor who does auditing for well-known companies in Indonesia, such as PT Kalbe Farma Tbk Group, PT Enseval Putera Megatrading Tbk Group, PT Tempo Scan Pacific Tbk Group, PT BCA Finance, PT Adira Dinamika Multi Finance Tbk, PT Mandiri Finance, PT Indomobil Multi Jasa Tbk, and many more.