Metrodata Electronics (MTDL) Revenue IDR 1.5 Trillion in the First Quarter of 2024

KONTAN.CO.ID - JAKARTA. PT Metrodata Electronics Tbk (MTDL), a leading player in the information and communication technology (ICT) sector, reported a revenue of IDR 5.1 trillion in the first quarter of 2024, marking a 12.3% increase from the same period in 2023.

The company's net profit for the January-March 2024 period stood at IDR 147.3 billion, reflecting a modest 0.7% year-on-year growth.

"We are grateful that despite the prevailing wait-and-see attitude due to the uncertainty surrounding the presidential election, MTDL's revenue saw a double-digit increase in the first quarter of 2024," said MTDL's President Director, Susanto Djaja, in an official statement on Tuesday (30/4).

Djaja explained that the revenue growth was primarily driven by the Distribution Business Unit, which grew by 20.0% year-on-year.

The growth in the distribution business unit's revenue was largely fueled by a significant increase in smartphone sales and the growth of PC & notebook sales, indicating a recovery trend for the Consumer Distribution segment. Additionally, the diversification of a wide range of ICT product sales helped balance the company's risk.

According to Djaja, the political uncertainty led many businesses to postpone their spending, resulting in a slight decrease in the revenue of the solutions & consulting business unit by about 3.5% year-on-year.

Most of the revenue was still driven by trends in cloud, business applications, digital business platforms, and cybersecurity, contributing to growth. The sales of this business unit's services to the enterprise sector, such as banking and non-banking financial services, telecommunications, oil & gas, and manufacturing, continued to grow.

Given the convincing revenue performance in the first quarter of 2024, MTDL is optimistic about achieving more stable growth in the second semester of this year, making the IDR 25 trillion revenue target achievable.

Djaja stated that MTDL has a strategy to continue providing comprehensive solutions that are relevant in the market, expanding its product portfolio in line with market needs, and maintaining its dominant presence in the market.

"We will continue to explore the possibility of synergy in developing digital transformation solutions supported by Cloud, Data, and Artificial Intelligence solutions," Djaja said.