01 July 2022
Earns IDR 372 Billion Profit, Metland Shares 17.5 Percent Dividend
JAKARTA, KOMPAS.com - Even though the Covid-19 pandemic has brought heavy impacts and challenges to the property sector, PT Metropolitan Land Tbk or Metland was able to record a positive performance throughout 2021. For the 2021 financial year, the Company managed to record a profit of IDR 372 billion. This figure jumped 36.62 percent from the previous year of Rp 272 billion. Metland's Finance Director and Corporate Secretary Olivia Surodjo said that the achievement in 2021 was better than 2020. "The company was able to record an increase in profits even though the pandemic is still one of the challenges that must be overcome," Olivia said during a press conference after the AGM in Bekasi, Friday (1/1) 7/2022).
Of the total net profit, 17.5 percent or Rp 65.07 billion was distributed to shareholders. The company also decided that the profit to be allocated as a reserve was Rp 2 billion. While the rest is recorded as retained earnings to increase working capital.
In addition to posting profits, the Company also managed to record asset growth of 8.04 percent to Rp 6.4 trillion and an 8.08 percent increase in equity to Rp 4.4 trillion. The total value of the Company's revenue also grew positively, amounting to Rp. 1.19 trillion, an increase of 7.99 percent from the previous year of Rp. 1.11 trillion. The increase was contributed by the sale of land and buildings to consumers, with the largest portion from Metland Menteng and Wisteria, Metland Cyber City, and Metland Cibitung. All projects contributed with a composition of 73 percent from sales of residential and strata title properties, 18 percent from shopping center rental income, 6 percent from hotel operations, and 3 percent from the operation of recreation centers, offices, and others.
Four Strategies Facing the constellation of the property sector in 2022, which is believed to be very challenging, the Company will implement four strategies to anticipate an increase in the Bank Indonesia (BI) 7 Day Reverse Repo Rate reference rate, and a surge in construction materials. As is known, although the benchmark interest rate is still at 3.5 percent, a number of economists estimate that BI will make changes in time. Meanwhile, the most significant increase in construction material prices in the January-June period, based on the Market Monitoring System and Basic Needs of the Ministry of Trade, occurred in steel, concrete and cement. President Director of Metland Anhar Sudradjat explained that the four strategies are product reviews, prices, easy payment methods for consumers, and innovative sales methods. The review of the product in question is to design a residence with the concept of a growing house, which provides an opportunity for consumers/residents to make additional space as needed. "The size of the building is smaller, but allows residents to add space to the top (two floors), at a more affordable (affordable) price," Anhar said in response to Kompas.com, after the AGMS in Bekasi, Friday (1/7/2022). The affordability of this price is the second review, where Metland will play in the range of Rp. 600 million to a maximum of Rp. 2 billion. As offered by the Samara Cluster at Metland Transyogie with an initial price of IDR 800 million, and the Emerald Cluster at Metland Tambun for IDR 700 million. In addition to these two clusters, the Company also continues to market products that have been launched previously, namely the Oxalis Phase II Cluster in Metland Puri with prices starting from Rp. 1.5 billion, Jura Type B Lite Phase II in Metland Menteng with initial prices starting from Rp. 1.6 billion. . While the third review is the ease of paying through an interest-free installment scheme of 48 months or two years, down payment subsidies or down payment (DP), to free promos for BPHTB, AJB, and KPR provisions. "This program is implemented to anticipate a decline in sales due to the plan to increase bank interest rates," Metland Director Wahyu Sulistio added. While the fourth review is an innovative way of selling. Wahyu explained, the Company continues to innovate and promote advertising and digital marketing strategies to provide additional stimulus in order to regenerate people's purchasing power.
As of May 2022, Metland was able to record pre-sales worth Rp 607 billion, the majority of which was contributed by landed house sales, and the remaining 10 percent from recurring assets.
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