08 May 2023
Metland Records Revenue Growth in the First Quarter of 2023
PT Metropolitan Land Tbk (MTLA) in the first quarter of 2023 recorded operating revenues of IDR 322.4 billion, growing by 30% compared to the same period last year or Year on Year (YoY) of IDR 248.2 billion, as well as net profit The company in 2023 reached IDR 68.2 billion, an increase of 11% from the same period the previous year of IDR 61.3 billion.
MTLA's residential sales amounted to IDR 203.8 billion, up 33%, while the acquisition of recurring income was IDR 118.6 billion, up 26% YoY. Ongoing projects such as Metland Cyber Puri and Metland Cibitung are the largest contributors to the Company's sales revenue in the first quarter of 2023 and to positive growth recurring income from its shopping center and hotel business units. In addition, the Company's asset value in the first quarter of 2023 was recorded at IDR 6.7 trillion, this figure decreased from IDR 6.74 trillion on 31 December 2022, this decrease was due to a decrease in short-term liabilities from IDR 1.43 trillion to IDR 1.27 trillion. Meanwhile, the total equity of MTLA in the first quarter of 2023 was IDR 4.85 trillion, an increase from IDR 4.76 trillion at the end of December 2022.
MTLA added a new business unit, namely Hotel Horison Ume Suites & Villas Ubud which is located in Bali. Hotel Horison Ume Suites & Villas Ubud is the first 5-star hotel owned and managed by MTLA, and is equipped with Ume Coffee & Dining Resto and Day Club facilities which will begin operating in the second quarter of 2023.
MTLA is also continuing the development of ongoing residential projects such as Metland Cyber Puri which is currently re-marketing The Northbend cluster phase 3, Metland Cibitung is also re-marketing the Havana cluster phase 2 and Metland Cileungsi which is presenting its newest product type Senna which is in The Colony cluster, so also with Metland Transyogi which will launch its newest product. In addition, MTLA is preparing two new residential projects, one of which is Metland Cikarang which is planned to start sales in the second half of 2023.
In 2023 MTLA targets marketing sales consisting of pre-sales and recurring revenue of IDR 1.8 trillion.
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