13 November 2024

MTLA Recorded Profit Increase in the Third Quarter of 2024

In the midst of the decline in people's purchasing power, PT Metropolitan Land Tbk (Metland) in the third quarter of 2024 managed to book a net profit of IDR 314 billion, up 4.4 percent compared to the same period of IDR 301 billion. Meanwhile, MTLA's operating income in the third quarter of 2024 amounted to Rp1.305 trillion or grew by 1.6 percent from the previous year in the same period of Rp1.284 trillion.

The contribution of each of Metland's business areas to total revenue is 68 percent from residential sales and 32 percent from shopping centers, hotels, recreation centers and other income. Metland Cyber Puri, Metland Menteng and Metland Cibitung contributed the most to the Company's sales revenue. Meanwhile, the Company's recurring income was driven by Metropolitan Mall Bekasi shopping center, Grand Metropolitan and Horison Ultima Seminyak Bali Hotel.

In addition, the Company's assets in the third quarter of 2024 amounted to Rp7.45 trillion, up 3.2 percent compared to the end of the previous year and the Company's equity of Rp5.44 trillion, up 5.7 percent compared to the end of the previous year.

Marketing sales until October 2024 amounted to Rp1.503 trillion or 79 percent of the 2024 target. Olivia Surodjo. Director of PT Metropolitan Land Tbk explained that currently the VAT DTP incentive is one of the factors driving Metland's revenue from home sales.

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