iye bagus deh tuh report 2019 nya $MNCN tapiiiii Turunin dulu dong nDar yg banyaaaaaaaaaak


$MNCN Unaudited 2019 – Above, Maintain BUY, TP IDR1,900/sh
• Slightly above top-line IDR8.3tn (+12.2% yoy growth) top-line is 104.4% of ours and 101.7% of cons, in-line vs both figures. Bottom-line of IDR2.4tn (+46.5% yoy and 28.2% NPM) is also slightly above ours and consensus, making up 105.3% and 109.0% respectively.

• Digital driving leading the charge Digital units posted IDR697.4bn (+167.1% yoy growth) again above our figures of IDR601bn driven by robust performance in News portal, YouTube, and RCTI+ starting to contribute. Going forward digital will continue to lead the growth, with FTA might also feel some lift from MNCTV possibly moving to tier-1 status and

• Positively affected by strengthening Rupiah the company booked c.110bn FX gain vs a loss of IDR299.6bn of last year, stemming from Rupiah gaining 3.6% in 2019. Core profit of IDR 2.2tn is 105.2% of ours and reflect a margin of 26.8%.

Maintain BUY TP 1,900/share, waiting for audited 2019. MNCN Currently trades at 7.0x EV/EBITDA (below avg) and 9.9x 2020 P/E (below avg)

For further information please refer to:
http://bit.ly/2Sh43dT