PRESS RELEASE
FOR IMMEDIATE RELEASE
March 28, 2025
2024 Highlights:
- Rp11.4 trillion in revenue, reflecting 4% year-on-year growth
- Bank debt reduced by Rp216.1 billion, reinforcing financial discipline
- Efficiency gains across all investment portfolios, driving profitability and focus
Jakarta, March 28, 2025 – MPC (PT Multipolar Tbk, “the Company”, stock code: MLPL) demonstrated resilience amid a year of market uncertainty, delivering another year of growth while further strengthening its financial foundation. For the full year 2024, the Company recorded revenues of Rp11.4 trillion, an increase of 4.0% from Rp11.0 trillion in the previous year. Despite external headwinds, MPC maintained its focus on operational discipline and balance sheet efficiency, resulting in a reduction of consolidated bank loans to Rp1.8 trillion by year-end 2024. Net profit attributable to the parent entity stood at Rp159.2 billion, compared to Rp172.0 billion in 2023.
In the retail segment, Matahari Putra Prima (MPPA, stock code: MPPA) delivered a remarkable turnaround in 2024, posting an operating profit of Rp34 billion — a sharp reversal from an operating loss of Rp111 billion in the previous year. This significant recovery reflects the impact of disciplined cost optimization, streamlining of underperforming stores, and a regionally tailored strategy that enhanced customer experience and marketing effectiveness. With renewed momentum, MPPA is focused on accelerating its transformation efforts to sustain profitability and growth in 2025.
Matahari Department Store (MDS, stock code: LPPF) also demonstrated strong financial resilience in 2024, delivering a 22.5% increase in net profit to Rp828 billion, despite a 2.0% decline in gross sales to Rp12.3 trillion. This performance was driven by ongoing efforts to improve cost efficiency and optimize store operations, resulting in an EBITDA uplift of Rp13 billion. MDS’s growth strategy is anchored in private label expansion and brand innovation. In 2024, MDS launched new consumer-focused initiatives aimed at the younger demographic, including the continued rollout of SUKO (now present in 79 stores) and the debut of ZES in the fourth quarter. In 2025, MDS plans to deepen its private label assortment, enter new categories such as home furnishings, and continue enhancing its customer offering to support long-term, sustainable growth.
In the Technology & Digital segment, Multipolar Technology (MLPT, stock code: MLPT) recorded sales of Rp3.7 trillion in 2024, representing a 13.1% increase from Rp3.3 trillion in the previous year. This growth reflects MLPT’s continued momentum in enabling digital transformation across Indonesia. Looking ahead, MLPT will focus on scaling its capabilities in core digital domains — including hybrid infrastructure, data and AI, digital & automation, and security — while actively seeking new investment opportunities to ensure sustainable growth and profitability. These efforts reinforce MLPT’s position as a key technology partner in Indonesia’s digital future.
Across its businesses, MPC remains committed to creating long-term value by staying disciplined, customer-focused, and adaptive. The Company will continue to execute its strategy with resilience, even amid uncertainty — leveraging strong operational foundations to unlock new opportunities in 2025 and beyond.
Adrian Suherman, CEO & President Director of MPC, said: “Amid market instability, MPC has been able to maintain resilience and continue its momentum with the efficiency strategy initiatives implemented across our investment portfolio. Going forward, MPC will enhance its adaptability and remain resilient in facing various challenges to generate sustainable growth.”
ABOUT MPC
MPC is an investment company focused on consumer & technology services in Indonesia. MPC is listed on the Indonesia Stock Exchange (IDX). MPC’s portfolio includes several entities listed on the IDX, including PT Matahari Putra Prima Tbk (“MPPA”; stock code MPPA), operator of “Hypermart”, one of Indonesia’s leading supermarket chains, PT Matahari Department Store Tbk (“MDS”; stock code LPPF), which operates the largest department store network in Indonesia, PT Multipolar Technology Tbk (“MLPT”; stock code MLPT), PT First Media Tbk (“FM”; stock code KBLV) & PT Bank National Nobu Tbk (“NOBU”; stock code NOBU).
FURTHER INFORMATION:
Agus Arismunandar
Chief of Business Development & Investor Relations – MPC
agus.arismunandar@mpc.id