JAKARTA – PT Media Nusantara Citra Tbk (MNCN) has prepared a strategy to strengthen capital and develop business in the digital media and entertainment industry. This decision was taken at the Annual General Meeting of Shareholders (AGM).

MNCN President Director Noersing explained that the decision was taken in line with the plan to use the company's net profit which will be allocated to strengthen capital and business development, especially in the digital media and entertainment sector.

"The company's net profit for the 2024 financial year of IDR 1 billion will be recorded as a reserve fund to fulfill the company's articles of association and Law No. 40 of 2007 concerning Limited Liability Companies," he said at the MNCN GMS at the MNC Conference Hall, iNews Tower, Jakarta, Friday (20/6/2025).

Noersing emphasized that there will be no dividend distribution for the 2024 financial year. The remaining net profit will be recorded as retained earnings to support the company's strategic plan funding in strengthening capital and developing business in the digital media and entertainment industry.

Meanwhile, MNCN Director, Ruby Panjaitan, explained the company's financial performance for the 2024 financial year. MNCN managed to record revenue of IDR 7.95 trillion, up 2% compared to 2023 which was IDR 7.78 trillion.

- Revenue from digital increased by 4%.
- Revenue from content and IP increased by 38%, from IDR 1.28 trillion to IDR 1.76 trillion.
- Revenue from subscriptions also increased by 44%.

This increase had a positive impact on the company's profitability. Gross profit increased by 1%, from IDR 3.61 trillion to IDR 3.66 trillion.

EBITDA also increased by 3%, from IDR 2.33 trillion to IDR 2.39 trillion, with an EBITDA margin reaching 39%.

Net income also increased by 5%, from IDR 1.09 trillion to IDR 1.14 trillion.

The MNCN AGM also approved changes to the composition of the Board of Commissioners and Directors which have been in effect since the meeting closed. Here is the latest composition:

Board of Commissioner:
President Commissioner : Hary Tanoesoedibjo
Commissioner: Syafril Nasution
Independent Commissioner: Joel Richard Hogarth

Board of Directors:
President Director: Noersing
Deputy President Director: Kanti Mirdiati Imansyah
Director: Ruby Panjaitan
Director: Tantan Sumartana
Director: Dini Aryanti Putri
Director: Cahyarina Agustina Asri

Source: economy.okezone.com