Prospek Saham MCAS
PT M CASH INTEGRASI Tbk
Financial Performance – FY17
• FY17 net profit jumped 185.2% YoY to Rp7.9 billion, as revenues rose 254.8% YoY to Rp1.371 trillion
• Sturdy financial position: FY17 total assets +37 folds, net cash +70 folds and total equity +70 folds YoY after IPO proceeds.
FY17 net profit grew 185.2% YoY, 70% as revenues rose 254.8% YoY
PT M Cash Integrasi Tbk (MCAS or the Company) recorded FY17 net profit growth of 185.2% YoY to Rp7.9 billion, mainly driven by strong top-line performance, which posted a YoY jump of 254.8% to Rp1.371 trillion in FY17 against Rp386.4 billion in FY16. Also worth to appreciate that gross margin saw an improvement, rising to 1.8% in FY17, from 1.4% in FY16. Meanwhile, operating expense ratio (as a percentage to revenues) increased from 0.4% in FY16 to 1.2% in FY17. However, this managed to be neutralized by the jump in other income, from Rp60.1 million in FY16 to Rp2.1 billion in FY17.
Assets jumped 37 folds YoY; net cash grew 70 folds YoY after IPO proceeds
Total assets in FY17 rose to Rp568.4 billion, from Rp15.4 billion in FY16, mainly driven by inventories and cash & near cash (including cash & cash equivalents and restricted deposits), which recorded spikes to Rp235.8 billion and Rp188.0 billion in FY17, from Rp4.2 billion and Rp2.2 billion in FY16, respectively. Meanwhile, total liabilities increased from Rp9.8 billion in FY16 to Rp178.1 billion in FY17, mostly because the Company recorded trade payables of Rp87.6 billion, short-term bank loans of Rp36.4 billion and advances from customers of Rp33.1 billion in FY17 (vs none in FY16). On the equity side, net proceeds from new shares issuance (including IPO in November 2017) amounting to Rp356.5 billion and comprehensive income of Rp2.8 billion during the year of 2017 have resulted total equity to record an increase, from Rp5.6 billion in FY16 to Rp390.3 billion in FY17.
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