Investment Information Team

Stock On Radar
(Jan 14, 2019)

MNCN IDR 805 (+5.92%)

Company Description

PT. Media Nusantara Citra Tbk (MNCN) is an integrated media company in Indonesia. The company has a
core business in content and ownership and operation of 3 of the 10 national Free-To-Air televisions in
Indonesia. MNCN has 3 Free-To-Air (FTA) TVs - RCTI, MNCTV and GlobalTV - as well as 18 channels created
and produced by MNC which are broadcast on Pay TV. At present, MNC also has other media-based
businesses that support MNC's core business. The business consists of radio, print media, talent
management, and production houses. MNC was established on June 17, 1997. The company began
commercial operations in December 2001.

PT. Media Nusantara Citra Tbk (MNCN) adalah perusahaan media terpadu di Indonesia. Perusahaan ini
memiliki bisnis inti dalam konten dan kepemilikan dan pengoperasian 3 dari 10 televisi Free-To-Air
nasional di Indonesia. MNCN memiliki 3 TV Free-To-Air (FTA) - RCTI, MNCTV dan GlobalTV - serta 18
saluran yang dibuat dan diproduksi oleh MNC yang disiarkan di TV-berbayar. Saat ini, MNC juga memiliki
bisnis berbasis media lainnya yang mendukung bisnis inti MNC. Bisnis tersebut terdiri dari radio, media
cetak, manajemen talenta, dan rumah produksi. MNC didirikan pada tanggal 17 Juni 1997. Perusahaan
mulai beroperasi secara komersial pada bulan Desember 2001.

Financial Summary

Income 1st Quarter 2018 2nd Quarter 2018 3rd Quarter 2018 3rd Quarter
Statement Growth (YoY)
Total Sales 1.602.361.000.000 3.689.544.000.000 5.530.036.000.000 2.8%
Gross Profit 938.922.000.000 2.199.699.000.000 3.281.205.000.000 1.1%
EBIT 527.818.000.000 994.686.000.000 1.413.160.000.000 -23%
Net Income 274.045.000.000 636.475.000.000 989.073.000.000 -11.8%
PER* 8.9x
PBV 1.2x

Key earning driver:

Audience Share

Related News:
In Desember MNCN booked the highest all time audience share (32.3%)

Transaction activity:
The transaction volume is currently 95% from yesterday, with a transaction value of IDR 57.3bn.
Foreign net sell IDR 4.9bn.

Mirae Asset Related report:

https://bit.ly/2spdfyQ
Mirae Asset Recommendation:
Hold Tp IDR 820

Broker recommendation:
2019/01/07 Mandiri Sekuritas PT BUY TP 1520
2019/01/07 Nomura Neutral TP 1250
2019/01/03 PT Sinarmas Sekuritas Neutral TP 920