ITSEC Asia CEO Gradually Accumulates Shares Amidst Fluctuating Financial Performance
The President Director of PT ITSEC Asia Tbk (CYBR), Patrick Rudolf Dannacher, gradually accumulated company shares in mid-September 2026. According to information disclosure from the Indonesia Stock Exchange on Monday, 21 September 2026, these share purchases were intended for investment purposes with direct ownership status.
The series of share accumulations took place over three days, specifically on 14, 16, and 18 September 2026. On 14 September 2026, Patrick conducted five transactions. The first purchase included 30,400 units at Rp510 per share, followed by 150,300 units at Rp535, 120,500 units at Rp525, 71,800 units at Rp520, and 50,100 units at Rp515.
A day later, on 16 September 2026, Patrick further increased his holdings through three transactions, consisting of 69,800 units at Rp520, 100 units at Rp530, and 10,100 units at Rp525. The accumulation continued on 18 September 2026 with three transactions: 100 units at Rp530, 200,200 units at Rp520, and 3,300 units at Rp525.
These transactions increased Patrick Rudolf Dannacher’s total ownership in PT ITSEC Asia Tbk from 96,466,500 units (0.715% voting rights) to 97,173,200 units (0.72% voting rights). The disclosure also noted that Patrick serves as a controlling shareholder of CYBR.
Regarding the first-half 2026 performance, CYBR recorded a less favourable financial result, with net profit declining despite the company’s ability to curb cash flow losses operationally. Based on published financial reports, the profit attributable to owners of the parent entity was recorded at Rp33.96 billion, a 7.56% decrease compared to Rp36.74 billion in the same period last year. Earnings per share also fell to Rp5.06 from Rp5.60. This decline in net profit was directly linked to a contraction in revenue, as CYBR’s operating revenue dropped 12.70% to Rp201.16 billion from Rp230.44 billion in the first half of 2025.
Cost of sales increased to Rp129.57 billion from Rp110.36 billion, while gross profit fell to Rp71.59 billion from Rp120.07 billion. General and administrative expenses also rose to Rp78.99 billion. However, the company recorded a foreign exchange gain of Rp13.23 billion, reversing a loss of Rp2.73 billion in the first half of 2025, and benefited from a tax benefit of Rp28.92 billion.
On the balance sheet, CYBR’s total assets as of 30 June 2026 strengthened to Rp485.42 billion from Rp416.49 billion at the end of December 2025. Total liabilities increased to Rp173.00 billion, while total equity grew from Rp256.23 billion to Rp312.41 billion. Notably, CYBR managed to turn its operating cash flow positive at Rp13.40 billion, compared to a negative Rp11.98 billion in the first half of 2025.
As for stock movement, CYBR shares remained stagnant during trading on Monday, 21 September 2026, holding at the Rp520 level. Historically, the stock has been in a downward trend in the short to medium term, with a 7.14% correction over the past month and a 20% decline over the last three months. Year-to-date performance has plummeted by 42.22%. However, the three-year long-term performance remains highly significant, with the share price surging 484.27% from its low of Rp81 to a high of Rp985.