MPMX Reports Net Profit of Rp173 Billion in Q1, Up 8%

Jakarta (ANTARA) - Automotive consumer company and transport services provider PT Mitra Pinasthika Mustika Tbk (MPMX) reported its first-quarter 2026 financial results, achieving a net profit of Rp173 billion, representing an 8% year-on-year (YoY) growth.

The Honda motorcycle and spare parts distributor also recorded a 3% YoY increase in gross profit to Rp365 billion. However, the company noted net revenue of Rp4 trillion, down 4%, reflecting adjustments in several business lines.

“Challenges from the economic slowdown are still felt in the automotive sector up to the first quarter of this year,” said MPMX Group CFO Beatrice Kartika in a written statement on Thursday (30/4).

“Nevertheless, the Company’s focus on maintaining a balance between growth and quality has driven operational efficiency, strengthened profitability, and implemented discipline in risk management, particularly in the financing segment. We are optimistic that MPMX can continue to maintain sustainable performance resilience,” Beatrice stated.

By segment, MPMX’s performance showed diverse dynamics with an emphasis on strengthening revenue quality and efficiency.

In the two-wheeler vehicle distribution and retail business segment, MPMulia recorded varied operational performance, with a decline in motorcycle sales in the distribution business, offset by growth in retail business and stability in after-sales revenue.

The distribution business recorded a 5% YoY decline in motorcycle sales revenue, while after-sales revenue increased by 4%. In the retail business, sales revenue rose 3% YoY, although after-sales revenue experienced a slight 2% decline.

As a result, net revenue for this segment fell 3% YoY to Rp3.797 billion. However, gross profit increased 2% to Rp321 billion, with an improved margin of 8.5% from 8%.

In the vehicle rental segment, MPMRent recorded more moderate operational activity with revenue down 4% YoY to Rp368 billion. Nevertheless, gross profit rose 9% YoY to Rp83 billion, with a significantly improved gross profit margin of 22.6% from 19.9% in the same period last year.

This improvement was driven by a reduction in cost of goods sold, increased profitability in the vehicle rental business, and stronger contributions from used car sales.

For the financing business segment, JACCS MPMFinance Indonesia recorded a 43% YoY revenue decline, in line with the company’s more selective strategy focused on asset quality.

This was followed by a 40% YoY reduction in operating expenses to Rp160 billion, as well as lower provision expenses and asset-related costs, resulting in net loss being contained to 23% YoY lower at Rp38 billion.