Performance Review of KOPI 2023-Q1

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Performance Review of KOPI 2023-Q1

PT Mitra Energi Persada Tbk (IDX: KOPI) is a company engaged in trading, industry, and services. The company's main business activities include acting as a holding company, wholesale trading of machinery, equipment, and other supplies, wholesale trading of solid, liquid, and gas fuels and related products, operation of power supply installations, and electrical installations.

The supporting business activities of the company are as follows:

  1. Supporting activities in the oil and natural gas mining industry.
  2. Wholesale trade of fees or contracts.
  3. Trading of synthetic natural gas.
  4. Distribution of natural and synthetic gas.
  5. Pipeline transportation.

What I learned from the Financial Report :
  1. PBV KOPI = 2.53x
  2. DER = 194%
  3. NPM = 2.18%
  4. Operating cash flow recorded Rp 3,130,455,765. 
  5. Current Assets = Rp 88,564,277,151
  6. Current Liabilities = Rp 59,639,274,414

Having subsidiaries.
  1. PT Mitra Energi Buana ("MEB") engages in gas trading activities through dedicated downstream pipelines to the delivery point at consumer locations in South Sumatra, operating status.
  2. PT Mitra Pembangkit Persada ("MPP") engages in trading, construction, industry, workshops, printing, land transportation, and services, non-operating status. Established since July 2, 2018.
  3. PT Pembangkit Mitra Matrik ("PMM") engages in trading and power generation activities, non-operating status. Established since July 24, 2018.

Profitability ratios of the company are as follows:
  1. Gross Profit Margin (GPM) = 28.4%
  2. Operating Profit Margin (OPM) = 8.4%
  3. Net Profit Margin (NPM) = 2.2%

Trade receivables are all in the current section, none exceeding 1-2 years, even more than 2 years.

Sales are in US dollars.

Other receivables include employee loans to the company that were not settled as of March 31, 2023, amounting to 40.9 billion rupiah. The company has a provision for impairment loss of 40.9 billion.

Revenue amounted to 52.1 billion with 5 customers.

Cost of goods sold from PT Medco E&P Indonesia amounted to 35.8 billion. Transportation costs were 1.5 billion. The supplier is only from one company.

The company has never distributed dividends.

The writer is not interested in PT Mitra Energi Persada Tbk (IDX: KOPI).

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