Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Multi Bintang (MLBI IJ): Massive Inflection in Q3 FY24 with Double Digit Growth !!

Multi Bintang Indonesia (MLBI IJ): Slow Start to Q1 FY25

Multi Bintang Indonesia (MLBI IJ): Anticipating Strong Q4 FY24, 80% ROCE, and >9% Dividend Yield

Multi Bintang Indonesia (MLBI IJ): Steady FY24, 9% Yield and >80% ROCE

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

Multi Bintang Indonesia / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/multi-bintang-indonesia-pt" target="_blank" data-smartkarma-citation="entities:11651:1" rel="noopener">Multi Bintang Indonesia (MLBI IJ)</a> reported Q3FY25 YoY revenue/profit declines of 4.3%/5.8%. 9MFY25 revenues/profits were +2%/-5% YoY, due to a slight decrease in margins. </li>
<li>After a strong recovery in demand of 10% YoY in Q2, demand in Q3 was subdued at -4.3% YoY despite more substantial tourism numbers (10% YoY in Q3FY25, 12% Ytd)</li>
<li>The stock trades at 10.7x FY25 PE, offers a 9.4% dividend yield, is net cash, and has a substantial ROCE of &gt;70%. </li>
</ul>



Multi Bintang Indonesia (MLBI IJ) reported Q3FY25 YoY revenue/profit declines of 4.3%/5.8%. 9MFY25 revenues/profits were +2%/-5% YoY, due to a slight decrease in margins. 
After a strong recovery in demand of 10% YoY in Q2, demand in Q3 was subdued at -4.3% YoY despite more substantial tourism numbers (10% YoY in Q3FY25, 12% Ytd)
The stock trades at 10.7x FY25 PE, offers a 9.4% dividend yield, is net cash, and has a substantial ROCE of &gt;70%. 


Multi Bintang Indonesia (MLBI IJ) Q3 FY25: Resilient >9% Yield Intact, But No Inflection In Demand