External broker reports(aggregated public sources), MNC Sekuritas

MNC Sekuritas

MNC Sekuritas, the first wholly-owned subsidiary established by the Group back in 1989, provides a complete range of services, from equity, fixed income, investment banking to providing research to optimize clients’ investments. Thus far, the company has more than 140 points of sales with over 100,000 clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>MYOR booked revenue of IDR17.8 tn in 1H25 (+9.7% YoY vs IDR16.2 tn in 1H24), slightly below our/consensus FY25E estimates at 44.9%/44.9%.</li><li>Revenue was supported by local sales of IDR10.4 tn in 1H25 (+8.3% YoY) and export sales of IDR7.4 tn in 1H25 (+11.8% YoY).</li><li>The stronger export momentum reflects continued traction in Asia and other international markets.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MYOR booked revenue of IDR17.8 tn in 1H25 (+9.7% YoY vs IDR16.2 tn in 1H24), slightly below our/consensus FY25E estimates at 44.9%/44.9%.Revenue was supported by local sales of IDR10.4 tn in 1H25 (+8.3% YoY) and export sales of IDR7.4 tn in 1H25 (+11.8% YoY).The stronger export momentum reflects continued traction in Asia and other international markets.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

MYOR IJ - 1H25 Weak Performance; Limited 2H25 Recovery Ahead

Mayora Indah

MYOR IJ - 1H25 Weak Performance; Limited 2H25 Recovery Ahead