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

Dharma Satya Nusantara / Equity Bottom-Up

<ul><li>DSNG delivered a stellar performance in 1H25, with net profit surging +81.9% YoY to IDR915.8 bn (vs IDR503.6 bn in 1H24), in-line with both our/consensus expectations— achieving 48.0%/51.0% of FY25E targets.</li><li>Core profit rose +65.3% YoY to IDR919 bn (vs IDR556 bn in 1H24). 2Q25 net profit stood at IDR547.6 bn (+48.7% QoQ/+97.3% YoY).</li><li>Moreover, 1H25 NPM improved to 15.1% (vs 10.7% in 1H24). This robust bottom-line performance was supported by revenue growth, ongoing operational recovery, and manageable input costs.</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>

DSNG delivered a stellar performance in 1H25, with net profit surging +81.9% YoY to IDR915.8 bn (vs IDR503.6 bn in 1H24), in-line with both our/consensus expectations— achieving 48.0%/51.0% of FY25E targets.Core profit rose +65.3% YoY to IDR919 bn (vs IDR556 bn in 1H24). 2Q25 net profit stood at IDR547.6 bn (+48.7% QoQ/+97.3% YoY).Moreover, 1H25 NPM improved to 15.1% (vs 10.7% in 1H24). This robust bottom-line performance was supported by revenue growth, ongoing operational recovery, and manageable input costs.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.

PT Dharma Satya Nusantara Tbk (DSNG IJ) - Recovery Momentum Lifts 1H25 Performance