Palm Oil Issuer's (MKTR) AGMS Determines Dividend of Rp 18.2 Billion

The Annual General Meeting of Shareholders (AGMS) of PT Menthobi Karyatama Raya Tbk (MKTR) approved the distribution of a cash dividend totaling IDR 18.21 billion, representing 35% of the company’s net profit for the 2024 fiscal year, which amounted to IDR 52.37 billion.

MKTR Finance Director Wawan Sulistyawan stated that the company’s performance in 2024 grew thanks to increases in both the price and production volume of Crude Palm Oil (CPO) and Palm Kernel (PK).

“CPO prices rose by 18.3%, and PK prices by 24.3%. Meanwhile, production volumes increased by 21% and 33.8%, respectively,” he said in an official statement on Thursday (May 1, 2025).

The improved performance of the palm oil issuer was also supported by the full operation of the palm oil mill owned by its subsidiary, PT Khatulistiwa Sinergi Omnidaya (KSO), which was acquired at the end of 2023.

As a result, MKTR recorded revenue of IDR 1 trillion in 2024, up 41.6% from IDR 710.98 billion in 2023. Operating profit rose significantly by 70% to IDR 106.39 billion from IDR 62.68 billion the previous year.

Meanwhile, net profit attributable to the owners of the parent entity edged up 1.7% to IDR 52.37 billion. MKTR also began diversifying its business through a renewable energy project by developing a Biomass EFB (Empty Fruit Bunch) Pellet production facility using palm oil empty fruit bunches (EFB) as feedstock.

The company is currently in the early stages of completing the main production facility, which is scheduled to begin operations by the end of 2025. This follows the establishment of a mini plant with a daily capacity of 2 tons in 2024.

“MKTR’s Biomass EFB Pellets are of high quality, with high calorific value and low potassium and chlorine content, making them safe for use as fuel in coal-fired power plants (PLTU),” Wawan added.

This product is expected to support the biomass co-firing program at 52 PLN-owned PLTUs starting in 2025. Entering 2025, the MKTR-coded issuer posted a strong performance in the first quarter.

Net profit attributable to the parent entity increased by 32.28% year-on-year (YoY) to IDR 6.2 billion, from IDR 4.7 billion in the same period last year. Revenue also grew by 8% YoY to IDR 267.6 billion, up from IDR 247.6 billion previously.

“Revenue has increased at a healthy pace from a financial performance perspective. We are optimistic that in 2025 we can grow even stronger by optimizing all of our assets,” said Wawan.

Revenue contributions came from CPO sales amounting to IDR 228.1 billion, palm kernel oil at IDR 37.4 billion, and palm kernel expeller at IDR 1.5 billion. On the other hand, the cost of revenue rose by 8.3% YoY to IDR 232.8 billion. MKTR’s gross profit increased by 6.2% to IDR 34.8 billion.

From a balance sheet perspective, total assets as of Q1 2025 reached IDR 1.53 trillion, up from IDR 1.51 trillion at the end of 2024. Total equity rose to IDR 635.5 billion, while total liabilities increased to IDR 897.9 billion.

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