Menthobi Karyatama Reaches Rp1 Trillion Revenue in 2024

PT Menthobi Karyatama Raya Tbk (MKTR), a palm oil plantation company, recorded a 41.6% year-on-year (yoy) increase in revenue to IDR 1.00 trillion in 2024, compared to IDR 710.98 billion in 2023.

MKTR’s Finance Director, Wawan Sulistyawan, explained that the company’s revenue was mainly supported by significant increases in Crude Palm Oil (CPO) and Palm Kernel (PK) prices, which rose by 18.3% and 24.3%, respectively.

In addition, production volumes of CPO and PK also increased by 21% and 33.8%, respectively, in line with the full-year operations of the palm oil mill owned by MKTR’s subsidiary, PT Khatulistiwa Sinergi Omnidaya (KSO), which was acquired at the end of 2023, Wawan said during the Public Expose in Jakarta on Wednesday.

Following the revenue growth, MKTR reported a 70% yoy increase in operating profit from IDR 62.68 billion in 2023 to IDR 106.39 billion in 2024. Meanwhile, net profit for the year rose to IDR 52.2 billion in 2024, up 1.7% yoy from IDR 51.3 billion in 2023.

In line with this performance, the company approved a dividend distribution of IDR 18.21 billion, equivalent to 34.88% of the 2024 net profit.

MKTR Commissioner, Nadhif Kasyvilla, stated that the company continues to strengthen its commitment to best agricultural practices and sustainability principles by developing a Biomass EFB Pellet production facility.

This initiative involves the creation of an eco-friendly alternative fuel made from oil palm empty fruit bunches (EFB), as part of the company’s effort to realize a green industry and support the transition to clean energy in line with the Net Zero Emission (NZE) goal.

“The company is currently in the initial phase of constructing the new Biomass EFB Pellet production facility, which is scheduled for commissioning by the end of 2025,” said Nadhif. He added that this initiative follows the establishment of a mini-plant in 2024 with a production capacity of 2 tons per day.

From this limited production in 2024, the company has produced high-quality Biomass EFB Pellets with high calorific value and low potassium and chlorine content, making them suitable for industrial fuel needs, especially for steam power plants (PLTU).

“The processing of palm oil by-products, such as EFB into pellets, reflects MKTR’s consistency in pursuing innovation that positively contributes to the industry while supporting green energy development in Indonesia,” Nadhif said.

Beyond being a solution for the green industry, he added, this innovation also creates a new revenue stream for the company as part of its long-term and sustainable growth strategy. “We are optimistic that our ability to create added value through innovation and eco-friendly products will also positively enhance the company’s business performance,” he said.

Previously, the company successfully launched GreenGrow, an organic fertilizer brand under its subsidiary PT Menthobi Hijau Lestari (MHL). GreenGrow is a pioneer in granular organic fertilizers made from EFB, which is officially registered, licensed for distribution, and certified with the Domestic Component Level (TKDN) by the Ministry of Industry.

MKTR President Director, Harry M. Nadir, explained that the company also plans to optimize assets to drive business growth in 2025. One of the key initiatives includes the Kernel Crushing Plant (KCP), which is expected to be fully operational in 2025 following its inauguration in the second half of 2024.

He elaborated that the KCP facility will process palm kernel into higher-value palm kernel oil (PKO), with the production process running 24 hours a day and a target of producing 4,400 tons of CPKO in 2025.

“The company has outlined a series of integrated strategies to strengthen the core of its business in the short, medium, and long term. The key focus areas are asset optimization, product innovation, and sustainable agribusiness expansion, all aimed at ensuring consistent, competitive business growth,” Harry concluded.

Share :