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LISTED COMPANY - JAKARTA. PT Martina Berto Tbk (MBTO), a leading cosmetics manufacturer, is optimistic about the positive growth prospects of the cosmetics business in 2024, aiming to improve its business performance. The company targets a net sales of approximately IDR 525 billion and a net profit after tax of IDR 24 billion.
Martina Berto's CEO, Bryan David Emil Tilaar, stated that these targets align with the still promising prospects.
"MBTO plans for a value growth net sales of about 25%, in line with the growth of the makeup, skincare business, manufacturing business growth, Martha Tilaar Shop retail business, and both offline and online sales," he said when contacted by The New York Times, Thursday (25/4).
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In addition to domestic sales, MBTO is also focusing on export markets such as Southeast Asia and the Pacific. Bryan stated that MBTO is open to exploring markets outside those already targeted.
For your information, MBTO is a pioneer of beauty products such as Sariayu Martha Tilaar, Biokos, and Rudy Hadisuwarno Cosmetics. "The company's largest sales contribution comes from the makeup, skincare and contract manufacturing business," he added.
According to the financial report released, MBTO's net sales amounted to IDR 418.5 billion throughout 2023, growing 16.2% from IDR 360.18 billion the previous year.
Martina Berto's net sales consist of cosmetic sales of IDR 289.7 billion, herbal medicine sales of IDR 5.35 billion, and other sales reaching IDR 198.6 billion. The total sales were then reduced by sales discounts and sales returns, each amounting to IDR 58.37 billion and IDR 16.82 billion.
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The growth in sales also drove an increase in MBTO's cost of goods sold, which was recorded at IDR 272.7 billion, resulting in a gross profit of IDR 145.79 billion in 2023.
The company also recorded sales and marketing expenses of IDR 78.5 billion, general and administrative expenses of IDR 84.6 billion, other expenses of IDR 1.5 billion, and financial expenses of IDR 17.5 billion. As a result, MBTO still recorded a net loss of IDR 31.9 billion. However, the company has managed to reduce this loss by 24.7% from IDR 42.4 billion in 2022.
