Menu
SWOT Analysis of The Results (Below Ours and Cons.)
Strength
3Q24 bottom-line growth was driven by declined OpEx to IDR 425.7bn (-13.0% QoQ, +0.7% YoY), alongside improved TV revenue (69% of sales) of IDR 1,255bn (+14.0% QoQ, -9.4% YoY) and EBIT of IDR 199.9bn (+49% QoQ, -0.48% YoY)
Weakness
SCMA’s OTT (Over-The-Top) business-line (Vidio.com) posted 3Q24 net loss of IDR 154.8bn, mainly due to overbidding; GPM slipped -50 bps QoQ, attributed to higher program and amortization costs of IDR 1.1tn (+17.1% QoQ, -2.0% YoY)
Opportunity
SCMA’s new studios facilities are expected to bolster its content production capabilities, potentially attracting more ads; recent market underperformance may provide buying opportunities for investors
Threat
Stringent fiscal policy, elevated interest rate levels, and IDR depreciation, which all exert pressure on FMCG advertising budgets, combined with reduced consumer spending on subscription, are likely to weigh on earnings growth
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
