JAKARTA - PT M Cash Integrasi Tbk (MCAS) or MCASH, a digital infrastructure and ecosystem solution provider, is said to have budgeted IDR 84 billion for its capital expenditure (capex) in 2024.

This information was disclosed by Mohammad Arif, Director of MCASH, during the Incidental Public Expose held online today (17/4). According to him, this year, MCASH will focus on expanding its business, particularly in electric vehicle (EV) ecosystem and digital advertising segments.

According to Arif, clean energy segment, including sales, services, and ecosystem of EV under the brand Volta owned by MCASH, indeed holds a great potential. The contribution of this segment towards total sales grew rapidly by up to 157.5% year-on-year (yoy) to IDR 148.2 billion at the end of 2023.

Until the end of December 2024, Volta electric motorcycle sales hit 11.4 thousand units, whereas the total population reached 16 thousand units. “For 2024, we project twofold growth of Volta population to 34 thousand units,” claimed Arif.

Ideally, this population increase should be entailed by product sales. During Media Gathering of MCASH last February, the directors were seen eyeing a moderate target of Volta sales of 18 thousand units this year. “The sky-blue scenario is 30 thousand units,” added the management.

Despite the ever-weakening rupiah, MCASH still expects to be able to boost its performance through this segment. “Hopefully, the subsidy of IDR 7 million per unit can continue to take place as ordered by the government,” continued Arif. The company also plans to add more dealers and after-sales points of Volta in order to raise public’s interest in purchasing electric motorcycles.

“Our dealers have now reached 100-150 points. If the population growth is targeted to double, the dealers must follow,” added Arif.

In addition to clean energy segment, MCASH is also preparing cloud advertising as another growth engine in 2024. Revenue growth of this segment reached 41.6% yoy, from IDR 150.2 billion to IDR 212.7 billion in 2023.

However, actually, both at the top line and bottom line, MCASH saw decline in its performance in 2023. The revenue slipped 5% yoy down to IDR 11.7 trillion, while the net profit dropped significantly as far as 96% yoy to only IDR 1 billion from IDR 25 billion in 2022.

This sharp downturn occurred possibly due to swelled costs and expenses. “For 2024 strategy, we will implement efficiency strategies on unnecessary costs,” Arif concluded. (ZH)