Dyandra Media's Revenue Soars in the First Half of 2023 Due to a Flood of Events

PT Dyandra Media International Tbk (DYAN) and its subsidiaries recorded a net revenue of Rp576 billion in the first half of 2023.

This figure represents a 49.66% increase year-on-year (YoY) compared to the Rp384.86 billion earned in the first half of the previous year.

The company, which operates in the Meetings, Incentives, Conventions, and Exhibitions (MICE) industry, derives its revenue from four segments.

Firstly, event organizing services. This segment contributed the most to DYAN's revenue, amounting to Rp473.69 billion, or 82% of their total net revenue.

Revenue from the event organizing services segment also surged by 58.73% (YoY), compared to Rp298.42 billion in the first half of last year.

Secondly, the convention and exhibition services segment generated Rp59.51 billion in revenue. This segment's performance, however, decreased by 1.47% from Rp63.6 billion in the first half of 2022.

Thirdly, the hotel segment contributed Rp22.70 billion in revenue, and fourthly, the event support segment contributed Rp20.09 billion.

In a press release, Mirna Gozal, Corporate Secretary of Dyandra Media International, stated that as of the first half of 2023, the company's revenue and profit targets are still in line with projections.

The company, with the stock code DYAN, also has several flagship events scheduled for the second half of 2023, which are expected to boost revenue in the following semester.

One of these is the SM Town music concert at the Gelora Bung Karno Main Stadium in Jakarta, scheduled for September 23, 2023. DYAN is also a co-promoter for the 15th round of MotoGP in Mandalika and is organizing a series of other events throughout the remainder of the year.