Malindo (MAIN) Hadapi Tekanan Biaya Bahan Baku, Sahamnya Hold Dulu?

Pabrik PT Malindo Feedmill Tbk. Foto: Perseroan.

Nabil Al Faruq (nabil.alfaruq@beritasatumedia.com)

JAKARTA, investor.id – Emiten peternakan dan penjualan pakan ternak, PT Malindo Feedmill Tbk (MAIN) akan menghadapi tekanan biaya bahan baku pada tahun ini, meski perusahaan diyakini tetap bisa mempertahankan kinerja positif. Pada 2021, MAIN berhasil membukukan laba bersih hingga Rp 60 miliar.

BRI Danareksa Sekuritas merekomendasikan hold untuk saham Malindo dengan target harga Rp 650. Saat ini, saham MAIN sudah mencapai target harga Rp 650 tersebut.

Adapun perolehan laba bersih sepanjang 2021 terbilang di luar ekspektasi dan konsensus analis. Sedangkan pendapatan perseroan pada 2021 mencapai Rp 9,13 triliun, naik 30,42% dari tahun sebelumnya Rp 7 triliun.

Seiring dengan pencapaian tersebut, BRI Danareksa Sekuritas memprediksi laba bersih Malindo tahun ini mencapai Rp 80 miliar dan pendapatan diproyeksikan menembus Rp 10 triliun.

“Kemudian, laba bersih dan pendapatan 2023 masing-masing diperkirakan sebesar Rp 197 miliar dan Rp 12,18 triliun,” tulis analis BRI Danareksa Sekuritas Victor Stefano dalam risetnya.

Lebih lanjut, EBITDA MAIN pada 2021 sebesar Rp 354 miliar, turun 24% dibandingkan tahun sebelumnya Rp 464 miliar. “Untuk 2022, EBITDA perseroan diperkirakan naik 9% menjadi Rp 385 miliar. Kami memprediksi margin secara keseluruhan akan tetap di bawah tekanan tahun ini, seiring dengan biaya bahan baku yang tinggi,” jelas Victor.

Menurut dia, pencapaian 2021 didukung oleh kenaikan bisnis makanan olahan perseroan pada kuartal IV-2021, sehingga MAIN mencatatkan margin EBIT yang positif, meskipun volume penjualan perseroan mengalami penurunan, karena pada periode tersebut MAIN fokus di segmen pelanggan dengan level yang lebih tinggi.

“Perseroan juga fokus untuk menghasilkan laba pada periode tersebut. Kami menilai, apabila ini terus dilanjutkan dapat mengurangi tekanan pada margin laba perseroan di tahun ini,” jelas dia.

Editor : Jauhari Mahardhika (jauhari@investor.co.id)

Sumber : Investor Daily

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