New Risk • Jun 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp178.5b (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-Rp18b free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (Rp178.5b market cap, or US$9.99m). Board Change • May 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. 1 independent director (3 non-independent directors). Technical Director & Independent Director Rumpoko Adi was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • May 14
PT Citatah Tbk, Annual General Meeting, Jun 19, 2026 PT Citatah Tbk, Annual General Meeting, Jun 19, 2026. New Risk • Apr 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-Rp14b free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Market cap is less than US$10m (Rp102.2b market cap, or US$5.93m). Reported Earnings • Apr 03
Full year 2025 earnings released: Rp18.97 loss per share (vs Rp15.91 loss in FY 2024) Full year 2025 results: Rp18.97 loss per share (further deteriorated from Rp15.91 loss in FY 2024). Revenue: Rp116.8b (down 20% from FY 2024). Net loss: Rp23.4b (loss widened 19% from FY 2024). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. New Risk • Dec 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-Rp3.0b free cash flow). Market cap is less than US$10m (Rp147.7b market cap, or US$8.86m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Reported Earnings • Nov 04
Third quarter 2025 earnings released: Rp0.44 loss per share (vs Rp3.60 profit in 3Q 2024) Third quarter 2025 results: Rp0.44 loss per share (down from Rp3.60 profit in 3Q 2024). Revenue: Rp31.1b (down 23% from 3Q 2024). Net loss: Rp538.7m (down 112% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. 1 independent director (3 non-independent directors). Technical Director & Independent Director Rumpoko Adi was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • May 21
PT Citatah Tbk, Annual General Meeting, Jun 26, 2025 PT Citatah Tbk, Annual General Meeting, Jun 26, 2025. Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: Rp40.5b (up 32% from 3Q 2023). Net income: Rp4.43b (up 176% from 3Q 2023). Profit margin: 11% (up from 5.2% in 3Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Aug 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Rp32.1b (up 140% from 2Q 2023). Net loss: Rp4.52b (loss widened Rp4.24b from 2Q 2023). 공시 • May 09
PT Citatah Tbk, Annual General Meeting, Jun 14, 2024 PT Citatah Tbk, Annual General Meeting, Jun 14, 2024. Reported Earnings • May 05
Full year 2023 earnings released: Rp7.98 loss per share (vs Rp26.95 loss in FY 2022) Full year 2023 results: Rp7.98 loss per share (improved from Rp26.95 loss in FY 2022). Revenue: Rp99.2b (down 14% from FY 2022). Net loss: Rp9.82b (loss narrowed 70% from FY 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Buying Opportunity • Dec 01
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be Rp54.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 14%. Reported Earnings • Nov 04
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: Rp30.7b (down 1.8% from 3Q 2022). Net income: Rp1.61b (up Rp4.51b from 3Q 2022). Profit margin: 5.2% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: Rp13.3b (down 57% from 2Q 2022). Net loss: Rp280.8m (loss narrowed 95% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Apr 18
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Rumpoko Adi was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: Revenue: Rp115.1b (up 23% from FY 2021). Net loss: Rp33.2b (loss widened 51% from FY 2021). Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Rumpoko Adi was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 29
Second quarter 2022 earnings released: Rp4.40 loss per share (vs Rp10.53 loss in 2Q 2021) Second quarter 2022 results: Rp4.40 loss per share (up from Rp10.53 loss in 2Q 2021). Revenue: Rp31.1b (up 48% from 2Q 2021). Net loss: Rp5.42b (loss narrowed 58% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 09
First quarter 2022 earnings released: Rp1.83 loss per share (vs Rp7.27 loss in 1Q 2021) First quarter 2022 results: Rp1.83 loss per share (up from Rp7.27 loss in 1Q 2021). Revenue: Rp23.8b (down 3.5% from 1Q 2021). Net loss: Rp2.25b (loss narrowed 75% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 24% per year. Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Commissioner Eddy Gunawan was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jun 25
First quarter 2021 earnings released The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: Rp24.7b (up 30% from 1Q 2020). Net loss: Rp8.95b (loss narrowed 56% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 09
New 90-day high: Rp58.00 The company is up 16% from its price of Rp50.00 on 10 September 2020. The Indonesian market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 28% over the same period. Reported Earnings • Dec 04
Third quarter 2020 earnings released: Rp6.00 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: Rp34.0b (up 31% from 3Q 2019). Net loss: Rp7.38b (loss narrowed 33% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 120% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 08
New 90-day high: Rp56.00 The company is up 12% from its price of Rp50.00 on 09 July 2020. The Indonesian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 4.0% over the same period.