RAAM Turns Operationally Profitable in First Half of 2026, Positions Business for Sustainable Growth

Jakarta, 31 July 2026 - PT Tripar Multivision Plus Tbk (“RAAM” or the “Company”), one of Indonesia’s leading integrated entertainment companies, recorded a marked improvement in its underlying operating performance during the first half of 2026, supported by stronger theatrical releases, increased monetization of its content library, and continued progress in optimizing its capital structure.

RAAM recorded consolidated revenue of Rp128.6 billion in H1-2026, an increase of 14.7% from Rp112.1 billion in H1-2025. Gross profit nearly doubled to Rp52.6 billion, representing growth of 91.2% year-on-year, while gross profit margin expanded to 40.9% from 24.5% in the corresponding period. General and administrative expenses also declined by 15.6%, enabling the Company to record an operating profit of Rp6.3 billion, compared with an operating loss of Rp27.3 billion in H1-2025.

Based on operating profit before depreciation and amortization, RAAM generated estimated EBITDA of approximately Rp16.9 billion in H1-2026, a substantial recovery in its core business. The improvement became particularly visible during the second quarter, when revenue rose to approximately Rp80.4 billion and EBITDA reached approximately Rp22.2 billion, compared with an EBITDA loss in the first quarter.

The Company’s film business remained the principal growth driver. Film revenue increased by 30.4% year-on-year to Rp74.4 billion, supported by improved domestic and regional theatrical performance. Cerita Lila surpassed one million cinema admissions in Indonesia, while Sengkolo 2 exceeded the Company’s expectations in Malaysia and added international theatrical revenue. RAAM also generated Rp6.75 billion of revenue from television series during the period.

In addition to new releases, RAAM delivered stronger revenue from the monetization of its extensive content library. The result reflects increased utilization of the Company’s existing intellectual-property portfolio across television, digital platforms, licensing arrangements, and other distribution channels. Management expects library monetization to remain an increasingly important source of recurring, capital-efficient revenue.

“The first-half results demonstrate that RAAM’s underlying operating fundamentals are strengthening. Our improved theatrical performance, combined with higher monetization of our content library, drove a significant recovery in gross profit and EBITDA,” said Vikas Chand Sharma, Director and Chief Financial Officer of RAAM.

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“At the same time, we have taken decisive steps to improve the efficiency of our capital structure. By reducing borrowings and lowering recurring interest expenses, we are creating a stronger financial foundation from which to invest in content, expand our cinema footprint, and capture the long-term growth of Indonesia’s entertainment industry.”

During H1-2026, RAAM divested its shareholding in PT Ciputra Multivision Nusantara as part of the Company’s broader capital-allocation and deleveraging strategy. Proceeds from the transaction were used to reduce outstanding bank borrowings and are expected to lower annual interest expenses by approximately Rp11 billion.

As a result, RAAM’s net debt declined to approximately Rp304.4 billion as of June 2026, from Rp403.0 billion at the end of March 2026. The Company’s net debt-to-equity ratio correspondingly improved to 24.7%, from 31.3% at the end of the first quarter.

The divestment resulted in the recognition of a one-time, non-operating loss of approximately Rp64 billion. This accounting impact was recorded under other income and expenses, resulting in RAAM reporting a net loss of Rp64.8 billion for H1-2026. As the loss was non-recurring and arose from a transaction intended to strengthen the Company’s balance sheet, management believes it should be considered separately when assessing the performance and future earnings capacity of RAAM’s underlying operations.

Looking ahead, RAAM remains focused on converting its strengthened operating platform into sustainable earnings growth. The Company’s priorities for the remainder of 2026 include maintaining a disciplined release pipeline, expanding the commercial reach of its intellectual-property library, growing regional distribution opportunities, and improving the productivity of its cinema and food-and-beverage operations.

The Company expects the reduction in bank borrowings to provide a progressively more visible benefit in the form of lower financing costs. Together with improved gross margins and tighter cost management, this is expected to support stronger earnings conversion and cash-flow generation in subsequent periods.

RAAM will also continue to evaluate opportunities to expand its cinema network, particularly in underserved cities where screen penetration remains relatively low. The Company intends to pursue this expansion selectively, with investment decisions based on local demand, projected occupancy, and expected returns on capital.

Ram Jethmal Punjabi, President Director of RAAM, said:

“Indonesia’s appetite for locally produced content continues to deepen, and the performance of our recent releases reinforces our confidence in the long-term potential of the market. RAAM enters the second half of the year with stronger operating momentum, a more efficient balance sheet, and a clear strategy to develop valuable intellectual property across multiple distribution channels.”

“Our objective is to build franchises and library assets that generate value throughout their commercial life cycle, from cinemas and regional distribution to television, digital platforms, and future licensing opportunities.”

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