JAKARTA — Distribution company PT Prima Multi Usaha Indonesia Tbk. (PMUI) is charting a path for growth, targeting a 10% revenue increase in 2026. This optimistic outlook remains firm even as the company navigates the divestment of its stake in PT Graha Prima Mentari Tbk. (GRPM).
Management is confident in its 2026 trajectory, projecting sales growth of approximately 10% and forecasting that net profit will return to the Rp40 billion mark following consolidation. PMUI President Director Agus Susanto noted that GRPM’s current contribution to the company is minimal, ensuring that the planned divestment will not disrupt day-to-day operations or overall financial health.
“GRPM’s contribution is not significant, so I do not foresee any negative impact on our performance,” Agus stated during the Public Expose on Monday (May 11, 2026).
On February 12, 2026, PMUI signed a non-binding term sheet regarding the acquisition of GRPM shares by PT Tunas Binatama Lestari, an affiliate of the Rimau Group. Under the agreement, PMUI plans to offload 70.67% of its ownership in GRPM. According to Agus, this move is a strategic step toward business diversification, with the company currently evaluating an entry into the hospitality sector through a new subsidiary.
“We have established a hotel subsidiary, and we are currently in the process of conducting studies and developing a business strategy,” he added. This pivot serves to strengthen the company’s position amidst the volatile distribution industry, while PMUI simultaneously focuses on its core business: telecommunications distribution.
As a key distributor for XLSMART Telecom Sejahtera Tbk. (EXCL)—the joint entity formed by XL Axiata and Smartfren—PMUI expects the ongoing merger of the telecom giants to generate positive momentum. “We remain focused on maintaining the growth of our telecommunications distribution. We believe the XLSmart consolidation will be beneficial for the company,” said Agus. To further boost revenue, the firm plans to expand its distribution network in previously untapped regions, adding to its 93 operational areas spanning from Aceh to Central Sulawesi.
The financial health of the company reflects this strategic focus. In the first quarter of 2026, PMUI recorded revenue of Rp1.18 trillion, a 23.11% increase compared to the Rp963.03 billion posted in the same period last year. Net profit saw a significant surge of 80.70%, reaching Rp9.55 billion compared to Rp5.28 billion in Q1 2025.
A breakdown of Q1 2026 revenue shows telecommunications products leading at Rp836.62 billion, followed by care products (Rp118.14 billion), food and beverages (Rp180.77 billion), and services and commissions (Rp50.08 billion). These figures follow a steady 2025 performance, where PMUI recorded total revenue of Rp3.83 trillion and a net profit of Rp38.9 billion.
Summary
PT Prima Multi Usaha Indonesia Tbk. (PMUI) is targeting a 10% revenue increase for 2026, supported by strong performance in its core telecommunications distribution business. Management confirmed that the planned divestment of its 70.67% stake in PT Graha Prima Mentari Tbk. (GRPM) will not negatively impact operations, as the subsidiary’s current contribution remains minimal. The company plans to use this transition to strategically pivot toward the hospitality sector while expanding its existing distribution network.
Financial results for the first quarter of 2026 demonstrate the company’s solid momentum, with revenue rising to Rp1.18 trillion and net profit surging by 80.70%. This growth is primarily driven by strong telecommunications product sales and a diversified portfolio that includes care products and food and beverages. Moving forward, PMUI expects the consolidation of XLSMART Telecom Sejahtera to provide further benefits for its core distribution operations across its 93 service areas.
