• HRTA recorded a revenue growth of 53.84% YoY, reaching Rp2.12 trillion in the first quarter of 2023. 
• Net profit increased by 37.80% YoY, totaling Rp69.84 billion.

Bandung, May 2, 2023 - PT Hartadinata Abadi Tbk (HRTA) achieved significant growth in the first quarter of 2023. HRTA reported a revenue of Rp2.12 trillion in Q1 - 2023, a 53.84% YoY increase from Rp1.37 trillion in Q1 - 2022. This growth was supported by a 39.82% YoY increase in pure gold sales volume to 2.16 tons in Q1 - 2023 from 1.55 tons in Q1 - 2022. The average selling price (ASP) grew by 10.68% YoY to Rp970,295 in Q1 - 2023 from Rp876,675 in Q1 - 2022. Net profit also grew by 37.80% YoY to Rp69.84 billion in Q1 - 2023, with an NPM at the 3.30% level. Wholesale sales increased to 92.54%, including export sales, followed by retail sales (6.60%) and pawn business (0.72%). Meanwhile, ROA and ROE were at 6.60% and 15.59%, respectively, and DER was at a level of 1.36x in Q1 - 2023.

Continuous innovation has been a key factor in HRTA's performance growth, including the launch of the latest product, EMASKU. EMASKU with Secure Certificate is a 99.99% pure gold bar accompanied by a security certificate and is available in weights of 250 grams, 500 grams, and 1 kilogram. Additionally, HRTA continues to facilitate gold transactions for the public through the EmasKITA application, available on the Play Store and App Store. HRTA has partnered with JNE, one of Indonesia's largest cargo expedition companies, to provide delivery services and pickup buyback for customers who wish to buy or sell gold. This is expected to enhance customer convenience and provide a competitive advantage for the company.

In March 2023, HRTA entered the export market through a collaboration with Kundan Care Product LTD (Kundan) to export gold jewelry to India. Kundan is India's largest manufacturer, refinery, and exporter of gold, silver, and energy products. HRTA is expected to achieve additional sales of 400kg – 500kg of gold per month from the export of 91.6% pure gold jewelry to Kundan starting in March 2023. The commercial value of gold jewelry export transactions is estimated to contribute between USD 25 million and USD 31 million per month to the company's consolidated revenue. "The potential demand in the export market is also high and will be a growth driver for the company in the future," said Sandra Sunanto, CEO of HRTA.

Sandra believes that the momentum of achieving an all-time highest performance in Q1 - 2023 will continue throughout the year. HRTA's performance in the future will be supported by incentives from the government, including income tax exemptions for gold bar products and a reduction in value-added tax for gold jewelry for end consumers. The tax on gold bar products has been reduced from 0.45% for those with a Taxpayer Identification Number (NPWP) to 0%, and the tax on gold jewelry has been reduced from 2.1% to 1.65%. "We greatly appreciate the government's support, which will drive the development of the gold and jewelry industry. We see this as a catalyst, considering that Indonesia still has the potential for increased per capita gold consumption, which in 2022 was only at 0.18 grams compared to the Asia-Pacific average of 0.82 grams."

About PT Hartadinata Abadi Tbk (HRTA)
As a manufacturer and provider of gold jewelry that has built trust with all stakeholders for more than 34 years, HRTA is a major player in the Indonesian gold jewelry industry. HRTA has an integrated business model, including 4 factories (manufacturing), a precious metal refining plant (refinery), wholesale sales (wholesaler), retail sales (retail), e-commerce channels, and the Emaskita.id application and gold pawn network.

This integrated business model provides the advantage of a guaranteed market. Since its establishment, HRTA has established relationships with more than 900 gold shops across Indonesia. For more information, visit www.hartadinata.co.id or the official Instagram @hartadinata.abadi.

For further information, please contact: 
Ong Deny 
Corporate Secretary 
PT Hartadinata Abadi Tbk 
Phone: (022) 5402326 / 5403002 
Email: [email protected] / [email protected]
www.hartadinataabadi.co.id

•  

  Open Gold Bar Packaging, Who's Afraid! First in Indonesia, EmasKITA Equipped with BullionProtect® Technology to Prevent Counterfeiting Risks

  05 Sep 2023
•  

  Attracting New Market Potential, Hartadinata Abadi Store Outlet Launched

  05 Sep 2023
•  

  PT Hartadinata Abadi Tbk Receives Sharia Compliance Recommendation from the Indonesian Ulema Council (MUI) for All EMASKU® Products

  04 Oct 2024