Media & Information / Hartadinata Abadi's Net Profit Increases 30.70 Percent to IDR 253.52 Billion
News • 02 Sep 2023
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JAKARTA, KOMPAS.com - PT Hartadinata Abadi Tbk (HRTA) recorded a net profit for 2022 of IDR 253.52 billion, a 30.7 percent increase compared to net profit in 2021 of IDR 193.98 billion. This achievement was supported by revenue growth throughout 2022 of 32.08 percent to IDR 6.92 trillion compared to 2021 of IDR 5.24 trillion. "Revenue growth was supported by an increase in sales in pure gold by 26.83 percent YoY to 7.75 tons throughout 2022 from 6.11 tons in 2021," said HRTA Main Director, Sandra Sunanto in a press release Friday (31/3 /2023).
Apart from being supported by revenue, the average selling price/ASP (average selling price) also increased by 4.07% YoY to IDR 880,922 in 2022 from the previous IDR 846,493. Sales to wholesalers contributed 90.85 percent, followed by retail sales 7.82 percent and mortgage 1.07 percent. On the other hand, ROA and ROE grew to 6.59 percent and 14.72 percent respectively.
DER or Debt To Equity Ratio managed to decrease to 1.23x in 2022. Along with the increased contribution of EmasKITA and Kencana products, operating cash flow was positive at the end of 2022. Sandra added, performance growth was also the fruit of the successful management strategy for 2022 through innovations. One of which is the latest EmasKITA with the BullionProtect feature which is a pioneer of security innovations in gold bullion.
On the other hand, HRTA is also expanding its market network by expanding its own outlets to a total of 78 stores by 2022. HRTA is also continuing to complement the business supply chain at the midstream level by establishing a gold refinery subsidiary through PT Emas Murni Abadi. "HRTA strengthens its position as the most integrated gold jewelery and gold bullion company from the midstream to downstream industries in Indonesia," he continued.
The several collaborations that have been established with Indonesian financial institutions have contributed to the success of the Company. Collaboration with Bank Negara Indonesia (BNI) through a syndicated loan of IDR 2.4 trillion is also proof of the trust from major financial institutions in Indonesia in the company's growth prospects. "We continue to innovate in order to increase the Company's productivity both through developing innovative products and also expanding markets not only domestically but also internationally," said Sandra.
"In addition, we also believe that on a macro level, the HRTA business will continue to benefit from the potential increase in gold commodity prices amid the current global banking crisis," said Sandra.
Apart from being supported by revenue, the average selling price/ASP (average selling price) also increased by 4.07% YoY to IDR 880,922 in 2022 from the previous IDR 846,493. Sales to wholesalers contributed 90.85 percent, followed by retail sales 7.82 percent and mortgage 1.07 percent. On the other hand, ROA and ROE grew to 6.59 percent and 14.72 percent respectively.
DER or Debt To Equity Ratio managed to decrease to 1.23x in 2022. Along with the increased contribution of EmasKITA and Kencana products, operating cash flow was positive at the end of 2022. Sandra added, performance growth was also the fruit of the successful management strategy for 2022 through innovations. One of which is the latest EmasKITA with the BullionProtect feature which is a pioneer of security innovations in gold bullion.
On the other hand, HRTA is also expanding its market network by expanding its own outlets to a total of 78 stores by 2022. HRTA is also continuing to complement the business supply chain at the midstream level by establishing a gold refinery subsidiary through PT Emas Murni Abadi. "HRTA strengthens its position as the most integrated gold jewelery and gold bullion company from the midstream to downstream industries in Indonesia," he continued.
The several collaborations that have been established with Indonesian financial institutions have contributed to the success of the Company. Collaboration with Bank Negara Indonesia (BNI) through a syndicated loan of IDR 2.4 trillion is also proof of the trust from major financial institutions in Indonesia in the company's growth prospects. "We continue to innovate in order to increase the Company's productivity both through developing innovative products and also expanding markets not only domestically but also internationally," said Sandra.
"In addition, we also believe that on a macro level, the HRTA business will continue to benefit from the potential increase in gold commodity prices amid the current global banking crisis," said Sandra.
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