BSDE Record IDR1.35 Trillion Net Profit in 2021

- 02 April 2022 22:35 WIB
BIG BSD CITY New Urban Retail Complex member of @sinarmas_land
BIG BSD CITY New Urban Retail Complex member of @sinarmas_land

JAKARTADAILY.ID --  Publicly listed property developer PT Bumi Serpong Damai Tbk (IDX:"BSDE") achieved a record of 378.74% growth in Profit for the Year Attributable to Owners ofThe Company. In 2021, the property developer with the highest market capitalization in Indonesia earned IDR1.35 trillion in Profit for the Year Attributable to the Owners of The Company, while in 2020 it was recorded at IDR 281.70 billion.

"The solid sales performance and investment strategy cannot be separated from the surging profit growth." Hermawan Wijaya, BSDE’s Director explains, Thursday 31 March, 2022.

Hermawan  said the Company's high demand for high-quality property products, combined with the government's property incentive, has become a positive catalyst for Revenues growth. By the end of 2021, BSDE generated Revenues of IDR7.65 trillion, increasing 23.85% compared to IDR6.18 trillion in the same period in 2020.

The Land, Building and Strata Title Sales segment  accounted for 80% of the consolidated Revenues, or IDR6.12 trillion. In comparison to the previous year's IDR4.96 trillion, this segment increased by 23.56%.

"The sale of landed houses contributes significantly to the sale of our property units." Hermawan said.

The rental segment had IDR715.86 billion in revenue in 2021. This equates to a 9.35% contribution to consolidated Revenues. As a result of this achievement, this category is now the second-largest Revenues contributor. Followed by the construction segment of the highest contribution, with IDR490 billion, or 6.40% of consolidated revenue.  This segment is the fastest growing, with a 311% growth rate.

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Due to the sheer strong Revenues growth in 2021, Gross Profit increased by 11.48% to IDR4.74 trillion. Whereas IDR4.25 trillion was recorded last year.  Operating Profit increased by 20.68 percent to Rp2.39 trillion, continuing the profit segment's strong performance. This value is after deducted by Operating Expenses of IDR2.35 trillion in 2021.

From IDR496.22 billion in 2020 to IDR1.55 trillion in 2021, profit before taxes increased by 211%. Most of the growth was due to the gain on bargain purchase of a subsidiary of IDR154 billion and the Share in Net Income of Associates and Joint Ventures of IDR90.73 billion, which had previously been reported at minus IDR527.61 billion.

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Editor: Mukhtar Wijaya

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