SOE Net Profit Until June 2023 Capai Rp183.9 Trillion

JAKARTA - The Ministry of State-Owned Enterprises (BUMN) noted that in the last four years, BUMN's net profit has continued to grow.

Most recently, BUMN's net profit from January to June 2023 has reached IDR 183.9 trillion.

This number is up 12.9 percent compared to the same period last year.

In 2022, profit will reach IDR 309 trillion, an increase of 147.8 percent from 2021.

Meanwhile, in 2021, it will be a turning point for SOEs to rise from COVID-19, along with the revival of the Indonesian economy so that they can record a net profit of IDR 124.71 trillion.

Meanwhile, in 2019, BUMN's net profit was recorded at IDR 124.99 trillion.

A year later, BUMN's net profit decreased due to the pandemic to Rp13.29 trillion.

SOE Minister Erick Thohir said the net profit came from an increase in BUMN's business revenue in the first half of 2023 (1H-23) of IDR 1,389 trillion, an increase of 2.2 percent compared to the same period the previous year.

According to Erick, this state-owned revenue continues to grow.

Previously, throughout 2021 it reached Rp2,292 trillion, then grew to Rp2,916 trillion in 2022, or an increase of 27.2 percent year on year (yoy).

Furthermore, Erick also said that the contribution of SOEs to the economy increased, where BUMN capital expenditure (capex) in the first half of 2023 reached IDR 118.6 trillion, an increase of 47.3 percent compared to the same period in 2022 which reached IDR 80.55 trillion.

According to Erick, the increase in BUMN capex cannot be separated from the SOE policy in prioritizing strategic programs.

SOEs also focus on various restructuring programs so that these state companies can run their businesses effectively and efficiently.

"Along with the economic recovery, the performance of SOEs also continues to improve significantly," he said in a written statement in Jakarta, Thursday, October 26.

Erick said that the various positive business activities led the acquisition of the equity of all SOEs to Rp3,101 trillion in 2022 or grew 11.6 percent YoY from the same period the previous year of Rp2,778 trillion.

"The majority of SOEs have also left the debt dominance zone in their financial management, or are healthy. SOEs have reduced the level of debt compared to investments embedded from 36.2 percent in 2021, to 34.9 percent in 2022," he explained.

This achievement, said Erick, made SOEs resilient with assets growing from IDR 8,978 trillion in 2021 to IDR 9,789 trillion in 2022.

"Now, SOEs are getting healthier, more resilient and competitive. In the first half of 2023, our assets are IDR 9,842 trillion, up 3.9 percent year on year, and net profit IDR 184 trillion, up 13 percent year on year," said Erick.

On that basis, Erick is optimistic that SOEs will be able to deposit dividends of IDR 80.6 trillion. This figure is higher than the previous year (2022) of IDR 80.2 trillion.

"And it is the largest in the history of the Ministry of SOEs," he said.