Cleo Beverage Manufacturer Owned By Conglomerate Hermanto Tanoko Raised Sales Of IDR 1.1 Trillion And Profit Of IDR 180 Billion In 2021

JAKARTA - The company in the consumer sector owned by conglomerate Hermanto Tanoko, PT Sariguna Primatirta Tbk (CLEO) or Tanobel Food posted a slick performance throughout 2021. The revenue and profit of the Cleo brand packaged beverage producer was able to grow significantly last year.

Based on CLEO's financial report, quoted Monday, March 28, the company recorded an increase in net sales performance of 13.45 percent year on year (yoy), from IDR 972.63 billion in 2020 to IDR 1.10 trillion throughout 2021. The increase in revenue was supported by an increase in sales to related parties. from IDR 758.33 billion in 2020 to IDR 922.12 billion in 2021.

Meanwhile, sales to third parties decreased from IDR 214.29 billion in 2020 to IDR 181.40 billion in 2021.

The increase in sales also occurred in almost all segments, such as sales of bottled water which rose by IDR 394.08 billion to IDR 463 billion in 2021, and sales of non-bottled water which rose from IDR 548.46 billion to IDR 615.70 billion. Other sales were recorded to have decreased from IDR 30.08 billion in 2020 to IDR 24.72 billion in 2021.

The increase in sales was also followed by an increase in cost of goods sold by 14.19 percent yoy from IDR 562.23 billion in 2020 to IDR 642.03 billion in 2021. A significant increase in raw material costs by 33.41 percent from IDR 261.55 billion to IDR 348.94 billion to ballast the cost of goods sold.

CLEO posted an increase in gross profit of 12.44 percent from IDR 410.39 billion in 2020 to IDR 461.14 billion in 2021.

Meanwhile, CLEO's profit for the year increased significantly by 36.10 percent from IDR 132.77 billion to IDR 180.71 billion in 2021. CLEO's equity increased 11.94 percent to IDR 1.00 trillion, while liabilities decreased 16.72 percent to IDR 346.60 billion.