Cigarette Producers Sampoerna Mild and Dji Sam Soe Earn IDR 4.9 Trillion Profit in the Third Quarter of 2022

JAKARTA - Cigarette producers Sampoerna Mild and Dji Sam Soe, PT HM Sampoerna Tbk (HMSP) recorded a decline in net profit in the third quarter of 2022. HMSP's net profit was recorded at Rp4.9 trillion in the first nine months of this year.

In HSMP's financial report, quoted on Thursday, October 27, this net profit fell 11.75 percent compared to the same quarter last year IDR 5.5 trillion. The decrease in HMSP's net profit was due to an increase in the cost of goods sold by 18.5 percent to IDR 70.8 trillion, from IDR 59.78 trillion on an annual basis or year-on-year (YoY).

One of the reasons for the increase in the company's basic expenses was the expense of excise bands of IDR 50.3 trillion, up 23.8 percent from IDR 40.6 trillion on an annual basis. However, HMSP's sales are still recorded to have increased by 15 percent from IDR 72.5 trillion in the third quarter of 2021, to IDR 83.3 trillion in the third quarter of 2022.

HMSP recorded an increase in sales in almost all of its cigarette segments. Sales of HMSP machine-made kretek cigarettes (SKM) in the third quarter of 2022 reached IDR 55 trillion, up 14.35 percent on an annual basis from Rp48.15 trillion.

Meanwhile, sales of hand-rolled kretek cigarettes (SKT) reached IDR 19.6 trillion, an increase of 19.48 percent from IDR 16.4 trillion YoY. Meanwhile, sales of machine white cigarettes (SPM) and hand white cigarettes (SPT) HMSP increased by IDR 7.02 trillion and IDR 603.8 billion, respectively, in the third quarter of 2022.

Meanwhile, HMSP's export sales until September 30, 2022, reached IDR 159.4 billion. As for the third quarter of 2022, HMSP's total assets were recorded to have fallen to IDR 47.7 trillion, from IDR 53 trillion at the end of 2021.

HMSP's total liabilities also decreased from IDR 23.8 trillion at the end of December 2021, to IDR 21.08 trillion at the end of September 2022. Likewise, HMSP's total equity decreased to IDR 26.7 trillion on September 30, 2022, from IDR 29.1 trillion on December 31, 2021.