Smooth Sales Of Land And Buildings, BSD Net Profit Grows 80.42 Percent In 2022

JAKARTA - PT Bumi Serpong Damai Tbk (BSDE) recorded a profit for the year attributable to parent owners of IDR 2.43 trillion in 2022. This amount grew 80.42 percent compared to the previous year at IDR 1.35 trillion.

This performance cannot be separated from the solid operating revenues throughout 2022 which reached IDR 10.24 trillion, equivalent to a growth of 33.71 percent year on year (yoy).

"Consumer interest in the property products that we market is quite high, both residential and commercial," said BSDE Director Hermawan Wijaya in a written statement, Friday, March 17.

This can be seen from the growth in Operating Revenue per segment. Revenue from the Land, Building, and Strata Title segments recorded significant growth and became the main revenue contributor compared to other segments.

Throughout 2022, the Land, Building, and Strata Title sales segment managed to record revenue of IDR 7.90 trillion, growing 29.05 percent compared to the same period in 2021 of IDR 6.12 trillion. This segment is the segment with the largest contribution to BSDE's consolidated revenue of up to 77.22 percent.

Hermawan explained, BSDE has several main segments in revenue, namely the Land, Building, and Strata Title Sales Segment, Rental Segment, Hotel Segment, Recreation Arena Segment; Building Management Segment, and Other Segments.

The rental segment is the revenue segment with the second largest revenue contribution, reaching IDR 925.48 billion. This segment grew 29.28 percent compared to last year's achievement of IDR 715.86 billion.

Meanwhile, the third largest revenue segment was contributed by the Building Management Segment which recorded revenue of IDR 347.95 billion, growing 23.24 percent yoy. Whereas last year it was recorded at IDR 282.34 billion.

Hermawan added, besides successfully recording positive sales growth. BSDE is also keeping costs down. This is done to maintain margins for sustainable business growth.

Throughout 2022, the growth of the Cost of Goods Sold was maintained at around 16.97 percent which amounted to IDR 3.41 trillion, compared to last year's expenses of IDR 2.91 trillion.

The growth in Cost of Goods Sold which was lower than the growth in Operating Revenues made Gross Profit grow 44.01 percent to IDR 6.83 trillion yoy. Meanwhile, in 2021 it was recorded at IDR 4.74 trillion.

The positive performance of business activities was also seen in the performance of Operating Profit which grew 54.88 percent yoy. BSDE at the end of 2022 posted an Operating Profit of IDR 3.71 trillion compared to the same period last year IDR 2.39 trillion.

Profit before tax was also recorded to grow convincingly by 72.05 percent to IDR 2.66 trillion. As for last year, it was recorded at IDR 1.55 trillion.