Supported By Gold Sales, HRTA Pockets Revenue Of IDR 12.86 Trillion In 2023

JAKARTA - Gold and jewelry issuers, PT Hartadinata Abadi Tbk (HRTA) reported that the company's revenue in 2023 reached IDR 12.86 trillion or grew 85.84 percent on an annual basis (yoy) from IDR 6.92 trillion in 2022.

Meanwhile, on the other hand, net profit was recorded at IDR 305.80 billion in 2023, an increase of 20.62 percent from IDR 253.52 billion in 2022.

HRTA President Director, Sandra Sunanto said, revenue growth was supported by an increase in sales volume in gold and an increase in the average selling price.

"HRTA has also succeeded in developing its business through exports of gold jewelry to India and the United Arab Emirates since March 2023," he said in a public expose, Wednesday, April 24.

HRTA's marketing network was also expanded with the opening of 85 outlets in 2023. HRTA's market share continues to increase, especially in the Batangan Gold segment, with the pure gold market share rising from 15.58 percent in 2022 to 18.52 percent in 2023, and gold bullion from 15.64 percent in 2022 to 28.51 percent in 2023.

Director of Finance HRTA Deny Ong said HRTA managed to record solid growth during the pandemic where up to FY23, the Company's financial performance recorded an all-time high.

"This increase is also supported by export activities that we have never previously carried out. Exports themselves contributed 33.26 percent to the company's revenue," said Deny.

In business development, he continued, the company is not only focused on trading and the gold jewelry industry, but has also developed the Gadai business through PT Gemilang Hartadinata Abadi (GHA).

GHA has opened several subsidiaries and has 91 outlets throughout Indonesia by 2023. Gadai Perseroan's subsidiary is spread across six provinces, with permission from the Financial Services Authority (OJK). This step aims to reach consumers from various levels of society, as well as part of the Company's sustainable investment and commitment to provide convenience to the community.

"The company believes that business development in the Gadai sector will support the improvement of the Company's performance in the future," he concluded.