Troubled Bata Shoes, Loss Of Rp177 Billion In 2020 And Sales Down 50 Percent

JAKARTA - PT Sepatu Bata Tbk (BATA) recorded a loss of Rp177.76 billion in 2020. Whereas in the previous year, BATA recorded a profit of Rp23.44 billion.

Quoted from the company's information disclosure on the Indonesia Stock Exchange (IDX) page Wednesday, May 26, BATA's net sales in 2020 stood at Rp459.58 billion, down 50.64 percent from a year earlier of Rp931.27 billion. The loss per share was recorded at Rp136.74.

Net sales of shoe manufacturers consist of domestic sales (third parties) and exports (related parties). Domestic sales were recorded as the highest revenue contributor of Rp456.67 billion or lower than the previous Rp921.07 billion.

Meanwhile, export sales were recorded at Rp2.90 billion or lower than the previous Rp9.81 billion.

BATA recorded a decrease in the cost of goods sold in 2020 to Rp361.65 billion from the same period in the previous year of Rp502.69 billion, sales and marketing expenses also decreased to Rp215.09 billion from the previous Rp273.44 billion, and general and administrative expenses also decreased to Rp105.25 billion from Rp116.84 billion previously.

Net cash generated from operating activities noted Rp149.45 billion, net cash used for investment activities noted Rp12.85 billion, and net cash used for funding activities noted Rp85.71 billion.

Sepatu Bata recorded liabilities of Rp297.38 billion and equity of Rp477.94 billion. The company's total assets decreased to Rp775.32 billion compared to 2019 of Rp863.14 billion.