The Destruction Of CGV Cinemas, Loss Of Rp.445 Billion In 2020, Income Decreased By 81 Percent

JAKARTA - The manager of the CGV cinema, PT Graha Layar Prima Tbk (BLTZ) recorded a loss of Rp.445.83 billion in 2020. In fact, in 2019, CGV still made a profit of Rp. 83.34 billion.

Quoted from the CGV financial report published on the information disclosure page of the Indonesia Stock Exchange (IDX), Friday, May 28, Graha Layar Prima's net income in 2020 was recorded at IDR255.83 billion. This achievement was down 81.91 percent from the previous year amounting to Rp1.41 trillion, with a basic loss per share of Rp510.

If broken down, CGV's net income consists of cinema, food and beverage, events and advertisements, as well as licensing and management services. Cinemas became the highest revenue contributor, amounting to Rp160.79 billion or a significant drop from the previous Rp887.13 billion.

Then, food and beverages were recorded at Rp. 64.07 billion or lower than the previous Rp. 358.41 billion, events and advertisements were recorded at Rp. 30.85 billion or lower than the previous Rp. 168.14 billion, and licenses and management services were recorded at Rp. 102.42 million. or lower than the previous Rp. 900.30 million.

BLTZ recorded a decrease in cost of goods sold in 2020 to Rp323.19 billion from the same period the previous year Rp872.73 billion, general and administrative expenses also decreased to Rp218.96 billion from the previous Rp391.75 billion. Other expenses increased to Rp106.03 billion from the previous other income of Rp7.23 billion.

Net cash flows used in operating activities were recorded at IDR93.50 billion, net cash flows used for investing activities were IDR117.41 billion, and net cash flows obtained from financing activities were IDR182.44 billion.

Graha Layar Prima recorded liabilities of IDR1.63 trillion and equity of IDR796.35 billion. The company's total assets increased to IDR 2.43 trillion compared to 2019 which amounted to IDR 1.91 trillion.