Blue Bird Owned By Conglomerate Purnomo Prawiro Earns Rp1.45 Trillion In Revenue, But Still Loses Rp66.3 Billion In The Third Quarter Of 2021

JAKARTA - Taxi company, PT Blue Bird Tbk (BIRD) posted revenue of Rp1.45 trillion as of September 2021, or down 6.6 percent on an annual basis. However, the management of the company owned by the conglomerate Purnomo Prawiro considers this achievement to be fairly good, despite restrictions on community mobility in the midst of the COVID-19 pandemic.

"The average monthly income for the pandemic period (January-September) 2021 increased by Rp24 billion or 17.5 percent compared to the average monthly income for the pandemic period [March-December] 2020, which shows the company is on a strong recovery path and is able to face The pandemic shock is better than last year," said Blue Bird's Managing Director, Sigit Djokosoetono in a written statement, quoted Monday, November 1.

Sigit said, in addition to the implementation of restrictions on community activities (PPKM) in 2021, during January and February 2020 the company's income was still in the normal period before the pandemic where the company's performance at that time was very good with an average income of around 7 percent compared to January-February 2020. February 2019.

"When compared between the pandemic period in 2020 and 2021, he continued, the company's performance actually improved in the third quarter of 2021. Meanwhile, the company's net loss in September 2021 was recorded at Rp66.3 billion, an improvement of 58 percent compared to the loss in September 2020, which was Rp158 billion.

"The company's EBITDA also increased where in the third quarter of 2021 the EBITDA generated was Rp248 billion, an increase of Rp12.5 billion compared to the first nine months of 2020," he added.

Sigit further details, Bluebird's performance improvements are supported by several factors. Among other things, the company's direct expenses fell 9.6 percent or Rp125.3 billion in the third quarter of 2021 compared to the same period the previous year as a result of the company's operational efficiency.

In addition, the company's efficiency strategy was also implemented in the line of supporting operations so that operating expenses also decreased by Rp46.2 billion on an annual basis. It also made the company's operating loss this year much improved from the previous Rp177 billion to -Rp108 billion.

"The next factor is that one of the company's business lines, namely Mobil Go, which is engaged in selling used cars from the former Bluebird fleet, showed very good performance. Profit on asset sales rose very significantly from previously recording a loss of Rp5.4 billion in the third quarter of 2020 to profit of Rp48.6 billion in the first nine months of this year," he explained.