Conglomerate Purnomo Prawiro Distributes Rp5.96 Billion 'Shopping' Blue Bird Shares Of 3.73 Million Shares

Conglomerate Purnomo Prawiro. (Photo: Doc. Forbes)

JAKARTA - Conglomerate Purnomo Prawiro has accumulated 3.73 million shares of PT Blue Bird Tbk (BIRD). Purnomo Prawiro, who is the owner of Blue Bird, poured around Rp5.96 billion to increase his share ownership in the taxi company.

In Blue Bird's information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Monday 29 November, Purnomo purchased shares of the transportation issuer on November 23, 2021, and November 25, 2021. Purnomo Prawiro purchased BIRD shares with a price range of Rp1,565 to Rp1,600. The total shares purchased were 3.73 million shares.

After the transaction, Purnomo's share ownership increased from 280.91 million shares, or 11.22 percent, to 284.65 million shares, or 11.37 percent.

"The purpose of the transaction is for investment, direct ownership status," explained Blue Bird.

2021 third-quarter performance

For information, 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, Blue Bird's management 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 detailed, 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 operations support so that operating expenses also decreased by Rp46.2 billion on an annual basis. It also made the company's operating loss much better this year from the previous Rp177 billion to Rp108 billion. "The next factor is one of the company's business lines, Mobil Go, which is engaged in selling used cars ex-Bluebird fleet, showing excellent performance. Profit on asset sales rose very significantly from previously recording a loss of Rp5.4 billion in the third quarter of 2020 to a profit of Rp48.6 billion in the first nine months of this year.