Avian Paint Manufacturer Owned By Conglomerate Hermanto Tanoko Raised Sales Of IDR6.77 Trillion And Profit Of IDR1.43 Trillion In 2021

Avian Paint Factory. (Photo: Doc. Avian Brands)

JAKARTA - Avian paint producer, PT Avia Avian Tbk (AVIA) posted an increase in performance throughout 2021. The company owned by conglomerate Hermanto Tanoko posted sales of IDR 6.77 trillion throughout 2021.

In AVIA's financial report, quoted Monday, March 21, these sales increased 18.29 percent compared to the 2020 period of IDR 5.73 trillion. The company posted sales of IDR 5.3 trillion throughout 2021, an increase of 17.73 percent from IDR 4.5 trillion on an annual basis or year on year (YoY).

Likewise, merchandise sales increased by 20.24 percent from IDR 1.2 trillion in 2020 to IDR 1.4 trillion at the end of 2021. In line with this increase in sales, the company's cost of goods sold also increased by 23.10 percent to IDR 3.9 trillion, from IDR 3.2 trillion YoY.

Despite the increased expenses, the company was recorded to be able to record a gross profit of IDR 2.8 trillion, up 12.19 percent compared to 2020 of IDR 2.5 trillion. AVIA recorded a profit for the year of IDR 1.43 trillion, up 26.23 percent compared to 2020 of IDR 1.13 trillion.

Until the end of 2021, the company was also recorded to be able to record an increase in assets to IDR 10.87 trillion, up from IDR 5.87 trillion compared to the end of 2020. The increase in the company's assets was due to current assets which rose to IDR 8.88 trillion, from IDR 3.9 trillion YoY due to investment. in government bonds which rose to IDR 4.8 trillion.

Meanwhile, the company's total liabilities also rose from IDR 1.18 trillion on 31 December 2020 to IDR 1.45 trillion in 2021. The company's total equity also rose sharply to IDR 9.4 trillion at the end of 2021, from IDR 4.6 trillion at the end of 2020 due to an increase in the company's additional paid-in capital of  IDR 7.79 trillion.