Palm Oil Company Owned By Conglomerate Peter Sondakh Loss IDR 1.4 Trillion, Even Though Earns IDR 2.94 Trillion In Revenue In 2021

Conglomerate Peter Sondakh. (Photo: Doc. Rajawali Corpora)

JAKARTA - The palm oil company owned by conglomerate Peter Sondakh, PT Eagle High Plantations Tbk recorded an increase in revenue in 2021. The company with the stock code BWPT managed to record operating revenues of Rp. 2.94 trillion, up 33.64 percent compared to the previous year of Rp. 2.2 trillion.

In BWPT's financial report, quoted on Thursday, March 31, based on its product, palm oil contributed to the company's revenue of Rp. 2.55 trillion, kernel kernel of Rp. 257.69 billion, fresh fruit bunches of Rp. 112.8 billion.

In line with the increase in revenue, the cost of goods sold also increased to Rp. 2.31 trillion from Rp. 2.14 trillion in 2020. So the company posted a gross profit for 2021 of Rp. 625.05 billion, up 1023.44 percent compared to the previous year of Rp. 55.64 billion.

After deducting losses from changes in the fair value of biological assets of IDR 572 million and operating expenses of IDR 346.64 billion, the company posted an operating profit of IDR 277.88 billion. In contrast to the previous year's position, which recorded an operating loss of Rp. 288.69 billion.

However, after taking into account other expenses, the company recorded a loss for the year attributable to owners of the parent company of Rp1.4 trillion. An increase of 29.82 percent compared to the previous year's loss of Rp. 1.08 trillion. The current year's loss per share also increased to Rp44.52 from the previous Rp34.29.

In terms of the company's assets until December 2021, it was Rp. 12.05 trillion, down from the end of 2020 which was Rp. 15.06 trillion. The details consist of current assets of IDR 1.77 trillion and non-current assets of IDR 10.27 trillion.

The company's liabilities were recorded at Rp. 9.99 trillion, down from the previous year of Rp. 11.57 trillion. It consists of short-term liabilities of Rp2.86 trillion and long-term liabilities of Rp7.13 trillion.

Meanwhile, equity until December 2021 was recorded at Rp2.06 trillion. This figure is down from Rp3.49 trillion in 2020.