Profits Of Cigarette Producers Sampoerna Mild And Dji Sam Soe Drop 25 Percent To IDR 1.91 Trillion In The First Quarter Of 2022

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JAKARTA - The cigarette company PT HM Sampoerna Tbk (HMSP) posted a decline in net profit in the first quarter of 2022, even though sales of the producers of Dji Sam Soe and Sampoerna Mild increased.

And for your information, HMSP's export sales lost to its competitor in the cigarette industry, namely PT Gudang Garam Tbk (GGRM). This HMSP posted sales of Rp. 26.1 trillion in the first quarter of 2022, an increase of 11.05 percent compared to the same period last year of Rp. 23.5 trillion.

Sales of the company's machine-made kretek cigarettes recorded an increase of 10.61 percent from Rp. 15.6 trillion in the first quarter of 2021, to Rp. 17.3 trillion in the first quarter of 2022. Likewise, sales of HMSP's hand-rolled kretek segment rose to Rp. 6.08 trillion, from Rp. 5 trillion. .32 trillion year-on-year (yoy).

Sales of the company's machined white cigarettes decreased by 1.20 percent to Rp.2.29 trillion, from Rp.2.32 trillion yoy. Sales of the other segment, namely hand white cigarettes, experienced a significant increase by 421.2 percent to Rp191 billion, from Rp36.6 billion yoy.

Meanwhile, the company's export performance increased by 51.65 percent from IDR 35.2 billion to IDR 53.4 billion. Despite the increase, the company's export performance is still lower than other cigarette issuers PT Gudang Garam Tbk (GGRM), which recorded exports of IDR 346.9 billion in the first quarter of 2022.

The increased sales performance of HMSP also helped to increase the company's cost of goods sold by 18.25 percent to Rp. 21.9 billion, from Rp. 18.5 billion yoy. This increase in cost of goods sold was mainly due to the expense of excise tapes which rose 21.57 percent from Rp. 14.4 trillion to Rp. 17.6 trillion on an annual basis.

With the increase in expenses, the company's gross profit fell 15.43 percent to Rp4.26 trillion, from Rp5.03 trillion yoy. Profit for the year attributable to owners of the parent company also decreased by 25.96 percent to IDR 1.91 trillion in the first quarter of 2022, from IDR 2.58 trillion compared to the first quarter of 2021.

As for the first quarter of 2022, the company's total assets have increased to Rp. 59.8 trillion, from Rp. 53 trillion at the end of 2021. This increase in assets was due to the increase in the company's inventory to Rp. 24.6 trillion in the first quarter of 2022, from Rp. 17.7 trillion at the end of 2021. .

Likewise, the total liabilities of HMSP increased to Rp. 28.7 trillion on March 31, 2022, from Rp. 23.8 trillion on December 31, 2021. The total liabilities of HMSP increased due to the increase in other tax payables to Rp. 2.24 trillion and excise payables to Rp. 17.73. trillion in the first quarter of 2022.

The company's total equity also increased to IDR 31.1 trillion at the end of March 2022, from IDR 29.1 trillion at the end of December 2021. Total equity increased due to an increase in unreserved retained earnings of IDR 9.28 trillion.