JAKARTA - BUMN companies in the energy, pharmaceutical and mineral clusters are contributors to the increase in SOE revenue in 2021 which reached IDR 2,292.5 trillion, an increase of 18.8 percent compared to the previous year.
Deputy for Finance and Risk Management of the Ministry of SOEs, Nawal Nely, in submitting the Socialization Report on the Performance of the 2022 SOEs, said that the increase in SOE income was contributed by the increasing volume of sales of BUMN products in energy clusters.
"Employees who donate due to increased sales volume. Because in 2020, as we know the sales volume has decreased significantly due to the lockdown," said Nawal Nely, quoted from Antara, Wednesday, September 28.
The income of all SOEs grew from Rp1,920 trillion in 2020 to Rp2,292.5 trillion in 2021, an increase of 18.8 percent on an annual basis. This is due to sales growth, which is the largest component supported by financial income.
In addition to the energy cluster, the increase in revenue in 2021 is also contributed by the pharmaceutical cluster, namely through efforts to handle Covid-19 through vaccination, prevention, and medicines.
Nawal Nely also said that the mineral and coal cluster BUMN also contributed to one of the largest revenues through the sale of mining products downstream.
The SOE EBITDA margin also increased to 20.4 percent in 2021 compared to the previous year caused by improvements in efficiency in in indirect operating expenses.
In addition, debt restructuring and lower loan interest rates in 2021 resulted in a reduction in the interest burden on consolidation from Rp. 91.5 trillion in 2020 to Rp. 73.5 trillion in 2021.
The growth in sales, improvement in operating margins, reduction in interest expense due to restructuring and decreasing exchange losses, in the end contributed positively which resulted in a net profit in 2021 increasing to IDR 124.7 trillion, an increase of 838.2 percent compared to 2020 which amounted to IDR 13.3 trillion.
Of the total assets of 92 SOEs, it also increased by 8 percent from IDR 8,331 trillion in 2020 to IDR 8,976 trillion in 2021.
Five state-owned companies with the largest assets today are Bank Mandiri, Bank Rakyat Indonesia, Telkom, PLN, and Pertamina.
"Top five kita Mandiri, BRI, Telkom, PLN, and Pertamina in terms of asset composition," kata dia.
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