Profit Of PT SMI Drops Slightly To IDR 2.08 Trillion In 2023, This Is The Cause

Director of Operations and Finance of PT SMI Darwin T. Djajawinata (second from the right). (Photo: Theresia Agatha/VOI)

JAKARTA - PT Sarana Multi Infrastruktur (Persero) or PT SMI recorded a net profit of IDR 2.08 trillion throughout 2023.

This figure was recorded to have decreased compared to the previous year which reached Rp2.16 trillion.

"Indeed, net profit in 2023 has decreased slightly compared to the previous profit in 2022. However, comprehensive profit has increased by 11.61 percent," said PT SMI Director of Operations and Finance Darwin T. Djajawinata in a media briefing at his office, quoted Thursday, March 28.

Based on the exposure data, PT SMI's comprehensive profit position reached IDR 2.32 trillion in 2023. This amount increased compared to comprehensive profit in 2022 which amounted to IDR 2.07 trillion.

Darwin revealed that the decline in profit in 2023 was due to the company's 2022 divestment of Jasamarga Semarang Batang.

"This is because previously in 2022 we had divestments from our share ownership in Jasamarga Semarang Batang. During 2022, we contributed around Rp. 300 billion," he said.

In addition, Darwin again received a mandate from PT SMI President Director Edwin Syahruzad to maintain the net profit target at IDR 2 trillion in 2024.

"I was told by Mr. Edwin, basically, net profit should not be less than IDR 2 trillion, that will be our target. Of course we will continue to strive to exceed the 2023 achievement," he said.

In addition, in 2023 PT SMI will be able to record revenues of IDR 7.6 trillion.

That number increased compared to the previous year's revenue, which was IDR 6.2 trillion.

He said the company's gross revenue in 2023 also increased compared to the previous year, which was 21.4 percent, an increase from IDR 3.1 trillion in 2022 to IDR 3.8 trillion in 2023.

Then in 2023, PT SMI's financing and investment activities have also contributed to the construction of infrastructure projects worth IDR 727.3 trillion.

The financing commitment throughout 2023 reached IDR 137.7 trillion. Meanwhile, the outstanding figure for financing and investment is IDR 91.3 trillion.

Furthermore, the gross disbursement in 2023 is IDR 15.3 trillion, consisting of a disbursement to a business entity worth IDR 15 trillion and to a local government of IDR 255 billion.