Up 27 Percent, Surya Semesta Internusa Achieves IDR 3.86 Trillion In Revenue In The Third Quarter Of 2024

Photo: Doc. PT Surya Semesta Internusa Tbk (SSIA)

PT Surya Semesta Internusa Tbk (SSIA) posted revenue of IDR 3.86 trillion in the third quarter of 2024, an increase of 27 percent from IDR 3.02 trillion in the third quarter of 2023. This increase was mainly driven by construction revenues of IDR 532.9 billion, while revenues from the property and hospitality segments amounted to IDR 262.3 billion and IDR 155 billion, respectively.

VP of Investor Relations & Corporate Communications Surya Semesta Internusa, Erlin Budiman said, the increase in revenue made the company's gross profit to Rp1.17 trillion in the third quarter of 2024, an increase of 52.2 percent from Rp771.7 billion in the third quarter of 2023. The increase in gross profit of property increased by 138.6 percent (Rp221.1 billion) and an increase in hotel gross profit of 27.1 percent Rp117.7 billion).

Then, the company's EBITDA also increased by 94, percent to IDR 660 billion in the third quarter of 2024, from IDR 339.7 billion in the third quarter of 2023. This increased EBITDA is the result of an increase in property EBITDA by 235.7 percent to IDR 196.7 billion.

"As a result of an increase in revenue and EBITDA, the company's consolidated net profit was IDR 228.4 billion per third quarter of 2024 from a net loss of IDR 23.7 billion in the third quarter of 2023. Profit increased significantly from the increase in net profit for the property business," he said in his official statement, Monday, November 4.

The company's cash position was IDR 1.88 trillion as of the third quarter of 2024 or decreased 49.1 percent from IDR 3.71 trillion in the first quarter of 2024. Meanwhile, the interest imposed was IDR 831 billion in the third quarter of 2024, down 59.6 percent from IDR 2.059 trillion in the first quarter of 2024, which resulted in a debt-to-equity ratio of 10.7 percent.

The company's total assets are IDR 10.47 trillion per third quarter of 2024, down from IDR 11.45 trillion in the first quarter of 2024. The total assets consist of liabilities of IDR 2.69 trillion, non-controlling interests of IDR 2.28 trillion, and equity of IDR 5.49 trillion.