Shattered Brick Shoes, Loss Of IDR 177 Billion In 2020 From Previous Profit IDR 23 Billion

Bata Shoe Store. (Photo: Doc. Citraland Mall)

JAKARTA - PT Sepatu Bata Tbk (BATA) recorded a loss of IDR 177.76 billion in 2020. Whereas in the previous year, BATA recorded a profit of IDR 23.44 billion.

Quoted from the company's information disclosure on the Indonesia Stock Exchange (IDX) page Wednesday, May 26, BATA's net sales in 2020 stood at IDR 459.58 billion, down 50.64 percent from a year earlier of IDR 931.27 billion. The loss per share was recorded at IDR 136.74.

Net sales of shoe manufacturers consist of domestic sales (third parties) and exports (related parties). Domestic sales were recorded as the highest revenue contributor of IDR 456.67 billion or lower than the previous IDR 921.07 billion.

Meanwhile, export sales were recorded at IDR 2.90 billion or lower than the previous IDR 9.81 billion.

BATA recorded a decrease in the cost of goods sold in 2020 to IDR 361.65 billion from the same period in the previous year of IDR 502.69 billion, sales and marketing expenses also decreased to IDR 215.09 billion from the previous IDR 273.44 billion, and general and administrative expenses also decreased to IDR 105.25 billion from IDR 116.84 billion previously.

Net cash generated from operating activities noted IDR 149.45 billion, net cash used for investment activities noted IDR 12.85 billion, and net cash used for funding activities noted IDR 85.71 billion.

Sepatu Bata recorded liabilities of IDR 297.38 billion and equity of IDR 477.94 billion. The company's total assets decreased to IDR 775.32 billion compared to 2019 of IDR 863.14 billion.