Mining Company Owned By Conglomerate Eka Tjipta Widjaja Revenue Of IDR 10.63 Trillion And Profit Of IDR 2.08 Trillion In Semester I 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - The mining company belonging to the Sinar Mas Group, namely PT Golden Energy Mines Tbk scored a positive performance in the first six months of this year, the issuer coded GEMS posted a surge in revenue and profit in the first semester of 2021.

In the GEMS financial report published on the Indonesia Stock Exchange (IDX) website, quoted Monday, August 9, the net profit of the company owned by conglomerate Eka Tjipta Widjaja jumped 168.87 percent from 53.36 million US dollars as of June 2020 to 143.47 million dollars. US (approximately IDR 2.08 trillion) as of June 2021.

GEMS's soaring net profit was supported by revenue which grew by 28.23 percent (yoy). In the first semester of 2020, GEMS' revenue was recorded at USD 572.07 million and increased to USD 733.59 million (Rp 10.63 trillion) in the first semester of 2021.

Overseas market sales dominated GEMS revenue, where the figure rose from US$338.53 million in June 2020 to US$448.52 million in June 2021. The increase in revenue was also contributed by domestic sales, which was initially US$233.54 million. in the first semester of 2020 to US$285.07 million in the first semester of 2021.

In addition to the increase in revenue, the company's profit performance was also contributed by the efficiency of selling expenses from the previous 102.69 million US dollars to 95.44 million US dollars.

Financial expenses can also be trimmed slightly from 4.78 million US dollars as of June 2020 to 4.19 million US dollars as of June 2021. However, exploration expenses have increased significantly from 92.31 thousand US dollars to 444.51 thousand US dollars.