Gudang Garam, Cigarette Company Owned By Conglomerate Susilo Wonowidjojo Raise Revenue Of Rp92.07 Trillion In The Third Quarter Of 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Gudang Garam Tbk (GGRM) recorded performance growth in the third quarter of 2021. The revenue of the cigarette company owned by conglomerate Susilo Wonowidjojo grew throughout the first nine months of this year.

In Gudang Garam's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Sunday, October 31, Surya Pro's revenue was Rp92.07 trillion as of the third quarter of 2021. This achievement increased by 10.42 percent compared to the same period last year. then which is worth Rp83.38 trillion.

The revenue came from the cigarette segment amounting to Rp90.94 trillion. Then the revenue from paperboard was Rp1.72 trillion, and other income was Rp67.83 billion, with elimination of Rp658.25 billion.

In line with the increase in revenue, the cost of goods sold in the third quarter of 2021 also increased by 16 percent, to Rp81.67 trillion from Rp70.39 trillion. So that a gross profit of Rp10.4 trillion was obtained, a decrease of 19.88 percent compared to the third quarter of 2021 which was valued at Rp12.98 trillion.

During the first nine months of this year, the company recorded other revenues of Rp242.87 billion and foreign exchange gains of Rp16.55 billion. After deducting operating expenses and other expenses, an operating profit of Rp5.32 trillion was obtained, down 30.28 percent compared to the same period last year of Rp7.63 trillion.

After deducting interest expense and income tax expense, the Company recorded a profit that can be distributed to the owners of the parent company of Rp4.13 trillion. Down 26.9 percent compared to the same period last year of Rp5.65 trillion.

In terms of the Company's assets as of September 2021, it was recorded at Rp83.25 trillion, up from the position on December 31, 2020, which was Rp78.19 trillion. It consists of current assets of Rp53.24 trillion and non-current assets of Rp30.01 trillion, while the Company's total liabilities rose 29.8 percent to Rp25.53 trillion until the third quarter of 2021.