The Company Whose Shares Are Owned By Indonesia's Richest Widow, Conglomerate Arini Subianto, Targets Revenue Of IDR 3.4 Trillion In 2022

JAKARTA - The company owned by conglomerate Arini Subianto, PT Surya Semesta Internusa Tbk (SSIA) is targeting marketing sales of 20 hectares of industrial land in Suryacipta of Industry Karawang and 60 hectares of Subang Smartpolitan.

The company also hopes that this increase is expected to have an impact on expectations of revenue growth of 45 percent in 2022. For information, SSIA reaps revenue of Rp. 2.35 trillion in 2021, which means that in 2022 the company is able to earn Rp. 3.4 trillion in revenue posts.

The growth in land sales is expected to have an impact on financial performance. According to management, the company's revenue is predicted to grow by 45 percent this year, supported by all business segments. Land sales are estimated at 21.3 hectares in Karawang.

Revenue growth is also expected to be supported by the construction business with the expectation of an increase in revenue of up to 14 percent in 2022. Likewise, the hotel business is expected to revive again, supported by the normalization of community activities.

"We estimate that hotel business revenues will grow 150 percent this year, supported by expectations of increased consumer demand," the management wrote in an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted Thursday, April 14.

Last year was not a good moment for SSIA. The company posted a revenue decline of 20.2 percent from Rp. 2.94 trillion to Rp. 2.35 trillion.

This decrease resulted in a weakening of EBITDA from Rp255.8 billion to Rp181.9 billion. The decline in revenue was triggered by a decrease in revenue from all of the company's business segments, such as the property segment's revenue weakening by 20.1 percent, the construction segment dropping 20 percent, the hotel segment declining by 13 percent, and others dropping to 4.8 percent.

The decrease in revenue resulted in an increase in the company's comprehensive loss from 2020 of Rp. 115.7 billion to Rp. 169.8 billion.