Cigarette Producers Sampoerna Mild And Dji Sam Soe Raise Sales Of IDR 53.50 Trillion, But Profits Drop 26 Percent To IDR 3.04 Trillion In Semester I 2022

JAKARTA - Cigarette manufacturers Sampoerna Mild, and Dji Sam Soe, namely PT HM Sampoerna Tbk. (HMSP) recorded an increase in sales during the second quarter of 2022.

In a written statement from HMSP, quoted on Thursday, July 28, although sales increased, the company's net profit was still corrected in the first semester of 2022. The HMSP stock code issuer posted sales of IDR 53.50 trillion in the first semester of 2022.

These sales increased by 12.34 percent compared to the same period last year of IDR 47.62 trillion. Sales of HM Sampoerna machine-made kretek cigarettes increased by 11.99 percent from IDR 31.84 trillion in the first semester of 2021, to IDR 35.67 trillion in the first semester of 2022.

Likewise, sales of HMSP's hand-rolled kretek segment increased to IDR 12.20 trillion, from IDR 10.56 trillion on an annual basis. Sales of HM Sampoerna machined white cigarettes decreased 1.70 percent to IDR 4.60 trillion, from IDR 4.69 trillion yoy.

Sales of other segments, namely hand white cigarettes, increased to IDR 357.40 billion, from IDR 139.02 billion in the first semester of 2021. Meanwhile, the company's export performance increased 40.16 percent from IDR 73.87 billion, to IDR 103.54 billion.

As for the volume, total sales of HMSP in the first semester of 2022 reached 76.8 billion cigarettes, 6.6 percent compared to the realization in the same period a year earlier, which was 72.1 billion cigarettes.

The increased sales performance of HMSP was followed by an increase in the company's cost of goods sold by 17.35 percent to IDR 45.52 billion, from IDR 38.79 billion yoy. This increase in the cost of goods sold was mainly due to the expense of excise tapes which rose 27.99 percent from IDR 26.66 trillion to IDR 34.13 trillion on an annual basis.

With the increase in expenses, the company's gross profit fell 9.66 percent to IDR 7.98 trillion, from IDR 8.83 trillion yoy. Profit for the year attributable to owners of the parent company also fell 26.26 percent to IDR 3.04 trillion, compared to IDR 4.13 trillion in January-June 2021.

As for the first semester of 2022, the company's total assets have decreased to IDR 42.49 trillion as of June 30, 2022, from IDR 53.09 trillion at the end of 2021.

The company's liabilities also decreased to IDR 17.66 trillion as of June 30, 2022, from IDR 23.89 trillion in December 2021. HM Sampoerna's total liabilities decreased as excise payables decreased to IDR 8.55 trillion as of June 30, 2022, from IDR 14.83 trillion at the end of the year 2021.