SOE Consolidation Revenue In 2021 Capai IDR 2,295 Trillion, Erick Thohir: Almost Equally State Budget

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir said the performance of plate companies showed significant growth. This is reflected in consolidated revenue in 2021 which increased by Rp2,295 trillion, growing by around 18.8 percent compared to 2020.

The growth was driven by growth in global commodity prices, to growth in sales volume from some economic activities in several clusters.

"The 2021 revenue increased by 18.8 percent to Rp2,295 trillion. This means a very significant number when compared to our state budget which is around Rp2,500 trillion. The proportional is almost similar," he said at the launch of the annual report on the consolidation of the Ministry of SOEs, Wednesday, September 28.

On the other hand, said Erick, the EBITDA margin has increased to 20.4 percent in 2021. Especially due to improvements in efficiency in indirect operating expenses.

"We also see that EBITDA margins increased by 20.4 percent. The healthier and clearer is healthy. If there is a perception that SOEs have a lot of debt, that the total debt of SOEs compared to investment is IDR 1,500 trillion and capital is invested IDR 4,209 trillion. This means that the ratio of 35 percent between debt and equity, means healthy," he explained.

Then, said Erick, debt restructuring and lower interest rates in 2021 will result in a reduction in consolidation interest expense from IDR 91.5 trillion in 2020 to IDR 73.5 trillion in 2021.

"The flower was previously Rp. 91.5 trillion, in 2021 it decreased by Rp. 73.5 trillion. This is an improvement that we can see and God willing, the number of SOEs will continue to consolidate," he said.

"We want to make sure that there are not many SOEs but the impact of SOEs on industry and value on the community and how we hope that SOEs can make a good contribution to the country," he continued.