Smartfren, Telecommunication Service Company Owned By Conglomerate Eka Tjipta Widjaja Loss IDR 435.32 Billion In 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Smartfren Telecom Tbk (FREN) is still suffering losses in 2021. However, the loss of the telecommunication services company from the Sinarmas Group owned by conglomerate Eka Tjipta Widjaja is starting to thin out.

In FREN's financial report, quoted on Wednesday, March 16, it was stated that the company posted a net loss of IDR 435.32 billion in 2021. FREN's loss was much better than the loss in 2020 which reached IDR 1.52 trillion.

Improvements from the bottom line are inseparable from the growth of the company's top line. Throughout 2021, FREN recorded operating revenues of up to IDR 10.45 trillion. Smartfren's revenue increased by 11.15% compared to 2020 which was recorded at IDR 9.4 trillion.

Revenue from data telecommunication services is still a pillar of up to IDR 9.61 trillion. Data revenue was recorded to be higher than in 2020 which was recorded at IDR 8.62 trillion.

Meanwhile, non-data telecommunication services contributed up to IDR 284.51 billion. This non-data income also increased 39.11 percent compared to the previous year which was recorded at IDR265.53 billion.

Interconnection services contributed IDR 191.96 billion to total operating revenues, and others contributed IDR 369.38 billion. Both seem to grow when compared to 2020, respectively 12.86 percent and 39.11 percent

For your information, the total assets pocketed by FREN until the end of 2021 were recorded at IDR 43.35 trillion, an increase of 12.08 percent compared to the end of 2020 which was recorded at IDR 38.68 trillion.

Meanwhile, its liabilities rose 16.67 percent to IDR 30.70 trillion. Meanwhile, its equity rose 2.33 percent YoY to IDR 12.65 trillion.