The Tower Company Of The Djarum Group, Owned By The Hartono Brothers Conglomerate, Lost IDR 68.9 Billion While Raising Revenue Of IDR 2.07 Trillion

Illustration. (Photo: Unsplash)

JAKARTA - The tower company from the Djarum Group PT Solusi Tunas Pratama Tbk (SUPR) reported performance throughout 2021. The company's revenue belonging to the Hartono Brothers conglomerate recorded an increase, but recorded a net loss in 2021.

In SUPR's financial report, which was quoted on Tuesday 19 April, the company recorded revenues of Rp. 2.07 trillion in 2021. This revenue increased by 8 percent from Rp. 1.92 trillion compared to 2020.

The increase in the company's revenue was driven by an increase in rental income from Rp. 1.8 trillion to Rp. 1.91 trillion, an increase of 6.39 percent. Then, service and other revenues also rose to Rp157 billion, from Rp118.7 billion year-on-year (yoy).

Based on its customers, SUPR recorded the most revenue from PT XL Axiata Tbk. (EXCL), which is IDR 680.9 billion in 2021 or reaching 32.8 percent of the percentage of total revenue. This revenue from XL increased 7.34 percent on an annual basis from Rp. 634.4 billion.

Then, the next customers are PT Hutchison 3 Indonesia for Rp410.1 billion, PT Telekomunikasi Selular for Rp352.8 billion, and PT Indosat Tbk. (ISAT) amounting to Rp307.9 billion. SUPR recorded a gross profit of Rp1.47 trillion, up 24.4 percent compared to Rp1.18 trillion yoy. Likewise, the operating profit of the cash company increased 32.85 percent from Rp. 959.9 billion to Rp. 1.27 trillion.

Despite the increase in revenue items, Solusi Tunas Pratama recorded a loss attributable to owners of the parent company of Rp68.9 billion in 2021, from a net profit of Rp189.6 billion in 2020. This net loss was caused by a net loss from cash flow hedges of Rp478, 5 billion in 2021, which is not the case in 2020.

Meanwhile, throughout 2021, SUPR recorded total assets of IDR 11.63 trillion, up from the end of 2020 of IDR 11.15 trillion. The company's total liabilities decreased to IDR 8.4 trillion at the end of December 2021, from IDR 9.34 trillion at the end of December 2020.

Meanwhile, Solusi Tunas Pratama's total equity increased to IDR 3.2 trillion at the end of 2021, from IDR 1.8 trillion at the end of 2020.