JAKARTA - The paint producer of conglomerate Hermanto Tanoko, PT Avia Avian Tbk (AVIA) posted a profit for the year attributable to the parent company of Rp385 billion in the first quarter of 2022. This achievement decreased by 15 percent compared to the same period last year of Rp454 billion.
The decline in the net profit of the Avian brand paint producer is inseparable from the weakening of net sales by 9.4 percent to Rp. 1.6 trillion from Rp. 1.8 trillion. Even though the cost of goods sold decreased from Rp986 billion to Rp970 billion, the company's operating profit still fell to Rp408 billion from Rp570 billion.
Judging from the sales of the customer category, it was still dominated by contributions from third parties of Rp. 1.6 trillion and related parties of Rp. 9.1 billion. Meanwhile, in terms of products, the company's net sales until the first quarter of 2022 came from architectural solutions of Rp. 1.3 trillion and merchandise of Rp. 297 billion.
As for sales based on distribution network, distribution alone contributed Rp1.4 trillion, third party distributors Rp225 billion, and direct sales amounted to Rp6.1 billion so that total net sales reached Rp1.6 trillion compared to the previous year's sales of Rp1.8 trillion.
"Sales through distributors themselves are sales made through PT TKTW as a subsidiary and PT TKBI as a subsidiary of PT TKTW to customers. Sales through third party distributors are sales made through company distributors. While direct sales are sales to traditional or retail stores, " explained Avian's management in an official statement, quoted on Sunday, May 8.
Until the first three months of 2022, Avian's total assets rose slightly to IDR 10.9 trillion from the previous IDR 10.8 trillion. This is inversely proportional to Avian's total liabilities, which decreased from Rp 1.4 trillion to Rp 1.2 trillion.
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