Acset Indonusa (ACST) Records a Net Loss of IDR 270 Billion in the Year 2023

April 20, 2024, 02.29 PM | Reporter: Venny Suryanto

ILUSTRASI. Construction workers are at a property development project in Jakarta, on Sunday (13/05). The Central Statistics Agency (BPS) released the number of unemployed in February 2018 at 6.87 million people, down from the same period the previous year of 7.01 million people. Meanwhile, the open unemployment rate in February 2018 was 5.13%, down from February 2017 which was 5.33%. KONTAN/Fransiskus Simbolon/13/05/2018

CORPORATE ACTION - JAKARTA. PT Acset Indonusa Tbk (ACST) reported a 40% decrease in losses, amounting to IDR 270 billion in 2023. The company had previously recorded a net loss of IDR 448 billion in the preceding year.

Kadek Ratih Paramita, the Corporate Secretary & Investor Relations of ACSET, stated that the company recorded a consistent decrease in losses in 2023, a 40% drop from IDR 448 billion to IDR 270 billion.

"This is due to a significant increase in net income in 2023 and an improvement in profit margins," Paramita said in a release received by the New York Times on Friday (19/4).

PT Acset Indonusa detailed that the main contributors to ACSET's revenue came from the infrastructure sector at 44%, structure at 33%, and foundation at 23%. The total assets of ACSET in 2023 amounted to 2.6 trillion, an increase of 23.58% compared to 2022. This was followed by a net income of 2.3 trillion, a rise of 126.61% compared to 2022.

In its financial report, the company recorded revenue of IDR 2.34 trillion in 2023, up from the previous IDR 1.03 trillion. The cost of revenue recorded was also IDR 2.38 trillion, resulting in a gross loss of IDR 40.04 billion.