Arwana Citramulia (ARNA) Sales Decline in 2023: Strategies for Recovery and Growth

February 23, 2024, 04.24 PM  | Reporter: Vina Elvira
Arwana Citramulia (ARNA) Sales Decline in 2023: Strategies for Recovery and Growth

ILUSTRASI. Plt. Direktur Jenderal Industri Kimia, Farmasi dan Tekstil (IKFT) Kementerian Perindustrian, Ignatius Warsito saat meresmikan perluasan pabrik Plant 5B dan Peninjauan Proyek Perluasan Pabrik Plant 5C PT Arwana Citramulia Tbk di Mojokerto, Jawa Timur, Rabu (20/7).

LISTED COMPANY - JAKARTA. Ceramic manufacturer, PT Arwana Citramulia Tbk (ARNA) has released its financial report for the year 2023. The company is observed to have a decrease in performance, both in terms of net sales and net profit. 

Quoting the financial report released on Thursday (22/2), ARNA's net sales were observed to decrease by 5.37% year on year (YoY) to IDR 2.44 trillion in 2023. Whereas, in the previous year, ARNA's net sales still reached IDR 2.58 trillion. 

At the same time, ARNA's cost of goods sold slightly increased by 0.65% YoY to IDR 1.54 trillion last year, compared to IDR 1.53 trillion in 2022. 

Read Also: Sales and Net Profit of Arwana Citramulia (ARNA) Decline in 2023

Therefore, ARNA had to record a decrease in gross profit by 14.06% YoY to IDR 904.20 billion in 2023. 

ARNA was also observed to bear an increase in sales expenses by 13.18% YoY, from originally IDR 215.97 billion in 2022, to IDR 248.77 billion in 2023. 

On the contrary, general and administrative expenses were successfully reduced by 2.53% YoY. The figure decreased to IDR 92.12 billion from the previous year's IDR 94.43 billion. 

By the end of the 2023 period, ARNA recorded a net profit for the year attributable to the parent entity or net profit of IDR 445.29 billion. Unfortunately, the net profit last year decreased compared to 2022 which reached IDR 576.21 billion. 



Editor: Syamsul Azhar

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