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

February 20, 2024, 03.20 AM | Reporter: Dimas Andi

ILUSTRASI. Workers are carrying out the process of making ceramics at PT Arwana Citra Mulia Tbk which is located in Cikande, Serang, Banten (20/2). This local ceramic factory had a production capacity in 2012 of around 41.37 million M2 per year from a total of 3 factories located in Serang, Tangerang and Surabaya. In 2013, production capacity will increase to 49 million M2 per year with the start of production at a new factory in Palembang which will soon be operational. KONTAN/Muradi/2013/02/20

CORPORATE STRATEGIC - JAKARTA. The ceramic manufacturer issuer, PT Arwana Citramulia Tbk (ARNA) experienced a decline in financial performance in 2023.

Quoting the financial report on the Indonesia Stock Exchange (IDX), ARNA's net sales decreased by 5.41% year on year (YoY) to IDR 2.45 trillion at the end of 2023, from previously IDR 2.59 trillion at the end of 2022.

This decrease occurred simultaneously with an increase in ARNA's cost of goods sold by 0.65% YoY to IDR 1.54 trillion in 2023. In the previous year, ARNA's cost of goods sold was recorded at IDR 1.53 trillion.

ARNA's sales expenses also swelled by 15.19% YoY from IDR 215.98 billion in 2022 to IDR 248.78 billion in 2023. ARNA also recorded an increase in financial expenses by 41.64% YoY from IDR 7.66 billion in 2022 to IDR 10.85 billion in 2023.

By the end of 2023, the net income for the year attributable to the parent entity ARNA was recorded at IDR 445.29 billion. This figure shrunk by 22.72% YoY compared to the company's net income in the previous year, which was IDR 576.21 billion.

ARNA had total assets of IDR 2.62 trillion at the end of 2023 or an increase of 1.55% YoY compared to the company's total assets in 2022 valued at IDR 2.58 trillion.

ARNA's total assets in 2023 consisted of liabilities of IDR 765.46 billion and equity of IDR 1.86 trillion.