Summarecon Agung (SMRA) Records Profit of IDR 765.96 Billion in 2023

ISSUER NEWS - JAKARTA. PT Summarecon Agung Tbk (SMRA) recorded a profit of IDR 765.96 billion in 2023. This profit up 22% from the profit in 2022.

According to the financial report on the IDX website, SMRA also recorded an increase in revenue last year. SMRA booked revenue of IDR 6.65 trillion last year, up 16.42% from 2022 which was IDR 5.71 trillion.

If detailed, the property development segment contributed IDR 4.04 trillion to SMRA's revenue in 2023. Then, followed by investment property IDR 1.73 trillion and others IDR 876.13 billion.

In the property development segment, third-party home sales contributed the most to SMRA's revenue in 2023, which was IDR 3.06 trillion.

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In the investment property segment, mall and retail assets contributed the most to SMRA's revenue last year. Mall and retail assets from related parties amounted to IDR 50.99 billion and from third parties IDR 1.57 trillion.

In the other segment, third-party hotel assets contributed the most to the Company's revenue last year, which was IDR 415.42 billion.

The cost of goods sold and direct expenses increased by 21.31% to IDR 3.29 trillion in 2023. In 2022, the cost of goods sold and direct expenses were recorded at IDR 2.71 trillion.

As a result, the Company recorded a gross profit growth of 11.99% in 2023. The Company earned a gross profit of IDR 3.35 trillion from the same period the previous year IDR 2.99 trillion.

SMRA's basic earnings per share also increased to IDR 46.40, from the previous year of IDR 37.88.

 

SMRA recorded total liabilities of IDR 18.86 trillion until the period of December 31, 2023, up from IDR 16.68 trillion in 2022. The total equity of the Company was IDR 12.30 trillion at the end of last year, up from IDR 11.75 trillion in 2022.

The total assets of SMRA reached IDR 31.16 trillion until the period of December 31, 2023, up from IDR 28.43 trillion in 2022. Meanwhile, cash and cash equivalents at the end of 2023 amounted to IDR 3.29 trillion.