GREAT PERFORMANCE IN Q3 2021, BEBS NET PROFIT RECORD OF 350% INCREASE YEAR ON YEAR

November 1, 2021

Subang, 1/11/2021 - PT Berkah Beton Sadaya Tek (BEBS:IDX) recorded an increase in net profit in the third quarter of 2021, and consistently posted a triple-digit increase in profit year on year (YoY). In its financial report as of September 30, 2021, BEBS recorded a net profit of Rp 75.04 billion, a 350% increase as compared to September 30, 2020 with a net profit of Rp 16.66 billion.

Quoted from the information disclosure on the Indonesia Stock Exchange (IDX), BEBS recorded a revenue of Rp 334 billion, an increase of 255% as compared to the same period the previous year of Rp 94 billion. The company’s revenue consisted of sales of materials and ready mix concrete.

BEBS also recorded an increase in the cost of sales in there quarter of 2021 to Rp 232.22 billion as compared to the same period the previous year of Rp 66.16 billion. Gross profit rose to Rp 102.38 billion from the previous Rp 27.84 billion. General and administrative expenses rose to Rp 5.2 billion from the previous Rp 4.8 billion. Meanwhile, the company’s financial charges was reduced to Rp 951 million from the previous Rp 1.65 billion.

BEBS also recorded an increase in operating profit. BEBS operating profit increased from Rp 21.3 billion in September 2020 to Rp 96.1 billion in September 2021. BEBS recorded an increase in totals assets of Rp 814 billion compared to 2020 of Rp 460 billion. In the case flow statement, net cash from operating activities was Rp 137.85 billion.

BEBS president director Hasan Muldani commented that the improving economy along with the drastic decline in COVID-19 cases and the easing of PPKM contributed to BEBS' improved performance compared to the previous year. "Followed by the easing of the PPKM and approaching the end of the year, contractors are gearing up for their infrastructure projects to be completed before the turn of the year."

Hasan also commented that he is optimistic that if these conditions can be maintained for the rest of 2021, the economy will improve and have a positive impact on BEBS asset growth and performance. "We are optimistic that if the current conditions can be maintained, the economy will continue to improve and have a positive impact on BEBS's growth and performance,”.