JAKARTA. PT Global Digital Niaga Tbk (BELI), an issuer owned by the Djarum Group which oversees the Blibli e-commerce platform to the Ranch Market supermarket, posted a loss of IDR 5.50 trillion in the 2022 fiscal year.

BELI’s losses in 2022 was 65.16% higher compared to the previous year, where the company only suffered a loss of IDR 3.33 trillion in 2021. In fact, the company just held an Initial Public Offering (IPO) of shares in November 2022.

Based on the recently released financial report, the performance of the BELI top-line actually grew positively. This can be seen from the increase in revenue which reached 72.42% in 2022 to IDR 15.26 trillion, from IDR 8.85 trillion in 2021.

However, the increase in BELI revenue in 2022 was followed by high cost of goods which reached IDR 14.04 trillion, 70% higher than the previous year which reached IDR 8.27 trillion. Apart from that, the company's selling expenses also rose to IDR 3.37 trillion in 2022, from the previous year which reached IDR 2.89 trillion.

According to idnfinancials.com data, BELI has raised fresh funds of IDR 7.7 trillion from the IPO. A total of IDR 5.5 trillion from the company's IPO funds has been spent on paying debts and the rest has been allocated for working capital. Currently, the company's remaining IPO funds are recorded at IDR 1.15 trillion. (KR/LM)