JAKARTA. PT Bakrie & Brothers Tbk. (BNBR) recorded revenue increase of 52.16% year-on-year (yoy), arriving at IDR 3.62 trillion in 2022. The steel pipe manufacturing segment remained the highest contributor of the revenue.

Roy Hendrajanto M. Sakti, Director of Finance, mentioned that the contribution of PT Bakrie Pipe Industries (BPI) to the revenue in 2022 was IDR 2.06 trillion, rising 93.1% yoy from IDR 1.06 trillion. BPI’s revenue soared as the demand from the general market rose IDR 578.5 billion, from IDR 706 billion in 2021 to IDR 1.28 trillion in 2022.

“The steel pipe manufacturing segment became the primary drive behind our revenue surge this year, consisting IDR 994 billion increase from BPI and IDR 76 billion rise from PT South East Asia Pipe Industries (SEAPI),” Sakti confirmed. In the bottom line, BNBR managed to record 317.93% yoy increment in its net profit attributable to the parent entity, rising from IDR 63.67 billion in 2021 to IDR 266.13 billion in 2022.

Anindya Novyan, President Director and CEO of Bakrie & Brothers, mentioned that this positive performance resulted from several strategic projects initiated by the company alongside its business units. “The manufacturing sector is one of the main contributors, aside from the automotive sector, in which includes revenue from electric bus sales of PT VKTR Teknologi Mobilitas,” he explained in the press release issued Friday (3/3).

According to Sakti, the positive performance is expected to continue as BNBR is currently handling several projects, including electric buses and motorcycles specifically developed by VKTR. There are also other projects, such as new and renewable energy project and the development of 3D printing construction technology. (AM/ZH)