JAKARTA. The net loss of PT Global Digital Niaga Tbk (BELI) or Blibli in 2022 worsened 65.16% year-on-year (yoy) to IDR 5.50 trillion from IDR 3.33 trillion seen in 2021.

On the other hand, the financial report of this Djarum Group company showed 72.42% surge in its revenue from IDR 8.85 trillion in 2021 to IDR 15.26 trillion in 2022. The online retail segment contributed IDR 10.42 trillion to the revenue, followed by physical stores of IDR 3.58 trillion and institutions of IDR 2.47 trillion.

However, the success in raising its revenue should be paid with the swell of cost of revenue of up to 70%, shifting from IDR 8.27 trillion to IDR 14.04 trillion. On top of that, selling expenses were also seen increasing to IDR 2.89 trillion, while the general expenses rose to IDR 3.37 trillion, and financial expenses to IDR 277.33 billion.

At the end of te period, Blibli should deal with a net loss that proliferated 65.16% yoy to IDR 5.50 trillion, as well as the loss per attributable share that shifted from IDR 51 to IDR 53. Then, Blibli recorded a drastic decline in its liabilities from IDR 8.3 trillion to IDR 3.59 trillion, following its recent debut through initial public offering (IPO). After its IPO, IDR 5 trillion of the total IPO proceeds, amounting to IDR 7.7 trillion, are utilised to pay back its loans. (AM/ZH)