JAKARTA – PT Prodia Widyahusada Tbk (PRDA) has consistently distributed dividends in the 2022 fiscal year of IDR 237.9 per share, despite recording a decline in revenue and profit due to normalization after the COVID-19 pandemic.

Based on the presentation by Dewi Muliaty, President Director of Prodia during the Prodia's 2023 Annual Public Expose today (14/4), the company's revenue decreased by 17.7% year-on-year (yoy) in 2022. "This is due to normalization after an unusual increase in demand during the pandemic (2021), "she added.

Revenue, which fell from IDR 2.65 trillion in 2021 to IDR 2.18 trillion in 2022, also hampered profit growth. Revenue normalization caused PRDA's net profit to fall by 40.4% yoy, eroded from IDR 623.2 billion to IDR 371.6 billion at the end of 2022.

Despite the decline in profit and revenue, PRDA's Annual General Meeting of Shareholders today (14/4) decided to continue to allocate 60% of net profit for the 2022 financial year as cash dividends, or the equivalent to  IDR 222.98 billion.

For the record, if you ignore the unusual achievements during the pandemic (2020-2021), PRDA has indeed posted a solid trend of revenue and profit growth. Revenues and profits in 2019 only reached IDR 1.74 trillion and IDR 210.3 billion. In addition, the CAGR (Compound Annual Growth Rate) of PRDA's revenue and net profit until the 2022 financial year was recorded at 8.3% and 19.8%. (ZH/LM)