JAKARTA - PT Arwana Citramulia Tbk (ARNA) booked net profit of IDR 445.29 billion throughout 2023, down 22.72% from 2022 net profit of IDR 581.55 billion. Profit decline went hand-in-hand with 5.38% slippage in net revenue.

As quoted from 2023 Financial Report today (23/2), ARNA’s sales were recorded at IDR 2.44 trillion, dropping from IDR 2.58 trillion. Costs of sales reportedly swelled, impacting gross profit that decreased from IDR 1.05 trillion to IDR 904.20 billion.

The sales were mostly generated by a related party, PT Catur Sentosa Adiprana Tbk (CSAP), which amounted to IDR 1.75 trillion or equal to 71.72% of ARNA’s total sales. Sales in Java Island clocked up to IDR 1.43 trillion, and sales outside Java were IDR 1.01 trillion.

In terms of business lines, distribution segment reported sales of IDR 2.35 trillion, followed by industrial segment of IDR 94.87 billion. In 2022, distribution segment managed to turn in IDR 2.46 trillion of sales, while industrial segment contributed IDR 125.63 billion. (LK/ZH)