JAKARTA. PT Hatten Bali Tbk (WINE), a wine manufacturer based in Bali, booked net profit of IDR 42.4 billion throughout 2023.

This number is 99% higher compared to the net profit of WINE in 2022, in which the company only recorded net profit of IDR 21.23 billion. For the record, WINE is a company that was recently listed as stock exchange member in January 2023.

According to the annual financial report, WINE’s profit growth in 2023 was supported by its sales that managed to reach IDR 253.67 billion. Its sales also soared 33.9% year-on-year (yoy).

WINE’s other income was also doubled in 2023, amounting to IDR 3.31 billion. In addition, the company managed to lower its financial expenses by up to 34.7% yoy, as well as other expenses by up to 16.5% yoy.

According to the data compiled by IDNFinancials, wine was still the primary contributor in the company’s sales in 2023, with total gross sales of IDR 246.6 billion. Meanwhile, gross sales of arak (traditional liquor) were recorded at IDR 19.16 billion, followed by other products of IDR 1.64 billion.

Based on geographical region, Bali remained as the primary market of WINE’s sales in 2023, with sales contribution of IDR 22837 billion. Meanwhile, sales outside Bali were only IDR 25.19 billion.

WINE’s total assets at the end of 2023 were recorded at IDR 384.45 billion, while total equity clocked up to IDR 266.78 billion. (KR/ZH)