JAKARTA. PT Graha Layar Prima Tbk (BLTZ), the managing company of CGV theatre network, booked a loss of IDR 13.65 billion throughout 2023, continuing the consecutive losses recorded since 2020.

According to IDNFinancials data, BLTZ only scored net revenue of IDR 1.06 trillion in 2023. Its revenue only climbed 0.3% year-on-year (yoy) from IDR 1.05 trillion seen in 2022.

On the other hand, BLTZ managed to carry out efficiency strategies on its operating expenses in 2023. It was seen from the decline of the cost of revenue by up to 4.9% yoy to IDR 615 billion. Then, the selling expenses were cut by 27.7% yoy to IDR 1.43 billion, followed by financial expenses that decreased 3% to IDR 128 billion, as well as losses on foreign exchange that dropped 91% to IDR 2.88 billion.

By business segments, theatre business line remained the primary contributor of BLTZ’s revenue, securing income of IDR 665.87 billion. Then, food and beverage business brought in revenue of IDR 324.3 billion, followed by events and advertisement of IDR 71.19 billion, as well as licenses and management of IDR 100.3 million.

According to IDNFinancials data, losses faced by BLTZ in 2023 were the lowest compared to the previous years. In 2020, the loss was at IDR 445.8 billion, improving to IDR 265 billion in 2021 and IDR 58.87 billion in 2022. (KR/ZH)