JAKARTA - During the first quarter of 2020, PT Acset Indonusa Tbk (ACST) posted revenue of Rp 477.61 billion. This figure decreased by 40.8% compared to the same period last year, which amounted to Rp 806.67 billion.
Based on the contribution of business lines in revenue, the infrastructure sector contributed 45%, construction 36%, foundation 14% and other sectors 5%. During this period, Acset recorded a net loss of Rp 124.44 billion which was contributed by increased costs for delays in the current project and increased financial costs due to the delay in receipt of payment for the pre-financing contractor project (CPF).
Regarding the global pandemic COVID-19, Acset also experienced direct and indirect impacts that were reflected in the company's achievements in the first quarter. Several strategic project tenders that Acset participated in had experienced delays, resulting in a decrease in the number of new contract acquisitions in this period. In response, Acset is always careful and sets priorities in every business decision that will be taken. (LM)