JAKARTA - PT Sky Energy Indonesia Tbk (JSKY) revenue at the end of 2019 was recorded Rp 382.76 billion. This figure was down by 9.87% compared to the achievements in the previous year amounting to Rp 424.70 billion.
Based on JSKY's financial statements ending on December 31, 2019, the decline in revenue was driven by the decrease in contributions from the solar panel segment from Rp 226.72 billion in 2018 to Rp 123.94 billion in 2019. In addition, contributions from LEDs and supporting products also dropped respectively Rp 9.88 billion and Rp 1.15 billion, respectively.
On the other hand, the contribution from the battery and solar system segment increased to Rp 134.14 billion and Rp 106.83 billion at the end of 2019. Sales in the local market rose from Rp 275.55 billion in 2018 to Rp 285.07 billion at the end of 2019. Meanwhile the contribution from export sales decreased 35.2% on an annual basis to Rp 97.69 billion.
In line with the decline in revenue, JSKY's cost of goods sold also dropped to Rp 293.75 billion. However, the company could not press its sales and finance expenses in 2019. As a result, the company's net profit in 2019 declined by 40.9% to Rp 13.99 billion compared to the achievement in 2018 of Rp 23.70 billion. (LM)