JAKARTA. In the first half (1H) of 2020, PT Semen Baturaja Tbk (SMBR) recorded a net loss of Rp 137.62 billion, mainly due to lower revenue and higher expenses.
In the first semester of 2020, SMBR booked a revenue of Rp 671.82 billion, 19.4% lower than its record in 1H 2019. Sales of packaged cement to third parties contributed 88.5% (Rp 594.89 billion) or 88.5% of the company's total revenue, followed by bulk cement (Rp.62.85 billion), and other sales (Rp.2.27 billion).
SMBR also recorded revenue from transportation services (Rp 2.55 billion). Meanwhile, revenue from related parties only came from sales of white clay (Rp 9.25 billion).
The company recorded an increase in a number of expenses, such as selling expenses which rose by 19.8% to Rp 149.55 billion. Its general & administrative expenses also rose by 3.4% to Rp 125.1 billion. (AM/AR)