Kioson eyes IDR6 billion net profit this year
JAKARTA - PT Kioson Komersial Indonesia Tbk (KIOS), a technology company that focuses on developing MSMEsand grocery stores, targets to achieve positive net profit by the end of 2021. Kioson aims to achieve a net profit around IDR6 billion in 2021. This optimism refers to the achievement in the first quarter of 2021, where the company managed to record a positive net profit. Management is optimistic that the Company can maintain this performance consistently until the end of the year.
Reginald Trisna, President Director of Kioson said "Throughout 2020, Kioson encountereda decline in financial performance due to declining sales as a result ofthe Covid-19 pandemic.Referring to the financial report, Kioson's revenue in the 2020 period decreased by 69% yoy compared to 2019 which reached IDR2.9 trillion. In addition, throughout 2020, Kioson recorded a Net Loss for the year attributable to Owners of the parent entity of Rp 41.6 billion. To overcome this, Kioson has focused throughout this year on business development and perfecting the digital ecosystem that is being built.”
For information, this year Kioson established subsidiaries, such as GudangPintar.id and RetailKita.id. Both will provide more convenience for more than 80 thousand Kioson partners. GudangPintar.id functions as a fulfillment center to facilitate logistics and warehousing processes. Meanwhile, RetailKita.id is a Distribution Hub between partners and FMCG (fast moving consumer goods) producers.
In addition, KIOS also provides digital advertising services to increase partner sales. And last but not least, Kioson collaborates with a number of start-ups and e-commerce as a step to expand its distribution network, one of which is the provision of Smart Warehouses in 1,000 locations by the end of 2022
For information, KIOS lans to take corporate action by increasing capital through Limited Public Offering (PUT) I using Rights Issue (HMETD) scheme. It is planned that KIOS will issue a maximum of 365.79 million new shares with a nominal value of IDR100 per share. The issuance of the new shares will be accompanied by the issuance of Series II Warrants with a maximum amount of 248.73 million Series II Warrants. It is planned that KIOS will seek approval for this corporate action at the Extraordinary General Meeting of Shareholders (EGMS) which will be held on August 24, 2021. (LM)