After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

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Erlina Fury Santika 04/04/2023 20:30 WIB

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Smartfren finally escaped its loss-making status after earning Rp1.06 trillion at the end of 2022. This is a major record.

Net Profit/Loss of PT Smartfren Telecom Tbk (2015-2022)

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After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

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Net Profit/Loss of PT Smartfren Telecom Tbk (2015-2022)

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PT Smartfren Telecom Tbk finally recorded a record profit after years of losses. The telecommunications company owned by Sinar Mas Group reported a net profit attributable to the parent entity of Rp1.06 trillion at the end of 2022.

Compared to the previous year's net profit, the company, with the stock code FREN, suffered a loss of Rp435.32 billion in 2021. In 2020, the loss was even greater, reaching Rp1.52 trillion.

According to its financial statements, the significant increase stems from investment gains totaling Rp1.64 trillion. In 2021, this gain was only Rp118.73 billion.

Smartfren holds shares in PT Mora Telematika Indonesia Tbk, which was listed on the stock exchange in August 2022.

As reported by *CNBC Indonesia*, Merza Fachys, President Director of Smartfren, stated that for the first time, the company's financial reports were recorded in "blue ink."

"In Smartfren's history, this is the first profit in 20 years. No more red, finally blue," said Merza on Monday (April 3, 2023).

Operational revenue reached Rp11.2 trillion in 2022, up from Rp10.45 trillion in 2021.

FREN's assets reached Rp46.50 trillion, with liabilities of Rp30.73 trillion and equity of Rp15.76 trillion.

The company serves 32 million mobile users and plans to expand its network with a budget of Rp1.5 trillion in 2023.

The following shows the history of losses and profits recorded by PT Smartfren Telecom Tbk:

* 2015: (Rp1,565,410,000,000)
* 2016: (Rp1,974,434,000,000)
* 2017: (Rp3,022,600,000,000)
* 2018: (Rp3,532,516,000,000)
* 2019: (Rp2,187,720,000,000)
* 2020: (Rp1,523,591,000,000)
* 2021: (Rp435,329,110,150)
* 2022: Rp1,064,229,467,417

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

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After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

After Suffering Losses, Smartfren Finally Achieves Rp1.06 Trillion Profit at the End of 2022

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