Bukalapak Posts Rp 863 Billion in Revenue in the First Half of 2021

PT Bukalapak.com Tbk (BUKA) reported revenue of Rp 863.62 billion in the first half of 2021. This represents a 34.67% increase compared to the same period last year, which was Rp 641.28 billion.

Bukalapak's revenue primarily comes from its marketplace, amounting to Rp 529.18 billion. This figure shows a 4.42% growth compared to the same period last year, which was Rp 506.77 billion.

The next significant increase comes from partner revenue in the first six months of this year, which surged by 349% to Rp 289.81 billion. However, revenue from BukaPengadaan dropped by 36.29% to Rp 44.62 billion.

Meanwhile, several of Bukalapak's expense items have increased. The corporation still recorded an operating loss of Rp 776.16 billion until June 2021. However, this operating loss decreased by 24.85% compared to the first half of 2020, which reached Rp 1.03 trillion.

The largest expense that eroded Bukalapak's profit was sales and marketing expenses, amounting to Rp 881.73 billion in the first half of 2021. This expense increased by 14.64% compared to the same period last year, which reached Rp 769.13 billion.

Another significant expense is general and administrative expenses, which reached Rp 659.09 billion in the first six months of this year. Bukalapak managed to reduce this expense by 22.55% from Rp 850.94 billion in the first half of 2020.

The next expense item is cost of revenue, amounting to Rp 118.05 billion until June 2021. Based on the financial report, the cost of revenue increased by 69.92% from the same period last year, which was Rp 69.47 billion.

Furthermore, Bukalapak recorded a total processing value (TPV) of Rp 56.7 trillion in the first half of 2021. This value grew by 54% from the same period last year, which was Rp 36.8 trillion. This TPV growth was supported by a 15% increase in the number of transactions and a 34% increase in the average transaction value (ATV).