Bakrie Reports Smaller Net Loss, Ramps Up Sustainable Business Plans

Jakarta. Business conglomeration Bakrie & Brothers, or BNBR, recently reported a smaller net loss in the first semester of 2021, while also ramping up its business plans on sustainable energy and digital technology.

According to BNBR president director Anindya Bakrie, the company is recovering from the Covid-19 pandemic, as it recorded a net loss of Rp 43 billion (about $2.9 million) in the 2021's first half, compared to the Rp 121 billion loss in the same period last year. Whilst BNBR's revenue throughout the first half of 2021 reached Rp 1.038 trillion, down about 21 percent from last year.

Anindya reported the costs of goods sold (COGS) also dropped by 21 percent, compared with the same period last year. BNBR managed to achieve 27 percent efficiency in operating expenses, in comparison to last year's corresponding period.

“Our efforts in efficiency have reaped results," Anindya said in a written statement on Monday.

BNBR is also ramping up its focus on sustainable energy, according to Anindya.

BNBR's automotive subsidiary Bakrie Autoparts is supplying 30 electric bus units for the city-owned bus operator Transjakarta. In a bid to help the Jakarta government's goal of operating 100 electric buses this year, BNBR is committed to add more electric buses onto Transjakarta's fleet.

BNBR's Bakrie Powers recently inked a deal with state-run utility firm PLN regarding the hybrid solar power plant in Parak Village, Selayar, South Sulawesi. PLN is operating about hundreds diesel-powered power plants and thus a huge potential to be converted to renewable energy power plants, Anindya said.

On technology, BNBR information technology subsidiary Multi Kontrol Nusantara (MKN) is providing internet of things (IoT) services for mining, manufacturing and utilities. MKN's revenue soared by a whopping 182 percent in the first half of 2021, compared to last year's same period.

"It is time for us to take a step further. Businesses all over the world are following the sustainable development goals. Digital technology has become the mainstream business worldwide," Anindya said.

"Moving forward, BNBR is committed to develop our sustainable energy and digital business sectors," Anindya said.