Sunday, 05 April 2020 | 15:13 WIB

Surya Semesta Internusa Revises Up Revenues Target to IDR4.1 Tln

Surya Semesta Internusa Revises Up Revenues Target to IDR4.1 Tln (special)

JAKARTA, NETRALNEWS.COM - Supported by sustainable growth in the construction sector business, PT Surya Semesta Internusa Tbk (IDX:SSIA) has revised its 2019 revenue target to IDR 4.1 trillion. At the beginning of the year, the company set its revenues target at IDR3.9 trilion.

"Our revenue target of IDR3.9 trillion was set earlier at the beginning of the year. Currently we are targeting revenue in 2019 to reach IDR4.1 trillion," said Erlin Budiman, Head of Investor Relations at Surya Semesta Internusa in Jakarta on Monday (30/9/2019).

In the first half of this year, the company obtained revenues of IDR1.81 trillion, an increase from IDR1.52 trillion in the same period last year.

Erin explained that the reason the company was able to obtain revenues of IDR4.1 trillion was due to the acquisition of contracts by its subsidiary PT Nusa Raya Cipta Tbk (NRCA), which is estimated to touch a minimum of IDR3 trillion throughout 2019.

"The construction segment continues to improve, and the property segment will be better," she said.

According to her, SSIA's business focus consists of three business units, namely property, construction and hospitality. In the first semester 2019, the company obtained net loss of IDR34 billion, or lower than the loss in the same period in 2018 of IDR56 billion.

In Semester I-2019, the property segment contributed eight percent of total revenues or IDR141 billion, the construction segment contributed 72 percent or IDR1.31 trillion, while the hotel business unit contributed 20 percent or IDR362 billion.

Erlin continued that in the second semester of 2019, the property segment will experience an increase in contribution to the total revenue targeted to reach Rp. 4.1 trillion. SSIA management projects that the contribution of the property segment can be around 15-16 percent.

To note, the company's business strategy going forward will focus more on construction and construction development, land acquisition to achieve optimal and sustainable profits, diversification of products and segments, and sustainable geography.

SSIA also seeks to grow recurring income through the hospitality, warehousing and commercial property business units.