Blibli has enhanced its net income by 16% YoY in the first half of 2023, driven by increased performance in the Retail 3P and 1P segments.
Heaptalk, Jakarta — PT Global Digital Niaga Tbk (BELI) has noted its net income at Rp509 million, or approximately Rp7.7 trillion, enhancing 16% year-on-year (YoY), in the first half of 2023 (H12023).
This enhancement was driven by increased performance in the Retail 3P and Retail 1P segments. As it is known, Retail 1P is a B2C trading platform segment for various products and services from first parties, which takes a majority portion of US$257 million in the first semester this year.
Meanwhile, Retail 3P is the sales segment of products and services from third parties, including e-commerce platforms and online travel agents (OTA), which elevates up to 710% with its contribution of US$37.5 million.
Co-Founder and CEO of Blibli, Kusumo Martanto, revealed that financial performance in the first half of 2023 had generated a positive trend. However, he will continue implementing various business strategies to improve profitability performance.
“A robust performance enhancement in the lifestyle category was supported by the recovery of the online travel business after the restrictions reopening due to the pandemic in the country. We will focus on customer requisites with the product categories preference that make us different from competitors,”
The company also cut its losses by 29.7%, approximately US$112 million in semester 1, 2023, compared to the previous loss of US$158 million in a similar period in 2022. Decreased selling expenses and an improved cost structure have reduced the company’s loss.
This Djarum-backed company also managed to enhance the performance of its operations by resulting in a better cost structure, as shown by the lower percentage of consolidated operating expenses towards its Total Processing Value (TPV) of 7.7% in the second quarter of this year, compared to the previous outcome of 11.5% in the same quarter of 2022.
To retain its business growth, CEO Kusomo affirmed his party would continue to amplify its omnichannel strategy by augmenting 14 consumer electronics outlets during the first half of 2023. Besides, the company would also build its all-in-one-tech-powered warehouse to enhance operations performance, equipped with storage automation, supply chain distribution, and direct delivery to the final consumer.
