Soaring Income, Yelooo Integra Turns Loss into Profit in 2021
PT Yelooo Integra Datanet Tbk (YELO) recorded an increase in revenue of IDR 500.1 billion in 2021. This figure increased by 212% from the previous year’s revenue of IDR 159.9 billion.
The company also pocketed a gross profit of IDR 15.5 billion, an increase of 1,309% from the previous IDR 1.1 billion. Then, YELO recorded a net profit for the year of IDR 14.7 billion.
This result is much better than the same period the previous year, where the company recorded a net loss of IDR 1.6 billion.
YELO’s President Director, Wewy Susanto said, the positive result came from the contribution of YELO’s revenue from the sale of data packages in the domestic market generated from the company’s subsidiary, PT Abdi Harapan Unggul (AHU), which was acquired at the end of 2021.
Revenue from digital products or data packages was recorded at IDR 499.3 billion, a significant increase of 212% compared to the same period the previous year of IDR 159.9 billion.
“This acquisition step has succeeded in making a positive contribution to the company, so that it is able to reverse the situation from a previous loss in 2020 to a profit in 2021,” Wewy said in his official statement, quoted Tuesday (5/4).
To maintain this positive performance, the company continues to accelerate the expansion of fast and affordable internet services.
This step is part of YELO’s transformation this year as a digital Internet Service Provider (ISP) based on fiber optic cables, which provides fast internet at affordable prices to all corners of villages that stretch across the island of Java.
Optimism Can Lead to Good Performance at the End of 2022
Through the latest service under the name Viberlink, the company is optimistic that it can produce good performance until the end of 2022.
Wewy added that by looking at the opportunities for higher internet needs and government support in developing connectivity in all remote villages on the island of Java, the company is confident that it will be able to continue the positive performance that has been achieved since last year.
Meanwhile, YELO’s business expansion into the digital ISP field began when YELO officially acquired 99% of PT Telemedia Communication Pratama (TKP) shares in early 2022.
This complements YELO’s connectivity business services, starting from local market segments such as internet data, to internet needs abroad, which is believed to be growing as more people travel abroad after the pandemic becomes endemic.
“With the acquisition of this TKP, YELO intends to provide high-speed internet at affordable prices to remote villages throughout Java. Thus, digital economic empowerment activities at the village level can develop faster,” he said.
Yelooo Integra Datanet was founded in 2017 as a communication technology equipment rental service provider named Passpod, which has now developed into a one-stop solution for tourists during their travels.
In trading earlier this week, YELO’s stock price rose 5.31 percent to IDR 119 per share with a market capitalization of IDR 227.62 billion.
Previously, PT Yelooo Integra Datanet Tbk (YELO) or Passpod targeted revenues of IDR 143 billion in the first quarter of 2022. This target increased significantly compared to the same period the previous year of IDR 1.5 billion.
This optimism cannot be separated from the Company’s achievements at the end of last year. Until the third quarter of 2021, YELO still recorded a loss of IDR 19.67 billion. The loss was due to the large cost of goods sold.
However, in the January-September 2021 period, YELO recorded a net income of IDR 13.1 billion, an increase of 495% compared to IDR 2.2 billion in the same period the previous year.
Cost of revenue increased by IDR 30.03 billion in January-September 2021, up from IDR 15.37 billion in the same period in 2020. In the first quarter of 2021, YELO recorded revenue of IDR 1.5 billion but still lost IDR 6, 12 billion.