Netizen Journalist

Bukalapak Boss Explains Ways to Improve Financial Performance

Holiday Ayo - PT Bukalapak.com Tbk (BUKA) estimates that the company will still experience a loss of minus income, interest, depreciation, amortization and taxes (EBITDA) of IDR 1.4 trillion - 1.5 trillion this year.

Until the end of March 2022, Bukalapak recorded revenue of IDR 788 billion, from a total transaction or Total Processing Value (TPV) of IDR 34.1 trillion. Then, there is a minus EBITDA adjustment of IDR 372 billion.

As cited from idntimes.com, the EBITDA adjustment was made on the basis of the Statement of Financial Accounting Standards (PSAK), because the company invested in Allo Bank.

"Given that the item is not an operating item, we have adjusted EBITDA to get a more accurate picture of the company's operations," said Bukalapak President, Teddy Oetomo at the Bukalapak Public Expose which was held virtual, Wednesday (29/6).

Even so, Teddy said the company already has a strategy to reduce the minus EBITDA projection.

"If we look at the company's progress during this year after the first 3 months and also the process of the last few months, if from June to December we can maintain this adjusted EBITDA level at the same position as in May, it will look likely for a lower EBITDA. adjusted to be better than minus IDR 1.4 trillion," said Teddy.

In addition, the company will also continue to expand its revenue volume, so that it can score a positive contribution margin.

"And continue to grow the volume of revenue so that it can mathematically cover the G&A of the company and bring adjusted EBITDA to a positive realm," said Teddy.

Teddy himself admits that Bukalapak is not pursuing a position as the dominant marketplace player in the country. However, in order to make a profit, Bukalapak will focus on pursuing promising businesses.

"We will continue to prioritize this strategy, focusing on how we can continue to obtain promising verticals and categories that can provide a take rate and monetization path so that we can continue to bring the company as a whole as well as a marketplace segment for the path to profitability," he said.

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