PT Surya Semesta Internusa Tbk (SSIA) projects revenue growth this year to be around 15%.

VP Head Investor Relations of SSIA, Erlin Budiman, said, until the first quarter of 2021, the company posted consolidated revenues of Rp447.1 billion or 49.3% lower than the same period last year which reached Rp882 billion.

This decrease was mainly due to construction and hospitality revenues, which fell by 47.7% and 78.5%. Meanwhile, SSIA's property business segment revenue increased by around 12.2%.

Ebitda also weakened by around 105.8% YoY to Rp3.7 billion from Rp64.1 billion, due to a 413.2% decline in hotel EBITDA.

As a result, the company suffered a consolidated net loss for the first three months of this year of around Rp 78 billion from the same period last year, making a net profit of Rp17.4 billion. In addition, the company posted a decrease in operating profit of around 141%.  There was also an increase in interest expense of about 6.