Jakarta, August 31, 2021 – PT Cashlez Worldwide Indonesia Tbk (Cashlez), the first payment financial technology company listed on the Indonesia Stock Exchange with the stock code CASH, posted a consolidated net income of Rp 58.8 billion in the first semester of 2021. This realization grew by 298.5% or almost 3 times compared to the same period last year, which was Rp. 14.7 billion.
The increase in net income was accompanied by a 108% growth in gross profit or gross profit to Rp 17.9 billion. President Director of Cashlez, Suwandi said, the positive growth was supported by several Company strategies ranging from collaboration, transformation and technological innovation to optimizing products and services.
"During this pandemic, Micro, Small and Medium Enterprises (MSMEs) are one of the sectors that have been significantly affected, but on the positive side there is an acceleration in the use of digital technology by MSMEs in penetrating the digital market in Indonesia. For this reason, Cashlez is ready to help and support MSMEs facing the impact of the Covid-19 pandemic by providing a platform that can help process consumer payments digitally from various types of payments, either through cards (credit cards & debit cards) or through digital (QRIS, Virtual Accounts, & e-wallet) in one platform.” said Suwandi.
Until the end of June 2021, there were 13.6% of new merchants joining Cashlez, who came from various segments, including Sentul City Clean Market, New Market Storefront Bandung, Brown & Spirits and Pass Swab.
In addition, the company also continues to develop the current platform into all digital ecosystems, not only on the payment platform, but also on the funding platform for merchants and consumers. From the merchant side, Cashlez is currently collaborating with several lending providers such as Commonwealth Bank, Duha Syariah and KoinWorks to help business people get funding. Meanwhile, from the consumer side, Cashlez has been able to process installment payments or commonly known as PayLater as an alternative payment for consumers during this pandemic.
Maintaining a healthy capital structure to maintain profitability
The Company’s total assets until the end of June 2021 reached Rp 165.34 billion, with total liabilities of Rp 57.1 billion, while the Company’s Equity was at the level of Rp 108.28 billion. The Company will continue to strive to maintain an optimal capital structure in order to support sustainable business growth.
For the main performance driver of the Company in undergoing the second semester of 2021 which is still overshadowed by economic instability due to the impact of the Covid-19 pandemic, Suwandi explained, Cashlez has prepared several new strategies to carry out a ’quantum leap’, both in terms of organic growth and organic growth. inorganic growth.
"We will continue to monitor the development of the Covid-19 pandemic and continuously evaluate its impact on the company. On the other hand, we are also preparing several new strategies to maximize sustainable business growth in the long term.” said Suwandi.