BUVA Net Profit Drops 90%, Plans IDR 1.54 Trillion Rights Issue for Debt Paydown and Expansion

BUVA Net Profit Drops 90%, Plans IDR 1.54 Trillion Rights Issue for Debt Paydown and Expansion

PT Bukit Uluwatu Villa Tbk (BUVA), a prominent luxury hospitality and property developer associated with Happy Hapsoro, husband of DPR Speaker Puan Maharani, reported a steep 89.96% year-on-year (YoY) drop in net profit for the first half ended June 30, 2026. According to its latest financial statements, the company booked a net profit of IDR 8.14 billion in 1H 2026, down significantly from IDR 81.12 billion in the same period last year. Consequently, basic earnings per share (EPS) shrank to IDR 0.33 from IDR 3.94 previously. Top-line revenue edged up slightly by 4.71% YoY to IDR 173.95 billion, compared to IDR 166.12 billion in 1H 2025. Cost of goods sold (COGS) decreased subtly to IDR 53.02 billion from IDR 53.45 billion, allowing gross profit to expand to IDR 120.93 billion from IDR 112.66 billion. Operating Expenses & Profitability Breakdown On the operational front, key cost items saw noticeable adjustments: Selling Expenses: Rose to IDR 11.31 billion (vs IDR 10.76 billion). Genera…