Sales of PT Pan Brothers Tbk (PBRX) decreased in the first semester of 2022. This textile and garment issuer posted sales of USD296 million or equivalent to Rp4.5 trillion (Jisdor exchange rate of Rp15,232 per US dollar). This sales decreased by 1.59% from USD300 million in semester I/2021. Geographically, the company's sales were dominated by exports of USD275.7 million. Meanwhile, local sales of PBRX reached USD20.6 million. Then the company's export sales were mostly in the Asian region, with a total value of USD133.9 million, followed by USD83.7 million in America and USD54.7 million in Europe.

Meanwhile, the company's biggest customers in the first semester of 2022 were Adidas Sourcing Ltd with sales reaching USD62.9 million and Uniqlo with sales amounting to USD26.5 million.

By segment, the company's garment sales dominated, reaching USD285.8 million. The company's textile sales amounted to USD 10.19 million during the first semester of 2022. When sales decreased, PBRX's cost of goods sold increased 0.21% to USD262.2 million, from USD261.6 million. This caused the company's gross profit to fall by 13.5% from USD39.1 million to USD33.7 million in the first of 2022.

Likewise, profit attributable to owners of the parent company fell to USD3.38 million, from USD11.6 million yoy. The net profit fell significantly 70.91% year-on-year. As for the end of June 2022, PBRX recorded total assets of USD704.4 million, an increase from USD696 million at the end of 2021.

PBRX's total liabilities rose to USD409.2 million at the end of semester I/2022, from USD405.4 million at the end of 2021. Meanwhile, the company's total equity rose to USD295.2 million on June 30, 2022, from USD291.2 million on December 31 2021.

This year, the company is optimistic that sales will grow by 10 percent compared to sales realization in 2021. This increase in sales will also be followed by automation and digitization efforts at the PBRX factory. Director of Pan Brothers, Fitri Ratnasari Hartono, once said that the current Pan Brother factory capacity reaches 117 million pieces per year and there will be no changes in 2022.

“Although the capacity is still the same, we continue to carry out automation and digitization so that the output can increase. So we made changes to some machines that could be automated. But so far we have no physical plans to build a new factory or a new location,” he said.