PT Hatten Bali (WINE), a Bali-based vineyard operator and winery recorded a net profit of Rp. 42 billion for 2023.
PT Hatten Wine was established in 1994 and now produces ten wine products using both domestic grapes grown in Bali and juice extracted from premium Australian grapes. Hatten’s vineyards are located in the villages of Seririt dan Sanggalangit in North Bali.
The Rp. 42 billion net profit represents a 100% increase from the Rp. 21 billion profit booked in 2022.
Quoted in Kompas.com, the Company’s CEO, Ida Bagus Rai Budarsa, said the increase in net profit is linked to increased sales following the COVID-19 pandemic. In a press release, Rai added, “After lifting (post-COVID) tourism restrictions in Bali, visits to Bali that had stalled during the pandemic exploded in 2023, seeing our sales exceed all expectations.”
Total revenues from Hatten Wine sales in 2023 totaled Rp. 253.67 billion, an increase of 34% compared to 2022 sales of Rp. 189.38 billion.
The wine producers are optimistic about the future, projecting that 2024 will see wine demand return to normal pre-pandemic levels. “What’s more, we are excited about the potential for our sales to continue growing year-on-year. We are targeting a 30% increase in wine sales outside Bali, surpassing the current 20% growth rate,” said Ida Bagus Rai Budarsa.
Bali is targeting 7 million foreign tourists for 2024, an increase in arrivals of 30% over 2023 totals when 5.3 million foreign travelers came to Bali. In 2019,
Hatten is a successful brand sold in 20 major cities across Indonesia, on Sumatra, Java, and Kalimantan islands. Sulawesi, East Nusa Tenggara, and Papua.
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