FY17 Financial Highlights:
President Director of AKRA, Mr. Haryanto Adikoesoemo, stated;
"In 2017, AKRA continued to strengthen its businesses to grow further in the future. AKRA revenue grew by 20% y/y, supported by improvements in mining industry condition, changes in consumer preferences in the retail fuel segment, and increasing demand for basic chemicals in Indonesia. AKRA underwent a change in its asset and investment portfolio during 2017 to gain strong capital structure. Beside the signing of a sale agreement to divest ownership in Guigang Port during 3Q17, auction of lands belonged to Khalista, AKRA’s unit of sorbitol manufacturing in China, has been successfully held in February 2018. The results of Guigang Port divestment and cash flow from operation, have increased the cash position of AKR as of December 31, 2017. AKR has also successfully implemented several strategic initiatives which had been prepared since the previous year, including JV partnership with BP on retail fuel and aviation. By these initiatives, AKRA plans to focus on the development of main business in domestic market. JIIPE also has showed a significant development during in 2017 and increased its contribution to AKRA consolidated revenue”.
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