AKRA Posted Very Strong Net Profit growth of 30% for the Period FY20

JAKARTA, 25 March’ 2021 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ) has reported very strong performance in 2020.    The Net Profit is up 30% compared to 2019, at Rp925bn.   Operating Profit is up 15% to Rp1,258bn and Net Operating Cashflow is up 62% at Rp1,067bn.  Balance sheet has become stronger with Net Gearing down to 22%.   

Mr. Haryanto Adikoesoemo, President Director of AKRA stated, “Our outstanding performance in 2020 demonstrates our strong business model that delivers  consistent performance even during challenging periods.  Our investments in storage facilities in key ports, logistic network and IT platform allow us to deliver products to our customers on-time, without disruption.  With our operational efficiencies, we increased our Operating Margins in 2020 to 7.1%, from 5% in 2019 and our Net Margins to 5.2% from 3.3%.

He added, “AKR has invested Rp7trn in the last 5 years to support in improving Indonesia’s logistic infrastructure and connectivity.  The return on our investments will support double digit profit growth in future also.  These investments include Java Integrated Industrial Port Estate (JIIPE) that is already contributing to our profitability.   JIIPE offers many unique advantages like deep-sea port, in-house utilities and services and availability of permits and licenses.   Together with KEK status and Job Creation Law, JIIPE will attract a large number of investors.”  

Mr. Haryanto Adikoesoemo concluded with an upbeat outlook for 2021, “We have already booked land sale of 14ha in March 2021.   This will significantly boost our Q1 2021 profitability.   AKR has been paying regular, healthy dividends to its shareholders to appreciate their support, and this will continue in future also.”

AUDITED FINANCIAL RESULT

The Company reported the audited financial results for the year ended 31st December 2020 to Indonesian Stock Exchange today with the following key figures;