PT AKR Corporindo Tbk delivered 40% Increase in Q 1 2022 Net Profit to IDR 428 Billion.
April 26, 2022
JAKARTA,
26 April 2022 – PT AKR Corporindo Tbk (AKRA) Indonesia’s leading logistics and supply
chain company distributing petroleum and
basic chemicals reported strong growth
in Net Profit during Quarter 1’2022 with
40% growth to Rp 428 Billion compared to Rp 305 Billion during same period in previous
year. AKRA's revenue in the first quarter of 2022 rose 98% to Rp 10,134 billion
aided by higher selling prices of petroleum
& basic chemicals and higher sales
volumes.
Key
Performance Highlights for Q1 2022
The strong performance in Q1 2022 was driven by the Trading &
Distribution segment which reported revenue growth of 113% YoY due to growth in
demand for energy and raw materials in mining, manufacturing, and other
segments along with increases in energy and commodity prices which as had a
positive impact in Indonesia.
·
Petroleum Segment revenue
rose 120% YoY to Rp7,530 Billion
·
Chemical Segment revenue
rose 112% YoY to Rp 2,070 Billion
A AKRA's operating profit in the first quarter of 2022 increased 18% to Rp
541 billion with strict cost control and increased efficiency. Operational
expenses and financial expenses remained under control, thereby increasing Net
Profit.
Mr. Haryanto Adikoesoemo, President Director of AKRA stated, “We are
happy to report another strong quarter in Q1 2022. The company was able to
produce a strong performance despite market conditions which were full of
uncertainty due to recent geopolitical conditions and significant volatility in
energy and commodity markets. The Company’s extensive logistics and supply
chain infrastructure along with effective risk management enabled the company to
supply products to consumers on time even in situations of supply chain disruption.
The company managed its working capital effectively and also has a strong Balance sheet as at 31st March 2022
with a cash balance of IDR 2.2 Trillion and net gearing of only 0.06x."
said Mr. Haryanto.
Strong
Balance Sheet with Very Low Net Gearing
The
balance sheet remains strong with total assets of IDR 25,263 billion and Total
equity of IDR 11,726 billion with net gearing remaining very low at 0.06x and
Debt to Equity at 0.25x.
JIIPE
SEZ Industrial Estate Prospects
The
JIIPE integrated industrial estate has received the status of a Special
Economic Zone in 2021. With the recovery of economic conditions and with
integrated and multi modal logistics and utilities facilities at JIIPE, AKRA is
confident to book sales contracts with various investors. During Q 1 2022 JIIPE
successfully recorded sale of one land parcel to an industrial client and
is in the process of negotiation and finalization of other land parcels during
the coming quarters which will significantly contribute to the AKRA’s financial
performance
Annual General Meeting of
Shareholders 2022 (AGMS) – 28th
April 2022
AKRA will conduct AGMS/EGMS on 28 April 2022 to approve various
agenda items including approval of the plan to use the company's net profit for
the 2021 financial year. The company's directors will recommend dividend
payments to shareholders which are expected to be in line with dividend
payments ratio in previous years . The Company has paid dividends above 50% for
the last 5 years. Information related to the AGMS/EGMS along with the 2021
Annual Report and Sustainability Report is available on the company's website
www.akr.co.id
Corporate Secretar
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