PT. AKR Corporindo, Tbk

AKRA Maintained Growth Momentum in Q1 2020, with Net Profit growth of 13% at Rp228 billion

April 28, 2020

JAKARTA, 28 April 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), distributor BBM, bahan kimia dasar dan penyedia layanan Logistik & supply chain di Indonesia melaporkan Laba Neto periode Berjalan yang dapat diatribusikan kepada Pemilik Entitas Induk sebesar Rp228 Miliar selama Q1 2020 (tumbuh 13% y/y). Pertumbuhan didukung oleh +29% pertumbuhan Laba Bruto y/y tercatat sebesar Rp558 Miliar, dan 32% pertumbuhan Laba Usaha sebesar Rp339 Miliar. Bisnis Perdagangan dan Distribusi yang stabil serta pendapatan dari Kawasan Industri berkontribusi pada Kinerja Perseroan. 

The Company reported the consolidated financial results for the period ended 31st March 2020 to Indonesian Stock Exchange today with the following key figures;

Mr. Haryanto Adikoesoemo, President Director of AKRA, said;

"The Company maintained the growth momentum in Q1 2020. Trading and Distribution segment contributed to this and was supplemented by JIIPE land sales and continuation of lease revenue.  Our fundamentals remain solid with diversified revenue base and low leverage. 

“The Company is operating under COVID-19 pandemic situation with robust Business Continuity Plan for our logistic supply chain.  We are fully complying with government measures on Social Distancing yet ensuing that we support functioning of economy by delivering essential products like petroleum and basic chemicals.   AKR business model is based on pass-through of volatility in product prices and exchange rates, eliminating inventory loss risk.”

He further added, “We are taking necessary steps considering the slowing GDP growth environment and global oil market. The management is closely evaluating demand slowdown, volatile prices and potential supply chain disruptions. These measures will guide the company in doing the business until economy recovers.”