PT. AKR Corporindo, Tbk
JAKARTA, 26 October’ 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), distributor of Petroleum, Basic chemicals and provider of Logistic & supply chain services in Indonesia, once again showing Company’s ability in maintaining its strong growth performance amid pandemic situation during 9M 2020. The Company’s Net Profit growth improved further in 9M 2020, at +31% y/y at Rp685 billion.
On AKRA 9M 20 financial statement, all margins recorded growth, the Gross Profit grew by 15%, Operating Profit by 26% and Net Profit before minority interest grew by 31%, and Profit for parent entity reached Rp665 billion. This was achieved by healthy contribution from all business, strict control over Operating Expenses, tight Working Capital Management and low leverage.
Mr. Haryanto Adikoesoemo, President Director of AKRA stated, “AKRA delivered this very strong performance amid covid situation without disruption and ensuring the delivery of fuel and raw material to our industrial customers across Indonesia. We are happy to report a strong performance driven by strong growth in volume of Petroleum segment and contribution from other business segments; during the 9 months AKR managed its risk effectively, despite significant fluctuation in prices of Petroleum and chemical products; also the company reported positive contribution from JIIPE industrial estate in Gresik.”
“We are continuing to maintain our growth momentum but are mindful of the impact of COVID on the economic growth and demand for essential raw material and fuel; AKR balance sheet continues to be strong, with low gearing ratio 25% and for the 9 months ended 30th September 2020, operating cash flows improved; We believe that the Job Creation Bill will boost Investments, Jobs and overall Prosperity in Indonesia which will help revival of industrial activity and demand from domestic and foreign investors for Industrial estate; we continue to work closely with our Partner and also government authorities to improve the connectivity, complete expansion of the port facilities in JIIPE and improve the ease of doing business. We are confident that this will improve the attractiveness of JIIPE for domestic and foreign investors.”
CONSOLIDATED FINANCIAL RESULT
The Company reported the unaudited financial results for the year ended 30th September 2020 to Indonesian Stock Exchange today with the following key figures;
The unaudited financial statements of the company were filed with IDX today which is available for download from the company’s website di www.akr.co.id
PT AKR Corporindo Tbk