Jakarta, July 28, 2023 – Concluding the first half of 2023, PT Impack Pratama Industri Tbk. (the “Company”) managed to record strong Net Income growth amounted to IDR213 billion, up 46.5% from the previous year’s record of IDR145 billion. In the past years, the Idul Fitri holiday which coincided in the second quarter usually affected the Company’s business performance. The Company’s Revenues in the second quarter of this year was maintained at IDR646 billion. Revenues in the first half of 2023 increased 3.0% YoY to IDR1.4 trillion from IDR1.3 trillion, driven by the domestic sales. Meanwhile, the performance of the Company’s overseas subsidiaries (in Australia, New Zealand, and Vietnam) weakened due to the economic slowdown in these countries.

Extending the achievements in the first half of this year, Management is committed to achieving a Net Income target of IDR390 billion. The Company’s President Director, Haryanto Tjiptodihardjo said, “The Company’s performance will usually strengthen in the second half of the year as we hope to come close to attaining our Revenues target of IDR3.3 trillion. Combined with operational efficiency, we are optimistic to achieve and beat our Net Income guidance.”

Last May, the Company has doubled its uPVC ceilings production capacity. Anticipating the next phase, the uPVC ceilings production capacity will be added up to four times the initial capacity and the additional machines will be installed at the Company’s new plant in the Kawasan Industri Terpadu Batang (KITB), Central Java. The new plant will become the Company’s 11th plant and is estimated to commence its operations in the first half of 2024.

1H23 Financial Performance

• The Company recorded 2Q23 Revenues of IDR646 billion. Mostly supported by the growth of domestic sales volume, 1H23 Revenues grew 3.0% to IDR1.4 trillion from last year’s number of IDR1.3 trillion.
• Gross Profit increased 21.8% to IDR562 billion in 1H23 from IDR461 billion in 1H22. The decline in raw material prices increased the Gross Profit Margin from 34.2% last year to 40.4%.
• Following the growth in Gross Profit, 1H23 Operating Profit rose 47.8% to IDR325 billion from IDR220 billion in the previous year.
• Even though the Company booked a foreign exchange loss of IDR24 billion, the Company still managed to achieve 1H23 Net Income of IDR213 billion, an increase of 46.5% from IDR145 billion in 1H22. Net Income Margin also increased from 10.8% to 15.3%.
• As of 1H23, the Company was able to maintain a healthy position of cash flow from operations at IDR232 billion.
• The Company’s EBITDA grew by 40.4% from the previous year which was IDR271 billion to IDR380 billion in 1H23. EBITDA Margin also increased from 20.1% in 1H22 to 27.4%.
• Compared to the first half of last year, EBITDA Ratios showed a consistent improvement. Debt to EBITDA Ratio decreased from 2.4x last year to 1.5x. EBITDA to Interest Ratio increased from 13.6x to 23,6x in 1H23.

ESG Milestone

The Company along with the Universitas Hindu Indonesia, Trisakti University, and supported by Bank Central Asia inaugurated the “Bangkitkan Baliku” program which aims to initiate Bali’s creative economy outside the tourism sector, in line with the concept of the Kerthi Bali Economy. This program provides benefits to the Women Farmers Group (KWT) in Jembrana who process Bedetan special food made from dried Saridnella lemuru fish. The Company presented the Solar Dryer Dome and its processing facilities, as well as providing guidance in improving the products’ quality and presenting attractive packaging and marketing implementation. For more information, please click here.

About PT Impack Pratama Industri Tbk

The Company was founded in 1981 and listed on the Indonesian Stock Exchange on December 17, 2014 under the code “IMPC.” The Company’s main business activity is the production and distribution of building materials and plastic goods. The Company has a wide range of products classified into three segments namely roofs, facades and materials. To date, the Company still holds the position as the market leader for its main products that the Company markets under the popular brands of SolarTuff, TwinLite, and Alderon.

Disclaimer

This press release’s statements may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market condition, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. PT Impack Pratama Industri Tbk. does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will PT Impack Pratama Industri Tbk. and its affiliate companies are liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

For further information, please contact:

Lenggana Linggawati
Corporate Secretary
PT Impack Pratama Industri Tbk
Altira Office Tower 38th Floor, Altira Business Park
Jl. Yos Sudarso Kav. 85, Sunter, Jakarta Utara
Tel : (62-21) 21882000
Email : corporate.secretary@impack-pratama.com