Jakarta, February 21, 2024 – PT Impack Pratama Industri Tbk. (“the Company”) concluded the 2023 fiscal year by achieving an estimated Net Income in the range of IDR420-430 billion, exceeding the Company’s target of IDR390 billion, an increase of around 37-40% from the previous year’s Net Income of IDR307 billion. Meanwhile, the Company’s Revenue is estimated to reach IDR2.86 trillion, an increase of approx. almost 2% from the realized Revenue for the 2022 fiscal year which was IDR2.81 trillion.
For 2024, the Company sets a target Revenue of IDR3.15 trillion and Net Income of IDR550 billion. “We set a more conservative target to anticipate global geopolitical risks and rising interest rates,” explained the President Director of the Company, Haryanto Tjiptodihardjo. To achieve these targets, the Company will implement organic and inorganic growth strategies.
To support the Company’s expansion plans, the Company’s budgeted capital expenditure is around IDR325 billion which mainly will be allocated for the construction of a new distribution center with a covered area of 36,000 m2 on a land area of 60,000 m2 in West Java, as well as adding capacity to our new plant in the Kawasan Industri Terpadu Batang (KITB), Central Java. The Company’s capex this year is the largest capex budgeted since its IPO in 2014. The largest capex budget underlies Management’s confidence in the promising business opportunities for the next five years.
The Company’s new plant located in KITB has been completed and started its commercial production this February, three months earlier than the Company’s target. In addition, the Management announced the construction of the Company’s largest distribution center in Delta Silicon 8, Cikarang, which is anticipated to support the increase in the Company’s sales for the next five years. This new distribution center is scheduled to be ready for use in the fourth quarter of 2024. “We hope that the construction of this new plant and distribution center can accelerate our sales growth,” Haryanto added.
Continuing the success of Alderon roofing exports to neighboring countries such as Malaysia, Thailand, and Vietnam, the Company will start producing its own Alderon roofing at the existing plant in Kulai, Malaysia in the coming fourth quarter. It is hoped that this new milestone can be the Company’s starting point for the Company to dominate the market in other Southeast Asian countries.
The Company always maintains healthy cash flow so that the Dividend Payout Ratio above 50% can be maintained annually. This shows the Company’s commitment to disciplined, prudent, and efficient financial governance.
ESG Milestones
- The signing of the Green Declaration involved PT Sirkular Karya Indonesia, PT Sasa Inti as the consumer goods producer, Gerakan PASTI as a collaborative partner, and Greenprosa as the organization of organic waste management. This collaboration aims to overcome the problem of single-use plastic waste through creative green innovation, by upcycling it into quality and long- lasting building products.
- Production of Polycarbonate (PC) sheets under the Solartuff Solid brand succeeded in achieving a Green Label Certificate with a Gold rating, another Impack’s sustainable and environmentally friendly products that suffice the need for high standard and long-lasting roofs.
- The Company gave support to sustainability education to SMK Mitra Industri MM2100 (a Vocational School) through the provision of hydroponic facilities. It is hoped that this assistance can spur the revitalization of Urban Farming, enable hydroponic training, and increase students’ independence in running a hydroponic business.
