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Impack Pratama Pursue IDR 390 Billion Net Profit in 2023

Posted by on January 31, 2023 in News & Events

Jakarta, January 24, 2023 – PT Impack Pratama Industri Tbk. (the “Company”) concluded the fiscal year of 2022 with the highest Revenues and Net Income achievements in the history of the Company on a quarterly basis. In the fourth quarter of 2022, the Company estimates a record of Revenues of IDR775 billion and a Net Income of IDR100 billion.

Throughout 2022, the Company might have experienced margin pressure from rising raw material prices and logistics costs, but nonetheless, the Company was still able to uplift Revenues and Net Income growth by maintaining an estimated Gross Profit Margin of 34.0%. On an annual basis, the Company managed to record revenue growth of 25.7% to approx. IDR2.8 trillion from IDR2.2 trillion in the previous year. This realization was 7.7% higher than the Company’s target of IDR2.6 trillion. In line with that, the 2022 fiscal year Net Income is estimated to exceed IDR300 billion, growing by 45.2% from the previous year’s Net Income of IDR210 billion and 17.3% above the 2022 Net Income target of IDR260 billion.

The year of 2023 is still overshadowed by the threat of the global recession, rising interest rates, and other uncertainties. However, the Company is continually committed to maintaining work efficiency and productivity, as well as growing the sales of new products such as uPVC ceilings and other roofing innovations. For this reason, we set a Revenues target to grow by around 17.9% to IDR3.3 trillion and a Net Income target of IDR390 Billion, an increase of 27.9% from the realization of the 2022 fiscal year. The Company’s President Director, Haryanto Tjiptodihardjo, also added, “Since the commencement of our 5-year working program in 2020, we have delivered our commitment through our achievements in exceeding our targets.”

In November 2022, the Company managed to raise IDR325 billion in fresh funds through the NonPreemptive Rights Issuance (NPRI) scheme by issuing 100 million new shares which were absorbed by several investors and the controlling shareholder. With the addition of this capital equity, the Company will use the funds obtained for organic and inorganic growth which are expected to support the growth of the Company’s Revenues and Net Income for the next one to two years.

ESG Milestones

  • Establishment of a subsidiary company named PT Sirkular Karya Indonesia which focuses on managing the recycling of PET, PP, PVC, PE and other plastic waste into innovative, longlived, and eco-friendly building material products that can be recycled. Hopefully, PT SKI will start its operations in 2023.
  • Commencement of the first phase solar panel system operation of Unit 2 Trembesi, Cikarang in December 2022 with a capacity of 1,231 kWp with an estimated reduction in carbon emissions of 1,251 tons of CO2/year or equivalent to the carbon absorption capacity of 57 thousand mature trees.