JAKARTA, March 29, 2018 – PT Aneka Gas Industri, Tbk. (Stock Code: AGII.JK) released its audited financial statements for the full year of 2017 (FY 2017) with net income growth exceeding 52% to reach over Rp 97.5 billion. Some of the key highlights of Aneka Gas’ FY 2017 financial performance are as follows:
• FY 2017 sales grew 11% due to 7% volume growth sales.
• Overall margins improved and is reflective of the right strategy employed by management
• Achieved target of building 11 new filling stations for the full year thereby increasing the number of total filling stations to 91 by the end of December of 2017
• Incurred over Rp 297 billion of CAPEX for FY 2017 that was mainly attributed to the building of new filling stations
• FY 2017 net profit after tax attributable to shareholders were Rp97.6 billion compared to Rp 64.3 billion for the same period during 2016
• FY 2017 Gross Margin consistently remained above 40%
• FY 2017 Net Margin improved to 5% compared to 3% for the same period last year
• Total assets as of December 31, 2017 were Rp 6.4 trillion increasing from Rp 5.8 trillion in the same period in 2016
• Gearing ratio improved to 0.79x for FY2017 compared to 0.93x for the same period in 2016
Double Digit Sales Growth
AGII’s significant increase in net income was preceded by double digit sales growth of 11% in sales revenue for FY 2017 of Rp 187 billion to Rp 1,838 billion from Rp 1,651 billion in the same period in 2016.
Rachmat Harsono, the Vice President Director of PT Aneka Gas Industri Tbk, stated that, “Despite the challenges faced earlier in 2017, overall, Aneka Gas Industri continued to register positive growth for the full year in 2017. The sales growth in Full Year 2017 was mostly attributed to the Infrastructure (42%) Consumer Goods (22%), and Medical (11%) sectors compared to the same period in 2016. This sales growth reflects the government’s increased spending in infrastructure and industrialization but also the implementation of the right strategy by our Company overall.”
Total assets of the Company in FY 2017 is Rp 6.4 trillion while total liabilities was approximately Rp 3.0 trillion. Total equity amounted to Rp 3.4 trillion in FY 2017. The Company places specific emphasis to maintain the right balance between its assets and liabilities coupled with robust equity needed to ensure sustainable growth.
Consistently Positive Profit Margins
AGII’s gross profit consistently remained at above 45% for FY 2017 to Rp 841 billion while Operating Profit (EBIT) increased over 6% to close to Rp 380 billion thereby maintaining operating margins above 20%. The Company’s EBITDA grew over 9% to Rp 610 billion in FY 2017 thereby resulting in Net Income of Rp 97.5 billion, or a growth of 52% compared to the same period in the previous year.
As a result of the significant sales and profitability growth, the Company was able to consistently maintained healthy ratios, namely in terms of its gross profit margin, EBITDA margin, EBIT margin and net profit margin for the year, which was respectively at 46%, 33%, 21%, and 5%. Rachmat Harsono, added that, “In 2017, we successfully completed 11 new filling stations that brings the total number in our inventory to 91 overall. This achievement is reflective of our commitment to maintain our position as the market leaders in Indonesia.”
In closing, Rachmat Harsono stressed that, “AGII continues to perform despite the challenging business environment evidenced through our increasing sales volumes & margins. With continuing infrastructure development across the country, this provides us with a great opportunity to further expand our presence by building new filling stations, particularly outside of Java. We are confident that with these developments, Aneka Gas will be able to obtain a bigger market share and achieve our vision to be the most desirable company that continuously grows and expands by utilizing natural resources for the benefit of life. To achieve this, we are taking strides to improve productivity as well as employ the right strategy as reflected by improved capacity utilization on our plants.”
Some of the key events that took place in 2017 included the following:
• Opened 11 new filling stations in 23 provinces to cater for the growing needs of air products by customers.
• Fitch ratings-maintained A- ratings for PT Aneka Gas Industri Tbk for its Shelf Registration Bond Issuance whereby two tranches were successfully launched in 2017.
• In terms of market positioning, Aneka Gas Industri still retains its position as the industry leader with the biggest market share in the production/distribution of air gas & non air-gas products in Indonesia.
About PT Aneka Gas Industri Tbk:
PT Aneka Gas Industri Tbk (“AGII”), is the largest industrial gas company in Indonesia and is engaged in four business lines, namely: 1) industrial gas production, 2) industrial gas trading, 3) industrial gas equipment trading and 4) industrial gas equipment installation.
AGII is publicly listed on the Indonesian Stock Exchange (IDX) and is majority owned by the Samator Group.
As of December 31, 2017, AGII had 44 industrial gas plants and 91 filling stations in 23 provinces across Indonesia.
For more information, please contact:
Rachmat Harsono – PT Aneka Gas Industri Tbk
Tel: (62-21) 8370 9111
Tel: (62-21) 8370 9111 ext. 117
This press release has been prepared by PT Aneka Gas Industri Tbk. (“AGII”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of AGII. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. AGII disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither AGII nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward-looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Full press release in pdf document