JAKARTA, October 31, 2019 – PT Aneka Gas Industri, Tbk (Bloomberg Stock Code: AGII IJ) announced its 9M19 unaudited financial statements whereby net profit attributable to parent entity 9M19 remained relatively stable at IDR73.5 bn compared to the same period in the previous year. Nonetheless, the Company notably booked a 10.5% YoY sales growth and looks to be on track to achieve our full year sales growth target.
Some of the key highlights of AGII’s 9M19 financial performance are as follows:
• The Company’s top-line growth was largely attributed to the increase in the average selling prices, which drove its consolidated revenue to top at IDR1.6 tn.
• Despite the 10.1% YoY decline in net profit after tax brought about by higher interest expenses, the company managed to maintain net profit after tax attributable to parent entity at a relatively stable amount of IDR73.5 bn in 9M19. This, in turn, supported the Company’s ability to book stable EPS at IDR24/share on YoY basis.
• As of 9M19, gross profit increased by 6.2% YoY. However, gross margin for the nine months period of 2019 was slightly lower on YoY basis at 44.91%, largely due to higher direct labor cost.
• AGII has completed building of four new filling stations as per the 9M19 period.
• Total assets as of the end of September 2019 was at IDR6.9 tn. Meanwhile, liabilities and equity stood at IDR3.7 tn and IDR 3.2 tn, respectively.
Maintaining Positive Growth
The Company managed to book 4.7% YoY increase in their 9M19 EBITDA figure, resulting from its ability to log 10.5% YoY topline growth. This positive sales achievement in 9M19 was mainly driven by the growth in the Others Manufactures and Retail sectors which grew respectively by 6.3% and 3.5% YoY as of the nine months of 2019. These sectors contributed around 44% of AGII’s 9M19 total revenue compared to 39% in the corresponding period a year earlier
Solid Balance Sheet Profile
As of September 30, 2019, the Company booked IDR6.9 tn in total assets compared to IDR6.6 tn in 2018. Total liabilities and equity was at IDR3.7 tn and IDR3.2 tn, respectively. The Company will continue to embark on initiatives aimed at maintaining the appropriate level between its assets and liabilities while maintaining the equity needed to sustain its future growth.
Key Financial Ratios
In terms of profitability, AGII’s gross margin was at 44.91% while operating margin was at 18.63% and EBITDA margin at 31.42% as of 9M19. Going forward, the Company will continue to maintain its profitability profile so as to deliver optimum returns for its shareholders.
Some of the key events that took place during 9M19 included the following:
• Commenced operations of four new filling stations in 9M19.
• Retail and Medical sectors continued to become the main contributors of AGII’s revenue. These two sectors combined contributed to 53% of total sales in 9M19.
• AGII’s sales mix in terms of delivery methods consisted of bulk 51%, cylinder 33%, pipeline 3%, medical equipment and others 13%.
• The Company maintains its leading position by garnering a dominant market share in the production and distribution of air gas & non-air-gas products, specifically to the Retail and Medical sectors.
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) since September 2016 and is majority owned by the Samator Group.
As of September 30, 2019, AGII has 44 industrial gas plants and 104 filling stations in 23 provinces across Indonesia.
For more information, please contact:
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.