08 Dec 2020

AGII Performance Improves in Q3-2020, Books IDR 1.57 Trillion in Sales for 9M2020

Jakarta, 08 December 2020 – PT Aneka Gas Industri Tbk (Bloomberg Code: AGII IJ) held an Online Public Expose last week on December 3rd 2020 and delivered a presentation on the Interim Consolidated Financial Statements for the nine months ended September 30th 2020 and 2019 (“9M2020”). Through their presentation, the company conveyed that total sales reached IDR 1.57 trillion, or decreased by 2.5% compared to the same period last year. Gross profit and profit for the year reached IDR 673.6 billion and IDR 32.1 billion as of September 30th 2020, respectively.

For Full Press Release, click here

President Director of AGII, Mr. Rachmat Harsono, said “Despite being full of challenges, during the third quarter of 2020, Aneka Gas Industri has observed several positive developments compared to the second quarter of 2020. Total sales grew by 12.5% on a qoq basis, supported due to an increase in sales from all of our customer segments, especially from the Infrastructure and Healthcare sector. In addition, while Gross Domestic Product (GDP) growth is reported to have decreased by 10% to 15% in certain sectors during 9M2020, AGII reported a decrease in sales of 2.5% yoy. Our focus to maintain operational efficiency, manage a diversified customer base, utilize pass-through pricing mechanism, and develop business in essential and high growth sectors have translated into the company’s resilience. Until the end of 2020, we will continue to work in order to maintain our performance and provide the best for our customers, even though we are also experiencing a slowdown from some customer sectors as a result of the pandemic that is hitting our nation”.

9M2020 Highlights
● Total sales reached IDR 1.57 trillion in 9M2020, or decreased by 2.5% compared to IDR 1.62 trillion in the previous year, yet was still supported by growth from the healthcare sector
● Profit for the year reached IDR 32.1 billion in 9M2020, or decreased by 57.7% compared to IDR 76.0 billion in the previous year, due to slowing growth in most customer sectors particularly during first half of 2020
● Balance sheet remains strong with cash position at IDR 394.1 billion as of 30 Sep 2020 and liabilities to assets ratio stable at 0.53x