JAKARTA, July 31, 2019
PT Aneka Gas Industri, Tbk. (Stock Code: AGII.JK) released its unaudited financial statements for the first half of 2019 (1H 2019) with Net Profit Attributable to Parent Entity increased 8.9% to Rp 44 billion. Some of the key highlights of AGII’ 1H 2019 financial performance are as follows:
- 1H 2019 sales grew by 11,4% due to growth in sales volume
- AGII has added 4 (four) filling station during first half of this year.
- Incurred Rp 168 billion of CAPEX targeted for FY 2019 that was allocated for building new filling stations, marketing as well as maintenance facilities.
- 1H 2019 net profit after tax attributable to parent entity amounted to Rp 44 billion compared to Rp 40 billion for the same period during 2018.
- 1H 2019 Gross Margin amounted to 44.97%.
- 1H 2019 Net Margin maintained at 4.34%.
- Total assets as of June 30, 2019 amounted to Rp 6,861 billion which was higher than in Full Year 2018.
11.4% Sales Growth
AGII’s 8.1% increase in operating profit before tax was preceded by over 11.4% sales growth for 1H 2019 of Rp 196 billion compared to Rp 181 billion in the same period in 2018.
Rachmat Harsono, President Director of AGII, stated that, ““Despite generating sales of two times of Indonesia’s GDP, however margins in the first half is not at an optimum level as yet. Margins were less than desirable as a result of the challenges we faced in the first half which includes the fasting month and lebaran holiday as well as challenges that hinder growth in certain sectors such as CPO/agriculture. At the same time, we have also had a major maintenance performed at two of our plants. We remain committed to improve our margins in the second half of this year.”
Solid Financial Position
Total assets of the Company in 1H 2019 is Rp 6,861 billion while total liabilities were approximately Rp 3,678 billion. Total equity amounted to Rp 3,184 billion in 1H 2019. AGII continues to place specific emphasis on maintaining the right balance between its assets and liabilities while maintaining the equity needed to ensure sustainable growth.
Sustainable Profit Margins
AGII’s gross profit margins was maintained at 44.97% in 1H 2019, Operating Profit (EBIT) margin at 18.62% while EBITDA margin at 31.66% in 1H 2019. Meanwhile net profit margin stood at over 4%.
Rachmat Harsono, The President Director of Aneka Gas Industri stated that, “Considering the changes and infrastructure development, in particular Trans Java toll road, we intend to optimize the use of our existing filling stations by adding product variants such as nitrogen, argon, and carbon dioxide based on the market needs. Given the case, we will optimize the use of our capital expenditure and improve the efficiency of our existing filling stations. Aneka Gas products have been recognized as the best by several industry participants which resulted in the Company winning the Supplier Quality Excellence Award from Coca-Cola Amatil Indonesia (CCAI). This prestigious award is given to companies that have met or exceeded a very stringent set of quality performance criteria.”
Some of the key events that took place in 1H 2019 included the following:
• Opened 4 (four) new filling stations.
• In terms of sales breakdown, medical accounted for 23%, consumer goods 18%, infrastructure 14%, retail 31%, and other manufacturing 14%.
• In terms of delivery methods, 50% of AGII’s sales comprises of bulk, cylinder 33%, pipeline 4%, medical equipment and others 13%.
• In terms of market positioning, AGII still retains its position as the industry leader with the biggest market share in the production and distribution of air gas & non-air-gas products in 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 June 30th, 2019, AGII had 44 industrial gas plants and 104 filling stations in 23 provinces across Indonesia.
For more information, please contact:
Tel: (62-21) 8370 9111
Email: [email protected]
Tel: (62-21) 8370 9111 ext. 117
Email: [email protected]
This press release has been prepared by PT Aneka Gas IndustriTbk. (“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.