02 May 2019

AGII 1Q19 Result Release

AGII’s Q1 2019 Net Profit Increase 14.1% Y-O-Y totaling Rp 30 billion

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JAKARTA, May 2, 2019–PT Aneka Gas Industri, Tbk. (Stock Code: AGII.JK) released its unaudited financial statements for the first quarter of 2019 (Q1 2019) with Net Profit Attributable to Parent Entity increased 14,1% to Rp 30 billion. Some of the key highlights of AGII’ Q1 2019 financial performance are as follows:

Key Highlights

  • Q1 2019 sales grew by 6,7% due to growth in sales volume
  • Overall margins remained stable due to favorable contribution from the retail and other manufacturing sectors such as smelter, chemical, etc.
  • AGII looks to be on track to achieve its target of building 10 new filling stations for the full year 2019 as it has added 4 (four) filling station during first quarter months of this year.
  • Incurred Rp 86.903 million of CAPEX targeted for FY 2019 that was allocated for building new filling stations, marketing as well as maintenance facilities.
  • Q1 2019 net profit after tax attributable to parent entity amounted to Rp 29.979 million compared to Rp 26.280 million for the same period during 2018.
  • Q1 2019 Gross Margin amounted to 47,3%.
  • Q1 2019 Net Margin remained at around 5,9% which has shown a slight improvement compared to Full Year 2018.
  • Total assets as of March 31, 2019 amounted to Rp 6.873 billion which was higher than in Full Year 2018.

6,7% Sales Growth

AGII’s 8,7% increase in operating profit before tax was preceded by over 6.7% sales growth for Q1 2019 of Rp 522.348 million compared to Rp 489.642 million in the same period in 2018.

Rachmat Harsono, President Director of AGII, stated that, “In comparison to the challenges we’ve faced in Q1 2018, the main challenges we’ve faced in this quarter is that the equipment sales in healthcare and medical sectors has not reached its optimum. However, AGII has managed to perform slightly better in Q1 2019, better than our target achievement. We have witnessed during Q1 2019 that the main drivers for our growth were retail (24%), other manufacturing (14%) sectors, and is reflective of the favorable conditions experienced in the first quarter of the year as well as our ability to implement the right strategy overall.”

Solid Financial Position

Total assets of the Company in Q1 2019 is Rp 6.873 billion while total liabilities were approximately Rp 3.694 billion. Total equity amounted to Rp 3.178 billion in Q1 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 47% in Q1 2019, Operating Profit (EBIT) margin at 20% while EBITDA margin at 33% in Q1 2019. Meanwhile profit attributable to parent entity increase by 14%.

Rachmat Harsono added that, “During Q1 2019, we have successfully completed 4 (four) new filling stations that brings the total number in our inventory to 104 filing stations overall. We are looking to be on track to achieve our full year target of 10-15% sales growth and 15-22% net profit growth. Our achievements to date are in line with our overall plan to complete 10 new filling stations for this year and serves as our commitment to maintain our position as the market leader in Indonesia.

” In closing, Rachmat Harsono stressed that, “I am confident that AGII will continue to perform positively despite the challenging business environment evidenced by our increasing sales volumes & margins. The current emphasis on industrial development in Indonesia, particularly through the application of Industry 4.0, provides us with a great opportunity to further expand our presence and enhance our capacity utilization. As a result, AGII will be able to obtain a significantly bigger market share. We will continue to embark on efforts and initiatives aimed at improving productivity by employing the best strategy.”

Some of the key events that took place in Q1 2019 included the following:

  • Opened 4 (four) new filling stations.
  • In terms of sales breakdown, Retail accounted for 33%, medical 23%, consumer goods 18%,infrastructure 16%, and other manufacturing 10%.
  • in terms of delivery methods, 83% of AGII’s sales comprises of bulk 51%, cylinder 31%, pipeline 4%, medical equipment and others 14%.
  • 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.

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 March 31st, 2019, AGII had 44 industrial gas plants and 104 filling stations in 23 provinces across Indonesia.

For More information, please contact:

Corporate Secretary
Imelda Harsono
Tel: (62-21) 8370 9111
Email: [email protected]

Investor Relations

Edison Bako
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 itsaffiliated 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.

Forward-Looking Statements
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.