06 Aug 2020

AGII Sustains Performance in 1H-2020, Expands Medical Equipment and Services Line

PT Aneka Gas Industri Tbk (Bloomberg Code: AGII IJ) has announced its 1H-2020 consolidated financial statements for the six months ended 30 June 2020 and 2019. In that period, total sales reached IDR 1.03 trillion, or decreased as much as 2.1% compared to Semester-I 2019. Gross profit and profit for the period reached IDR 447.9 billion and IDR 18.1 billion as of 30 June 2020, respectively.

For Full Announcement Document, click here

AGII President Director, Rachmat Harsono, said “During the first half of 2020, Aneka Gas Industri observed shifting business trends, which encouraged us to work on maintaining our resilience in the industry. Gross Domestic Product (GDP) was reported to have decreased by 10% in certain segments for the first half of 2020, while Aneka Gas Industri reported a decline in sales of 2.1%. This is partly because the company recorded revenue growth of more than 30% from the service and equipment segment, which includes sales from installation services, equipment and technology for healthcare customers. The company has been involved in various government projects such as the COVID-19 Emergency Hospital at Wisma Atlet, DKI Jakarta and the Galang Island Emergency Hospital in Batam, Riau Islands. In these projects, we help provide medical gas installations and equipment for isolation as well as patient care facilities. For the second half of 2020 and the coming years ahead, we will continue to identify opportunities to serve emerging sectors that require industrial gas products, equipment and their supporting services, as well as determine strategies to maintain performance while providing the best service for our customers ”.

1H-2020 Highlights
● Total sales reached Rp 1.03 trillion in 1H-2020, or decreased by 2.1% compared to IDR 1.05 trillion in the same period of last year supported by the growth of the healthcare and consumer goods segments
● Profit for the year reached IDR 18.1 billion in 1H-2020, or decreased 60.3% from IDR 45.7 billion in the same period of last year year, due to slowed growth in certain segments accompanied by an increase in financial costs
● The balance sheet remained stable with a cash position at IDR 402.1 billion as of 30 June 2020 and the Debt-to-Asset ratio stood at 0.54x