PT AKR Corporindo Tbk

07/26/2021 | Press release | Distributed by Public on 07/26/2021 01:46

AKRA delivers strong Net Profit growth 28% in 1H 2021 reached Rp550bio - Will pay Interim Dividend of Rp60/shares

AKRA delivers strong Net Profit growth 28% in 1H 2021 reached Rp550bio - Will pay Interim Dividend of Rp60/shares

July 26, 2021

JAKARTA, July 26, 2021 - PT AKR Corporindo (AKRA) has continued its strong financial performance, with 1H 2021 Net Profit of Rp550bn, up 28% yoy compared to Rp432 bio. Net Margin grew from 4.3% to 5.1%.

Considering these achievements, Board of Directors have approved Interim Dividend of Rp60 per shares.

CONSOLIDATED FINANCIAL STATEMENTS

The Company reported the unaudited financial results for the six months ended 30th June 2021 to Indonesian Stock Exchange today , the Key Highlghts are:

  • AKRA's consolidated revenue for the first semester of 2021 grew 7% to Rp10.7 trillion,
  • Operating profit grew 21% to Rp751 billion
  • Net profit before minority grew 35% to reach Rp610 billion
  • Net profit for parent entity and EPS grew 28%


Mr. Haryanto Adikoesoemo, President Director of AKRA stated, 'AKR has continued to deliver strong performance even during COVID19 pandemic. The company has been carrying out its operations without disruption while keeping health and safety of our employees as our top priority. This ensures that we deliver petroleum and chemical products to our customers throughout Indonesia'

'The Company's performance in the first half of 2021 was driven by the growth of the Trading and Distribution business segment as well as the contribution of the SEZ JIIPE Gresik, Java Timur. The company continues to strictly maintain operational costs as well as working capital to remain efficient.'

'We are very optimistic about the prospect of JIIPE, especially after being designated as a Special Economic Zone - JIIPE Gresik by the President of the Republic of Indonesia on June 28, 2021. SEZ JIIPE Gresik, Java Timur will encourage investment in East Java and Indonesia. We continue to market the land and utilities of the JIIPE Gresik SEZ to domestic and foreign investors. Currently SEZ JIIPE Gresik, Java Timur has entered Phase II development. The port jetty has been expanded to meet shipping demand, including for a copper smelter.'

Mr. Haryanto also emphasized, 'The management has kept the Company's net gearing low at 11%. With a strong balance sheet and cash flow, the Company is confident that it can run investment projects without interruption.' Taking into account the company's performance in 1H 2021, it was decided to pay an interim dividend of Rp 60/share. The total dividend to be paid on August 19, 2021, is IDR 237 billion.'

The dividend distribution schedule is as follows.

BALANCE SHEET AS OF 30th JUNE 2021



Haryanto Adikoesoemo

President Director

PT AKR Corporindo Tbk



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