Jakarta, April 28, 2022 – PT Impack Pratama Industri Tbk. (“IMPC” or “the Company”) released its financial report for the first quarter of 2022. The Company recorded solid growth in financial performance with a Revenue of IDR703 Billion and Net Income of IDR82 Billion in 1Q2022. These achievements are in line with the FY2022 targets that have been set by the Company, namely the Revenues target of IDR2.6 Trillion and a Net Income target of IDR260 Billion.
To cater to a wider Eastern Indonesia market, the Distribution Centre located in Rungkut, Surabaya officially commenced its operations in March 2022. Simultaneously, to support the sales to the Eastern Indonesian market, our newly established plant in Rungkut which produces uPVC roofing products, has reached a utilization rate of approx. 47.3% since it began its operations in November 2021.
Furthermore, the Management has reached a final decision to add a new product variant of the Company, namely uPVC ceilings. The President Director of the Company believes that the uPVC ceiling business has bright prospects. In addition, uPVC ceilings have several advantages, namely being more durable and flexible so that they can provide comfort for the house residents, but still offer varied motifs.
The development of the new uPVC ceiling plant will be placed in Cikarang and is scheduled to begin its operational activities in the third quarter of this year.
1Q2022 Performance Highlights
- The Company’s 1Q2022 Revenues increased by 27.3% YoY from IDR552 Billion in 1Q2021 to IDR703 Billion. This achievement is still in line with the Company’s FY2022 Revenues target of IDR2.6 Trillion.
- We recorded a 1Q2022 Gross Profit of IDR240 Billion, 15.2% up from 1Q2021 which was IDR208 Billion. However, Gross Profit Margin decreased by 9.5% from last year due to rising raw material prices.
- Improved operational efficiency rose the Operating Profit by 23.6% from IDR91 Billion in 1Q2021 to IDR113 Billion in 1Q2022.
- In 1Q2022, we booked a Net Profit of IDR82 Billion, which grew significantly by 32.4% from IDR62 Billion in 1Q2021. With the annualized Net Profit, we might be able to continue exceeding our FY2022 Net Profit target which was set at IDR260 Billion.
- The Company’s EBITDA in 1Q2022 amounted to IDR138 Billion, an increase of 21.5% from 1Q2021, which was IDR114 Billion.
- EBITDA to Interest Ratio increased from 8.3x in 1Q2021 to 14.4x in 1Q2022.
- We signed a contract with SUN Energy for the installation of rooftop solar panels at Unit 2 Cikarang with a peak capacity of 4,473 kWp/year and the installation will be carried out in 2022.
- The installation of solar panels on our two production units in Cikarang generates the energy of approx. 4,673 kWp/year, so it is estimated that this will reduce carbon emissions by 4,748 ton CO2 annually. The reduction in carbon emissions from the installation of solar panels is equivalent to planting 218 thousand trees.
- The only Indonesian company that became the finalist in the Asia Sustainability Reporting Awards (ASRA) for the Large Company category at the 2021 ASRA event held in Singapore.