Jakarta, July 28, 2022 – PT Impack Pratama Industri Tbk. (“IMPC” or the “Company”) released its Financial Statement for the second quarter of 2022. Following the economic recovery due to the Covid-19 pandemic, coupled with the celebration of Eid al-Fitr in this second quarter, the Company was still able to record revenue growth of 27.5% to IDR1.35 Trillion in the first half of 2022. In line with that, the Company’s Net Profit maintained robust growth of 39.9% YoY to IDR145 Billion. Commonly, the Company’s business will strengthen in the second half of each year, on this basis, the Company’s Management is optimistic to achieve the set 2022 targets, namely Revenues of IDR2.6 Trillion and Net Profit of IDR260 Billion.
Revenue growth in the first half of 2022 was mainly driven by the increase in sales volume. In last June, the Company started exporting its Alderon roofing products to Thailand, prior to that, Alderon has also been exported to Malaysia and Vietnam. Therefore, the Management believes that the overall exports and sales volume of uPVC roofing products might improve in the second half of 2022. In the future, if Management sees the potential in the markets in these countries, then it is possible for the Company to set up plants there.
Domestically, apart from commencing the operations of our recently established plant in Rungkut, Surabaya, the Company also extended the operations of Alderon manufacturing to the Central Java area. On July 21, 2022, the Company through its subsidiary, PT Unipack Plasindo has signed an Agreement on the Utilization of Industrial Land with Kawasan Industri Terpadu Batang (KITB), Central Java with an area of approx. 2.9 Ha. The plan is that the establishment of this new plant in KITB will function as a factory of our roofing, pipe and ceiling products, which are all under the Alderon brand.
On July 7, 2022, the Company distributed cash dividends to its shareholders, which amounted to IDR106.3 Billion or equivalent to 50.6% of the Company’s 2021 Net Profit. Thus, the dividend received by the shareholders is IDR22/share.
First Half of 2022 Performance Highlights
- The Company’s first half of 2022 Revenues increased by 27.5% from IDR1.06 Trillion in the previous year to IDR1.35 Trillion. In line with the second quarter of 2022 Revenues grew by 27.8% from IDR505 Billion in the second quarter of 2021 to IDR646 Billion. Revenues growth was supported by the increase in sales volume of Alderon roofing.
- We recorded the first half of 2022 Gross Profit of IDR461 Billion, 16.4% up from the first half of 2021 which was IDR396 Billion. Gross Profit Margin declined from 37.5% in the first half of 2021 to 34.2% in the first half of 2022 due to the increase in raw material prices.
- Operating Profit in the first half of 2022 showed an increase of 27.8% to IDR220 Billion from IDR172 Billion in the previous year due to the increase in sales quantity of Alderon roofing.
- In the first half of 2022, we booked a Net Profit of IDR145 Billion, which grew significantly by 39.9% from IDR104 Billion in the previous year. The Company’s Management is optimistic to exceed the 2022 Net Income target of IDR260 Billion.
- Our EBITDA rose by 25.0% from IDR217 Billion in the first half of 2021 to IDR271 Billion in the first half of this year.
- In the first half of 2022, EBITDA Ratios showed consistent improvement, indicated by an increase in the EBITDA to Interest Ratio to 13.6x from 8.6x in the first half of 2021. Then followed by the decrease in Debt to EBITDA Ratio from 3.0x in the first half of 2021 to 2.4x.
ESG Milestones
- For the first time, the Company is included in two sustainability indices in Indonesia, namely IDX Kehati ESG Sector Leaders and IDX Kehati ESG Quality 45 (for the period: July – November 2022). These achievements reflected the Company’s continual commitment to ESG practices based upon Creating Shared Value (CSV) business model.
- The solar panel installation process on Unit 2, Trembesi, Cikarang with a peak capacity of 4,473 kWp/year is estimated to be complete in October 2022.
- The release of the Company’s third Sustainability Report highlighted several sustainability target achievements in 2021 adhering to four pillars of the Company’s sustainability, namely: 1) Economic Growth, 2) Employees and Communities, 3) Environmental Solutions, and 4) Climate Change.
