CRSN Targets An Increase In Revenue At The End Of 2023 Of IDR 430.05 Billion

JAKARTA - Certification service issuer, PT Carsurin Tbk (CRSN) targets an increase in revenue in 2023 of IDR 430.05 billion.

This optimism is in line with the projected increase in inspection, testing, certification and verification, otherwise known as TIC.

"The company projects that by the end of 2023 the revenue will be IDR 430.05 billion, an increase of 18.35 percent compared to the December 2022 period of IDR 363.57 billion," said Finance Director of PT Carsurin Tbk Timothy Tjahjana, Thursday, November 15.

Timothy conveyed that the target was in accordance with projections in the company's prospectus, an increase would be dominated by the inspection and testing sector.

In addition, in line with the increase in revenue projections, the company's net profit is also targeted to increase to IDR 50 billion by the end of the year.

President Director of PT Carsurin Tbk Sheila Tiwan said, in the third quarter of 2023 CRSN recorded revenue of IDR 312.95 billion. This figure, up 25.75 percent compared to the same period last year of IDR 248.85 billion.

"Income during this period was obtained from a number of business lines which included inspection, testing, certification, consulting, and product sales services," explained Sheila.

Sheila conveyed that the business in the Testing, Inspection, and Certification (TIC) sector has bright prospects, so that it can achieve the revenue target set this year of IDR 430.05 billion and IDR 507 billion by 2024.

"We believe that the company's qualified and proud performance will continue," he explained.

Sheila explained that this belief was driven by the TIC industry which experienced positive trends and stable growth in recent years due to increasing demand for high-quality products and services, as well as increasing consumer awareness about product safety and quality.

Meanwhile, CRSN posted a net profit of IDR 18.87 billion in the third quarter of 2023 or grew 76.52 percent on an annual basis compared to the same period in 2022 of IDR 10.82 billion.

On the other hand, CRSN recorded growth in total assets to IDR 253.71 billion as of September 30, 2023, compared to the position at the end of December 2022 of IDR 170.09 billion.

Furthermore, liabilities decreased to IDR 48.38 billion in the third quarter of 2023, compared to the position at the end of 2022 of IDR 55.56 billion. Meanwhile, equity rose to IDR 205.33 billion, compared to December 2022 of IDR 114.52 billion.

Sheila said that the achievements obtained by the company to date cannot be separated from the company's experience which has reached 55 years.

In addition, CRSN has revitalized a number of its laboratories spread across Indonesia. The laboratories that have been completely revitalized include Samarinda, Kendari, Cikarang, Palembang, Jambi, Pontianak, and Medan.

"The company also has a number of efforts to support the government's ambition to realize economic transformation in the economic green economy, blue economy and energy transition, by capturing business opportunities in it," he said.

Sheila said the company already has 8 business lines, starting from the marine business, the company's business lines are expanding until the latest is the environmental business. The company's business lines include minerals & metals, energy, system and product certification, infrastructure, digital transformation, environment & sustainability, food and agriculture, as well as marine, offshore and insurance.

The rows of green economic opportunities that Carsurin has captured include environmental testing and services related to greenhouse and carbon trading gas.

In addition, there are opportunities in the supply chain and the electric vehicle ecosystem.

Furthermore, for the blue economy sector, Sheila said there are opportunities for the marine infrastructure, maritime transport, and dangerous goods business. As for the energy transition, the company has implemented energy efficiency audits, UAV digital transformations, and services related to renewables energy such as biofuels, palm oil shells (PKS) and sustainable biomass (GGL).