Recently Released To Public, EBT Company Arkora Hydro Shows Net Profit Of IDR 28.4 Billion And Investment Plan Of IDR 120 Billion

Photo: Doc. Antara/Arkora Hydro

JAKARTA - The company in the field of power generation through new and renewable energy sources (EBT) originating from water flow PT Arkora Hydro Tbk (ARKO) earned a net profit in the first quarter of 2022 of IDR 28.4 billion. This record increased 58 percent compared to the same period the previous year. This profit was supported by net income which reached Rp69.1 billion in the first quarter of 2022, growing 36 percent compared to the same period last year. The company has invested Rp100 billion to Rp120 billion for the Yaentu project. As for the Kukusan-2 project, the company has disbursed around Rp45 billion to Rp55 billion in 2022 and Rp100 billion in 2023. In the future, the company will be able to increase electricity production so that it will have excellent cash flow to support the company's future development plans as well as provide dividends to shareholders," Aldo said in his statement, quoted by Antara, Friday 15 July. for another project, namely Arkora Solar Energy, around Rp. 20 billion. Therefore, the company's capital expenditure in 2022 will be around Rp 200 billion to Rp 250 billion. In addition to developing the potential that the company already has, ARKO also plans to look for acquisition opportunities. The company is also actively looking for hydro projects with high potential above 25 MW in order to realize the company's vision, namely to increase the renewable energy mix in Indonesia through the development of hydropower potential in the country. "This hope is supported by the company's strong technical, financial and fundamental capabilities," said Aldo.

Aldo is optimistic that the company's fundamentals will be more solid in the future. This optimism is supported, among others, by the company's performance which is getting better from time to time. In 2021, the company has recorded a net income of Rp198.1 billion. This achievement increased by Rp. 145.9 billion or soared by 280.23 percent of the company's revenue of Rp. 52.1 billion in 2020. The increase in revenue prompted the company to achieve a net profit of Rp. 48.9 billion in 2021. ARKO has just conducted an Initial Public Offering (IPO). ) on the Indonesia Stock Exchange (IDX) on July 8, 2022. In this corporate action, the company reaped Rp182.7 billion in fresh funds from the capital market. According to Aldo, investors were very enthusiastic about welcoming ARKO shares. This can be seen from the high interest during the offering period, so that it was oversubscribed or oversubscribed by 10.89 times. The high enthusiasm of investors made the company to issue additional new shares from portfolios of 28,995,000 shares, bringing the number of shares issued to 608,895. 000 shares, from the original plan of 579.9 million shares.