Impack Pratama Estimates IDR 430 Billion Profit And Revenue Of IDR 2.86 Trillion In Closed Year 2023

Photo: Doc. Primary Impack

JAKARTA - Impack Pratama Industri (IMPC) closed the fiscal year 2023 with an estimated net profit of IDR 420-430 billion. Exceeding the company's target of IDR 390 billion, an increase of around 37-40 percent from the previous year's net profit achievement of IDR 307 billion.

Revenue is estimated at IDR 2.86 trillion, an increase of almost 2 percent from the realization of the 2022 fiscal year of IDR 2.81 trillion. This year, the company is targeting revenue of IDR 3.15 trillion, and net profit of IDR 550 billion.

"We set targets tend to be conservative in anticipating global geopolitical risks and interest rates that are still high," explained the President Director of the Company, Haryanto Tjiptodihardj, in his statement, Wednesday, February 21.

To achieve this target, the company will prioritize its organic and inorganic growth strategy. To support the expansion plan, the company allocates a capital expenditure of IDR 325 billion. The majority are for the construction of a new distribution center covering an area of 36 thousand square meters over an area of 60 thousand square meters in West Java. The addition of the capacity of the new factory in the Batang Integrated Industrial Zone (KITB), Central Java.

This year's capex budget is the largest capex value since the 2014 IPO. The largest capex budget, undermining management confidence in promising business opportunities for the next five years.

The company's new factory at KITB has been completed, and started commercial production this February, three months earlier than the target. The largest distribution center development in the Delta Silicon 8 area, Cikarang, is expected to support an increase in sales in the next five years.

The new distribution center is scheduled to be ready to use in the fourth quarter of 2024. We hope that the construction of this new factory and distribution center can intensify our sales growth," Haryanto added.

Following the successful exports of Alderon roofing to Malaysia, Thailand and Vietnam, the company will start its first production of Alderon roofing in Kulai, Malaysia in the fourth quarter. The new achievement is expected to be the beginning to dominate the Southeast Asian market.

The Company always maintains cash flow health in order to maintain a dividend payout ratio above 50 percent, continuing the previous years. It shows commitment to disciplined, prudent, and efficient financial governance.