Latinusa Targets Revenue Of 192.6 Million US Dollars This Year

Photo: Doc. PT Pelat Timah Nusantara (Latinusa)

JAKARTA - PT Pelat Timah Nusantara Tbk (NIKL) or Latinusa targets revenues of 192.6 million US dollars throughout 2024. This target grew 12.6 percent compared to the realization of revenue in 2023 which was recorded at 171.08 million US dollars.

The President Director of NIKL, Jetrinaldi expressed his optimism, was able to achieve the revenue target by being supported by several strategic steps and supported by tin plate industry coaches from packaged food products to dyes.

"In addition to the strategy to grow, we also hope to get policy support from industry coaches so that industrial conditions like this prioritize domestic production, so that we can sell with a better quantity than 2023," Jetrinaldi said in a virtual public expose, Thursday, April 25.

He further said that the company always maintains product quality by preparing capital expenditures worth US$2.3 million throughout 2024.

"The expansion in 2024 has no specifics. But we are preparing a capital expenditure of 2024 of US$2.3 million with the allocation to maintain quality and profitability," he said.

Meanwhile, NIKL reported sales of US$37.775 million in the first quarter of 2024, down 26 percent in the first quarter of 2023 which reached US$50.129 million.

The reason is, sales of steel plate packaging to the domestic market fell 26 percent on an annual basis to 37.556 million US dollars at the end of March 2024. But the company began to book exports worth 219.1 thousand US dollars.

Although the cost of goods sold can be reduced by 24.4 percent on an annual basis to 37.197 million US dollars in the first quarter of 2024. But gross profit remains cut by 46.4 percent on an annual basis to 578.18 thousand US dollars.