PT HK Metals Utama Where Ricky Harun Becomes Commissioner Turns Out To Lose IDR 235 Billion In 2020

One of the production facilities owned by PT HK Metal Utama Tbk. (Photo: Doc. HKMU)

JAKARTA - PT HK Metals Utama Tbk reported that the company suffered a net loss of Rp235.7 billion in 2020. The information was quoted based on a disclosure published on Monday, August 15.

As for the first quarter of 2021, the business entity with the stock code HKMU posted a net profit of IDR 3.1 billion.

"The company starts 2021 with a focus on the aluminum business," said HKMU's management as quoted on Thursday, August 19.

The company experienced a decline in revenue in the aluminum manufacturing segment by 57 percent year-on-year (yoy) from IDR 302 billion in the second quarter of 2020 to IDR 130 billion in the second quarter of 2021.

"This condition is mainly driven by industrial developments affected by the COVID-19 pandemic which has a significant impact on the company's business activities throughout 2021," continued HKMU.

In detail, the company's gross profit in the first trimester of this year was Rp. 15.22 billion. Then, net sales were recorded at Rp130.30 billion.

Specifically for sales, the contribution of operating income is still supported by aluminum products with a percentage of 51 percent. Followed by 21 percent mild steel, 12 percent stainless steel, 8 percent PVC pipe, and 8 percent of sanitary products.

As for liabilities, in the first quarter of 2021, it is stated that they amounted to Rp.453.78 billion. This figure slightly decreased from the recapitulation of the same sector at the end of 2020 with Rp464.91 billion.

"The second phase of the COVID-19 outbreak in Indonesia and Eid al-Fitr in May also had an impact on business, where the demand for building materials began to decline," continued the company, which has just appointed actor Ricky Harun as commissioner.

In its plan, HK Metals Utama stated that it would expand its production in 2023.

HKMU itself has a number of subsidiaries, namely PT Dantool Karya Teknik Utama, PT Hakaru Metalindo Perkasa, PT Handal Aluminum Sukses. Then, PT Karya Bumimas Persada, PT Metalutama Perkasa Jaya, and PT Rasa Langgeng Wira.