Relying On New Products, Indopoly Targets Revenue Of IDR 2.84 Trillion This Year

AGMS of Indopoly Swakarsa Industry. (Photo: By courtesy)

JAKARTA - The producer of plastic packaging for packaged food, PT Indopoly Swakarsa Industry Tbk (IPOL), is targeting revenue this year to reach US $ 203 million or Rp2.84 trillion (exchange rate of Rp14,000 per US dollar). Deputy President Director of Indopoly Swakarsa Industry Jeffrey Halim said, to boost its performance, the company relies on new products.

Jeffrey said the company's projected financial performance this year would not be much different from the 2019 achievement.

"By surviving like the 2019 performance, it is a remarkable achievement in the current situation of the COVID-19 pandemic," Jeffrey told reporters after the Indopoly Annual General Meeting of Shareholders (AGMS) in Jakarta, Wednesday, June 25 yesterday.

Jeffrey explained that the company's sales and net profit that fell in 2019 were due to a decrease in the price of raw materials for production. This is because, according to Jeffrey, the selling price of the company's products follows the price of raw materials and consumer demand.

However, he said that in terms of quantity, the company's total production tends to be stable. Until the end of 2019, the company recorded a total production of 89,964 tons compared to 2018 which was 89,724 tons.

Meanwhile, to boost the company's performance, his party has prepared several strategies. First, the company will rely on its new product, namely Ultra High Barrier White Opaque Metalized BOPP Film, which is an alternative to aluminum foil.

This film has one side that is white, but has a metalized side that functions as a barrier. The white color will eliminate the use of white ink on the packaging, thus reducing the use of organic solvents during the printing process.

According to Jeffrey, the potential demand for this product is still very large due to the consumer's need for the use of packaging that is more environmentally friendly and sustainable. This product can also be used to reduce the number of layers in flexible packaging in order to reduce carbon footprint.

With the COVID-19 pandemic, said Jeffrey, the community needs packaging materials. The reason is that currently people eat more at home.

"Food packaging must be clean. This makes the flexible packaging we have needed, because our goods are the most economical and have good protection for food," he explained.

For information, the company posted sales of 203.25 million throughout 2019 or a decrease of 3.9 percent compared to the same period in 2018 of 211.57 million US dollars. Net income was recorded at 4.22 million US dollars, down 15.25 percent from 4.85 million in the previous year.