AGII Announces Full Year 2020 Results, Reports All-Time High Quarterly Sales Q4-2020

By Press Release09 April 2021

Jakarta, 09 April 2021 – PT Aneka Gas Industri Tbk (Bloomberg Code: AGII IJ or “the Company”) has announced its Consolidated Financial Statements for the years ended December 31, 2020 (“FY2020”) and 2019 (“FY2019”). During FY2020, the Company recorded sales of IDR 2.19 Trillion, approximately stable with a decrease of 0.7% compared to sales of the previous year. Sales in the fourth quarter of 2020 (“Q4-2020”) was an all-time high, reaching IDR 611.42 billion or grew 11.9% compared to sales of the third quarter of 2020 (“Q3-2020”). Likewise, Q4-2020 Net Profit was also an all-time high, reaching IDR 67.69 billion or nearly 5x (five times) of the profit in Q3-2020. The achievements in Q4-2020 supported the company in recording Gross Profit and Profit for the Period for FY2020 to reach IDR 933.43 billion and IDR 99.86 billion, respectively.

President Director of AGII, Mr. Rachmat Harsono, said “During 2020, Aneka Gas Industri has successfully proved our resilience in a challenging fiscal year. Our performance is stable compared to the previous year, as FY2020 sales only declined by 0.7% year-on-year (“y.o.y”), lower than the decline in Gross Domestic Product (“GDP”) of other business sectors which fell up to 15% to 20% y.o.y. We saw great growth particularly from the Healthcare Sector, in relation to the demand for medical gas as well as its installation services and supporting equipment. In addition, during Q4-2020, we also started to see an increase from other customer sectors, including from Infrastructure and Consumer Goods. We are also grateful that the company's efforts to maintain operational efficiency have helped us to maintain our EBITDA and Net Profit Margin for the Year at 30.8% and 4.6%, respectively, approximately stable compared to the previous year. In addition, such performance have thankfully made PT Aneka Gas Industri Tbk to earn an award as best company in the category of "Plastics, Packaging and Chemical Industry" in Bisnis Indonesia Awards (BIA) 2020 themed “Resilience During Pandemic”. Thanks to the hard work and dedication of all AGII employees, the company was able to take advantage of available opportunities through strategic initiatives that we have planned together, and even accelerated the transformation that we have long envisioned. For 2021, we look forward to an even better performance which will be supported by market development, process improvement as well as by the acquisition of Samator assets which we have just completed”.

Please click here to read full article.