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AGII Recorded a Top-Line Growth of 10.5% YoY in 9M19

By Press Release31 October 2019

JAKARTA, October 31, 2019 – PT Aneka Gas Industri, Tbk (Bloomberg Stock Code: AGII IJ) announced its 9M19 unaudited financial statements whereby net profit attributable to parent entity 9M19 remained relatively stable at IDR73.5 bn compared to the same period in the previous year. Nonetheless, the Company notably booked a 10.5% YoY sales growth and looks to be on track to achieve our full year sales growth target.

Some of the key highlights of AGII’s 9M19 financial performance are as follows:

Key Highlights

  • The Company’s top-line growth was largely attributed to the increase in the average selling prices, which drove its consolidated revenue to top at IDR1.6 tn.
  • Despite the 10.1% YoY decline in net profit after tax brought about by higher interest expenses, the company managed to maintain net profit after tax attributable to parent entity at a relatively stable amount of IDR73.5 bn in 9M19. This, in turn, supported the Company’s ability to book stable EPS at IDR24/share on YoY basis.
  • As of 9M19, gross profit increased by 6.2% YoY. However, gross margin for the nine months period of 2019 was slightly lower on YoY basis at 44.91%, largely due to higher direct labor cost.
  • AGII has completed building of four new filling stations as per the 9M19 period.
  • Total assets as of the end of September 2019 was at IDR6.9 tn. Meanwhile, liabilities and equity stood at IDR3.7 tn and IDR 3.2 tn, respectively.

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