Despite global economic challenges, AGII manages to maintain positive sales and profitability growth in 1H-2024

By Press Release31 July 2024

Jakarta, 31 July 2024–PT Samator Indo Gas Tbk (Bloomberg Code: AGII IJ or the “Company”) has released its Consolidated Financial Statements for the six months ended 30 June 2024 (“1H-2024”) and 30 June 2023 (“1H-2023”). As of the 1H-2024 period, Total Sales reached IDR 1.39 trillion, an increase of 3.8% compared to that of 1H-2023. Gross Profit reached IDR 640.8 billion, an increase of 6.2% compared to that of the previous year, and Profit for the Year hit IDR 69.1 billion, an increase of 0.4% compared to that of 30 June 2023, which reached IDR 68.9 billion.

”Going forwards, we are expecting significant growth in our sales and profitability driven by increasing demand from the Infrastructure sector in line with economic and development activity in the Kawasan Industri Terpadu Batang (“KITB”). In addition, our 56th plant in Batang will commence in September 2024 and ready to serve medical and industrial tenants in KITB as well as other customers in Jawa Tengah region.” he added. 

The construction of Batang Plant has commenced since March 2023 and currently in the finalisation phase. Just few days ago on 26th July 2024, the President of Republic of Indonesia, Mr. Joko Widodo along with Minister of Investment, Vice Minister of State-Owned Enterprises and Vice Minister of Indonesia Investment Coordinating Board have visited the Company’s upcoming Batang plant to review its readiness. On the honorary visit, Mr. Rachmat commented, “We are greatly honoured and grateful to have Mr. President at our plant during his visit to KITB. Mr. President’s encouragement and words of support has boosted our confidence more that our Batang plant is all set and ready to start operation and serve our customers.”

On top of plant expansions, the Company is also continuously exploring potential opportunities in various application, such as Enhanced Oil Recovery (“EOR”) and Carbon Capture, Utilisation and Storage ("CCUS").

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