AGII Commences Gas Plant Operations in Bangka Belitung, Aims to Serve Industrial Recovery in 2H-2022
By Press Release22 August 2022
Jakarta, 22 August 2022– PT Aneka Gas Industri (Bloomberg Code: AGII IJ or the “Company”) through its subsidiary, PT Samator Gas Industri, has officially commenced operations of its factory that will become the main supplier of oxygen for a tin purification smelter with TSL Ausmelt technology in Muntok City, West Bangka Regency, Bangka-Belitung Islands Province.
The President Director of AGII, Mr. Rachmat Harsono, said, “We are anticipating several interesting projects for Q3 and Q4 this year, including one of our Oxygen Gas Plant, that has officially operated starting this month in Bangka-Belitung for one of our valued customers, PT Timah Tbk. Due to the support and dedication from various parties, including from PT Timah Tbk, we are grateful to have completed the construction process, which lasted for almost 16 months. During the construction period, the Company was able to manage the Company’s total CAPEX within the targeted range, which is 10% to 11% of sales”.
“In addition, apart from looking forward to the growth from our project with PT Timah Tbk, we are also anticipating growth driven by other projects, including from the Energy Sector, Industrial Estates, New Capital City, Oleochemical Sector, and many more. We are evaluating several strategic projects that are aimed to further support the Company’s growth and profitability in the future. As is well known, the Company maintains a well-diversified customer base, and as such our growth will be supported by the recovery of several industries,” he said.
The Company has also announced its 1H-2022 Consolidated Financial Statements for the six months, ended June 30, 2022. In the first semester of 2022, total sales reached IDR 1.26 trillion, or decreased by 2.3% compared to that of 1H-2021, one of which is influenced by the post-Covid normalization and seasonality caused by the National Holiday Season in Q2-2022. The Gross Profit and the Profit for the Period of 1H-2022 reached IDR 574.95 billion and IDR 53.84 billion, respectively.
“New normal or post-pandemic industrial gas demand is significantly higher than pre-pandemic demand. Healthcare sales in 1H-2022 is approximately 40% higher than that of 1H-2019. Likewise, total sales in 1H-2022 is approximately 20% higher than that of 1H-2019. This indicates a healthy business and industry growth in the longer term,” he added.
Please click here for full press release.