Expanding Its Value Creation and Operational Excellence, AGII Sales Hits IDR 678 Billion

By Press Release02 May 2023

Jakarta, 2 May 2023 – PT Samator Indo Gas Tbk (Bloomberg Code: AGII IJ or the “Company”) has released its Consolidated Financial Statements for the year ended 31 March 2023 (“Q1-2023”) and 2022 (“Q1-2022”). As of the Q1-2023 period, Total Sales reached IDR 678,578 billion, a decrease of 0.6% compared to that of Q1-2022. Gross Profit reached IDR 313,550 billion, an increase of 5.9% compared to that of the previous year, and Profit for the Year hits IDR 42,925 billion, decreasing 6.3% compared to that of 31 March 2022, which reached IDR 45,806 billion.

AGII President Director, Rachmat Harsono, spoke, “In the first quarter of 2023, the Company was back again in facing the medical gas demand normalization as the consequence of the surge of medical gas demand that occurred in the previous year. We do not see this situation as an obstacle that might shut down our eagerness. Despite that, we see an opportunity to be devoted to managing our premier services for our customers in other sectors, mainly to serve the growth of demand from Consumer Goods and Infrastructure in this quarter. Even though our Sales experienced a decrease of IDR 3.9 billion in Y-o-Y, when we compare to Q1-2019, our Sales actually grew by 29.9%, or about IDR 156.2 billion. This proves our commitment to move forward and improving our performance, more distinctly, by always managing any business opportunities.”

"In the course of the late Q1-2023, the Company conducted 2 (two) strategic development actions. We started to collaborate with CVC Asia V as a global investment company while holding a groundbreaking ceremony in the area that will become our 56th plant in Kawasan Industri Terpadu Batang (KITB), Central Java. Through CVC Asia V’s investment value in a significant minority stake of approximately US$155 million, the Company will utilize its benefit to enrich the industry experiences, as well as its resources to enhance our operational excellence and the Company’s human value creation. The same goes for our plant expansion in Central Java as a pedestal for the national economic growth, it is an honor for us to contribute to Indonesia’s journey in the Smart and Sustainable Era through various downstream projects.”

For full press release, please click here.