25th April 2011
JAKARTA, April 25, 2011 - PT AKR Corporindo, Tbk. (Bloomberg: AKRA IJ), Indonesia’s
leading bulk logistics and infrastructure company and largest private sector distributor of
petroleum and basic chemicals reported net profit of Rp 1,812 billion in the quarter ended
March 31, 2011 up 2,480% from Rp 70 billion in the same period last year.
Net Profit without Extra ordinary gains (Core Profit) rose 82% to Rp 128 billion during
Q 1’2011 compared to Rp 70 billion during Q1 ‘2010. The Company booked extra ordinary
gains of Rp 1,685 billion on sale of Investment in manufacturing subsidiary, PT Sorini Agro
Asia Corporindo, Tbk. The divestment raised over Rp 2,200 billion for the Company and the
sales of Sorini shares was completed on January 28, 2011.
Sales Revenue during the quarter ended March 31, 2011 rose 79% to Rp 4,353 Billion
compared to Rp 2,433 billion during the same period last year, driven by significant increase in
petroleum sales.
Petroleum revenues increased 149% YOY
Sales revenues growth was driven by increased sales of Petroleum products in Indonesia
which resulted in the sales revenue increasing 149% to Rp 3,461 billion during the Q 1’2011
compared to Rp 1,391 billion during the same period last year. This revenue growth was driven
by increase in supply of High speed diesel and other refined products to mining industry in
Eastern part of Indonesia along with increase in demand from other industrial sectors
Basic chemicals sales also reported 31% growth to Rp 584 billion during Q 1’2011 with
increasing demand for basic raw materials which is the raw material for production of various
industrial and consumer goods.
Demand for logistics services including stevedoring, port handling in Indonesia and China
registered 83% increase in sales revenue during Q 1’ 2011 compared to Q 1’2010.
OUTLOOK:
• Petroleum:
− With strong growth reported in Q1’2011 which is more than 28% of the full year
target, we expect sustained growth in volume of refined petroleum products during
the year 2011. AKR is further initiating measures to increase market penetration in
the Kalimantan and Eastern Indonesian markets.
− AKRA continues to invest in its infrastructure and logistics facilities including
opening new locations to continue the growth in this business.
− Expected deregulation of the subsidized fuel segment could also open larger
market opportunity.
• Basic Chemicals:
− Increasing demand for chemical products driven by Indonesian economic growth
could increase sales of chemicals by 10% to 12% during the year.
− We also are expanding customer base and market share by working closely with
principals.
• Coal Logistics:
− AKRA is developing coal mining concessions in Muara Tewe, Central Kalimantan
and expects to commence initial production in the coming months
− Plans to develop logistics coal infrastructures in Central Kalimantan including
completion of construction of two coal terminals along the Barito River.
− Maximizing synergies by integrating coal and petroleum infrastructure logistics in
Central Kalimantan.
• Logistics:
− Increased utilization of the Independent Petroleum tank storage terminal in
Tanjung Priok port could improve the profitability
− Economic growth and international trade in Indonesia and China is expected to
increase throughputs in our Ports.
• AKRA will continue to invest its cash and focus in infrastructure logistics related to
energy, petroleum and chemical which present higher-yield and better growth
opportunity.
source: IDX
JAKARTA, April 25, 2011 - PT AKR Corporindo, Tbk. (Bloomberg: AKRA IJ), Indonesia’s
leading bulk logistics and infrastructure company and largest private sector distributor of
petroleum and basic chemicals reported net profit of Rp 1,812 billion in the quarter ended
March 31, 2011 up 2,480% from Rp 70 billion in the same period last year.
Net Profit without Extra ordinary gains (Core Profit) rose 82% to Rp 128 billion during
Q 1’2011 compared to Rp 70 billion during Q1 ‘2010. The Company booked extra ordinary
gains of Rp 1,685 billion on sale of Investment in manufacturing subsidiary, PT Sorini Agro
Asia Corporindo, Tbk. The divestment raised over Rp 2,200 billion for the Company and the
sales of Sorini shares was completed on January 28, 2011.
Sales Revenue during the quarter ended March 31, 2011 rose 79% to Rp 4,353 Billion
compared to Rp 2,433 billion during the same period last year, driven by significant increase in
petroleum sales.
Petroleum revenues increased 149% YOY
Sales revenues growth was driven by increased sales of Petroleum products in Indonesia
which resulted in the sales revenue increasing 149% to Rp 3,461 billion during the Q 1’2011
compared to Rp 1,391 billion during the same period last year. This revenue growth was driven
by increase in supply of High speed diesel and other refined products to mining industry in
Eastern part of Indonesia along with increase in demand from other industrial sectors
Basic chemicals sales also reported 31% growth to Rp 584 billion during Q 1’2011 with
increasing demand for basic raw materials which is the raw material for production of various
industrial and consumer goods.
Demand for logistics services including stevedoring, port handling in Indonesia and China
registered 83% increase in sales revenue during Q 1’ 2011 compared to Q 1’2010.
OUTLOOK:
• Petroleum:
− With strong growth reported in Q1’2011 which is more than 28% of the full year
target, we expect sustained growth in volume of refined petroleum products during
the year 2011. AKR is further initiating measures to increase market penetration in
the Kalimantan and Eastern Indonesian markets.
− AKRA continues to invest in its infrastructure and logistics facilities including
opening new locations to continue the growth in this business.
− Expected deregulation of the subsidized fuel segment could also open larger
market opportunity.
• Basic Chemicals:
− Increasing demand for chemical products driven by Indonesian economic growth
could increase sales of chemicals by 10% to 12% during the year.
− We also are expanding customer base and market share by working closely with
principals.
• Coal Logistics:
− AKRA is developing coal mining concessions in Muara Tewe, Central Kalimantan
and expects to commence initial production in the coming months
− Plans to develop logistics coal infrastructures in Central Kalimantan including
completion of construction of two coal terminals along the Barito River.
− Maximizing synergies by integrating coal and petroleum infrastructure logistics in
Central Kalimantan.
• Logistics:
− Increased utilization of the Independent Petroleum tank storage terminal in
Tanjung Priok port could improve the profitability
− Economic growth and international trade in Indonesia and China is expected to
increase throughputs in our Ports.
• AKRA will continue to invest its cash and focus in infrastructure logistics related to
energy, petroleum and chemical which present higher-yield and better growth
opportunity.
source: IDX