Production Cost Efficiency, Impack Pratama Industri’s Profit Increases 47.7 percent

Armfalcon.com, JAKARTA — PT Impack Pratama Industri Tbk as a company that manufactures and distributes building materials to plastic goods, has resumed its financial performance growth. This can be seen from the net profit which grew 47.7 percent to IDR 121 billion in the first quarter of 2023 from IDR 82 billion in the previous year.

Then, the growth in net profit was in line with the increase in net income in the first three months of 2023 by 5.8 percent to IDR 744 billion from IDR 703 billion in the same period the previous year.

Even so, the company recorded an increase in gross profit margin to 40.7 percent per quarter I-2023 from an average gross profit margin of 34.8 percent throughout 2022.

Corporate Secretary of Impack Pratama Industri Lenggana Linggawati said this was due to production cost efficiencies including reduced raw material prices. “We also recorded a decrease in interest expenses due to the repayment of a number of bank loans from the proceeds from Investments without Pre-emptive Rights (PMTHMETD),” he said in a written statement, Friday (28/4/2023).

In addition, in line with the increase in net income, operating profit for the first quarter of 2023 grew 53 percent to IDR 173 billion from IDR 113 billion in the previous year and the operating profit margin also increased to 23.2 percent from 16.1 percent per the previous quarter.

The company also recorded an increase in EBITDA per quarter I-2023 by 45.1 percent to IDR 201 billion from IDR 138 billion in the same period the previous year, with an EBITDA ratio that also increased marked by a decrease in the debt to EBITDA ratio to 2.4x per quarter. I-2023 from 4.2x per previous quarter.

Meanwhile, the company also continues its commitment to reducing emissions, in December 2022, the first phase solar panel unit 2 in Cikarang will start operating at 1/3 of the installed capacity, in accordance with recommendations from PLN as the off-taker.

So that by operating the solar panels, the company is able to reduce carbon emissions by 1,251 tons of CO2/year or equivalent to the carbon absorption capacity of 57 thousand mature trees.