ALDO aims IDR 3 trillion revenue in 2023

10 October 2022 18:20

JAKARTA - PT Alkindo Naratama Tbk (ALDO), is targeting an almost doubled revenue increase in 2023 compared to the previous year. ALDO targets revenue of IDR 3 trillion in 2023, a 76% increase from this year's target of IDR 1.7 trillion.

The target increase was triggered by the addition of a brown paper recycling machine at ALDO's subsidiary, PT Eco Paper Indonesia. The company is developing a second machine with a capacity of 500 tons per day. Currently, Eco Paper has one production machine with a capacity of 250 tons per day for recycled brown paper products.

“We expect the new machine will operate by the end of this year. With the addition of the new machine, recycled brown paper production will increase to 220 thousand tons per year from the current production capacity of around 80 thousand tons per year," President Director ALDO, Herwanto Sutanto said in a release received by idnfinancials.com.

Beside increasing production capacity, the Company is also optimistic that the performance improvement will be supported by the market potential for recycled products. After the pandemic, the biggest demand for recycled paper products came from the Fast-Moving Consumer Good (FMGC) and e-commerce sectors.

In Semester I-2022, ALDO achieved a net profit of IDR 39.31 billion, increase 31% from IDR 30.05 billion in the same period of previous year. In that period, ALDO's net sales were recorded at IDR 767.22 billion, an increase of 15% from IDR 669.85 in the same period in 2021. (LM)

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