JAKARTA - The sales and production performance of PT Surya Esa Perkasa Tbk (ESSA) decreased throughout 2020, compared to 2019, due to the decrease in Ammonia prices affected by the COVID-19 pandemic. This was conveyed by Vinod Laroya, President Director of ESSA, in a press release followed Monday (22/3).
He explained that in 2020, revenue decreased 21% to USD 175.9 million from USD 221.9 million in 2019. Ammonia production was 659,734 Metric Tons (MT), fell 13.9% from 766,988 MT in 2019, and LPG production to 61,448 MT, lower than in 2019 of 74,871 MT. "ESSA losses amounting to USD 33.6 million in 2020," said Laroya.
They are optimistic that the company's performance will recover in line with rising prices and demands in the global market. "Ammonia prices rose sharply at the beginning of this year, due to a recovery in demand," explained Laroya. (LK/VA)