JAKARTA. Restructuring and transforming in 2020 managed to drive PT Krakatau Steel (Persero) Tbk’s efficiency and increase productivity. KRAS successfully scored a positive performance, turning its loss last year to a net profit worth UDR 22.64 million, equivalent to IDR 326 billion.
“With Krakatau Steel becoming more efficient and productive, we also became more competitive in business activities, increasing our performance,” Silmy Karim, the President Director of KRAS, claimed in the official statement released Tuesday (25/5).
The consolidated financial report of 2020 of KRAS revealed that it gained USD 22.64 million in its profit after suffering from a loss of USD 505.39 million. Although the 2020 net revenue dropped 4.93% to USD 1.35 billion, equal to IDR 19.44 trillion, its efficiency attempts succeed in reducing operational costs by 41%, from IDR 4.8 trillion in 2019 to IDR 2.8 trillion in 2020.
Furthermore, the company also managed to cut down its energy cost by 46% to IDR 295 billion, utility cost by 27% to IDR 564 billion, consumable costs by 61% to IDR 230 billion, and spare parts cost by 59% to IDR 65 billion.
This year, KRAS targets revenue growth of 43% to IDR 28 trillion. (AM/ZH)