JAKARTA. PT Krakatau Steel (Persero) Tbk (KRAS) recorded an increase in its earnings before interest, tax, depreciation, and amortisation (EBITDA) by 2.3 times until this October, now reaching IDR 2.1 trillion. By the end of October 2020, its EBITDA only amounted to IDR 930 billion.
This EBITDA surge was possible for KRAS following a similar boost in its sales by 73.19% to IDR 26.5 trillion by October 2021 compared to the sales reported in October 2020 of IDR 15.3 trillion. Then, from this gain, KRAS managed to collect a net profit of IDR 1.05 trillion.
In an official letter released earlier today (18/11), Silmy Karim, President Director of Krakatau Steel, claimed that the company managed to boost its productivity by 25% to 1,628 million tons in October 2021. It shifted from 1,207 million tons recorded in October 2020. KRAS also succeeded in cutting the variable cost by 10% from October 2020 of USD 63 per ton to USD 57 per ton in October 2021. Furthermore, its fixed cost was also reduced by 8% year-on-year (yoy) from USD 65 per ton to USD 60 per ton.
Karim mentioned that the improved and consistently increasing performance of Krakatau Steel was due in part to the management’s success in restructuring and transformation processes. “In the future, Krakatau Steel had secured a long-term master plan, which would simultaneously maintain the said positive performance,” he added. (AM/ZH)