JAKARTA - Although PT Krakatau Steel (Persero) Tbk (KRAS) recorded some increase in its revenue, it still showed poor financial performance, due to the increase in several of the company's expenses in 2018.
Based on the company's financial statements, its net income was recorded at US$ 1.73 billion in 2018, up from US$ 1.44 billion recorded in 2017. Its gross profit was recorded at US$ 158.83 million, down from US$ 219.12 million, while its cost of revenue was recorded at US$ 1.58 trillion, up from US$ 1.22 trillion. The company recorded an operating loss of US$ 3.31 million, down from US$ 50.74 million, and its loss for the current year was recorded at US$ 77.16 million, lower than US$ 86.09 million recorded in 2017.
The company's sales revenue on the domestic market came from several products, including of hot-rolled coil (US$ 774.59 million), cold-rolled coil (US$ 391.26 million), wire rod (US$ 56.66 million), steel rod (US$ 73.74 million), steel parts (US$ 36,29 million), steel pipe (US$ 85.21 million), and others (US$ 65.19 million). The company also gained some sales revenue from exports of some of its products, including hot-rolled coil (US$ 39.87 million), cold-rolled coil (US$ 405,000) and others (US$ 599,000). (LK/AR)