JAKARTA. PT Tridomain Performance Materials Tbk (TDPM) recorded a decline in sales of 27.39% Year on Year (YoY) in the first half of 2020 to US$ 110.67 million, due to the impact of the COVID-19 pandemic.
TDPM's management explained that the decline was due to the low sales in the domestic and export markets. During the first semester of 2020, sales in the domestic market declined by 28.15% YoY to US$ 97.43 million. Export sales also declined by 33.79% YoY to US$ 10.74 million.
Due to the massive decline in sales, TDPM has also carried out efforts to cut expenses, from the cost of goods sold (cut by 31%), manufacturing expenses (11.36%), and selling expenses (20.63%).
As of mid-August 2020, TDPM management stated that its production line was still operating as usual. However, employees at the head office still follow the Work From Home (WFH) protocol.
In the second semester of 2020, TDPM management will try to make adjustments in various lines. Starting from the marketing strategy, distribution strategy, and spending patterns. (KR/AR)