JAKARTA - PT Asia Pacific Fibers Tbk (POLY) recorded revenues of US$ 260.96 million throughout 2020, a decrease compared to 2019 of US$ 400.53 million. This was conveyed by Vasudevan Ravi Shankar, President Director of PT Asia Pacific Fibers Tbk (POLY) in the 2020 Financial Statements quoted on Monday (29/3).
He conveyed that the decline in sales occurred in all market segments, namely, sales in the domestic market of US$ 201.86 million and exports of US$ 56.63 million, while in 2019 sales in the local market were recorded at US$ 308.26 million and exports of US$ 88.41 million.
From the operational perspective, the main contributor to POLY's revenue in the domestic market came from Yarn products at US$ 90.28 million, followed by Fiber at US$ 89.28 million, Chips at US$ 18.16 million, and spinning (fleece) US 4.35 million. In the export market, Yarn sales were recorded at US$ 42.78 million, Chips at US$ 9.79 million, Fiber at US$ 2.96 million, and Fleece at US$ 1.07 million.
The decline in revenue also had an impact on the gross profit performance which was recorded at US$ 10.50 million, lower than the 2019 gross profit of US$ 27.54 million. Losses increased to US$ 20.54 million from the 2019 loss of US$ 11.91 million. (LK/LM)