KAYU believes its performance would recover next year
JAKARTA – PT Darmi Bersaudara Tbk (KAYU), a processed wood products manufacturer, estimates its revenue in 2022 to reach IDR 114.6 billion. It aims to bounce back from the stagnant projected revenue for this year of IDR 19.07 billion. The diminishing predicted revenue compared to the realisation in 2020 is due to the pandemic lockdown in export destination countries.
Nanang Sumartono Hadiwidjojo, President Director of Darmi Bersaudara, specifies the forecast of its gross and net profit to reach IDR 19.22 billion and IDR 7.45 billion in 2022. “It is assuming the COVID-19 pandemic cases would have gradually sloped down, and the economic condition, including export, would have been operating as usual,” he adds, as quoted from the information disclosure today (20/9).
According to Hadiwidjojo, this year’s revenue declines because there has been a struggle to revive the export supporting factors due to the Community Activities Restriction Enforcement (PPKM). Until August 2021, sales volume only reaches 44 containers or 891.35 m3 in total, amounting to IDR 4.3 billion. Thus, it leads to the projected gross and net profit of IDR 3.19 billion and IDR 1.23 billion.
Meanwhile, in 2020, the sales could reach IDR 74.08 billion, generating the gross and net profit of IDR 96.24 million and IDR 379.89 million. Last year, 90% of KAYU’s sales were intended for exports, while the remaining 10% went to the domestic market. “The export in 2020 involved 488 containers worth IDR 64.06 billion,” Hadiwidjojo further adds. (LK/ZH)