Chandra Asri revenue could reach USD 2.5 billion in 2021
JAKARTA. The management of PT Chandra Asri Petrochemical Tbk (TPIA) projected that this year’s revenue could reach up to USD 2.5 billion following the recovered performance after being hit by the COVID-19 pandemic.
Suryandi, Director of Chandra Asti Petrochemical, stated that the revenue estimation is higher than the actual revenue prior to the 2019 pandemic, which reached USD 1.88 billion. This is possible due to the revived business activities, already evident by the end of H1 2021. In the said period, TPIA managed to score USD 1.26 billion in revenue, soaring 50% from the revenue realisation in the same period in 2020 of USD 839.3 million.
The higher selling price in all product lines, especially in the ethylene, polyethylene, and polypropylene products, as well as increased sales volume that reaches 1.1 million tons, had allowed TPIA to secure this satisfactory result. Moreover, at the same time, the production capacity was also elevated to 93% from 89% reported in the same period last year. Suryandi specified these achievements during the Capital Market Summit & Expo (CMSE) yesterday (14/10).
Meanwhile, on the bottom line, TPIA was seen scoring a net profit of USD 164.38 million. This performance managed to turn the table around, surviving the loss that TPIA had experienced in the same period in 2020 of USD 40.12 million. (AM/ZH)