JAKARTA - During the first nine months of 2021, Chandra Asri has recorded a Net Revenue of US$1,881 million, up 48% compared to US$1,268 million in the same period last year. Net Revenue increased 48.4% YoY to US$1,881.2 million from US$1,268 million in 9M 2020 as a result of higher average selling prices across all products especially for Polyethylene, Polypropylene and Ethylene
EBITDA Year to date September 2021 of US$314 million, up 379% from US$66 million during the same period 2020, due to increased spreads and the realization of the Company's Financial Resilience Strategy. EBITDA margin increased to 16.7%, compared to 5.2% in 9M 2020 reflecting better and healthier margins. CAP recorded a Net Profit After Tax of US$165.7 million, from a Net Loss of US$19 million in 9M 2020 mainly supported by a combination of demand recovery and stronger margins.
“In September 2021, the Company has successfully completed its Limited Public Offering III with Pre-emptive Rights, which has been fully booked by our new major investor, Thaioil. After the rights issue, Chandra Asri's equity position almost reached US$3 billion, with a total Liquidity Pool of US$2.2 billion. With the major milestones in completing the selection of Thaioil as our Strategic Investor and the smooth implementation of this Rights Issue, the Company is moving forward to take a Final Investment Decision (FID) for our second petrochemical complex in 2022," explained TPIA Director Suryandi in an official statement.
TPIA also posted a stronger Liquidity pool of US$2.2 billion consisting of US$1.7 billion in cash and cash equivalents, US$358 million in available Committed Revolving Credit Facility, and US$165.8 million in marketable securities. As of the end of Q3 2021, Net Debt to EBITDA was recorded at -1.7x. (LM)