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KRAS secured IDR 23 trillion in sales in Q3

01 November 2021 06:06

JAKARTA – PT Krakatau Steel (Persero) Tbk (KRAS) scored sales of IDR 23 trillion in Q3 2021. It multiplied by 41.47%, supported by the increase in demand for main steel products and downstream business growth.

Silmy Karim, President Director of Krakatau Steel, claimed that the sales volume of main steel products, including Hot Rolled Coil and Cold Rolled Coil, and other steel products, like steel plates, jumped 26.9% to 1,592,282 tons from 1,162,535 tons. “The sales of downstream products are boosted by 86.7% to 13,181 tons from 1,743 tons,” he further announced in the press release, quoted Monday (1/11).

This sales increase triggered growth in its net profit to IDR 853 billion, significantly proliferating from the same period in 2020. It used to score a loss of USD 25.87 million or equal to IDR 370,53 billion, assuming USD 1 = IDR 14,320.

Additionally, the management managed to cut the fixed and variable costs by 11% to ID 845.4 billion and IDR 816.7 billion, respectively, from the same period last year. The company’s EBITDA also skyrocketed by 56.1%, from IDR 745.1 billion to IDR 1.7 trillion (LK/ZH)

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