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Indo Acidatama saw a revenue decline in Q1 2022

09 May 2022 08:27

JAKARTA – PT Indo Acidatama Tbk (SRSN), a basic chemical industry company, reported sales of IDR 189.63 billion in Q1 2022, sliding off from IDR 219.19 billion recorded in the same period in 2021. The downturn was visible in all market segments as the COVID-19 pandemic went on.

In the Financial Statement of Q1 2022 quoted Monday (9/5), Budhi Moeljono, President Director of Indo Acidatama, mentioned that the sales in the domestic market shrank from IDR 156.22 billion to IDR 146 19 billion, as did the sales in the export market from IDR 63.97 billion to IDR 43.44 billion.

In Q1 2022, ethanol contributed the highest sales, amounting to IDR 151.79 billion. It was followed by acetic acid of IDR 34.31 billion, fertilisers of IDR 1.20 billion, denatured alcohol/spirit of IDR 1.05 billion, CO2 of IDR 299.63 million and other products of IDR 969.36 billion.

The customers with over 10% contribution were Tanduay Distillers Inc of IDR 39.31 billion and PT Nippon Shokubai Indonesia of IDR 30.15 billion.

The company’s gross profit reportedly clocked up to IDR 25.10 billion, decreasing from IDR 37.77 billion in Q1 2021. Its operating profit of IDR 10.45 billion also turned into an operating loss of IDR 1.79 billion. This resulted from other income that was depleted from IDR 2.61 billion to IDR 454 million. In the end, its current year’s loss reached IDR 4.33 billion, massively dropping from the current year’s profit in Q1 2021 of IDR 2.74 billion. (LK/ZH)

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