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LTLS posts positive performance amid global uncertainty

19 May 2022 12:20

JAKARTA - PT Lautan Luas Tbk (LTLS) will hold an Annual General Meeting of Shareholders (AGMS) and an Extraordinary General Meeting of Shareholders (EGMS) on Friday, June 3, 2022. The agenda for the GMS will discuss performance achievements in 2021 and approval of determination of the use of 2021 net profit. It is planned that LTLS will also distribute dividends from the 2021 net profit.

Eurike Hadijaya, Investor Relations of LTLS, said that Lautan Luas' positive performance trend last year continued in the first quarter of 2022. This shows that the Company continues to improve its performance in the midst of global economic uncertainty.

In addition, LTLS also continues to establish itself as a company that has a resilient performance even in the midst of a pandemic. This is reinforced by the increase in the corporate credit rating of PT Lautan Luas Tbk (LTLS) by PEFINDO. The rating increase occurred in the Shelf-Registered Bonds II Phase I 2017, Shelf-Registered Bonds II Phase II Series B 2017, Shelf-Registered Bonds III Phase I Series A and B 2020, and Shelf-Registered Bonds III Phase II Series A and B 2021 to “IdA ” from the previous “IdA-“. The outlook for the company's corporate credit rating is “strong”.

In the last five years, LTLS has distributed dividends with a payout ratio of around 30%. The distribution of dividends shows that the company's sustainable business growth is in line with the long-term strategic direction that has been previously designed.

Alfred Nainggolan, Head of Research at Praus Capital explained that routine dividend distribution needs to be appreciated, management's intention to achieve company goals (Shareholder Welfare) shows how they are concerned about shareholders.

According to him, the impressive 2021 profit increase performance (+271%) in addition to the increase in core business turnover, operational efficiency and a decrease in financial expenses were the biggest contributors. So that the significant increase in profit is accompanied by an increase in the company's profit margin.

For information, LTLS posted revenue of IDR6.6 trillion throughout 2021. This achievement increased 18.6% from revenue in 2020 which was IDR5.6 trillion. With the increase in sales and all the cost efficiencies carried out there is an increase in net profit. LTLS posted a net profit of IDR 279.6 billion. Or an increase of 271.7% from IDR75.2 billion on an annual basis (yoy). (LM)

 

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