JAKARTA - PT Dharma Polimetal Tbk (“DRMA”), an issuer engaged in the automotive component manufacturing business, is optimistic that performance in Semester 2 2022 will continue to improve as the recovery of the automotive industry in Indonesia approaches the conditions in 2019, before the pandemic. According to data from the Association of Automotive Industries (Gaikindo) cumulatively in January-July 2022, wholesale car sales reached 561,287 units. It increased by 22% compared to the same period in the previous year which was only 460,105 units. Wholesale car sales this year were close to sales pre-pandemic period, in January-July 2019 of 570,331 units. The increase in automotive sales will drive demand for automotive components for DRMA products, because the Company is a supplier to large four-wheel and two-wheel automotive manufacturers in Indonesia with sales in Semester 1 2022 amounting to IDR1.59 trillion, an increase of 22%YoY.
“We are grateful that the automotive industry has started to recover along with the increasing mobility of the people. We will continue to innovate by producing new products that are needed by our customers and public, so this year's target of increasing sales and net profit by 20% and 50%, respectively, can be achieved," said President Director of PT Dharma Polimetal Tbk , Irianto Santoso.
To anticipate an increase in demand, DRMA will expand the business by building three new factories and one factory expansion project this year. The development projects are mostly to increase the production of four-wheel vehicle components. DRMA has allocated IDR400 billion fund to support this expansion.
In addition, DRMA also carried out several innovations, including developing opportunities of the electric vehicles' era in Indonesia. The prototype of a three-wheeled electric vehicle under the PowerAce brand has been designed. Likewise with the development of battery pack, battery management system, body, and chassis parts that are in accordance with the specifications of electric vehicles. DRMA has also invested in increasing the capacity of human resources and technology to anticipate the development of electric vehicle trends in the future. (LM)