ARNA - PT. Arwana Citramulia Tbk

Rp 745

+10 (+0,68%)

JAKARTA – After securing steady growth within the past two years, PT Arwana Citramulia Tbk (ARNA) plays safe by targeting to secure 9.6% year-on-year (yoy) net profit growth, reaching IDR 631.58 billion at the end of 2023. Furthermore, from the net profit in 2022, ARNA will channel out 70% of them to its investors as dividend.

“This projection was made during the fourth quarter of 2022. There had been a decline in sales at that time due to slow activity in the market,” Rudy Sujanto, Chief Financial Officer of Arwana Citramulia, clarified during the Annual Public Expose of ARNA earlier today (9/3).

According to Sujanto, ARNA aims to record total sales of 70.1 million m2 of ceramics at the end of 2023. However, he said his company still possesses 6.5 million m2 of ceramics ready to be distributed should the market regain its strength in H2 2023. “Therefore, if the market condition improved, the projected sales would increase to 74-74.5 million m2. Our net income will also increase, close to IDR 675 billion or 17% yoy increase,” he added.

Furthermore, Sujanto revealed that in 2022, ARNA’s sales volume actually shrank 1.6% yoy. Its revenue increase was also quite minimum, at 1.2% yoy. However, its revenue in 2022 remained stable due to the increased average selling price (ASP) of 2.9% yoy, bringing it from IDR 37,731/m2 in 2021 to IDR 38,831/m2 in 2022.

For the record, ARNA managed to collect IDR 576.2 billion of net profit in 2022. After scoring 22.4% growth in its net profit, ARNA’s shareholders also agreed upon the decision to distribute dividends of IDR 55 per share at the end of March 2023. Said amount is equal to 70% of the total net profit in 2022. (ZH)