The Company's gross margins declined from 16.4% in 1H21 to 13.4% in 1H22 as input costs increased due to higher freight and raw material prices. Operating expenses improved as a percentage of sales but did not prevent operating and EBITDA margins to decline in 1H22 compared to 1H21, resulting from the lower gross margins. The Company's EBITDA declined from Rp 852 billion / US$ 59.6 million in 1H21 to Rp 725 billion / US$ 50.5 million in 1H22. The lower operating performance subsequently caused the Company to realize a net loss in 1H22 of Rp 68 billion compared to a net profit of Rp 96 billion in 1H21.
As of the end of 1H22 the Company complied with the financial covenants of the IDR-syndicated facilities.
[Link]
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
PT Gajah Tunggal Tbk published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2022 03:51:01 UTC.