Revenue Soars 66.8 Percent, Krakatau Steel (KRAS) Reaches Rp1.06 Trillion Profit
PT Krakatau Steel (Persero) Tbk (KRAS) earned a profit of up to Rp. 1.06 trillion until November 2021, with revenues of Rp. 30 trillion, an increase of 66.8% compared to revenue in the same period in 2020.
Krakatau Steel's Finance Director, Tardi said in terms of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in the period up to November this year, the company managed to achieve EBITDA realization of Rp. 2.2 trillion, up 105% compared to EBITDA in the same period. the year 2020.
"We convey the performance of Krakatau Steel until November 2021 to restore market confidence, creditors, vendors that the company's performance is getting better," he said in a press statement, Wednesday, December 15, 2021. , even increased from the profit for the fiscal year 2020. In addition, the company will also meet the payment of debt obligations of US$200 million to three state banks.
The three banks include PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, and PT Bank Rakyat Indonesia (Persero) Tbk. Where this debt obligation will mature in December 2021.
"We are committed to paying these obligations. With the support from the Ministry of SOEs, Krakatau Steel is currently preparing steps so that we can pay these obligations on time," added Tardi.
He said the various strategic initiatives carried out such as efficiency, digitization, and organizational optimization made Krakatau Steel further strengthen its competitiveness in the national steel market. That way, Tardi is optimistic, the company can record performance improvements in each period. Meanwhile, Krakatau Steel (KRAS) Subsidiary Cooperates with Melchers in Port Development, PT Krakatau Steel (Persero) Tbk (KRAS) subsidiary, PT Krakatau Bandar Samudera (PT KBS). ) which operates Krakatau International Port (KIP), cooperates with PT Melchers Melindo Indonesia, a partner of Hamburg Port Consulting, to develop the KIP port.
CEO of Krakatau International Port, Akbar Djohan said that with the target of increasing the number of ships that stop by from 800 to 5,000 ships per year by 2026 at KIP Port, the development of KIP infrastructure and superstructure facilities is very important.
"For the development of KIP's infrastructure and superstructure facilities to be maximized, KIP takes steps to cooperate with PT MMI to ensure that this development can run well," said Akbar in an official statement, Saturday, November 27, 2021. He said that this collaboration with Melchers aims to assist to ensure that port development runs optimally, from the feasibility study process to the funding process, to the implementation of the development.
"This KIP effort is also to capture the market potential in the Sunda Strait, a step that is certainly not kidding. We are preparing the development of the KIP port so that it has more complete facilities for consumer needs so that we can provide the best service for consumers, "said he.
Meanwhile, President Director of Melchers Melindo Indonesia, Michael Gruss said that the trust given by KIP to assist the development of its port is a very good thing for the company.
"We are very happy to be trusted to accompany the development of the largest bulk port of KIP. We are ready to help and ensure that the development of this KIP goes well so that the goal of the best service for KIP consumers can be achieved," said Michael. Melchers Melindo Indonesia itself is a group of C.Melchers GMBH & Co. Bremen, Germany who has 150 years of experience in assisting companies in conducting business development.
Experienced in developing ports in Asia and the world, it is hoped that Melchers can make the development of KIP Ports effective so that KIP's target to be able to serve 5,000 ships per year by 2026 can be achieved immediately. T Krakatau Steel (Persero) Tbk alias KRAS plunges into the industry e-commerce by launching KRASmart Marketplace.
The KRASmart Marketplace is designed to strengthen the company's sales by facilitating the purchase of steel products only through applications that can be downloaded on the Google Playstore or App Store.
"This application is expected to make it easier for our consumers to make purchase transactions anytime and anywhere so that later it will increase sales, productivity, and efficiency of each sales force," said Krakatau Steel President Director Silmy Karim at a press conference, Friday 26 November 2021. Silmy explained that the background for launching this marketplace was the acceleration of digital transformation in various fields, both in public life at large and in industry. Thus, the digital transformation of state-owned companies is an obligation.
This sales platform provides a variety of steel products from Krakatau Steel and the Group from upstream steel products to downstream steel products. So that it will be integrated and consumers can shop for steel products just like the retail marketplace which is generally used for consumer goods.
"This feature, which is more or less similar to a retail marketplace, will bring changes to the steel industry, which has been selling conventionally," continued Silmy.
Silmy explained that the digitalization that took place at Krakatau Steel had a good impact on improving the company's performance. As of October 2021, KRAS recorded a net profit of IDR 1.05 trillion with sales of IDR 26.5 trillion, an increase of 73.19% from the previous IDR 15.3 trillion in the same period in 2020.
"In 2022, we project a sales increase of up to 26 percent, especially with this digital platform, we believe that Krakatau Steel will be able to expand its market share even to new export destination countries as long as they can access the KRASmart Marketplace," said Silmy.