Record Profits for AKRA in 2022 Driven by Fuel Trading and Factory Land

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Adi Ahdiat 31/03/2023 17:45 WIB

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PT AKR Corporindo Tbk (AKRA) reported a net profit of Rp2.4 trillion in 2022, a 116% increase compared to the previous year, setting a new record high.

Net Profit of PT AKR Corporindo Tbk (2019-2022)

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Record Profits for AKRA in 2022 Driven by Fuel Trading and Factory Land

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Net Profit of PT AKR Corporindo Tbk (2019-2022)

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PT AKR Corporindo Tbk (AKRA) reported a net profit of approximately Rp2.4 trillion in 2022.

This figure represents a 116% increase year-on-year (yoy), setting a new record high, as shown in the graph.

This year, AKRA also became a new entrant in the LQ45 index for the February-July 2023 period. The LQ45 is a list of 45 issuers selected by the Indonesia Stock Exchange (IDX) based on specific criteria, such as large capitalization and high liquidity.

AKRA is a company engaged in the import and distribution of fuel oil (BBM) since 2005.

Since 2010, AKRA has been a distributor of subsidized fuel oil in cooperation with the Upstream Oil and Gas Regulatory Agency (BPH Migas).

AKRA has also expanded into manufacturing, trading in basic chemicals, engine oil, and managing the Java Integrated Industrial and Ports Estate (JIIPE) industrial area in Gresik Regency, East Java.

In 2022, AKRA's revenue increased by 85% (yoy) to Rp47.54 trillion. The majority came from the trading and distribution segment, amounting to Rp44.70 trillion.

"Significant contributions were also recorded in our industrial estate business, where revenue was supported by land sales and rentals," said AKRA President Director Haryanto Adikoesoemo in a press release on Wednesday (22/3/2023).

Throughout 2022, AKRA's revenue from the JIIPE industrial estate segment reached Rp1.15 trillion, mainly driven by the sale of 44.5 hectares of factory land.

"JIIPE has become a destination for a variety of industries, including electric vehicles, batteries, chemicals, and other heavy industries related to the copper smelter and precious metal processing currently under construction in our area," said Haryanto.

"With more and more industries building factories, we are ready to generate stable and continuously growing revenue in the coming years," he continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."