An issuer engaged in the textile and textile products (TPT) industry, PT Asia Pacific Fibers Tbk (POLY) projects to earn US$ 400 million in revenue by the end of 2022. Last year, POLY earned US$ 370.34 million, so there is a potential to increase the company's 8% revenue this year. POLY management is also eyeing an EBITDA of US$ 12 million this year. While last year, the issuer's EBITDA was recorded at US$ 11.30 million. Based on the financial report for the first semester of 2022, POLY was able to record revenues of US$ 208.43 million, an increase of 23.60% (yoy). POLY also experienced a surge in net profit attributable to owners of the parent entity by 715.69% (yoy) to US$ 12.48 million.

H. Tunaryo, Corporate Secretary of Asia Pacific Fibers, said that POLY's revenue target is conservative. The textile industry is considered by POLY to have started to recover since last year and is expected to continue to improve throughout this year.

The challenge that is still being felt by POLY at this time is fluctuations in the price of raw materials for upstream textile products. One of them is the movement of world crude oil prices which is quite volatile, especially since the emergence of the Russia-Ukraine geopolitical conflict.

"Our sales composition will remain the same this year, dominated by polymer, then staple fiber, filament yarn, and fleece," said Tunaryo, Tuesday (9/13).

For information, last year POLY produced 282,387 tons of Polymer, 126,069 tons of Staple Fiber, 123,163 tons of Yarn Fillament, and 313 tons of Fleece. To produce these products, POLY has two factories located in Karawang, West Java and Kaliwungu, Central Java.

On the same occasion, Prama Yudha Amdan, Head of Corporate Communication and Public Relations of POLY said, POLY has a strong position in the national textile industry, so it can be a valuable capital for the company to continue to print optimal performance every year.

Currently, POLY's market share for a number of products, such as Staple Fiber and Fillament Yarn, is around 21%. Around 80% of POLY's products are absorbed in the domestic market, but this issuer is also quite present in the global market thanks to its export capabilities which have reached 38 countries.

"The majority of our exports go to Europe, South America and the United States," added Yudha.

He said, the huge market potential still exists in the country. This is because the consumption of textile fiber in Indonesia is around 8.5 kilograms (kg) per person per year on average. In fact, Malaysia, with a much smaller population than Indonesia, has a textile fiber consumption of 12.5 kg per person per year.

“The gap is still around 4 kg, which means that the market potential in Indonesia is still very large. Therefore, additional investment is needed from the textile industry players," he said.

Going forward, POLY Management will continue to focus on boosting value-added production to assist the import substitution program for textile products, as well as increasing value-added products for export abroad.

In addition, POLY strives to develop environmentally friendly textile products that use minimal water and produce minimal waste. POLY also provides technology, process and quality solutions for textile products across segments.

POLY management also believes that the company's business will be more integrated from upstream to downstream when the restructuring process is completed.