Several export-oriented issuers that market their products to the United States (US) have started to record an increase in sales, one of which is the textile company PT Pan Brothers Tbk (PBRX).
Pan Brothers Corporate Secretary Iswar Deni said export sales to the US increased 3 percent. "The company's export conditions to the US are good in 2020, up 3%, this year it looks like it could be above 10%," he said.
Iswar added that the portion of sales to America was 27 percent of the total revenue last year which was US$ 684.89 million. Until the end of 2021, PBRX targets revenue growth of 10% of total sales 2020. This issuer also allocates capital expenditures of US$ 5 million to US$ 10 million for maintenance capex, in the form of adding special machines.
In addition to PBRX, a listed company engaged in the furniture and wood industries, PT Integra Indocabinet Tbk (WOOD) also recorded an increase in sales to the US.
Integra Indocabinet Corporate Secretary & Head of Investor Relations Wendy Chandra said the US economic recovery will certainly have a positive impact on the company. The reason is, so far the US is a contributor to WOOD sales.
In the first quarter of this year alone, sales contribution to the US market accounted for 92% of WOOD's total sales. The total sales of Integra Indocabinet in the first quarter reached Rp 912 billion, up 89.2% yoy.
"Therefore, what we see is not order recovery, but a very rapid increase in orders. In April 2021, Integra recorded incoming sales orders reaching Rp 2 trillion," he said.
This year, WOOD has set a sales growth target of at least 25% compared to last year. For the record, in 2020, WOOD sales can grow strongly by 39% yoy to Rp 2.9 trillion.
For this year, WOOD allocates capital expenditure or capex of Rp 100 billion-Rp 120 billion for production capacity expansion and maintenance capex. However, Wendy has not mentioned details regarding this production capacity expansion.