PT Alkindo Naratama Tbk (“ALDO”), an issuer engaged in the integrated paper and chemicals business, managed to record a significant revenue increase of 32% year-on-year (YoY) or Rp1.46 trillion throughout 2021. At the same time, ALDO also achieved a net profit attributable to owners of the parent entity of Rp 75.8 billion. This amount is up 50 percent compared to the same period last year which was Rp 50.6 billion.  ALDO's President Director, H. Sutanto stated, “We are grateful that ALDO can exceed the projected sales and profit growth in 2021.

Over the past year, ALDO has managed to achieve an increase in net sales and net profit by 32% and 50% YoY, respectively. We hope that the positive trend of the Company will continue in the future as the prospects for the recycling and packaging paper industry in Indonesia are bright, coupled with the vast opportunities in the Water Based Polymer industry.”

Throughout 2021, the Company's Paper sub-group business became the main contributor to ALDO with a contribution of 65%, of which 38% came from ECO Paper and 27% from Alkindo. Meanwhile, the Company's Chemical sub-group contributed the remaining 35% (17% Swisstex, 18% ALFA). The Paper sub-group has dominated ALDO's net sales since the acquisition of ECO in 2019. Sales in 2021 will still be dominated by the domestic market at 95% and the remaining 5% for the export market.

Sutanto added, "The Company's performance achievements cannot be separated from the Company's innovation and strategy to keep up with changing market trends and meet industry needs, where since the last two years Alkindo has entered the food packaging industry (paper box) and paper bags to support FMCG, food and beverages (F&B) and micro, small and medium enterprises (MSMEs) markets that grew significantly during the pandemic.”

ALDO's Chemical sub-group consisting of PT Swisstex Naratama Indonesia (Swisstex) and PT Alfa Polimer Indonesia (ALFA) remains profitable and supports the Group's business, which will have a positive impact on ALDO's performance in the future. Moreover, the Company has completed increasing the share ownership of the two subsidiaries from 51% to 99% respectively, so that this year ALDO is optimistic that the contribution from the chemical sub-group will encourage even better growth in the Company's performance.

For information, last year's total sales from a subsidiary of PT Swisstex Naratama Indonesia (Swisstex) which is engaged in the textile chemical segment amounted to Rp. 2 billion or an increase of 53% YoY.

“Corporate action in the form of a rights issue aimed at increasing investment and ownership in the Company's Chemical sub-group will also be a positive contributor to the growth of the Company's performance. This year we project to achieve sales growth of 30% and net profit of up to 40%. We are optimistic that we can achieve this target, in line with the high demand from the packaging business for the delivery of the e-commerce industry.” closed Sutanto.