Aneka Gas net income rises 47%

IDX-listed PT Aneka Gas Industri Tbk, which distributes gas to industrial customers, said its unaudited net income in the January-September 2017 jumped by 47 percent to Rp 67 billion compared to the corresponding period of last year.

The company said in a statement on Tuesday that the increase in net income was accompanied by an 11 percent increase in net revenue to Rp 1,332 billion from Rp 1,196 billion.

Rachmat Harsono, Vice President Director of Aneka Gas, stated that, ?Overall, our company registered a number of positive growth in the third quarter of 2017. The sales growth in the third quarter of 2017 was mostly attributed to the infrastructure (49%), consumer goods (19%), and medical (12%) sectors compared to the same period in 2016. This sales growth corresponds with increased government spending in infrastructure, which is estimated at Rp 387.3 trillion for 2017.?

Aneka?s gross profit increased 9 percent in the third quarter of 2017 to Rp 714 billion while operating profit (EBIT) increased 2 percent to Rp 279 billion. The company?s EBITDA grew 16 percent to Rp 479 billion in the third quarter of 2017.

As a result of the significant sales and profitability growth, the company booked improved profitability ratios, namely in terms of its gross profit margin, EBITDA margin, EBIT margin and net profit margin for the year, which was respectively at 46 percent, 36 percent, 21 percent, and 5 percent.

?During the first nine months of the year, we added 9 new filling stations that brings the total number of filling stations in our inventory to 95 overall. The performance to date serves as part of our commitment to maintain our position as the market leaders in Indonesia,? Rachmat said.

Editing by Reiner Simanjuntak