MEDIA


Date: Wednesday, 27 October 2021

Jakarta, 27 October 2021—Until the third quarter of 2021, PT Acset Indonusa Tbk (ACSET) posted revenue of IDR1.081trillion or an increase of 12.5% from IDR960.73billion compared the same period in 2020. ACSET consistently recorded an improvement on expense and funding costs, led into being able to record a decrease in net loss by 49% from IDR753.38billion to IDR385.82billion.

To this period, ACSET recorded the acquisition of new contracts amounting to IDR369.92billion consisting of foundation, infrastructure and structure projects. All foundation projects are carried out by ACSET's subsidiary, PT Acset Pondasi Indonusa. Foundation work at the JPO of the Kuningan LRT Station and the Shore Protection of PLTU Batang are a case in point. In the infrastructure sector, for instance, ACSET is carrying out Scrap Fill & Overlay (SFO) work. Further, in the structure field, ACSET received a new contract for implementing Cleon Park Garden City Apartment work.

In terms of revenue per business line, this period is dominated by infrastructure sector at 51.4%, construction at 37.6%, foundation at 7.0% and other sectors at 4.0%. Other sectors included trading activities and rental services carried out by subsidiaries.

Main financial indicators (in million Rupiah)

                      Description

                   Period ended on 30 September

                   2021

                  2020

Revenue

              1.080.619 

                960.725

Operating Loss

               (345.254) 

              (489.117)

Loss before Income Tax

               (393,779) 

              (754,067)

Net Loss Attributed to Owners of the Parent

               (385,815) 

              (753,381)

Loss Per Share (full amount)

                   (60) 

                 (564)

 

As of the third quarter of 2021, the Company has completed the Non-Preemptive Rights Capital Increase (NPR Capital Increase), on 27 August 2021, subjected to the Company's shareholders’ approval attained through an Extraordinary General Meeting of Shareholders held on 18 August 2021. Total proceeds from the NPR Capital Increase worth IDR1.5trillion and has been utilized by the Company to improve and strengthen the Company's capital structure in welcoming new contracts in the future.

Amidst the challenging circumstances due to the pandemic, ACSET stays committed to improving performance. Financial discipline for operational excellence is still ACSET's main agenda this year and the Company believes that efforts done internally are still on track to achieve the goal. Continuous review on business process is intensively being rolled out to provide a cost-efficient-oriented service for the customers. They are also being sustained by the Company’s digital initiatives that are expected to establish more reliable infrastructure system for ACSET’s operational activities. ACSET always takes strategic business decisions that can support the Company’s growth in order to give the best for its stakeholders.