1st Half 2022 Results PT Steel Pipe Industry of Indonesia Tbk
Jakarta, 29 July 2022 –, PT Steel Pipe Industry of Indonesia Tbk (ISSP) releases 1H 2022 results on July 29th 2022.
ISSP achieved book IDR 3,172.81 billion of net sales, an increase of 44.84% as compared to 1H 2021, despite a challenging trading environment due volatile commodity prices and economic uncertainty. With that, the GPM and NPM for 2Q2022 also improved from 1Q2022 as expected, due to normalizing COGS in the raw material downtrend from 3Q2021. The GPM improved to 16.84% in 2Q2022 from 12.13% in 1Q2022 making 1H2022 GPM of 13.85%. The NPM also improved to 6.1% vs 6,0% in 1Q2022.