Until the third quarter, Steel Pipe (ISSP) posted a 686.60% profit growth
PT Steel Pipe Industry of Indonesia Tbk recorded fantastic net profit growth. The reason is, the company posted current period profit of Rp 122.24 billion in the third quarter of 2019.
Whereas, previously the pipe producer which owns the stock code "ISSP" only posted a net profit of Rp 15.54 billion in the third quarter of 2018. If calculated, the current period's profit growth recorded by the company reached 686.60% on an annual basis.
On the Sales and Services Revenues side, ISSP also recorded an annual growth of 66.14% (year-on-year / yoy) from Rp 3.38 trillion in the third quarter of 2018 to Rp 3, 60 trillion in the third quarter of 2019.
Most of the company's revenue is supported by sales and services at the domestic level with a portion of around 92.25%. Meanwhile, as much as 7.75% of the remaining revenue is supported by sales and services carried out by the company on an export basis.
PT Steel Pipe Industry of Indonesia Tbk Investor Relations, Johannes Edward said the company's rapid profit growth was caused by a number of efficiency improvement measures undertaken by the company.
"I cannot convey in detail, but the profit growth was caused by inventory management and customer education," Johannes explained to Kontan.co.id, Tuesday (10/29).
When looking at ISSP's third quarter of 2019 financial statements, the increase that occurred at ISSP expense items was indeed far below the company's revenue growth.
In cost of revenue, for example, the increase in ISSP's cost of revenue was only recorded at 4.42% yoy, from Rp 2.98 trillion in the third quarter of 2018 to Rp 3.12 trillion in the third quarter of 2019.
As a result, ISSP posted a gross profit of Rp 488.97 billion. This figure is 23.07% higher than the gross profit in the same period in the previous year which was only Rp 397.29 billion.
Johannes said that ISSP will continue to defend and improve the company's performance in order to achieve the targets the company has set this year.
To note, this year ISSP is targeting revenue growth of 20% and significant margin improvement compared to last year.
Until the third quarter, ISSP has absorbed as much as 70% of this year's capital expenditure (capex) budget of Rp 50 billion. According to Johannes, most of the uptake is only used for maintenance purposes.
Meanwhile, capex budgeted for next year is estimated to be in the range of Rp 50 - Rp 100 billion. Like this year, most of the capital expenditure for next year will be used to finance the needs of asset maintenance or maintenance.
Canopy installation often looks simple, but in reality requires high accuracy, especially in material selection. One of the main causes of less than optimal canopy results is the use of Galvanized Hollow Pipe (GI) with imprecise dimensions.
Pemasangan kanopi sering kali terlihat sederhana, namun pada kenyataannya memerlukan ketelitian tinggi, terutama dalam pemilihan material. Salah satu penyebab utama hasil kanopi yang kurang maksimal adalah penggunaan Pipa Hollow Galvanis (GI) dengan dimensi yang tidak presisi.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) made another achievement by winning the Best Stock Awards 2025 in the Sectoral category - Middle Cap Raw Goods Sector. This prestigious award was given by Investortrust and Infovesta Utama in an event held at The Sultan Hotel, Jakarta.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali mencetak prestasi dengan meraih penghargaan Best Stock Awards 2025 dalam kategori Sectoral - Sektor Barang Baku Middle Cap. Penghargaan bergengsi ini diberikan oleh Investortrust dan Infovesta Utama dalam sebuah acara yang digelar di The Sultan Hotel, Jakarta.
Referring to the Financial Services Authority Regulation No.36/POJK.04/2014 dated 8 December 2014 concerning the Sustainable Public Offering of Debt and/or Sukuk Securities and in connection with the plan of PT Steel Pipe Industry of Indonesia Tbk to conduct a Sustainable Public Offering of Sustainable Bonds II SPINDO Phase III Year 2025 and Sustainable Sukuk Ijarah II SPINDO Phase III Year 2025, We hereby convey Summary Additional Information, related to the planned issuance of Bonds and Sukuk Ijarah.
Menunjuk pada Peraturan Otoritas Jasa Keuangan No.36/POJK.04/2014 tanggal 8 Desember 2014 tentang Penawaran Umum Berkelanjutan Efek Bersifat Utang dan/atau Sukuk dan sehubungan dengan PT Steel Pipe Industry of Indonesia Tbk untuk melakukan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan II SPINDO Tahap III Tahun 2025 dan Sukuk Ijarah Berkelanjutan II SPINDO Tahap III Tahun 2025, dengan ini kami menyampaikan perubahan informasi tambahan ringkas yang diperlukan penerbitan Obligasi dan Sukuk Ijarah tersebut.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) made another achievement by winning the “Best Sustainability-Linked Bond” award at The Asset Triple A Awards-ASEAN/DEAL Awards for the Sustainable Finance 2025 category.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali mencetak prestasi dengan meraih penghargaan "Best Sustainability-Linked Bond" dalam ajang The Asset Triple A Awards-ASEAN/DEAL Awards untuk kategori Sustainable Finance 2025.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) once again made a proud achievement in the international arena by winning the Best Sustainability-Linked Transaction 2024 award at the 18th Annual Deal & Solution and ESG Awards 2024 held by Alpha Southeast Asia, a leading financial institution based in Hong Kong.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali menorehkan prestasi membanggakan di kancah internasional dengan meraih penghargaan Best Sustainability-Linked Transaction 2024 dalam ajang 18th Annual Deal & Solution and ESG Awards 2024 yang diadakan oleh Alpha Southeast Asia, lembaga finansial ternama yang berbasis di Hong Kong.