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PT Krakatau Steel improves performance in 2018

Steel News - Published on Mon, 15 Apr 2019

Image Source: Netral English
The company is slowly continuing to improve performance from year to year. In 2018, there has been an increase in net income along with the increase in the number of sales volume. Net income increased by 20.05% YoY to USD 1,739.54 million, while sales volume increased by 12.84%, amounting to 2,144,050 tonnes of steel compared to the same period last year of 1,900,075 tonnes. Director of PT Krakatau Steel (Persero) Tbk Silmy Karim said that "During the year 2018, the Company felt enough to increase the selling price of steel products. The average selling price of HRC products increased by 10.03% to USD 657 per tonne, CRC rose 6.72% to USD 717 per tonne, and Wire Rod increased by 15.03% to USD 635 per tonne. This is one of the characteristics that the domestic steel market is improving.”

Towards the end of last year, the Company also signed an agreement with a number of state-owned enterprises working on domestic steel use for projects run by the government. This is expected to improve the Company's performance going forward. For the Jakarta-Cikampek or Japek II elevated toll road construction project the Company's Elevated Toll Road steel supply as of December 2018 has reached 151,090 tonnes.

Source :

Posted By : Rabi Wangkhem on Mon, 15 Apr 2019
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