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Revise Up 2020FY Sales Target to IDR2.6tn (21.7% YoY)
Sidoarjo, September 15th, 2020
Largest vertically integrated wooden products manufacturer in Indonesia, PT Integra Indocabinet Tbk (WOOD IJ) revise up sales target for 2020FY from previously IDR2.5tn to IDR2.6tn.
The target revision is based on our sales order achievement that reached IDR2.45tn as of August 2020. The Company expect to see another additional sales order in the coming months. Note that Furniture segment sales order in particular tend to be higher in the 2H and boost our sales.
Concurrently, higher sales order from Furniture segment would likely to support our profit margin, hence we expect to see net margin at 10-12% in 2020FY.
Despite the current pandemic, Integra is still able to book a strong sales order by August 2020 particularly from export sales due to the US implementation of anti-subsidy duty and countervailing duty on China’s wooden cabinet and millwork product. The implementation together with US and China trade tension lead to shortage in both furniture and building component product supply as China was the largest exporter to US Market. Therefore, the situation gives large opportunity for Integra to expand its market share in US market.
About PT Integra Indocabinet Tbk:
Founded in 1989 in Sidoarjo, East Java, PT Integra Indocabinet Tbk is the largest vertically integrated wooden products manufacturer in Indonesia. Integra has established itself as the fastest growing furniture manufacturer with international and domestic accreditation. Integra promotes the use of sustainable resources and supports the livelihoods of local communities. The group employs over 2,500 team members across Indonesia.
For further information, please contact:
E-mail : firstname.lastname@example.org
Tel : (62 31) 891 0434
Website : www.integragroup-indonesia.com