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9M21 Sales Order Reached IDR4.5 trillion
Sidoarjo, Oktober 28th, 2021
Largest vertically integrated wooden products manufacturer in Indonesia, PT Integra Indocabinet Tbk (WOOD IJ) recorded 9M21 on hand sales order reached IDR4.5 trillion.
Given the strong sales order so far, we estimate 3Q21 revenue to reach IDR1.3 trillion (vs. IDR 751 billion: 3Q20) or grew by 80% YoY, hence will bring the Company 9M21 revenue to approximately IDR3.4 trillion (vs. IDR 1.9 trillion: 9M20) or grew by 82% YoY.
Current global shipping-container shortage and port congestion remains challenging to all industry worldwide. However, we are still able to smooth our shipments by assisting our buyers to get more space and more competitive terms. Additionally, current challenge on global shipping-container shortage and port congestion gives the Company opportunity to expand its export market share as the Company dominantly sources its raw materials domestically hence could offer more competitive selling prices compare to its global competitors.
Recently, the Trade Minister, Mr. Muhammad Lutfi has also set strategies to overcome the challenging situation on the current global shipping-container shortage and port congestion. We expect the situation would gradually improve going forward.
Going into 4Q21, we should expect another strong revenue recognition as surge in demand from furniture segment particularly from the US market would further boost our sales. Therefore, with the strong sales contribution in 4Q21, the Company expect to beat its 2021FY sales target of 50% YoY.
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
This press release has been prepared by PT Integra Indocabinet Tbk (WOOD) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of WOOD. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. Integra disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither Integra nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize; actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.