ICBP – Pinehill Acquisition Leads to Strong Performance
While we predict rising raw material price and weakening IDR will still continue this year, strong sales contribution
PTPP – FY20 Performance Below Estimates
PTPP had a declining performance in FY20. Revenue and profit fell 36% YoY and 86% YoY. Meanwhile, PTPP managed to
PURA – Addressing the High Costs of Logistics
PURA posted a solid financial performance throughout 2020, marked by an increase in revenue (+8.5% yoy) and net profit
PTBA – FY2020 Result Below Expectations
In 2020, PTBA managed to record a top line of IDR17.3 trillion or down by 20.5% YoY and 2.7% below our expectations. It
BMRI – Focus on NIM Recovery and Asset Quality
Throughout 2020, BMRI booked a -37.7% YoY net profit decline; to IDR 17.1 Tn (vs IDR 27.5 Tn in FY19). On top line side,
UNTR – Lower Sales Volume in 2020
UNTR’s top line fell by 28.5% throughout 2020 to over IDR60.3 trillion, resulting in bottom line of IDR6 trillion, or
SMGR – Production Cost Efficiency, FY20 Profit Grows
SMGR booked FY20 income of IDR35.17 trillion or down 12.9% YoY due to decrease in sales volume by 7.9%. However, SMGR
BBRI – Increasing Micro Segment Contribution
BBRI booked a decline in net profit to IDR 18.6 Tn (-45.8% yoy) throughout 2020. Net Interest Income (NII) dropped by
ISAT – Tower Sales Expected to Improve Bottom Line
Throughout 2020, ISAT booked top line growth of 6.9% YoY. But, financial costs and changes from fair value of
