28 May 2021
Both top and bottom line are in line with our estimates; TOWR recorded double digit performance in 2020. Revenue (+15.4% yoy) and net profit (+21.1% yoy). Tri was the largest contributor to revenue growth with 36.3%, followed by XL at 33.9%. Tower expansion continues, and we are optimistic that TOWR's performance will grow in 2021.
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24 May 2021
Although MYOR successfully posted strong revenue growth in 1Q21, higher raw material cost caused earnings to contract. As a result, MYOR also booked margin depreciation all across the board. However, we still expect better earnings in the upcoming quarter supported by solid growth of domestic and export sales along with growing demand due to Ramadhan season.
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24 May 2021
INTP booked 1Q21 revenue up 2.2% YoY. Meanwhile, profit fell 12.3% YoY due to the decline in other income and tax expense increases. On the other hand, 1Q21 sales volume was at 4.21 million ton or up 5.5% YoY. INTP was also making cost efficiency by increasing the use of LCV loan and alternative fuel. Meanwhile, INTP also expanded sales through a digital system to the market share throughout Indonesia.
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11 May 2021
BSDE booked 1Q21 marketing sales of IDR2.5 trillion, or achieving 35% of the 2021 target. With this outstanding achievement, we see that it will be easier for BSDE to achieve the year’s marketing sales target. In addition, supported by the “Wish for Home” program, lower interest rate, and various government incentives in the property sector, we believe that BSDE will be able to improve its performance this year.
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10 May 2021
KLBF reported 1Q21 results in line with market expectation. Meanwhile, we view KLBF is still attractive for a long-term investment due to its solid financial position and solid business plans.
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