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PUBLIC EXPOSE
PT. PELANGI INDAH CANINDO,TBK ( PICO )
JAKARTA, 25 JUNI 2025
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Daftar isi : v COMPANY PROFILE v PRODUCT OVERVIEW v FINANCIAL & OPERASIONAL PERFORMANCE v FINANCIAL PROJECTION v BUSINESS PLAN
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1983 Establishment of PICO ( business of general cans for paint, cookies, general chemicals
etc ) - 1st factory
1986 Supply of lubricant cans to Pertamina
1989 2nd factory in Cimone Start supplying lubricant drums to Pertamina
1990 3rd factory establisment in Cikupa Start supply LPG cylinders to Pertamina
1993 4th factory in Surabaya Supplying lubricant steel drums to Pertamina Gresik
1994 5th Factory to supply lubricant steel drums to Pertamina Cilacap and Aspalt drums to
private companies
1995 ISO 9001 certification
1996 IPO PICO
2000 Start supplying to world leading lubricant brands ( Castrol, Agip, Total, Shell, Idemitsu,
Nippon Oil etc )
2015 UN Mark Quality certification for steel drums
2017 Plastic Drums factory establishment ( supply to BASF, Archroma, KAO, DIC, etc )
2018 UN Mark quality certification for Plastic drums
2018 Automated UV Can Printing line & Pail Can line
2019 New Investment of Four Color UV Printing Machine
2019 New Investment of Plastic Drum
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•Steel drum 209 litres
( for lubricating oil and packaging food
grade
Production Capacity
75,000 Drum / Month
Plastic Drum à FOH / DLR / SLR
Production Capacity
25,000 Drum / Month
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* Metal Printing
Production Capacity
5000 sheet / Hours
• Metal Packaging
Production Capacity
2000 Pailcan / Hours
* Metal Battery Jackets
Production Capacity 50,400,000 pcs / Month
We curenttly have 3 machines
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HUMAN RESOURCES
31 DESEMBER 2024
BISNIS UNIT JUMLAH TK GENDER STATUS
L P TETAP PKWT Outsource
PIC 1 42 22 20 34 5 3
Pic 2 Cimone 175 158 17 85 9 81
Pic 3 Cikupa 93 87 6 49 14 30
PIC 6 Cilacap 62 60 2 8 15 39
Total 372 327 45 176 43 153
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Historical Financial Performance
80,000 700,000
IDR Mio (Net Income, EBITDA, Gross Profti)
60,000 600,000
40,000
500,000
IDR Mio (Sales)
The Decrease of Sales due to the high price of raw
20,000 materials and lack of working capital
400,000 o Historically, sales in 2021 and 2022
- experienced a significant increase due to an
increase in sales of drum products such as
300,000 steel drums and plastic drums. In addition, the
(20,000) Company also shifted its focus on selling pail
can products due to rising raw material prices
200,000 and limited working capital.
(40,000)
• Achievement of performance in 2023-2024 is
quite good with an increase in sales, net
(60,000) 100,000 income and ebitda.
• Performance achievements in 2023-2024 will be
better due to increased sales, net profit, and EBITDA..
(80,000) -
2020 2021 2022 2023 2024 • The projection for 2025 is expected to be even better
Net Income -64399 -48357 8905 3970 4632
EBITDA -6269 1331 33181 30103 41749
Grosss Profit 12191 16614 60843 52603 66779
Sales 308444 455741 549570 547818 600291
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Historical Product Performance
Sales Contribution Sales are dominated by steel component products
in 2021-2024
o Historically, the Company has sold several
products, namely Steel Drum, Asphalt Drum, Pail
Can, Plastic Drum, Metal Jacket and Printing
Services.
o Steel Drums provides the largest sale contribution
with a total of 72,16 in 2021, 68,21% in 2022 and
73,7% in Y2023, 74,6% in Y2024, while the second
largest contributor came from Stell Component
Product with an average sales of 11,73% in 2021,
13,93% in 2022, 11,8% in Y2023 , 11,7% in Y2024.
Shifting to focus more on steel drum
production due to increase in demand and
higher profitability
o In 2021 up to now, the Company have focus its
business plan for Steel Drum production due to its
higher margin as well as to fulfill Pertamina’s and
Shell’s demand, which maintain the Steel Drum sale
contribution from 2021 at 72,16% to 68,21% in
2022 and 73,66% in Y2023., 74,6% in Y2024,
• Plastic Drum in 2022 increase 9,4% in 2021 to
10,55% in 2022 , 10,4% Y2023. and 8,5% Y 2024.
o Steel Component products are products that do
not require any further assembly production
process, which can be sold directly to the similar
companies. These products are relatively lower
margin in comparison with other products
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Historical Sales Performance Improved sales performance of steel drums Y 2023 and 2024 the drum product market experienced an increase in sales performance. o Under normal conditions, demand for canned products from the consumer goods sector during Eid Mubarak is higher, in 2024 demand is increase . o Y 2023 Sales of Pail Can and Metal Printing products decreased significantly due to high raw material prices, so the company reduced Pail Can production., but Y 2024 Sales of Pail Can dan Metal Printing product Incrased.
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FINANCIAL HIGHLIGHT
(In 000 rupiahs)
Description 2021 2022 2023 2024 2025-P
Actual Actual Actual Actual Projection
Total Revenue 455.740.836 549.569.631 547.818.227 600.290.597 732.874.215
Gross Profit 16.614.443 60.843.209 52.602.740 66.778.592 110.935.470
Net Profit (48.356.764) 8.904.522 5.659.644 2.767.225 38.000.492
EBITDA (6.032.581) 26.501.405 24.918.768 41.749.000 46.504.000
DSR (Ebitda/liabilities) (93,1) 25,9 15,5 11,75 11,95
Net Profit to Equity (25,5%) 4,5% 2,7% 2,2% 5,9%
Current Ratio 0,55 2,37 2,09 1,58 2,16
DER (Debt to Equity Ratio) 0,52 1,73 1,71 1,71
3,31
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REVENUE PROJECTION
(in 000 rupiahs)
Description 2021 2022 2023 2024 2025-P
Actual Actual Actual Actual Projection
REVENUE
• Steel Drum 328.882.239 374.837.288 403.518.181 448.249.300 488.259.999
• Plastic Drum 43.168.066 58.006.657 56.881.356 50.309.347 68.826.441
• Pail Can 5.461.875 10.599.367 4.627.023 8.571.433 5.598.698
• Metal Jacket 14.497.973 11.138.312 12.233.725 23.087.407 14.802.808
• Printing Services 10.261.483 18.431.931 5.940.435 23.087,407 14.802.808
Material & Metal
• 53.469.200 76.556.076 64.617.506 69.708.926 78.187.182
componen
Total Revenue 455.740.836 549.569.631 547.818.227 600.290.597 662.860.055
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Current Condition
Factors Description
• PICO has held the Pertamina contract for a period of 3 years with total
Amount
• The company gradually increased sales of Steel Drums and focused on
• Sales Contract with Pertamina selling other products and adjusted selling price.
• Increase in demand for cans from consumer products sector such as
• The High price of Raw Materials
External biscuits cans, wherein under normal condition, seasonal demand for biscuit
Factor cans increase during Eid Mubarak.
• Increase of Customer Demand
• Increase in demand for metal drums due to the increase in consumer's
purchasing power in the automotive sector.
Internal • The increase in sales volume causes the gross profit margin to increase.
Factor
• Increase in Economics of Scale • Working capital requirements increase due to increased sales volume and
price of raw materials.
• The Lack of Working Capital
• Payment of homologation obligations since June 2022-Dec 2024 is
• Homomogtion (PKPU) proceeding according to schedule.
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Business Plan
Business Plan
• The company will focus on producing Steel Drums and increasing sales of Steel
Drums at a competitive selling price which is believed to provide higher profitability.
Focus on steel drums
production/sales and • Utilization of steel drums sales production in 2023 have only reached 60% and in
increase sales to new 2024 reached 70% of production capacity. In the future, the Company will focus on
markets increasing steel drums production with a higher target utilization rate at 75%
• For the target market, the Company strives to serve the production of steel drums
including avtur fuel packaging, and to serve customers at more competitive prices. In
addition, there was an increase in production demand by private customers, namely
Shell.
• The decline in Pail Can sales in 2020 up to 2024 was due to high raw material prices
which impacted the Company's profitability and caused the Company to shift its
Pail can Product and to focus to other profitable products. Due to this, starting in 2025, the Company has
increase metal jacket sales no plans to increase Pail Can sales.
by exploring new markets
• Metal jacket sales also decreased since 2021 and going forward the company will
continue to strive to increase sales by proposing several battery companies such as
Panasonic battery.
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Numbers of Staff : 530 staffs
ISO 9001 : 2015 CERTIFICATE
UN Mark CERTIFICATE UN 1 MM & CERTIFICATE UN 0,9 MM
Health and Safety procedure
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Certified of HAS-23000
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Certified UN MARKING for Steel drum 209 litres
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Certified UN MARKING for Plastic drum DLR
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