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20250409_IKAI_Laporan Informasi dan Fakta Material_31874164_lamp1.pdf
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IKAI 2024:
A Resilient Year, Turning Challenges into Opportunities
JAKARTA, April 9, 2025 – In 2024, PT Intikeramik Alamasri Industri Tbk (Bloomberg Ticker Code:
IKAI.IJ) faced various dynamics in the industry sectors where it operates. Although the porcelain tiles
industry encountered significant challenges due to rising raw material and industrial gas prices, as
well as tight competition from imported products, the hotel segment showed stability and positive
performance. In response to this situation, IKAI implemented a strategy of synergy across its
complementary and supportive business segments and initiated several strategic plans focused on
optimizing capacity, product innovation, and strengthening strategic collaborations to ensure
sustainable business growth.
Looking at the overall financial performance in the 2024 fiscal year, IKAI recorded operating
revenues of IDR 176.8 billion with a Gross Profit Margin of 47.02%. Total assets stood at
approximately IDR 1.1 trillion, a slight decrease compared to the previous year. The company
maintained its liabilities and equity positions at levels similar to the prior year, with a debt-to-equity
ratio of 0.3 times. Business segment contributions were balanced, with both the porcelain tiles and
Hotel segments each contributing 50% to total revenue. This inter-segment synergy has been a key
factor that helped IKAI withstand industry pressures and economic uncertainty, where the healthy
margins of the hotel sector effectively offset the slowdown in the porcelain tiles segment.
The porcelain tiles segment, with its flagship product Essenza known for strong brand recognition in
the market recorded revenues of IDR 88.3 billion with a Gross Profit Margin of around 18%. This
segment continues to face significant challenges such as substantial increases in industrial gas
prices, rising raw material costs, fierce competition from imported products, and generally slowed
domestic demand for local products in Indonesia. In addressing these challenges, IKAI proactively
pursued product innovation in 2024, including the launch of the Smooth Grip variant, which was well
received by the market. At the same time, the company intensified market penetration through
modern distribution networks such as Mitra10. In addition to overall efficiency improvements, IKAI
is exploring production capacity optimization through strategic joint production partnerships with
selected business partners.
Meanwhile, the hotel business segment, managed through the Swiss-Bel Group with its two flagship
properties Swiss-Belhotel Bogor and Swiss-Belinn Gajah Mada Medan recorded revenue of IDR
88.5 billion with a Gross Profit Margin of around 76%.
The strategic locations of these hotels Bogor as a supporting city for Jakarta’s economic and tourism
activities, and Medan as a key commercial center and strategic hub for access to Singapore and
Malaysia are expected to support the segment’s sustainability. Looking ahead, IKAI plans to
strengthen its hotel segment by developing additional services beyond rooms and meetings, such
as business support services, coworking spaces, and innovative dining concepts, to enhance
customer appeal.
IKAI President Director Yohas Raffli emphasized that the company is fully committed to returning to
its core identity as an investment company through the optimization of its strategic business
portfolio. The company aims to grow sustainably not only through operational routines but also
through strategic initiatives.
A repositioning of the business model will continue to focus on high value-added segments within
selected value chains, efficiency through inter-segment synergies, and optimization and discipline
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in cash flow management ensuring that the company not only survives but is also able to create
long-term maximum value for all shareholders.
About PT Intikeramik Alamasri Industri
PT Intikeramik Alamasri Industri Tbk (IKAI) was established on June 26, 1991, which is one of the largest porcelain tile
manufacturers in Indonesia. The Company started commercial operations in May 1993, with the trademark "Essenza". In
May 2019, the Company added tourism, restaurant and hotel industry into their business activities. IKAI was publicly listed
on the Jakarta Stock Exchange and Surabaya Stock Exchange, which is now the Indonesia Stock Exchange on June 4, 1997.
For further information, please contact
Corporate Secretary
Phone: (62-21) 8370 0435
Email: corpsecretary_legal@intikeramik.com
Website: www.intikeramik.com
This press release has been prepared by PT Intikeramik Alamasri Industri Tbk. ("IKAI") and is circulated for general
information purposes only. It is not intended for any individual or specific purpose and does not constitute a
recommendation regarding IKAI shares. No warranty (express or implied) is made as to the accuracy or completeness of
the information. All opinions and estimates contained in this press release are our judgment as of today's date and are
subject to change without prior notice. IKAI accepts no responsibility whatsoever for the consequences to any individual
or persons as a result of reliance on the whole or any part of the contents of this press release and neither IKAI nor any of
its affiliated companies and their respective employees and agents accept liability for any errors, omissions, or otherwise,
in this press release and any inaccuracies herein or omissions herein that may arise.
Forward-Looking Statements
Certain statements in this release are or may be forward-looking statements. These statements typically contain words
such as "will", "expects" and "anticipates" and similar words. 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 gas industry in Indonesia; prevailing market conditions; increased regulatory
burdens in Indonesia, including environmental regulations and compliance costs; foreign exchange rate fluctuations;
interest rate trends, cost of capital and availability of capital; anticipated demand and selling prices for our developments
and related capital expenditures and investments; construction costs; availability of real estate properties; competition
from other companies and venues; shifts in customer demand; changes in operating costs, including employee wages,
benefits and training, changes in government and public policies; our ability to become and remain competitive; our
financial condition, business strategy and plans and remediation. If one or more of these uncertainties or risks, among
others, materialize, actual results could vary materially from those estimated, anticipated or projected. In particular, but
without limitation, capital costs may increase, projects may be delayed and anticipated improvements in production,
capacity or performance may 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 assurance
can be given that such expectations will prove to be correct. You should not place undue reliance 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
our material content, whether as a result of current information, future events or otherwise.
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