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20240605_IKAI_Laporan Informasi dan Fakta Material_31647366_lamp2.pdf
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IKAI GMS for Fiscal Year 2023.
IKAI Responds to Challenges, Self-improvement to Generate Profit
Jakarta, June 5, 2024 – On Tuesday,
June 4, 2024, PT Intikeramik
Alamasri Industri (IKAI) convened a
General Meeting of Shareholders
(GMS) to demonstrate IKAI's strong
commitment to maintaining good
business governance amidst all of
the changes.
At the Annual General Meeting of
Shareholders for Fiscal Year 2023,
IKAI made several significant
decisions demonstrating their strong
commitment to good corporate governance. Some of these are the business performance report, the
determination of the company's profit and loss, the compensation of the company's board of
commissioners and board of directors, the appointment to a public accounting firm, and the updating
of shareholder data.
Despite challenging situations, PT Intikeramik Alamasri Industri (IKAI) has grown significantly.
Perseverance and learning from unpleasant situations have helped IKAI strengthen its position. IKAI
demonstrates how multiple industries may support one another through a diverse income model that
includes manufacturing, hospitality, and property development. Manufacturing relies on product
quality; Hospitality focuses on hotel attractiveness and services; while Property Development optimizes
the development of its land bank assets.
IKAI has effectively improved its bottom line, from a loss the previous year to a profit of $7 billion in
2023. This is the result of the financial, strategic, and human resource transformations that have been
executed since 2017. This transformation has made a significant contribution to the company's
expansion, allowing for steady improvements in its favorable performance by 2023.
In 2023, IKAI's total revenue at 208.39 billion, with the largest contribution still from the Essenza
porcelain tile manufacturing and trading subsidiary segment. IKAI improved its performance and now
has a comprehensive income of Rp 7 billion. Furthermore, there was a considerable shift in earnings
before interest and tax (EBITDA) performance. EBITDA grew in 2023 compared to 2022, reaching Rp
41.48 billion from Rp 8.59 billion in 2022. Overall, IKAI's profits have increased.
IKAI has implemented some business plans in 2023, such as automating new machines and expanding
sales and distribution networks. In the hospitality industry, IKAI has implemented financial restructuring
and alternative financing to reduce the Group's interest expense while also improving the internal
performance of its hotel subsidiaries.
IKAI intends to maintain organic growth through capacity addition and improved production capabilities
for 2024. From a hospitality standpoint, IKAI targets to boost revenue by adding more managed
properties. IKAI intends to emphasize developing the property region in Ubud, Bali, in the property
development segment.
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The Board Of Commissioners believes IKAI will be resilient in 2023, despite the adverse economic and
building sector conditions. The Board of Commissioners believes that the initiatives made by the Board
of Directors were reasonable, and it anticipates that the consistency of the Board of Directors' business
and operational strategies enacted in 2023 will improve in 2024.
President Director of IKAI, Teuku Yohas Raffli, stated, "With the IKAI Revenue Model which
complements each other and grows harmoniously, we are optimistic that we can achieve sustainable
growth. Stable economic conditions and flexible government policies toward the investment climate
will boost our confidence. We are devoted to pursuing a sustainable strategy that focuses on enhancing
product and service quality management, constant innovation, market expansion, and revenue niches.
IKAI's business model, which focuses on customers and competitors, enables us to consistently improve
shareholder value, aligning with our aim of providing long-term investment development.”
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
Tel: (62-21) 8370 0435
Email : corporatesecretary@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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