Business News

2021-08-02
Indonesia Petrochemical Profit Jump US$ 165 Million In Mid 2021
PT Chandra Asri Petrochemical Tbk as the biggest petrochemical (ethylene based) until the first semester of 2021 earned a net profit after tax of USD 165 million.

This is huge improvement compared to the same period the previous year which still experienced a net loss of USD 40 million.

"After a strong start in the first quarter, the company was able to take advantage of product spreads, and sustainable operational excellence during pandemic." said Director Chandra Asri Suryandi.

Continued, in the first six months of this year, Chandra Asri recorded a net income of USD 1.26 billion, an increase of 50 percent from USD 839 million in the first half of 2020.

Meanwhile, EBITDA reached USD 275 million, a significant increase from USD 4.5 million in the same period in 2020.

Fifty percent increase in revenue was due to the increase in the average selling price of all range products, especially for ethylene, polyethylene and polypropylene.