Aneka Gas Industri Tbk (AGII), Indonesia’s largest gas company, has released its Q3 2017 financial results for the nine months ended on 30th September 2017, with a 47% increase in net income to Rp 67bn ($5m).
The increase in net income was accompanied by an 11% increase in net revenue of Rp 136bn ($10m) to Rp 1,332bn ($98,000).
Rachmat Harsono, the Vice-President Director of PT Aneka Gas Industri Tbk, stated that, “Overall, our company registered a number of positive growth in the third quarter of 2017. The sales growth in the third quarter of 2017 was mostly attributed to the Infrastructure (49%) Consumer Goods (19%), and Medical (12%) sectors compared to the same period in 2016. This sales growth corresponds with increased government spending in infrastructure, which is estimated at Rp 387,3 trillion ($29m) for 2017.”
AGII’s gross profit increased 9% in the third quarter of 2017 to Rp 714bn ($53m) while operating profit increased 2% to Rp 279bn ($21m). The company’s EBITDA grew 16% to Rp 479bn ($35m) in the third quarter of 2017 thereby resulting in net income of Rp 67bn ($5m), or a growth of 47% compared to the same period in the previous year.
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