Jakarta On October 24, Silmy Karim, chairman of Krakatau Steel, Indonesia's central state-owned enterprise, announced that sales in the third quarter of this year made a profit, up 20% from the previous quarter, but still 30% lower than the previous year.
The chairman said that in the first half of this year, the net income of Krakatau Iron and Steel Company was 553 million US dollars, which was 21% lower than the same period last year. Among them, Indonesian steel sales were 4.35 billion US dollars and exports were only 700 million US dollars. The company's performance has gradually improved. The net profit in the first half of the year was 4.5 million US dollars, which was several times higher than the same period last year.
The chairman added that after the Indonesian government issued a policy to protect the iron and steel industry in Indonesia, for example, the project construction must contain at least 40% of Indonesia-produced components (TKDN) and steel products must comply with Indonesian standards (SNI), which will help the company’s performance development. In addition, Krakatau Iron and Steel Company conducts optimized management to increase production rate, reduce production costs, and expand downstream industries.
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