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CORPORATE ACTION - JAKARTA. PT Sarana Mitra Luas Tbk (SMIL) has reported a revenue of IDR 97.5 billion, marking a 55.2% annual increase in the first quarter of 2024. In the same period in 2023, SMIL's revenue was IDR 62.8 billion.
The company's CEO, Hadi Suhermin, attributes this performance to the growing momentum of the manufacturing industry in Indonesia, which is currently in an expansion phase.
At present, SMIL boasts a fleet of 1,530 electric forklifts, representing about 40% of SMIL's total fleet, a number that is set to increase. The company aims to boost the proportion of electric fleets to 70% to enhance overall company performance.
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"The trend of using electric forklifts is expected to rise in line with the need for ESG implementation, and also the positive economic impact it can provide to its users," said Hadi in his statement on Thursday (2/4).
After ending 2023 with remarkable achievements, SMIL aims to continue moving forward with relentless innovation.
One of the significant steps taken is product diversification. In 2024, SMIL's business is not only focused on forklift rental but also on becoming an authorized dealer for HELI forklifts, one of the world's largest forklift companies.
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In addition, SMIL will venture into the development of Automated Guided Vehicles (AGV) forklifts, a sophisticated and flexible automation innovation.
"This step aims to increase efficiency in handling goods and reduce damage costs, in line with customer needs in the era of the industrial revolution 4.0," said Hadi.
As of March 31, 2024, Sarana Mitra Luas' gross profit reached IDR 40.7 billion, a 78% increase compared to the same period the previous year, which was IDR 22.8 billion.
This achievement is also reflected in the operating profit, which reached IDR 28.9 billion, a 151.3% increase from the previous year's IDR 11.5 billion.
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Meanwhile, the company's net profit reached IDR 26.9 billion as of March 31, 2024, a 202.2% increase from the previous year's IDR 8.9 billion.
From a financial balance perspective, at the end of March 2024, SMIL's total assets reached IDR876 billion, a 0.11% decrease from the end of December 2023, which was Rp 877 billion.
Meanwhile, the company's liabilities in the same period reached IDR 162 billion, down 14% from the end of the previous year, which was IDR 190 billion. On the other hand, the company's equity at the end of March 2024 reached IDR 714 billion, a 3.9% increase from the end of December 2023, which was IDR 687 billion.
