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ISSUER NEWS - JAKARTA. PT Steel Pipe Industry of Indonesia Tbk (ISSP) or Spindo stated that the export sales prospects in 2024 are quite stable. This is in line with the realization of export sales in 2023 which managed to increase compared to the previous year.
The Corporate Secretary of Steel Pipe Industry of Indonesia, Johannes W. Edward, stated that ISSP management is targeting export sales volume this year to reach 30,000 tons or equivalent to 8%-10% of the total company sales.
“Our steel exports are actually quite stable, maybe the exports that have dropped are from the stainless steel type related to improvements at the Tsingshan factory,” Johannes revealed to Kontan.co.id, Monday (29/1).
He mentioned that ISSP's export performance also managed to grow last year, both in terms of volume and value. This is claimed to be encouraging, considering the average global HRC price has dropped by about 14%.
So far, ISSP has supplied its products to several countries such as the United States, Canada, Australia, and East Timor. ISSP will also continue to strive to expand its export market to other countries.
In the 9 months of 2023, ISSP recorded a net profit of IDR 363.7 billion or grew by 24.2% from the same period in 2022 which was IDR 293 billion.
In terms of sales, throughout the 9 months of 2023, ISSP still managed to record a sales volume increase of 4.7% amid the pressure of falling steel prices, resulting in a sales value of IDR 4.8 trillion, or an increase of 0.5% YoY.
