Tigaraksa Satria (TGKA) Aims for Rp 15 Trillion in Revenue by 2024

CORPORATE STRATEGIC - JAKARTA. PT Tigaraksa Satria Tbk (TGKA) is aiming for positive business growth this year. Management hopes that consolidated revenue can reach around IDR 15 trillion.

Tigaraksa Satria's Corporate Secretary Syahrizal Sabir stated that the revenue target of IDR 15 trillion is equivalent to a growth of about 6%-8% compared to revenue in 2023. Unfortunately, TGKA cannot yet provide details regarding the financial performance of 2023.

“We cannot provide definite data on TGKA's revenue and profit realization for 2023 here, as we are still waiting for the publication of the audited financial report for the 2023 fiscal year in March 2024,” Syahrizal revealed to Kontan.co.id, Thursday (7/3).

To maintain business growth this year, TGKA strives to achieve organic growth from old principals. This strategy is implemented by improving the distribution process, so that product availability at outlets is better maintained, increasing outlet coverage, and equally important is the support of promotional activities from the principal.

In addition, TGKA also continues to add new principals whose products are of quality with competitive prices, and are needed by the community.

Syahrizal added, TGKA is currently also focused on increasing area coverage & adding SKU/product types from Cold chain products which still have many opportunities to be developed.

“Some of the activities we do in this business line include increasing public awareness of Cold chain products, and increasing sales through new distribution channels,” he concluded.

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In the third quarter of 2023, TGKA's revenue was IDR 10.84 trillion or an increase of about 11.61% compared to the same period in 2022.

In detail based on segments, the largest contribution came from the sale of milk, snacks and household needs worth IDR10.41 trillion. Then the sale of educational books worth IDR208.59 billion, and revenue from the sale of gas (LPG), stoves and blenders worth IDR220.59 billion.

TGKA recorded a net profit for the year attributable to the parent entity of IDR345.46 billion, or an increase of 7.44% year-on-year (yoy) compared to the third quarter of 2022 which was IDR321.55 billion.

Editor: Syamsul Azhar