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Home arrow Latest News arrow Sritex Shows Revenue Grows 30% Consolidation of Two New Factories

Sritex Shows Revenue Grows 30% Consolidation of Two New Factories PDF Print E-mail
Written by Maizer   
Friday, 26 January 2018

The garment and textile issuer, PT Sri Rejeki Isman Tbk (SRIL) is eyeing this year's revenue growth of 30%. The company is optimistic that the target will be achieved due to additional contributions from two new companies. "Because of the acquisition, the projection will be translucent at US $ 1 billion, so the top line will rise above 30 percent," said SRIL Corporate Secretary Welly Salam in Jakarta yesterday.


For information, SRIL is currently processing the acquisition of two textile companies, namely PT Primayudha Mandirijaya and PT Bitratex Industries Pte Ltd. Welly said, currently it is completing some other requirements such as the deed of sale and purchase. "The signature may be this February," he continued.


The total sales of both companies are US $ 180 million to US $ 200 million. If the sales projection is consolidated with SRIL, then the SRIL revenue will be boosted. Mentioned, the potential of both companies is estimated to contribute about 20% of the target revenue of 2018. The two acquired companies have sales to the export market of 70%. It also increases the market share of SRIL market later.


The addition of the two companies later, also make SRIL has 1 million spindles. Meanwhile, the need of yarn in Indonesia with the current population of about 3.5 million spinning eyes. "That means we have about 30%," he added.


As for the target year 2017 yesterday, the company re-belief optimistic can be exceeded. Last year, SRIL targeted revenue growth of 10% -12%. In the past year, SRIL is targeting revenues of approximately US $ 745 million to US $ 762 million. The target is considered to have been achieved. "It's already above US $ 762 million, but for the bottom line, there is no picture, the point is our projection in 2017," he said.


Then SRIL also budgeted capital expenditure or capital expenditure (capex) this year of US $ 25 million to US $ 30 million. This fund is a necessity to meet Sritex plant equipment. Budgeted Capex, continued Welly, will be used for maintenance of machine spare parts and technology upgrades. "Garment is labor-intensive, so the capital is not too big, US $ 25 million-US $ 30 million for maintenance," Welly said.


He added that the capex is only for SRIL factories currently operating. That is, the capex, not including capital expenditures for two candidates to be acquired. Capex, sourced from the company's internal cash. "Based on financial reports, their funding needs are small, around US $ 5 million for maintenance," Welly added.



Sritex Bidik Pendapatan Tumbuh 30% Konsolidasi Dua Pabrik Baru



Emiten garment dan tekstil, PT Sri Rejeki Isman Tbk (SRIL) membidik pertumbuhan pendapatan tahun ini sebesar 30%. Perseroan optimis target tersebut bakal tercapai karena adanya kontribusi tambahan dari dua perusahaan baru. "Karena ada akuisisi, proyeksinya akan tembus di US$ 1 miliar, jadi naik top line di atas 30%. Yang pasti, penjualannya akan naik," kata Sekretaris Perusahaan SRIL, Welly Salam di Jakarta, kemarin.


Sebagai informasi, SRIL memang tengah memproses akuisisi dua perusahaan tekstil, yakni PT Primayudha Mandirijaya dan PT Bitratex Industries Pte Ltd. Welly menyatakan, saat ini pihaknya tengah menyelesaikan beberapa persyaratan lain seperti akta jual beli. "Tanda tangan mungkin Februari ini," lanjutnya.


Lanjutnya, total penjualan kedua perusahaan tersebut US$ 180 juta sampai US$ 200 juta. Jika proyeksi penjualan tersebut dikonsolidasikan dengan SRIL, maka pendapatan SRIL akan terdongkrak. Disebutkan, potensi kedua perusahaan diperkirakan bisa memberikan kontribusi sekitar 20% dari target pendapatan 2018. Kedua perusahaan yang diakuisisi tersebut memiliki penjualan ke pasar ekspor sebesar 70%. Hal ini juga sekaligus menambah porsi ekspor pasar SRIL nantinya.


Penambahan dua perusahaan itu nantinya, juga membuat SRIL memiliki 1 juta mata pintal (spindle). Sementara, kebutuhan benang di Indonesia dengan populasi saat ini sekitar 3,5 juta mata pintal. "Berarti kami sudah sekitar 30%," imbuhnya.


Sementara untuk target tahun 2017 kemarin, perseroan kembali menyakini optimis dapat terlampaui. Tahun lalu, SRIL membidik pertumbuhan pendapatan sebesar 10%-12%. Pada tahun lalu, SRIL membidik pendapatan sekitar US$ 745 juta sampai US$ 762 juta. Target tersebut dinilai sudah tercapai. "Sudah di atas US$ 762 juta, tapi untuk bottom line, belum ada gambaran. Intinya masuk proyeksi kami di 2017,"ungkapnya.


Kemudian SRIL juga menganggarkan belanja modal atau capital expenditure (capex) tahun ini sebesar US$ 25 juta sampai US$ 30 juta. Dana ini merupakan kebutuhan untuk memenuhi peralatan pabrik Sritex. Capex yang dianggarkan, lanjut Welly, akan digunakan untuk maintenance spare part mesin dan upgrade teknologi. Pihaknya juga sedang menambah kapasitas dari sebelumnya 27 juta potong, menjadi 30 juta potong."Garment kan padat karya, jadi capitalnya enggak terlalu besar. US$ 25 juta-US$ 30 juta untuk maintenance,"jelas Welly.


Dia menambahkan, capex tersebut hanya khusus untuk pabrik SRIL yang saat ini beroperasi. Artinya, capex tersebut, belum termasuk belanja modal untuk dua calon perusahaan yang akan diakuisisi. Capex itu, bersumber dari kas internal perusahaan. "Berdasarkan laporan keuangan, kebutuhan dana mereka kecil, sekitar US$ 5 juta untuk maintenance," imbuh Welly.

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