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Home arrow Latest News arrow Pan Brothers Aim for 15% Increase in Sales


				
			
			
Pan Brothers Aim for 15% Increase in Sales PDF Print E-mail
Written by Maizer   
Wednesday, 18 December 2019

PT Pan Brothers Tbk. (PBRX) is targeting sales for textile products to reach US $ 675 million by the end of 2019. The target is 10-15 percent higher than the company's sales in 2018. Pan Brothers Deputy Director Anne Patricia Sutanto said that as of the third quarter of 2019, the company's textile product sales had reached US $ 491.9 million or equivalent to Rp6.8 trillion.

 

The sales realization increased 10.02% compared to the same period the previous year of US $ 447.1 million. As for 2020, the company targets their sales to increase by 10-15 percent.

 

"Our sales in 2019 were dominated by garments by 94%, which also constitutes the majority of exports. While domestic is only around 6%," said Anne in a public exposure on the Indonesia Stock Exchange, Jakarta.

 

The garment supply companies for Adidas and Uniqlo said their sales performance was driven by rising exports to the United States (US) as a positive impact of the China-United States trade war.

 

Pan Brothers exports to the United States until September 2019 reached US $ 184.9 million or grew 37.6% (year to date / ytd). Meanwhile, throughout 2018 exports to the US grew 25.5% from the previous year.

 

Capital Expenditures

 

Meanwhile, PBRX is preparing capital expenditure (capex) of US $ 15 million in 2020, up from 2019 of US $ 14 million. This capex comes from internal cash.

 

Anne also revealed that this textile producer will use capex for modernization, automation and the purchase of new machines.

 

Until now there are no corporate action plans for next year,

 

Anne revealed, in 2020 PBRX will add two new brands for their export destinations to the United States which are part of the PVH Corporation. The two brands are Tommy Hilfiger and Calvin Klein.

 

To date, Pan Brothers has absorbed capex 2019 of US $ 12.5 million for modernization of machines, automation and digitalization of new machines.

 

TPT Industry Growth

 

On the other hand, Anne Patricia Sutanto who is also the Deputy Chairperson of the Indonesian Textile Association (API) views the Indonesian textile and textile product (TPT) industry as having a great opportunity to continue to grow.

 

Anne sees Indonesian textile exports less than 2% of total world textile demand, or only US $ 13.2 billion in 2018. This amount is relatively smaller compared to other countries such as China US $ 277 billion, Vietnam US $ 38 billion, and Bangladesh US $ 39 billion .

 

"It should be with the potential of the existing workforce and seeing China that will shift from the manufacturing industry in the next 20-30 years, the opportunity to grow is huge," said Anne.

 

At present, Indonesia's TPT export market share to the world is still at 1.7%. In 2030, said Anne, this market share will be boosted by the government to 5% or US $ 48.2 billion.

 

Anne was optimistic that the textile industry would get support from the government. Considering that in 2018, the Ministry of Industry had included TPT in the five priority industrial sectors for the implementation of industrial system 4.0.

 
		
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