Petrokimia Gresik books Rp1.2 trillion profit in 2019

Petrokimia Gresik books Rp1.2 trillion profit in 2019

President Director of PT Petrokimia Gresik Rahmad Pribadi (left). (ANTARA/HO-Petrokimia Gresi/aa)

Gresik, E Java (ANTARA) - State-owned fertilizer company PT Petrokimia Gresik booked Rp1.2 trillion in profit during 2019, or 100 percent of the company's budget plan, with total revenue reaching Rp29 trillion.

"Despite the fact that some of our factories are over 25 years old, we can maintain productivity through various efforts," President Director of Petrokimia Gresik Rahmad Pribadi stated here on Tuesday.

Pribadi noted that the company had ended the year with noteworthy achievement, with fertilizer production touching 4.61 million tons, or 99 percent of its target set in the 2019 budget plan, while non-fertilizer production had reached three million tons, or 105 percent of the target.

Old factories have become a challenge for the company, in addition to the global economic condition, gas availability, and the change in fertilizer subsidy.

"We address the situation by implementing the program of Petrokimia Gresik Business Transformation (TBPG) since early 2019, of which one of the main programs is aimed at production efficiency to transform a challenge into an opportunity in a bid to improve the company's capability," he stated.

Pribadi stated that in 2020, the company will stick to its commitment to meet national allocation of subsidized fertilizers while concurrently bolstering its position in the commercial market, both domestic and export.

"In addition to the government's task to produce subsidized fertilizer, Petrokimia Gresik is expanding its commercial market," he remarked.

The company has a capacity to produce 2.7 million tons of NPK (Phonska) annually, with 85 percent of the market share for subsidized NPK and 10-15 percent of the market share for commercial NPK, he noted.

In the non-fertilizer category, PT Petrokimia Gresik produces rice seeds, decomposer, and probiotic for fish and poultry. Related news: Petrokimia Gresik receives certification from international fertilizer association
Related news: Petrokimia gresik receives Green Proper Awards 2017