PICO Increase Sales Volume
PICO Increase Sales Volume. Pelangi Indah Canindo, Tbk (PICO IJ) pursued sales of IDR 800 billion or rose about 10% compared to project sales achievement last year. The target is to be pursued even if the product’s selling price falls due to price shootout among producers. Pelangi Indah Canindo saw trends in the demand for drum products, canned packaging and metal printing lately climbed.
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In addition to, the trigger is a drop in steel raw material price. Not to mention, numerous customers also potentially add orders following an expansion plan for production capacity. Some big customers are like Shell Indonesia, Repsol and some chemical industry companies. The expansion of the production capacity of some big customer potentially increase the demand of products produce by the company, said Anton Hidayat, Corporate Secretary of Pelangi Indah Canindo.
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Furthermore, according to 3Q19 financial statement, Pelangi Indah Canindo has made three large customers with a transaction value of more than 10% of the total revenue. The three are Pertamina (Persero), Intipelangi Drumasindo and Prajamita Internusa. But the price drops in steel raw material poses other challenges.
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Moreover, Pelangi Indah Canindo felt, the industry competition of steel packaging increasingly tight because the business actors are cheaper price. So, Pelangi Indah Canindo follows the market direction, lowering the product sales price by more than 8% since January 2020. Pelangi Indah Canindo understands, the decision to decline the selling price will impact on the acquisition of sales.
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As well as, net profit can also be erode because the sales margin is reduce. Therefore, they will strive to offset the potential for impairment of sales by spur sales volumes. Throughout the 2020, Pelangi Indah Canindo pursue an increase in the minimum sales volume of 10% YoY. The Target is equivalent to a production volume of 5,000 tonnes per month.
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In addition to, Pelangi Indah Canindo will spur non-steel packaging products. Information only, the company is developing a plastic drum production facility with a capacity of 200 liters. The Target market is the chemical industry actors. Another challenge of Pelangi Indah Canindo this year is the fulfillment of raw materials.
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Furthermore, the origin of the tofu, about 20%-40% of the total needs of cold rolled steel or cold rolled coil (CRC) they come from China. As it is known, the coronavirus outbreak was engulf in the country, and its impact spread to the economic sector. The management of Pelangi Indah Canindo estimates that the occurrence of a coronavirus outbreak could interfere with the supply of raw materials.
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So far, the average needs of cold rolled coil raw materials of Pelangi Indah Canindo reach 5,000 tons per month or about 60,000 tons per year. That way, China’s import cold rolled coil feed stock is approximately 1,000-2,000 tonnes per month or 12,000 tons per year. To anticipate the potential disruption of the raw material supply of cold rolled coil imports from China, Pelangi Indah Canindo will divert the order to other cold rolled coil suppliers from domestic and overseas.
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Moreover, suppliers are consider their considerations such as Krakatau Steel, Tbk (KRAS), Pohang Iron and Steel Company (Posco) of South Korea or Indian suppliers. Again peeping the financial statements of the period of nine months ago, the name Krakatau Steel & Posco Indonesia has been list as one of the biggest suppliers with a transaction value of more than 10% to the total purchase of raw materials and auxiliary materials. Last, other major suppliers include Intipelangi Drumasindo, Marubeni Itochu Steel Indonesia and Mitsui Indonesia.
