After registering a strong performance for the six months period ended June 30, 2018, Fajar Paper has delivered a record high results for the nine months period ended September 30, 2018 with a highest ever sales and financial performance

Key highlights as compared to the same period in 2017:

o   Production volumes significantly increased to 1,041,000 tons from 734,000 tons.

o   Export sales continues to grow high with nine-month volumes at 317,000 tons from 50,100 tons.

o    Domestic sales volumes also increased to 712,000 tons from 675,000 tons.

o    EBITDA more than doubled to IDR 2,048 billion (USD 145 million) from IDR 839 billion (USD 63 million)

o    Net Income increased three-fold to IDR 867 billion (USD 61 million) from IDR 285 billion (USD 21 million)

All figures are quoted

in Rp billions unless otherwise stated

Nine months to

September 30th, 2017


Nine months to

September 30th, 2018


Net Sales



Gross profit



Operating income




EBITDA in USD millions





Net Income



Jakarta, 15 October 2018: PT Fajar Surya Wisesa TBK (FASW.JK), also known as Fajar Paper, has released its unaudited financial statements for the nine months period ended September 30, 2018.


Fajar Paper continues delivering impressive results in sales and financial performance.  

The enhanced focus on export has rewarded Fajar Paper with full production capacity utilization, greater production efficiencies, and higher sales volumes.  Export sales share increased to about 30% of total sales for the nine-month period ended September 30, 2018, from 6% of total sales for the same period last year. Exports to China continue to be dominant, but at the same time Fajar Paper is also increasing its exports volumes to other markets in neighboring countries like Malaysia, Vietnam, Cambodia, Philippines, South Asia, Middle East and even to Africa. The customer base is now expanded to 22 countries.

Domestic sales have been growing in line with the Indonesian’s GDP & private consumption growth of about 5% plus with improvement in sales price realization. Domestic Sales volumes were higher at 711,900 tons, as compared to 675,400 tons for the same period in 2017, with end use to consumer goods (FMCG), food & beverage, e-commerce markets. The Sales prices for exports and domestic sales recorded an increase of 17% and 8%, respectively, as compared to the same period in 2017. The high-performance light weight paper sales contributed to 72% of total sales as compared to 67% during the same period last year.

We have also been developing the East Java market since last year. Our sales volumes to East Java markets have now already double from the same period last year.

Gross profit margin has increased to 30%, as compared to 17% during the same period last year mainly due to lower recovered paper costs & mix, coupled with better selling prices.  Operating efficiencies with higher capacity utilization have also contributed to the higher margins.  For the nine months period, we have achieved the historical high EBITDA at USD 145 million compared to USD 63 million for the same period last year.

Higher exports in USD, have provided Fajar Paper with a natural hedge towards the depreciating IDR, for its exposures in USD from the import of raw materials and other USD payouts.

PT Dayasa Aria Prima, a 99.99% subsidiary of Fajar Paper, has signed a conditional sales and purchase Agreement with PT Surabaya Agung Industri Pulp & Kertas Tbk and PT Capital Management Indonesia to acquire their land and production facilities in Gresik, East Java for an amount of IDR 742.5 billion.  This acquisition is in progress and expected to be completed by the end of 2018. The new facility, expected to be operational in the early 2019, will provide an additional capacity to Fajar Paper to further penetrate the Export markets, and also, to increase its presence in East Java.


About Fajar Paper:

Fajar Paper is a leading manufacturer of packaging paper in Indonesia. It is Forest Stewardship Council-Chain of Custody (FSC-CoC), ISO 9001, ISO 14001, and OHSAS 18001 certified, as well as a Clean Development Mechanism (CDM) and Joint Credit Mechanism (JCM registered)Fajar Paper has the capability to supply and deliver innovative packaging paper products, with the quality and quantity to cater customer’s needs.

To learn more about this press release, please contact Fajar Paper’s Investor Relations Department, by sending your inquiries to, or +62 21 344 1316.


More information can also be found from our website