2024 (Q3)

Short Management Discussion and Analysis

Key movements in Q3/24

Y-on-Y highlights, Q3-2024 against Q3-2023:

  • Sales volume has slight decreased by 3%, driven by slower export sales. Domestic sales volume accounted for 80%, up from the prior year’s 78% of total sales.
  • Sales revenue has increased by 9%, mainly attributed to the increase in the average selling price by 12%.
  • Cost of Goods Sold has increased by 16%, from increase in production volume, raw material costs, and depreciation expense.
  • The value and margin of EBITDA have decreased, due to domestic market condition.
  • Loss for the period has increased, linked to the higher cost of goods sold compared to the prior year and high interest rates.
  • Total liabilities and debt have increased by 14% and 18%, respectively, due to new facility agreement.
  • Debt/Equity has increased by 50%, due to lower equity which was attributed by the Loss for the period and higher debt due to new facility agreement.

Q-on-Q highlights, Q3-2024 against Q2-2024:

  • Sales volume has slight decreased by 2%, contributed by 20% lower export sales volume. Domestic sales volume accounted for 80%, up from the prior quarter’s 76% of total sales.
  • Sales revenue has decreased by 3% primarily due to a decrease in the sales volume by 2%.
  • Cost of Goods Sold has increased by 5%, from increase in raw material costs, depreciation expense, and repair and maintenance.
  • The value and margin of EBITDA have decreased, due to domestic market condition.
  • Loss for the period has increased, linked to the higher cost of goods sold compared to the prior quarter.
  • Total liabilities and debt have increased by 1% and 5%, respectively, due to higher working capital requirement from the prior quarter.
  • Debt/Equity has increased by 15%, due to lower equity which was attributed by the Loss for the period and higher debt due to working capital requirement.

Y-on-Y highlights, 9M-2024 against 9M-2023:

  • Sales volume has slight decreased by 3%, driven by slower export sales. Domestic sales volume accounted for 76%, up from the prior year’s 69% of total sales.
  • Sales revenue has slight decreased by 1%, mainly attributed to the decrease in the sales volume by 3%.
  • Cost of Goods Sold has increased by 5%, from increase in production volume, raw material costs, depreciation expense, and repair and maintenance.
  • The value and margin of EBITDA have decreased, due to domestic market condition.
  • Loss for the period has increased, linked to the higher cost of goods sold compared to the prior year and high interest rates.
  • Total liabilities and debt have increased by 14% and 18%, respectively, due to new facility agreement.
  • Debt/Equity has increased by 50%, due to lower equity which was attributed by the Loss for the period and higher debt due to new facility agreement.

Notes:

– On 30 September 2024, the Total Debt of IDR 7,435 billion consisted of around USD 81 million and IDR 6,203 billion.

– Cost of Debt (Pre-Tax) has slight increased in Q3-2024, from 6.3% (Q1/24), 6.3% (Q2/24), to 6.4% (Q3/24), in light of the current high interest.

2024

Title
Fajar Quarterly Highlight Q1 2024
1 79 downloads
2024 March 31, 2024
Fajar Quarterly Highlight Q2 2024
1 47 downloads
2024 June 30, 2024
Fajar Quarterly Highlight Q3 2024
1 13 downloads
2024 September 30, 2024

    2023

    Title
    Fajar Quarterly Highlight Q1 2023
    1 56 downloads
    2023 March 31, 2023
    Fajar Quarterly Highlight Q2 2023
    1 76 downloads
    2023 June 30, 2023
    Fajar Quarterly Highlight Q3 2023
    1 57 downloads
    2023 September 30, 2023
    Fajar Quarterly Highlight Q4 2023
    1 48 downloads
    2023 December 31, 2023

      2022

      Title
      Fajar Quarterly Highlight Q1 2022
      1 59 downloads
      2022 March 31, 2022
      Fajar Quarterly Highlight Q2 2022
      1 45 downloads
      2022 June 30, 2022
      Fajar Quarterly Highlight Q3 2022
      1 45 downloads
      2022 September 30, 2022
      Fajar Quarterly Highlight Q4 2022
      1 70 downloads
      2022 December 31, 2022

        2021

        Title
        Fajar Quarterly Highlight Q1 2021
        1 132 downloads
        2021 March 31, 2021
        Fajar Quarterly Highlight Q2 2021
        1 41 downloads
        2021 June 30, 2021
        Fajar Quarterly Highlight Q3 2021
        1 59 downloads
        2021 September 30, 2021
        Fajar Quarterly Highlight Q4 2021
        1 50 downloads
        2021 December 31, 2021

          2020

          Title
          Fajar Quarterly Highlight Q1 2020
          1 40 downloads
          2020 March 31, 2020
          Fajar Quarterly Highlight Q2 2020
          1 29 downloads
          2020 June 30, 2020
          Fajar Quarterly Highlight Q3 2020
          1 32 downloads
          2020 September 30, 2020
          Fajar Quarterly Highlight Q4 2020
          1 42 downloads
          2020 December 31, 2020