2023 (Q4)

Short MD&A

Key movements in Q4/23

Y-on-Y highlights, Q4-2023 against Q4-2022:

  • Sales volume has increased by 16%, driven by growth in both domestic and export sales. Export sales volume accounted for 30%, up from the prior year’s 28% of total sales.
  • Sales revenue has decreased by 4%, mainly attributed to the decrease in the average selling price by 18%.
  • Cost of Goods Sold has decreased by 6%, from lower raw material costs.
  • The value and margin of EBITDA have increased by 42% and 39%, respectively, from lower Cost of Goods Sold.
  • Loss for the period has decreased by 18%, from decreased in the average selling price and higher interest expenses.
  • Total liabilities has increased by 4% from working capital’s increase, while Total Debt has increased by 5% from the declined in gross profit margin, impacted by lower sales prices.
  • Debt/Equity has increased by 21%, due to lower equity which was attributed by the Loss for the period.

Q-on-Q highlights, Q4-2023 against Q3-2023:

  • Sales volume has increased by 20%, contributed by 62% higher export sales volume. Export sales volume accounted for 30%, up from the prior quarter’s 22% of total sales.
  • Sales revenue has increased by 20% primarily due to an increase in the sales volume by 20%.
  • Cost of Goods Sold has increased by 15%, from an increase in the production volume by 20%.
  • The value and margin of EBITDA have increased by 60% and 67%, respectively, from increased sales revenue.
  • Loss for the period has decreased by 14%, from higher sales and gross profit margin.
  • Total liabilities and debt have increased by 3% and 1%, respectively, due to higher working capital assets during seasonal festivities.
  • Debt/Equity has increased by 5%, due to lower equity which was attributed by the Loss for the period.

Y-on-Y highlights, FY-2023 against FY-2022:

  • Sales volume has decreased by 1%, contributed by 12% lower domestic sales volume. Export sales volume accounted for 31%, up from the prior year’s 23% of total sales.
  • Sales revenue has decreased by 29%, primarily due to declining average selling price by 28%, and a slight decrease in the sales volume.
  • Cost of Goods Sold has decreased by 22%, from lower raw material costs and a decrease in production volume by 6%.
  • The value and margin of EBITDA have decreased by 109% and 113%, respectively, mainly due to domestic market condition.
  • Profit (Loss) for the period has decreased, from lower average selling prices and higher interest expenses.
  • Total liabilities has increased by 4% from higher working capital, while Total debt has increased by 5% from the declining gross profit margin, impacted by lower sales prices.
  • Debt/Equity has increased by 21%, due to lower equity which was attributed by the Loss for the period.

Notes:

  • On 31 December 2023, the Total Debt of IDR 6,360 billion consisted of around USD 92 million and IDR 4,950 billion.
  • Cost of Debt (Pre-Tax) has been increased in Q4-2023, from 5.8% (Q2/23), 6.1% (Q3/23), to 6.4% (Q4/23). The increase was mainly due to rising USD and IDR loan’s reference rates.

2023

Title
Fajar Quarterly Highlight Q1 2023
1 37 downloads
2023 March 31, 2023
Fajar Quarterly Highlight Q2 2023
1 56 downloads
2023 June 30, 2023
Fajar Quarterly Highlight Q3 2023
1 37 downloads
2023 September 30, 2023
Fajar Quarterly Highlight Q4 2023
1 14 downloads
2023 December 31, 2023

    2022

    Title
    Fajar Quarterly Highlight Q1 2022
    1 46 downloads
    2022 March 31, 2022
    Fajar Quarterly Highlight Q2 2022
    1 31 downloads
    2022 June 30, 2022
    Fajar Quarterly Highlight Q3 2022
    1 31 downloads
    2022 September 30, 2022
    Fajar Quarterly Highlight Q4 2022
    1 52 downloads
    2022 December 31, 2022

      2021

      Title
      Fajar Quarterly Highlight Q1 2021
      1 124 downloads
      2021 March 31, 2021
      Fajar Quarterly Highlight Q2 2021
      1 33 downloads
      2021 June 30, 2021
      Fajar Quarterly Highlight Q3 2021
      1 51 downloads
      2021 September 30, 2021
      Fajar Quarterly Highlight Q4 2021
      1 40 downloads
      2021 December 31, 2021

        2020

        Title
        Fajar Quarterly Highlight Q1 2020
        1 30 downloads
        2020 March 31, 2020
        Fajar Quarterly Highlight Q2 2020
        1 22 downloads
        2020 June 30, 2020
        Fajar Quarterly Highlight Q3 2020
        1 25 downloads
        2020 September 30, 2020
        Fajar Quarterly Highlight Q4 2020
        1 36 downloads
        2020 December 31, 2020