2022 (Q3)

Short MD&A

Key movements in Q3/22

Y-on-Y highlights, Q3-2022 against Q3-2021:

  • Sales volume has decreased by 19%, contributed by 40% lower export sales volume. Domestic sales volume accounted for 81%, an increase from the prior year 74% to total sales.
  • Sales revenue has decreased by 22% due to a decrease in the average selling price by 4% and a decrease in the sales volume.
  • Cost of Goods Sold has decreased by 18%, from lower raw material costs, energy costs, and a decrease in production volume by 15%.
  • EBITDA’s value and EBITDA’s margin have decreased by 37% and 18%, from higher Cost of Goods Sold.
  • Profit for the period has decreased by 71%, from loss on foreign exchange and higher interest expenses.
  • Total liabilities decreased by 1% from lower Trade Payable, whereby The company purchased 70% of recycled paper domestically compared to previous year’s 61%. Total debt increased by 2% due to higher short-term working capital loans.
  • Net Debt/EBITDA increased by 5% due to higher debt and lower trailing twelve months EBITDA. Debt/Equity decreased by 3% due to higher equity from land revaluation surplus and accumulated incremental net profit in retained earnings.

 

 

Q-on-Q highlights, Q3-2022 against Q2-2022:

  • Sales volume has decreased by 14%, contributed by 36% lower export sales volume. Domestic sales volume accounted for 81%, an increase from the prior quarter 74% to total sales.
  • Sales revenue has decreased by 20% due to a decrease in the average selling price by 7%  and a decrease in the sales volume.
  • Cost of Goods Sold has decreased by 18%, from lower raw material costs, energy costs, and a decrease in production volume by 12%.
  • EBITDA’s value and EBITDA’s margin have decreased by 25% and 6%, from higher Cost of Goods Sold.
  • Profit for the period has decreased by 50%, from loss on foreign exchange and higher interest expense.
  • Total liabilities and debt have decreased by 7% and 5% from shorter days of Trade Receivables, resulting in higher cash collection from customer credit sales compared with the previous quarter.
  • Net Debt/EBITDA has increased by 5% due to lower trailing twelve months EBITDA, and Debt/Equity has decreased by 6% due to lower debt.

Y-on-Y highlights, 9M-2022 against 9M-2021

  • Sales volume has decreased by 6%, contributed by both 6% and 9% decrease in domestic and export sales volume. Domestic sales volume accounted for 79%, an increase from the prior year 78.8% to total sales.
  • Sales revenue has increased by 2% due to increase in average selling prices.
  • Cost of Goods Sold has increased by 5%, from higher raw material costs and energy costs.
  • EBITDA’s value and EBITDA’s margin have decreased by 12% and 14%, from higher Cost of Goods Sold.
  • Profit for the period has decreased by 31%, due to an increase in interest expense due to higher debt amount and cost of debt.
  • Total liabilities decreased by 1% from lower Trade Payable, whereby The company purchased 65% of recycled paper domestically compared to previous year’s 55%. Total debt increased by 2% due to higher short-term working capital loans.
  • Net Debt/EBITDA increased by 5% due to higher debt and lower trailing twelve months EBITDA. Debt/Equity decreased by 3% due to higher equity from land revaluation surplus and accumulated incremental net profit in retained earnings.

Notes:

  • On 30 September 2022, the Total Debt of IDR 6,376 billion consisted of around USD 110 million and IDR 4,706 billion.
  • Cost of Debt (Pre-Tax) has been increased in Q3-2022, from 3.3% (Q1/22), 3.3% (Q2/22), to 3.8% (Q3/22). The increase was mainly due to rising USD and IDR denominated loan reference rates.

2022

Title
Fajar Quarterly Highlight Q1 2022
1 35 downloads
2022 March 31, 2022
Fajar Quarterly Highlight Q2 2022
1 19 downloads
2022 June 30, 2022
Fajar Quarterly Highlight Q3 2022
1 15 downloads
2022 September 30, 2022

    2021

    Title
    Fajar Quarterly Highlight Q1 2021
    1 119 downloads
    2021 March 31, 2021
    Fajar Quarterly Highlight Q2 2021
    1 27 downloads
    2021 June 30, 2021
    Fajar Quarterly Highlight Q3 2021
    1 44 downloads
    2021 September 30, 2021
    Fajar Quarterly Highlight Q4 2021
    1 31 downloads
    2021 December 31, 2021

      2020

      Title
      Fajar Quarterly Highlight Q1 2020
      1 24 downloads
      2020 March 31, 2020
      Fajar Quarterly Highlight Q2 2020
      1 18 downloads
      2020 June 30, 2020
      Fajar Quarterly Highlight Q3 2020
      1 22 downloads
      2020 September 30, 2020
      Fajar Quarterly Highlight Q4 2020
      1 26 downloads
      2020 December 31, 2020