Steel Pipe Industry of Indonesia
PT Steel Pipe Industry of Indonesia Tbk is an Indonesia-based manufacturer of steel pipes and tubes as well as other related products. In the domestic steel pipe market, the company (which has the largest steel pipe production capacity in Indonesia) commands a 30 percent market share.
Profil
Industry Sector | Basic Industry and Chemicals |
Industry Sub Sector | Metal and Allied Products |
Established | 30 January 1971 |
Listed | 22 February 2013 |
Listed Company Code | ISSP |
Listed Shares | 7,185,992,035 |
Dividend | No |
Major Shareholders (>5%) | Cakra Bhakti Para Putra (55.94%) |
Key Subsidiaries | - |
Stock Quote Steel Pipe Industry of Indonesia - ISSP:
Business Summary
The company services a wide variety of industries, including construction, infrastructure, utility, oil & gas, furniture, and automotive. The company’s export markets include Japan, Singapore, Taiwan, USA and Australia. However, it is mainly focused on supplying the domestic market.
The company's product portfolio comprises a wide variety of customized, standard carbon (Spindo) and stainless steel (Tetsura) pipes. Steel Pipe Industry of Indonesia also provides related services which include galvanization, shearing, slitting, and quality control tests. It has six production facilities.
The company owns six production facilities encompassing 30 production lines. In 2013, it held an initial public offering (IPO) on the Indonesia Stock Exchange to secure funds to engage in an aggressive production expansion plan. In 2014, production capacity reached over 40,000 MT of steel pipes per month. The company aims to have doubled its production capacity by 2016-2017.
Steel Pipe Industry of Indonesia has long experience in Indonesia’s steel pipe industry, has the country’s largest steel pipe production capacity, a wide variety of steel products, and certification that it complies with international and domestic quality standards. However, the company needs to import many raw materials making it vulnerable to currency volatility.
Steel Pipe Industry of Indonesia's Financial Highlights:
2011 | 2012 | 2013 | 2014 | 2015 | |
Net Sales | 2,577 | 3,093 | 3,534 | 3,368 | 3,584 |
Gross Profit | 396 | 401 | 605 | 564 | 773 |
EBITDA | 336 | 350 | 468 | 531 | |
Net Income | 111 | 111 | 204 | 215 | 159 |
Income before Tax | 146 | 149 | 251 | 262 | |
Total Assets | 2,643 | 3,283 | 4,394 | 5,443 | 5,448 |
Total Liabilities | 2,099 | 2,514 | 2,459 | 3,138 | 2,895 |
Earnings per Share¹ | 129 | 26 | 28 | 30 | 22 |
P/E Ratio (x) | 5.1 | 8.0 | 8.5 | ||
P/BV (x) | 0.5 | 0.7 | 0.5 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Sources: Spindo Annual Report & Pefindo
Future Forecast Steel Pipe Industry of Indonesia's Financial Highlights:
2014 | 2015 | 2016F | 2017F | 2018F | |
Net Sales | 3,368 | 3,583 | 4,111 | 4,702 | 5,325 |
Operating Profit | 421 | 434 | 629 | 600 | 545 |
Net Income | 215 | 159 | 312 | 268 | 194 |
P/E (x) |
8.0 | 8.5 | 8.6 | 9.9 | 13.7 |
P/BV (x) | 0.7 | 0.5 | 1.0 | 0.8 | 0.8 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Recapital Securities (28/07/2016)
Lokasi
Detail Kontak
Jalan Kalibutuh 189-191
Surabaya - 60173
Phone: +62 31 532 0921
Fax: +62 31 531 0712
Email: marketing@spindo.co.id
www.spindo.com