GLVA records a 30.35% increase in net profit amidst the pandemic
Jakarta, 20 June 2022 - PT Galva Technologies Tbk (“GLVA”) held the Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) which were held at Galva's head office in Central Jakarta. The meeting was attended by all of the Directors and Commissioners of GLVA along with shareholders who attended the webinar virtual and physically by complying with health protocols.
At the AGMS, the Company announced a dividend of Rp. 8,- per share, or 33.33% higher than the previous year's total dividend of Rp. 6, - per share, which will be distributed to shareholders cum cash market dividend per share dated June 30, 2022.
From Financial Performance, the Board of Directors report stated that the performance of the Company's three business units, namely Business Solutions, Document Solutions, and IT Distribution amid business constraints that limited the rate of sales growth, was still able to record an increase in net profit of 30.35% compared to 2020, which was booked a total net profit of IDR 39.69 billion in 2021. And this value is also 19.08% higher than the 2019 net profit, which was 2 years ago before the pandemic occurred. This achievement is something to be proud of considering that all sectors are still being hit by the COVID-19 pandemic which still continues in 2021.
Sales of the Document Solutions unit as the Company's mainstay in providing recurring income resulted in a growth of 13.67% from the previous year, this growth was influenced by the increasing need for accelerated digitization in business document solutions, both in the private and government sectors, the positive impact of the new normal situation arising from COVID19 pandemic.
The Company's profitability ratios are reported to be in excellent performance, with equity ratios depicted by ROE (Return on Equity) of 17.28% and 15.31% in 2021 and 2020, and ROA (Return on Assets) ratios of 6.41% in 2021.
Through the presentation of the Company's Cash Flow Statement, it was reported that the Company optimally absorbed capital expenditures (Capex) in 2021 and 2020 of Rp. 32.8 billion and 10.6 billion, which were used for capital expenditures on productive assets to grow recurring income for the Company with high gross profit margin and become one of the pillars of the business unit that boosts the Company's net profit during the pandemic and in the future.
In the EGMS, the Company also plans to diversify its Medical Equipment products in order to increase providing organic growth through the addition of product variants and strategic partnerships with reliable
partners. Through a Feasibility Study conducted by KJPP Doli Siregar & Partners as an independent appraiser registered with the OJK to provide an opinion on the plan for additional business activities, KJPP concluded that the addition of supporting business activities is financially feasible and the addition of supporting business activities is feasible to be conducted.
About PT Galva Technologies Tbk (“GLVA”)
PT Galva Technologies Tbk (“GLVA”) is a leading regional partner for IT Electronics products and solutions in the technology and digital fields, with more than 30 years of business experience and distribution of marketing networks in more than 250 cities districts throughout Indonesia as well as the ability for after-sales service that are available in more than 12 major cities. Through three pillars of different business units: Business Solutions, Document Solutions and IT Distribution, prioritizing the vision as a company that provides the best products for consumers, the best work environment for every employee and provides real benefits to society.
Finance Director / Corporate Secretary
PT Galva Technologies Tbk
Phone: 6221 3511677