Skyrocketing, GLVA Achieves Net Profit Growth of 122%
Jakarta - PT Galva Technologies Tbk (GLVA) managed to boost a positive performance in the third quarter of 2022 by achieving a consolidated net sales of IDR 1.73 trillion or 55% growth compared to the same period in the previous year. With this achievement, GLVA successfully increased its consolidated Net Profit to IDR 51.59 billion or grew by 122%.
The growth of consolidated net sales at the end of the third quarter of 2022 was contributed by the Company's business unit, IT Distribution, which recorded sales of IDR 1,206.09 billion, showing 68% growth from the same period of the previous year. Sales of the Business Solutions business unit also grew 45% to IDR 451.71 billion, as well as Document Solutions business unit with recorded sales of IDR 74.45 billion, all business units contributed positively in achieving net profit in the Third Quarter of 2022.
The financial performance reviewed from the Company's financial ratios also reflects a good improvement in profitability with operating margin of 5.55% as of September 30, 2022, up 2.07 percentage points compared to 3.48% as of September 30, 2021, EBITDA also increased by 1.84 percentage points from 4.54% in the Q3 of 2021 to 6.38% in the Q3 of 2022.
This achievement is the result of the company's good performance by continuously focusing on digital transformation in carrying out the main strategy as an agent of change in accelerating digital adaptation with information technology orientation, by marketing digital and comprehensive solutions, while at the same time continuing to improve the skills of business units that focus on essential and relevant market segments.
"In the midst of world turmoil, by God’s grace and the contribution of all stakeholders, in the third quarter of 2022 GLVA was able to grow significantly. We will continue to implement innovative strategies in each unit line with enthusiasm and keep exercising prudence principles in order to achieve sustainable and competitive growth in the company. We believe this step will provide optimal results for the company, as well as for all stakeholders," said Oki Widjaja, President Director of PT Galva Technologies Tbk in a statement (01/11/2022).
Meanwhile, PT Libera Technologies Indonesia ("LITE) as a subsidiary of GLVA also recorded a positive performance by achieving revenue of Rp 253 billion in the first year, therefore giving a positive contribution and business prospects in developing an e-commerce business model with the main focus on business to government (B2G). Synergize in supporting the government's program in Increasing the Use of Domestic Production (P3DN) by presenting products that are Domestic Component Level (TKDN) certified to provide added value for products needed by the government, especially presenting TKDN products for the TOA brand sound system, as well as other Technology and Information products under the GTC and LIBERA brands.
Taking a peek at GLVA's projected financial performance in the fourth quarter of 2022 amidst various global challenges, the Company forecasted a promising sales and net profit growth, through the best efforts done by all business units and collaborating products and solutions to meet demand by the end of 2022, accompanied by managing Rupiah exchange rate risk against the US dollar which is currently depreciating, as well as practising smart and skillful financial governance that enable the company to close 2022 with results that exceed expectations and are satisfactory for all stakeholders.
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 business solution provider for all customers that goes beyond expectation, become the company that provides the best work environment for every employee, and provides real benefits to society, furthermore provides optimal return for all stakeholders.
Finance Director / Corporate Secretary
PT Galva Technologies Tbk
Phone: 6221 3511677