Profile

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)

Location

Contact Details

Jalan Kalibutuh 189-191
Surabaya - 60173
Phone: +62 31 532 0921
Fax: +62 31 531 0712
Email: [email protected]
www.spindo.com