Indonesia Chemical Company Data

An extensive Internet search for Indonesian companies, with chemically-related businesses, and are also listed on the Indonesian Stock Exchange, identified the 19 companies listed in Table 1.  Also presented in Table 1 are the chemically-related businesses that the companies conduct.

Because the 19 companies are listed on the Indonesian Stock Exchange, financial data for the companies could easily be obtained at the stock exchange's website.  (Click here to go to the website’s page where company financial data can be obtained.)

Tables’ 2 and 3 provide 2014 and 2013 financial data for the 19 companies.  The largest company, in terms of sales, had $2.51 billion in 2014.   Most of the companies are much smaller in sales.  For 2014, the average gross profit margin percentage for the companies was 17% (16% 2013); the average operating income as a percentage of sales was 8% (9%, 2013); and the average net income as a percentage of sales was 5% (7%, 2013).

Table 1
company name	business focus
argha karga prima industry	plastic films
asia pacific fibers	polyester and other fibers production
asiaplast industries	flexible/rigid films, sheets
budi starch & sweetener	cassava-based products
chandra asri petrochemical	petrochemicals
duta pertiwi nusantara	plywood adhesive products
eterindo wahanatama	palm oil and biodiesel
indo acidatama	agri-chemicals ethanol, acetic acid, etc.
indopoly swakarsa	flexible packaging products
indorama synthetics	polyester & other fibers
intanwijaya international	formaldehyde & formaldehyde resins
lautan luas	chemicals production & distribution
polychem indonesia	polyester production
salim	seed & other agri-products
siwani makmur	flexible plastic packaging
soriwi agro asia corporindo	sorbitol syrup and powders
surya esa perkasa	natural gas refining/processing
trias sentosa	flexible packaging film
unggul indah cahaya	alkyl benzene

Table 2
company name	2014 sales usd	2014 gross profit usd	2014 gp margin %	2014 op inc usd	2014 op inc % sales	2014 net income usd	2014 net inc % sales
chandra asri petrochemical	2,460,000,000	117,500,000	5%	24,900,000	1%	18,200,000	1%
salim	1,251,421,880	342,673,135	27%	204,165,273	16%	92,756,775	7%
indorama synthetics	726,100,000	75,200,000	10%	7,800,000	1%	4,000,000	1%
asia pacific fibers	493,600,000	-13,800,000	0%	-81,700,000	0%	-79,900,000	0%
lautan luas	492,472,399	85,229,174	17%	34,961,526	7%	16,811,643	3%
polychem indonesia	449,000,000	-15,800,000	0%	-34,300,000	0%	-24,700,000	0%
unggul indah cahaya	400,100,000	28,300,000	7%	5,300,000	1%	2,600,000	1%
budi starch & sweetener	232,853,797	23,185,012	10%	11,040,482	5%	2,375,376	1%
indopoly swakarsa	229,700,000	37,100,000	16%	13,400,000	6%	4,100,000	2%
trias sentosa	209,769,154	18,041,151	9%	8,865,841	4%	2,517,564	1%
soriwi agro asia corporindo	209,601,874	36,776,514	18%	18,158,247	9%	12,152,894	6%
argha karga prima industry	144,362,663	18,350,619	13%	8,656,741	6%	2,902,308	2%
eterindo wahanatama	83,640,013	175,644	0%	-7,987,621	0%	-12,303,446	0%
surya esa perkasa	39,900,000	25,300,000	63%	13,500,000	34%	10,300,000	26%
indo acidatama	39,544,998	7,803,613	20%	3,245,233	8%	1,212,780	3%
asiaplast industries	24,598,528	3,512,881	14%	1,363,332	6%	802,944	3%
duta pertiwi nusantara	11,107,394	2,835,396	26%	1,438,608	13%	1,212,780	11%
intanwijaya international	9,200,401	1,982,268	22%	953,496	10%	920,040	10%
siwani makmur	1,313,148	618,936	47%	234,192	18%	117,096	9%
averages			17%		8%		5%

Table 3
company name	2013 sales usd	2013 gross profit usd	2013 gp margin %	2013 op inc usd	2013 op inc % sales	2013 net income usd	2013 net inc % sales
chandra asri petrochemical	2,510,000,000	98,000,000	4%	17,100,000	1%	11,000,000	0%
salim	1,233,169,282	273,655,864	22%	164,453,524	13%	58,965,549	5%
indorama synthetics	758,400,000	64,000,000	8%	4,100,000	1%	770,000	0%
asia pacific fibers	565,100,000	-20,600,000	0%	-36,500,000	0%	-30,100,000	0%
lautan luas	532,547,126	86,823,289	16%	25,814,839	5%	11,793,110	2%
polychem indonesia	505,300,000	14,700,000	3%	14,700,000	3%	2,000,000	0%
unggul indah cahaya	439,000,000	45,700,000	10%	22,600,000	5%	10,300,000	2%
budi starch & sweetener	238,555,112	28,572,755	12%	14,486,025	6%	3,983,657	2%
indopoly swakarsa	233,500,000	40,400,000	17%	17,300,000	7%	9,500,000	4%
soriwi agro asia corporindo	197,975,671	36,242,919	18%	25,304,114	13%	15,609,620	8%
trias sentosa	188,782,617	21,924,041	12%	9,016,622	5%	3,064,351	2%
argha karga prima industry	154,424,738	19,463,274	13%	8,431,609	5%	3,212,926	2%
eterindo wahanatama	111,988,114	16,603,213	15%	10,418,795	9%	733,587	1%
surya esa perkasa	42,200,000	27,100,000	64%	18,000,000	43%	12,600,000	30%
indo acidatama	36,428,638	8,013,743	22%	3,705,079	10%	1,485,746	4%
asiaplast industries	26,149,132	4,234,376	16%	325,007	1%	250,720	1%
duta pertiwi nusantara	12,192,404	2,572,198	21%	3,955,799	32%	6,202,990	51%
intanwijaya international	7,540,162	1,662,178	22%	993,593	13%	956,449	13%
siwani makmur	213,576	-287,863	0%	-622,156	0%	-631,442	0%
averages			16%		9%		7%

Here are some comments based on the financial data in Tables 2 and 3 and also based on other information found on the Internet about Indonesia and its chemical industry:

1.  The average gross profit margin percentages are rather low.  For example, gross profit margin percentage averages for US chemical companies are in the upper 20% range.  This likely reflects that Indonesia has few companies yet able to develop unique products that can demand higher gross margins.

2.  The list of chemically-related businesses in Table 1 seem very limited with respect to meeting the chemical product needs of a country the size (about 250 million people) and the income per person (about $3,200) of Indonesia.  That in 2012 , Indonesia had an excess of about $13 billion of chemical-product imports over exports (imports about $23 billion; exports about $10 billion) supports the conclusion that Indonesian chemically-related companies are not yet meeting Indonesia’s needs.