IDXChannel – PT Klinko Karya Imaji Tbk (KLIN), a company engaged in the production and trading of cleaning products, has set a sales target of IDR 18 billion for 2023. The retail market segment will continue to be the company’s main focus and revenue driver this year.
This was revealed by the CEO of KLIN, Anggun Satriya Supanji, in a statement on Monday (8/5/2023).
In addition, the company plans to carry out various marketing activities, both digital and non-digital, to increase brand awareness and corporate awareness.
The company is strengthening its expansion in the international market by planning to export mat products to Malaysia in collaboration with MR. DIY Malaysia starting in May 2023. The projected value of KLIN’s inaugural export to MR. DIY Malaysia is IDR 391.5 million with a total volume of 22,000 pieces.
“We are optimistic with the support of MR. DIY Malaysia’s retail network, which has 894 outlets in Malaysia. This will further strengthen the KLINKO brand and accelerate the achievement of sales targets in 2023,” explained Anggun.
Financial Performance in 2022
For information, in August 2022, KLIN conducted an Initial Public Offering (IPO) and raised IDR 23 billion for additional capital to expand its business scale. The IPO funds were used for the addition of fixed assets such as factories, machinery, and raw material inventory.
This had a significant impact on the increase in sales revenue. KLIN’s sales after the IPO in the fourth quarter of 2022 reached IDR 2.2 billion, an increase of 30% from the total sales revenue of IDR 7.5 billion throughout 2022.
The addition of assets from the IPO resulted in KLIN’s total assets growing by 84% to IDR 44.6 billion from IDR 24.2 billion in 2021. In addition, KLIN’s equity also increased by 206% to IDR 33.4 billion from IDR 10.8 billion in 2021.
The growth in assets also led to KLIN’s sales revenue in 2022 increasing by 90% to IDR 7.5 billion compared to the previous year.
In addition to the domestic market, KLIN’s products are also sought after in various countries such as Italy, Singapore, Brazil, Greece, South Korea, Mauritius, Oman, the United States, and Malaysia. Currently, KLIN’s export market contributes 10% of total sales, and it is targeted to increase to 40% in the next five years.
Throughout 2022, KLIN exported 37,711 pieces of its products with a value of IDR 703.56 million. The most exported product was the floor mop. So far, the company has served the international market through private label mechanisms.
This is because KLIN sees the potential for private label products to be more popular among global distributors due to the flexibility of using multiple brands.
KLIN recorded a net loss after tax of IDR 1.08 billion, which was caused by several expense items, including depreciation costs of IDR 871.96 million and an annual land lease expense of IDR 739.14 million.
In addition, the company focuses on strengthening cooperation with modern channels, B2B partners, e-commerce, and improving Human Resources (HR) to support KLIN’s strategy of achieving revenue of IDR 33 billion in 2026.
This HR requirement incurred an expense of IDR 1.2 billion, and the next expense item was the cost of preparing branch offices and supporting warehouses in Bandung amounting to IDR 263.91 million. Bandung was chosen as the location for the supporting warehouse of the company’s products to facilitate faster delivery to the western part of Indonesia.
Nevertheless, the company still recorded a positive EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) profit of IDR 463.59 million in 2022, a 12% increase compared to IDR 415.54 million in 2021.