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Chemical Trading

In the fertilizer and chemical trading business, the Company conducts its business activities through PT Rolimex Kimia Nusamas, a subsidiary. Raw materials of the products are imported from overseas to meet the needs of the Indonesian market. Currently, sales to customers are still dominated by Sinarmas group subsidiaries by as much as 60%.

Revenue in the fertilizer and chemical trading business was mainly supported by fertilizer sales 77.7%, chemical sales 16.2%, and pesticide sales 6.1%. In 2019, the Company recorded an increase in the volume of fertilizer sales by 26.4% to 503,435 tons, compared to 2018 of 398,130 tons. Meanwhile, the sales volume of pesticides and chemicals was recorded at 4,223 kiloliters and 80,613 tons in 2019, increased from the sales volume of pesticides and chemicals in 2018 of 3,617 kiloliters and 70,447 tons.

The Company recorded revenues of USD 214.4 million in 2019, an increase of 26.2% compared to 2018 of USD 169.8 million. The revenue reaches 114.0% from the 2019 revenue target of USD 188.2 million.

In 2019, the fertilizer and chemical trading business recorded an increase in profit by 163.2%, to USD 2.4 million compared to that in the previous year of USD 0.9 million.

In 2019, the Company’s imported fertilizer products from overseas accounted for around 5% of Indonesia’s total fertilizer imports. The sale of fertilizers and chemicals of the Company is to meet domestic demand, which is currently still dominated by Sinarmas group subsidiaries. In the midst of intense competition in the fertilizer and chemical trading bussines, the Company and subsidiaries trying to expand market share beyond the Sinarmas group. For 2020, marketing will be done more aggresively to increase sales of chemicals, among others through the development of specialty products to meet spesific market needs. The Company will seek to maintain the growth of sales of pesticide products, in addition to meet fertilizer needs according to market demand. Considering the price of raw materials of the products atau products raw materials that fluctuates with commodity prices, the Company will seek to manage the raw material inventories effectively.