On October 21, 2008, Gajah Tunggal received the prestigious Primaniyarta Award from the Ministry of Trade. The Award was presented to Gajah Tunggal by the President Susilo Bambang Yudhoyono at the official opening of Indonesia Tarde Expo. This award recognizes Gajah Tunggal as one of the national companies for the category for best “global brand development.”
Gajah Tunggal posts growth in Revenue for FY2008, but takes large translational forex hit at year end |
In a difficult earning environment, especially in the 4th Quarter of 2008, PT Gajah Tunggal Tbk managed to increase its whole year sales in 2008 by 20% to reach Rp. 7,963bn from Rp. 6,660bn in 2007. While sales revenue showed strength, EBITDA in 2008 decreased to USD 94mn, as significant raw material fluctuations and a lag time in increasing prices before the onset of the economic crisis, pressed gross margin from 17.6% in 2007 to 14.3% in 2008. Operations in 2008 were characterized by steep rises in raw materials in the first three Quarters of the year, as the Company steadily increased installed Radial and Motorcycle capacity . . . . . Read More |
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