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PT Samator Indo Gas AGMS approves dividend distribution totalling Rp 33.1 billion
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The members of the Board of Commissioners and Directors of PT Samator Indo Gas TBK attend the company’s Annual General Meeting of Shareholders on Monday.
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n Monday, the largest Indonesian industrial gas company, PT Samator IndoGas Tbk (AGII) held its Annual General Meeting of Shareholders (AGMS) for their financial year of 2023 at the Westin Jakarta.
Held both offline and online, the AGMS was conducted using a platform provided by PT Kustodian Sentral Efek Indonesia, namely their KSEI Electronic General Meeting System.
The meeting discussed 7 key agenda proposals, which consisted of 6 annual agenda items, some of these being approval of the company’s annual report, the use of its net profit, the appointment of a public accounting firm and the ratification of the realization of their report regarding the use of proceeds from public offerings as of Dec. 31, 2023.
Alongside these, the meeting also had one agenda item that covered the changes in the company’s article of association, which links to additions to AGII’s business activities and changes for its board duties and authorities.
Most notably, the meeting resulted in the approval of cash dividends amounting to Rp 33.1 billion, which equates to around 20 percent of AGII’s 2023 net profit attributable to the parent entity. Its total profit for 2023 was approximately Rp 165.41 billion, which means that respective shareholders will receive dividends that amount to Rp 10.8 per share.
Rachmat Harsono, president director of AGII, stated the following during the meeting: “This dividend distribution is a form of our appreciation and gratitude towards the support from our shareholders. We are committed to maximizing our performance to maintain shareholders’ trust in our business.”
In 2023, AGII recorded total sales of Rp 2.82 trillion, an 8 percent increase on the previous year’s sales. Moreover, their gross profit reached Rp 1.30 trillion, with the current year’s profit hovering at Rp 169 billion.
Regarding AGII’s 2023 financial performance, Rachmat said, "Despite tough global economic conditions, Samator once again managed to prove its resilience by achieving sales growth that exceeded the national GDP growth.”
He also detailed that the company’s sales growth was driven by developments in all business sectors, but mainly the infrastructure sector. Rachmat noted that the medical sector in particular experienced positive growth after going through post-COVID normalization last year, and that due to AGII’s persistence in exploring new strategic cooperation with new partners, alongside its continuous cultivation of relationships with hospital networks, they managed to perform well in 2023.
Moreover, during the meeting, Rachmat added that in 2024, AGII is predicted to achieve improved sales growth with the addition of its new filling station and the near completion of its Batang plant construction project.
"To date, the completion progress of the Batang plant has reached more than 85 percent, with an expected commissioning date of August or September 2024. Upon commissioning, Batang Plant will be Samator's 56th Air Separation Plant with the largest production capacity,” he said.
Lastly, AGII has entered into strategic cooperation with several strategic partners for business development in healthcare, industrial gas and energy transition.
“We are confident that these two strategic initiatives will have a positive impact in the company's sales growth and profitability, as well as strengthening the company's position as a market leader in the gas industry sector," Rachmat said.
