JAKARTA - PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM)  is optimistic that the revenue and profit performance will recover as the price of pulp showed increases starting from the third quarter of 2023.

Suhendra Wiriadinata, President Director of Pabrik Kertas Tjiwi Kimia, said that the revenue of the company will continue as the pulp price has inflated. “But we expect that in the second term, the pulp price will start to pick up. Even, in this month alone, the price has been increasing. And we predict that until the end of this year, it will continue to rise until next year,” he added during an exclusive interview with IDNFinancials last week.

According to Wiriadinata, the pulp price surge will benefit the company as PT Oki Pulp & Paper Mills, an associated company that manufactures pulp, has contributed 48% to TKIM’s total revenue.

In Q3 2023, this company recorded net sales of USD 812.63 million, slipping from USD 885.38 million seen in Q3 2022. The export contributed USD 481.45 million, rising from USD 479.25 million, while domestic market only generated USD 331.18 million, down from USD 406.13 million. TKIM’s export market includes markets in Asia, Africa, Europe, Middle-East, the US, and others. (LK/ZH)