JAKARTA - PT Pan Brothers Tbk (PBRX) is anticipating decline in its sales number in 2025 following its limited working capital. Its total equity was reported at USD 333.60 million as of Q3 2024, relatively stable compared to the same period in 2023.

In the information disclosure quoted Thursday (7/11), Fitri Ratnasari Hartono, Director of PBRX, mentioned that the estimated decline in sales follows the expectation received after discussion with users.

As of September 2024, PBRX operates 15 factories in Central Java and Tangerang, with total workers of 23,000. This number was significantly reduced from 38,000 recorded in 2019.

According to Hartono, the company will first increase sales and stabilise working capital in order to restore sales in 2026-2030, as there might be some level of reduction in the company’s debts.

In addition, the company is optimistic regarding its cash flow improvement, as well as restructure proposal, which will be concluded according to the schedule on November 22, 2024.

As of March 2024, its sales declined to USD 92.25 million from USD 110.04 million seen in the same period in 2023. The gross profit also slipped to USD 10.86 million from USD 12.67 million, followed by its profit that significantly dropped to USD 1.15 million to USD 124,909. (LK/ZH)