JAKARTA – PT Arwana Citramulia Tbk (ARNA), a ceramic manufacturing company, reported a modest 7.5% year-on-year (yoy) increase in revenue for 2024, reaching IDR 2.6 trillion by the end of December.

According to the 2024 Financial Report, sales to PT Catur Sentosa Adiprana Tbk (CSAP), owner of the Mitra10 and Atria retail networks, continued to dominate ARNA's sales in 2024, totalling IDR 1.82 trillion, or 69.2% of total sales.

Despite the moderate rise in revenue, increased cost of goods sold (COGS) kept gross profit largely stagnant, moving only from IDR 904.2 billion to IDR 904.3 billion by the end of December 2024.

As a result, the company’s gross profit margin slipped slightly from 37% to 34.3%.

Several rising expense items also weighed on ARNA’s bottom line performance, leading to a 4.4% yoy decline in net profit to IDR 429.5 billion at the end of 2024, down from IDR 449.1 billion in 2023.

In early 2025, ARNA faces challenges as a major player in the ceramics industry, particularly with the finalisation of the Specific Natural Gas Price (HGBT) policy at USD 6/MMBTU.

HGBT has been a government policy since 2020 aimed at providing more affordable natural gas prices to seven specific industrial sectors, including ceramics. However, the policy is on the verge of being annulled due to increased global natural gas price.

As reported by IDNFinancials in January, the Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, indicated a positive continuation of this policy.

"Among the seven (industrial subsectors), it’s almost certain that this policy will be extended," he stated at the ESDM Ministry Secretariat on Thursday (16/1). (ZH)