JAKARTA – PT Chandra Asri Pacific Tbk (TPIA) recorded a net loss of USD 69.16 million in 2024, increasing by 105.9% from the previous year’s figure of USD 33.57 million.

According to its latest financial report, TPIA’s loss surged due to a 17.4% decline in revenue, which fell to USD 1.79 billion in 2024. In the previous year, the revenue of the company owned by Prajogo Pangestu reached USD 2.15 billion.

TPIA’s revenue in 2024 was primarily derived from the chemicals segment, contributing USD 1.69 billion. The remaining USD 100.9 million came from the infrastructure segment.

TPIA managed to reduce its cost of revenue in 2024 by 16.4%, bringing it down to USD 1.74 billion.
Suryandi, Director of TPIA, stated that the company still has solid liquidity despite the drop in revenue and the swelling net loss.

As of 31 December 2024, TPIA’s liquid funds amounted to USD 2.4 billion, comprising USD 1.4 billion in cash and cash equivalents, USD 0.8 billion in marketable securities, and USD 0.2 billion in available committed revolving credit facilities.

TPIA recently announced that one of its projects, the Chlor Alkali – Ethylene Dichloride (CA-EDC) plant in Cilegon, has been included in the list of National Strategic Projects (PSN). The plant is being built to reduce Indonesia’s dependence on chemical imports. (DH/KR/ZH)