JAKARTA – PT Communication Cable Systems Indonesia Tbk (CCSI) is targeting a 10% year-on-year (yoy) growth in performance for 2025. This was disclosed by Sukarnen, Vice President Director of CCSI, during a Public Expose at the JDC Building, Jakarta, on Wednesday (26/3).

“We are pursuing more bottom line growth. Even though we can secure more orders, our prices are being compensated,” said Sukarnen.

Based on the 2024 Financial Report released on Friday (21/3), CCSI posted a revenue of IDR 291 billion, a 16.62% drop from IDR 349 billion in 2023. However, the company managed to recover from a loss, growing 117.49% to record a profit of IDR 3.9 billion in 2024.

At the same time, Erwin Andersen, CCSI's Finance Director, explained that the company's lower revenue in 2024 led to a reduction in cost of goods sold (COGS), which was also supported by cheaper raw material prices.

The 25.4% reduction in COGS propelled CCSI's gross profit to jump 81.7% to IDR 51.7 billion, lifting the gross profit margin from 11.4% to 17.8% in 2024.

In terms of stock performance, CCSI's share price remained at IDR 384 per share during the first trading session today (27/3). However, over the past five days, the stock price has fallen by 4.48%.

Despite this, CCSI has no plans to conduct a share buyback in 2025, even though the Financial Services Authority (OJK) temporarily allows companies to carry out share buybacks without holding a General Meeting of Shareholders (GMS).

"I think, overall, we still see our share price performance as fairly good amid high market pressures," he said. (DK/ZH)