DRMA Remains Optimistic 2023 Automotive Still Rises, Targets Sales Up 20%

INDUSTRY.co.id - Jakarta, 25^th November, 2022 – PT Dharma Polimetal Tbk (“DRMA”), a listed company engaged in automotive component manufacturing business sees the prospects for the automotive business in 2023 will still remain promising. Therefore, the Company is optimistic and targets sales to grow by 20 percent next year.

As for 2022, which will end soon, DRMA is optimistic that the sales growth target of 20% and net profit growth of 50% this year can be achieved.

In an effort to boost the Company’s performance, this year DRMA is expanding by building three new factories and one factory expansion project. The factory construction project is mainly to boost the production of four-wheeled vehicle spare parts, where the demand for components from automotive manufacturers continues to increase in line with the increase in car sales in Indonesia.

According to the Gaikindo (The Association of Indonesia Automotive Industry) report, in the January-October 2022, total car sales in Indonesia reached 822,013 units, growing 21.4% over the same period the previous year of 677,346 units. For motorcycles in Indonesia, AISI (Indonesian Motorcycle Industry Association) recorded motorcycle sales in Indonesia throughout October 2022 reached 537,587 units, an increase of 15.6% compared to the same period last year. Total motorcycle sales during January-October reached 4,149,947 units.

In addition, anticipating the trend of electric vehicles in the near future, DRMA is preparing an investment by designing a prototype electric three-wheeled vehicle with the PowerAce brand which will be launched in 2023. In addition, the Company is also developing a battery pack and battery management system, as well as investing in new machines for existing products, which can later be used to support the manufacture of body and chassis parts for electric vehicles.

"As a business entity, we must always be anticipatory towards the development of the industry we are engaged in. Seeing that the trend of electric vehicles in the future will be brighter, DRMA will try to seize opportunities by making various investment preparations for the development of electric vehicles," said President Director of Dharma Polimetal, Irianto Santoso.