Turning Loss into Profit, INOV Optimistic in Maintaining Positive Performance this Year

INDUSTRY.co.id - Jakarta, 28 March 2025 – PT Inocycle Technology Group Tbk (INOV:IJ) Indonesia's leading and largest PET waste recycling Company managed to book sales of IDR 629 Billion in 2024, an increase of 4.8% compared to the previous year which reached IDR 600 Billion. 

The largest contributor to the increase came from Re-PSF (recycled polyester staple fiber) Products which contributed IDR 461 Billion in sales, or 73% of total sales.

“Indeed, we have long realized the high demand for Re-PSF products and the potential that can be targeted. This is one of the reasons INOV has made the line one of our production focuses,” says INOV Director Victor Choi.

In addition to Re-PSF, export sales also showed significant growth, growing 29.2% year-on-year (YoY) to IDR 95 billion. This positive performance shows that INOV managed to turn losses into profits, with net profit recorded at IDR48.3 Billion.

In addition, INOV also plan to expand its business portfolio by adding two new business lines, namely the production of recycled resins/chips and the assembly of textile machinery industry equipment. 

This strategic step was taken to diversify INOV's revenue and expand the Company's business portfolio. With these two new business lines, INOV hopes to strengthen its business position while achieving stability through the optimization of its resources.

“With this achievement, INOV is optimistic that it can maintain its positive performance throughout this year. The company is committed to continuing to innovate and improve operational efficiency to support sustainable growth in the future,” Victor Choi concluded.
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