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ITMG – Modest Performance in 2021

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Maryoki Pajri
Maryoki Pajri
Analyst - Mining, Basic Ind., Agri.
Maryoki Pajri
Latest posts by Maryoki Pajri (see all)
  • PTBA – FY2020 Result Below Expectations - March 22, 2021
  • UNTR – Lower Sales Volume in 2020 - March 15, 2021
  • AALI – Higher ASP Boosts Performance - March 4, 2021

ITMG’s top line fell by 30.9% throughout 2020, resulting in bottom line of USD39 million, or declining significantly by 69.5% YoY. This decline we due to lower sales volume and ASP compared to the previous year. We initiate Overweight call with Target Price at IDR13,075.

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