On 9th November 2015, Pan Brothers Tbk announced its financial performance for January to September 2015 in a public expose held before various members of the media in Jakarta. Delivered by Ms Lilik Setijo and Ms Fitri Ratnasari Hartono as members of the Board of Directors, the occasion disclosed details regarding Pan Brothers’ list of corporate actions over the course of the nine months as well as provided information on the company’s financial report following on from an audit carried out by public accountant office Doli, Bambang, Sulistiyanto, Dadang & Ali. Overall, Pan Brothers recorded $316 million USD in sales revenue and describes itself as undergoing rapid growth which will require further funding to support its future expansion plans.
Among other announcements with regards to its corporate finances, the integrated textile manufacturer also registered an increase of 89.76% in operating profits during January to September 2015, as well as a 47.56% rise in gross profit and 36.07% in profit before taxes. Additionally, Pan Brothers also disbursed $27 million USD in capital expenditure mainly used to acquire new production facilities and machinery. This course of action is part of the company’s plan to build seven new garment factories within the next three years which is estimated to require an investment amounting to $60-65 million USD; four of these new facilities have been built while three more are slated for completion in 2016. Through the expansion, the group as a whole expects to increase its production capacity from 75 million pieces to 96 million pieces annually.
In terms of short and long-term outlook, Pan Brothers has planned several key measures aimed at ensuring sustainable operations, including by developing the production capabilities and capacity of both the holding company and its subsidiaries; which aims to have a total of 27,766 sewing machine units by 2016. Other policies include engaging in new partnerships with sub-contractors in the garment industry, offering flexible terms of payment to buyers, further developing in-house brands and acquiring those from abroad to be marketed in Indonesia, and striving to achieve the vision of becoming an “integrated and worldwide apparel supplier” by effectively combining the group’s upstream and downstream manufacturing operations and its retail capabilities.