Announcement • 15h
PT Saraswanti Anugerah Makmur, Tbk announces Annual dividend, payable on July 22, 2026 PT Saraswanti Anugerah Makmur, Tbk announced Annual dividend of IDR 10.5000 per share payable on July 22, 2026, ex-date on June 29, 2026 and record date on June 30, 2026. Announcement • May 12
PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, Jun 18, 2026 PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, Jun 18, 2026. New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (176% cash payout ratio). Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp24.92 (vs Rp36.96 in FY 2024) Full year 2025 results: EPS: Rp24.92 (down from Rp36.96 in FY 2024). Revenue: Rp4.07t (down 15% from FY 2024). Net income: Rp255.4b (down 33% from FY 2024). Profit margin: 6.3% (down from 7.9% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp8.28 (vs Rp9.08 in 3Q 2024) Third quarter 2025 results: EPS: Rp8.28 (down from Rp9.08 in 3Q 2024). Revenue: Rp1.22t (down 1.9% from 3Q 2024). Net income: Rp84.9b (down 8.7% from 3Q 2024). Profit margin: 7.0% (down from 7.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Oct 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. No independent directors (5 non-independent directors). Independent Commissioner . Poernomo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • May 29
PT Saraswanti Anugerah Makmur, Tbk announces Annual dividend, payable on June 26, 2025 PT Saraswanti Anugerah Makmur, Tbk announced Annual dividend of IDR 19.0000 per share payable on June 26, 2025, ex-date on June 10, 2025 and record date on June 11, 2025. Announcement • Apr 18
PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, May 26, 2025 PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, May 26, 2025. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: Rp16.58 (vs Rp18.71 in 2Q 2023) Second quarter 2024 results: EPS: Rp16.58 (down from Rp18.71 in 2Q 2023). Revenue: Rp1.09t (down 13% from 2Q 2023). Net income: Rp84.9b (down 11% from 2Q 2023). Profit margin: 7.8% (up from 7.7% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 18
PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, Jun 24, 2024 PT Saraswanti Anugerah Makmur, Tbk, Annual General Meeting, Jun 24, 2024. Reported Earnings • May 05
First quarter 2024 earnings released: EPS: Rp23.93 (vs Rp27.34 in 1Q 2023) First quarter 2024 results: EPS: Rp23.93 (down from Rp27.34 in 1Q 2023). Revenue: Rp1.33t (down 13% from 1Q 2023). Net income: Rp122.7b (down 13% from 1Q 2023). Profit margin: 9.2% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: Rp79.29 (vs Rp65.20 in FY 2022) Full year 2023 results: EPS: Rp79.29 (up from Rp65.20 in FY 2022). Revenue: Rp4.46t (up 21% from FY 2022). Net income: Rp406.4b (up 22% from FY 2022). Profit margin: 9.1% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: Rp18.71 (vs Rp12.39 in 2Q 2022) Second quarter 2023 results: EPS: Rp18.71 (up from Rp12.39 in 2Q 2022). Revenue: Rp1.24t (up 104% from 2Q 2022). Net income: Rp95.9b (up 51% from 2Q 2022). Profit margin: 7.7% (down from 10% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: Rp27.34 (vs Rp15.05 in 1Q 2022) First quarter 2023 results: EPS: Rp27.34 (up from Rp15.05 in 1Q 2022). Revenue: Rp1.53t (up 82% from 1Q 2022). Net income: Rp140.1b (up 82% from 1Q 2022). Profit margin: 9.2% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: Rp65.20 (vs Rp32.34 in FY 2021) Full year 2022 results: EPS: Rp65.20 (up from Rp32.34 in FY 2021). Revenue: Rp3.69t (up 99% from FY 2021). Net income: Rp334.1b (up 102% from FY 2021). Profit margin: 9.1% (up from 8.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp525, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total loss to shareholders of 12% over the past year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Independent Commissioner - Poernomo was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: Rp15.58 (vs Rp8.14 in 3Q 2021) Third quarter 2022 results: EPS: Rp15.58 (up from Rp8.14 in 3Q 2021). Revenue: Rp1.00t (up 86% from 3Q 2021). Net income: Rp79.9b (up 92% from 3Q 2021). Profit margin: 8.0% (up from 7.8% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 15% share price gain to Rp472, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total loss to shareholders of 43% over the past year. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp520, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 17x in the Chemicals industry in Indonesia. Total loss to shareholders of 70% over the past year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. No independent directors (6 non-independent directors). Independent Commissioner - Wardiyono was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorated over the past week After last week's 28% share price decline to Rp655, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 27x in the Chemicals industry in Indonesia. Total returns to shareholders of 71% over the past year. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorated over the past week After last week's 21% share price decline to Rp875, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 32x in the Chemicals industry in Indonesia. Total returns to shareholders of 124% over the past year. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to Rp1,065, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 39x in the Chemicals industry in Indonesia. Total returns to shareholders of 172% over the past year. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 20% share price gain to Rp1,280, the stock trades at a trailing P/E ratio of 48.3x. Average trailing P/E is 36x in the Chemicals industry in Indonesia. Total returns to shareholders of 223% over the past year. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 16% share price gain to Rp1,075, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 37x in the Chemicals industry in Indonesia. Total returns to shareholders of 177% over the past year. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS Rp8.14 (vs Rp5.65 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: Rp536.7b (up 45% from 3Q 2020). Net income: Rp41.7b (up 44% from 3Q 2020). Profit margin: 7.8% (in line with 3Q 2020). Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp585, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 27x in the Chemicals industry in Indonesia. Total returns to shareholders of 56% over the past year. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS Rp6.85 (vs Rp4.62 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp415.2b (up 14% from 2Q 2020). Net income: Rp35.1b (up 48% from 2Q 2020). Profit margin: 8.5% (up from 6.5% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 24% share price gain to Rp865, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 21x in the Chemicals industry in Indonesia. Total returns to shareholders of 130% over the past year. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp1,215, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 16x in the Chemicals industry in Indonesia. Total returns to shareholders of 252% over the past year. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 27% share price gain to Rp505, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 16x in the Chemicals industry in Indonesia. Total returns to shareholders of 29% over the past year. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS Rp5.65 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp371.0b (up 15% from 3Q 2019). Net income: Rp28.9b (up 86% from 3Q 2019). Profit margin: 7.8% (up from 4.8% in 3Q 2019). The increase in margin was driven by higher revenue. 
