Indonesia’s Krakatau Steel surpasses CY’20 profit in just 7 months in CY’21

Krakatau Steel, Indonesia’s largest flat steel producer, has achieved a net profit of IDR 609 billion ($42.7 million) in the Jan-Jul’21 period, exceeding its CY’20 profit by $23 million. The company attributed this remarkable achievement to higher domestic and overseas sales, SteelMint learnt from the company’s recent press release. Krakatau’s steel sales increased by 44.1%, y-o-y, boosting its revenue to IDR 17.7 trillion in Jan-Jul’21.