PT Dharma Polimetal Tbk (DRMA) achieved a milestone by exporting vehicle components to the United States through its subsidiary, PT Dharma Kyungshin Indonesia (DKI). The inaugural shipment, consisting of wiring harnesses worth approximately USD 450,000, signifies DRMA's entry into the global export market. President Director Irianto Santoso expressed pride in this achievement, highlighting the company's contribution to Indonesia's foreign exchange reserves and its potential to bolster the national economy. DKI's collaboration with Hyundai and KIA demonstrates its role as a key supplier in the automotive industry. Moreover, the partnership with Kyungshin Corporation positions DRMA to explore opportunities in the electric vehicle sector. The export to the United States is expected to pave the way for DRMA's expansion into the global automotive components market.
Despite a "wait and see'' business environment preceding the 2024 elections, DRMA recorded positive sales growth of 3.1% quarter-on-quarter in the first quarter of 2024. With the commencement of automotive component exports to the United States, DKI's sales are projected to increase, contributing to DRMA's improved performance in subsequent quarters. The anticipated boost in profit, estimated at around IDR 20 billion, aligns with Dharma Group's annual target of IDR 600 billion. Overall, DRMA's successful export venture underscores its strategic positioning in the automotive industry and its commitment to driving economic growth. As the company continues to capitalize on export opportunities, it is poised to play a significant role in Indonesia's economic development and enhance shareholder value.
