Fastener and component manufacturer, PT. Garuda Metalindo Tbk (BOLT) continues to aggressively work on the export market this year despite the import tariff policy implemented by the United States (US) government. As is known, in Trump's latest tariff policy, Indonesia is subject to a jumbo tariff of 32% or only slightly smaller than China's 34%. Garuda Metalindo Director, Anthony Widjaja said, the impact of the import tariff policy is very minimal to BOLT's business. Because, currently the portion of sales to the US is less than 1% of total sales. "For export sales, it is also still small, below 5%," Anthony told on Thursday, April 3rd.

Thus, BOLT will continue to intensify the export market to other destination countries, including Germany. Anthony said that Germany is currently the company's largest export market. As a strategy to expand sales in the country, BOLT has just completed an exhibition event in Germany last week. "Germany is currently our largest export market and by participating in the exhibition, we are sure we will get a lot of new business," he added. In addition to Germany, BOLT also supplies its products to several other countries such as India, Thailand, Mexico, and Malaysia. Germany is BOLT's largest export destination country with a contribution portion reaching 50% of total export sales. Throughout 2024, BOLT recorded sales of IDR 1.47 trillion. Up slightly compared to 2023 sales of IDR 1.46 trillion. Meanwhile, for the current year's attributable profit to the owner of the parent entity, aka net profit, decreased by 15.13% to IDR 94.63 billion, from the previous year's net profit of IDR 111.30 billion. This year, BOLT is targeting sales growth of 8%-10%. Followed by an increase in net profit which is expected to reach 10%-20%.

Source:
https://insight.kontan.co.id/news/garuda-metalindo-bolt-memperluas-pasar-ekspor