Jakarta, April 22, 2022 - PT Avia Avian Tbk. (“AVIA”), the leading decorative paint manufacturer in Indonesia, agreed to distribute cash dividends to shareholders amounting to Rp1.2 trillion or approximately 83.3% of the 2021 net profit recorded at Rp1.4 trillion. This was decided at the Annual General Meeting of Shareholders (AGMS) held by the Company today in Surabaya.
Wijono Tanoko as President Director of AVIA said “We are grateful that despite the ongoing pandemic, AVIA was still able to record positive performance in 2021. As a form of our appreciation to shareholders who have consistently supported AVIA's business growth, through today's AGMS, management has obtained approval to distribute dividends amounting to Rp1.2 trillion or Rp20.55 per share from the 2021 net profit. The total cash dividend includes an interim dividend of Rp700 billion previously distributed to shareholders.”
Currently, AVIA holds the largest market share for decorative paints in Indonesia with a total market share of approximately 20% (according to Frost & Sullivan), thus the Company is optimistic about continuing its positive performance in 2022 along with ongoing expansion efforts. Among these, AVIA continues to innovate by creating new and quality products to meet dynamic market needs, thereby continuously increasing its market share. AVIA's latest breakthrough is the launch of Avitex Anti Viruz wall paint, which is claimed to kill the Corona virus and bacteria by up to 99.9%.
For information, as of Q1-2022, the Company has 105 self-owned distribution centers and 34 third-party distribution centers. In total, all these distribution centers serve more than 54,500 building material stores spread across Indonesia. In addition, in pursuing growth across various business lines and operational aspects, the Company continues to focus on strong capitalization to accommodate future business development plans. To this end, in December 2021, the Company conducted an initial public offering to the public and a limited offering to the Company's Shareholders.
“It is hoped that with these efforts, coupled with consistent product quality and service, we can maintain business continuity and continue performance growth of around 10-15% this year,” concluded Wijono.
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About PT Avia Avian Tbk
PT Avia Avian Tbk. was founded in 1978 as an integrated paint manufacturing company. Known as Avian Brands, the Company has manufactured and sold a range of architectural solution products used in home construction. Some of the products produced by AVIA include wall paints, anti-leak coatings, wood and iron paints, wood treatment paints, and others.
Listed on the Indonesia Stock Exchange (IDX) on December 8, 2021, with stock code (IDX: AVIA), the Company is a market leader in the decorative paint and coating industry in Indonesia, with a total market share of approximately 20%, based on Avian Brands' sales revenue in 2020 generated from decorative paint and coating products, according to Frost & Sullivan. The Company has strong manufacturing capacity and capabilities through its manufacturing facilities in Sidoarjo and Serang, Indonesia, as well as the widest distribution network in Indonesia, comprising 105 self-owned distribution centers and 34 third-party distribution centers as of Q1-2022. All these distribution centers serve more than 54,500 building material stores across Indonesia.
