PT Krakatau Steel (Persero) Tbk targets operating income to increase 43% to Rp28 trillion in 2021.

"Krakatau Steel is currently performing better. With all these fundamental improvements, we believe that Krakatau Steel will be able to maintain profits for the coming years, "said KS President Director Silmy Karim through an official statement on Friday (28/5).

Throughout 2020, it managed to record a net profit of Rp326 billion with an operating profit of Rp2.4 trillion, swinging from previously experiencing losses since 2012.

"Restructuring and transformation that have an impact on efficiency and increased productivity will greatly affect Krakatau Steel's profit in 2020," he added.

He explained that KS managed to reduce operating costs by 41% to Rp2.8 trillion from Rp4.8 trillion in the 2019 period on efficiency initiatives. This decrease occurred in energy costs that shrank 46% to Rp295 billion and decreased utility cos