PT Chitose Internasional Tbk plans to distribute dividends amounting to 1 billion rupiah from retained earnings, equivalent to Rp 1 per share. This dividend distribution plan was approved at the AGMS held on Wednesday, 25 May 2022 at the CINT Showroom & Marketing Office in Bandung, West Java.
The dividends will be distributed to shareholders listed in the Company’s Shareholder Register as of 8 June 2022 at 16:00 WIB and will be paid on 29 June 2022 in accordance with the applicable laws and regulations.
During the occasion, CINT President Director Kazuhiko Aminaka presented the company’s 2021 performance. The company recorded sales of Rp 287.15 billion, a decline of 13.16% from Rp 330.68 billion in 2020. The decrease in sales performance was mainly driven by a 16.05% drop in domestic sales, reaching Rp 260.25 billion in 2021. This decline was caused by the 2021 mobility restrictions (PPKM) and operational limitations in public services, office sectors, hotels, and restaurants.
The company’s performance improved in the fourth quarter of 2021 as the government began to ease social restrictions. A project-oriented approach also helped boost sales figures in Q4 2021. However, this improvement was not enough to generate a positive contribution to overall 2021 sales growth.
In contrast, export sales increased by 30.07% to Rp 26.90 billion. Export sales were dominated by piano chair products, as international demand increased during the COVID-19 pandemic.
CINT’s gross profit reached Rp 13.89 billion, a decrease of 85.67% from Rp 96.92 billion in 2020.
This condition was primarily triggered by clearance sale stock transactions amid rising material prices, causing gross profit to decline significantly.
As part of its Sustainability Strategy, CINT is committed to promoting economic productivity through its products, thereby supporting socially conscious and environmentally friendly sustainable development. Therefore, the company places priority on key issues relevant to stakeholders, ensuring CINT’s presence provides positive impact for these groups.