Pan Brothers
PT Pan Brothers Tbk is an Indonesia-based company engaged in the manufacturing of garments. It is among the leading companies in Indonesia's apparel industry. The company currently owns 23 factories in eight cities (including Tangerang, Sukabumi, Bandung, Boyolali and Sragen). Its products are exported to the USA, Europe, and Asia. Pan Brothers has ten subsidiaries, including one in Singapore and Hong Kong.
Profile
| Industry Sector | Miscellaneous Industry |
| Industry Sub Sector | Textile & Garment |
| Established | 21 August 1980 |
| Listed | 16 August 1990 |
| Listed Company Code | PBRX |
| Listed Shares | 6,478,295,611 |
| Dividend | Yes |
| Major Shareholders (>5%) | Trisetijo Manunggal Utama (27.98%) Ganda Sawit Utama (19.86%) |
| Key Subsidiaries | Pancaprima Ekabrothers Eco Smart Garment Indonesia Continent 8 PTE, Ltd Cosmic Gear, Ltd Prima Sejati Sejahtera |
Stock Quote Pan Brothers - PBRX:
Business Summary
The company offers technical, functional and active wear jackets for snowboarding, ski outer wear, active wear, jogging, hiking, as well as other sports and outdoor activities. It also manufacturers woven garments such as padded and light weight jackets, pants, shorts, casual pants, and dress shirts.
The company expanded to Vietnam by establishing a joint venture with a Vietnamese firm. Contrary to Indonesia, Vietnam is member of the Trans-Pacific Partnership and thus has to deal with lower trade barriers for exports to the EU, USA, Australia and several Asian countries.
Per 2018 the company's annual production capacity stood at 90 million pieces. This figure is bound to rise as Pan Brothers plan to develop a new manufacturing plant (with a production capacity of 6 million pieces per year).
Strength & Opportunities
• The company has a strong footprint in the domestic apparel industry
• Has sufficient cash reserves to finance expansion plans
• Sells most of its products to high-end customers, hence avoiding competition in the mass market
Weakness & Threats
• Highly dependent on imported raw materials
• Indonesia is not a member of Trans-Pacific Partnership hence higher trade tariffs for export from Indonesia to US
• Higher minimum wages in Indonesia
Pan Brothers' Financial Highlights:
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
| Net Sales | 249.0 | 286.6 | 339.7 | 338.5 | 418.6 | 482.2 |
| Gross Profit | 27.7 | 31.7 | 41.8 | 39.6 | 53.6 | 65.3 |
| EBITDA | 17.3 | 20.1 | 26.1 | 21.7 | 28.5 | 38.9 |
| Net Income | 7.4 | 7.5 | 10.5 | 10.4 | 8.6 | 13.3 |
| Operating Profit |
9.7 | 14.0 | 18.8 | 13.4 | 17.1 | 22.0 |
| Total Assets | 173.9 | 208.3 | 233.8 | 366.5 | 442.8 | 519.5 |
| Total Liabilities | 93.3 | 120.5 | 134.8 | 165.0 | 227.0 | 291.9 |
| Earnings per Share¹ | 0.0024 | 0.0024 | 0.0034 | 0.0016 | 0.0014 | 0.0023 |
in USD million unless otherwise stated
¹ in USD
Source: Pan Brothers
Location
Contact Details
Jalan Siliwangi No. 178
Alam Jaya, Jatiuwung
Tangerang - 15133
Phone: +6221 590 0718
Fax: +6221 590 0706
Email: iswardeni@pbrx.co.id
www.panbrotherstbk.com