In 2024, the Company is committed to achieving new progress amidst industry challenges. Facing intense competition with imported products, the Company focuses on improving production and quality, targeting premium markets with high margins, and implementing operational efficiency. Latinusa remains optimistic about strengthening production capabilities and maintaining service quality to sustain growth and innovation in facing future industry challenges.
In 2023, Latinusa maintains strategic focus on continuous improvement of production and human capital toward sustainable business development while navigating challenging tinplate market conditions driven by global market dynamics and competition from imported products, as a continuation of the theme “Optimizing Capabilities” from 2022, which described Latinusa’s efforts to strengthen production technology in a sustainable manner. Latinusa continually seeks to optimize busines productivity and efficiency during the year by targeting premium market segments that offer higher margins.
Despite continued uncertainties of the pandemic and geopolitical tension challenging the global economic recovery, Latinusa is resolute to capitalize on the market momentum and achieve sustainable business growth. Continuous development of production technology is key to the Company’s commitment to optimize capabilities and serve all tinplate market segments in Indonesia.
Latinusa continuously sustained the growth momentum throughout 2021. The Company’s strategic focus is directed to fulfill tinplate demand for an extensive range of industrial customers. To this end, Latinusa upheld close coordination between working units to maintain the balance and alignment of the business strategy, thus strategy implementation could run smoothly. Latinusa also consistently applied a focused and comprehensive production and service excellence strategy by the concept of a total solution provider to customers.
Against the backdrop of the COVID-19 pandemic, Latinusa is able to maintain market share dominance in excess of 60% as at the end of 2020, especially tinplate for food and beverage application. Despite the challenging conditions, Latinusa managed to post positive results as reflected in the Company’s comprehensive income in 2020. Supported by world-class technology, Latinusa continually elevates its strategic role in encouraging the development and growth of the national tinplate industry, including by supporting various consumer product industries in Indonesia.
While facing difficult business conditions, Latinusa never wavered in enthusiasm to continually and comprehensively focus on enhancing performance in 2019. The Company could generate improved financial performance with a significant increase in profitability, supported by exchange rate stability as well as successful execution of its sales strategy to optimize market penetration in the premium segments, including the food and beverage industry.
Investment is also a key factor to Latinusa’s goal of enhancing performance. Emphasizing focus on continuous improvement of production infrastructure as well as upgrading human capital development programs to enrich employee competencies and abilities, this represents the corporate strategy to address the fast pace of industry dynamics. Working under these conditions, the Company expects that its continually improved production resources and human assets could provide strong support to sustain the Company in enhancing performance in line with market demands, and drive business growth for many years to come.
