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IPCC or PT IKT Tbk. Posts 3rd Quarter Profit Growth of 13.5% to Rp.148.024 Billion

29/10/24, 09:13 WIB Last Updated 2024-10-29T02:13:49Z



JAKARTA (ISL News) -
 During the nine-month period in 2024, PT Indonesia Kendaraan Terminal Tbk (IDX: IPCC) managed to record positive and solid performance growth in a challenging year, this was also marked by a decrease in the sales target for motor vehicles (cars) based on Gaikindo data from 1.1 million to 850 thousand units.


IPCC's consolidated cargo traffic growth is in line with the Company's focus in 2024, namely to carry out sustainable business expansion and strengthen connectivity between terminals. IPCC recorded consolidated traffic growth of 13.5% year on year (yoy) or 90,820 units until September 2024. The growth in traffic is directly proportional to IPCC's brilliance in recording a 4% increase in net profit year on year (yoy) in September 2024 to IDR 148.02 billion.


In the financial performance report for the third quarter of 2024 which has been submitted to the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) today, the increase in traffic was obtained from the accuracy of the management strategy which opened a new satellite terminal at the end of 2023, namely the Semayang satellite terminal in Balikpapan, as well as the operation of a new satellite terminal in Trisakti, Banjarmasin in October 2024.


More specifically for the handling of heavy equipment cargo and trucks/buses throughout the Company's working areas experienced extraordinary achievements with an increase of 74.1%. Furthermore, in the submitted financial performance report, IPCC managed to record an increase in earnings per share in the third quarter which rose 4.2% (yoy) to Rp 81.40 from the previous Rp 78.06.


Terminal service is still the prima donna as a creator of IPCC's financial coffers, especially at the Jakarta Branch, where this is marked by the flooding of EV (Electric Vehicle) cargo starting in June 2024 with various brands such as BYD, Wuling, Citroen, Vinvast and AION as well as other brands which increased by 19% every month with a total of 15,988 units.


According to IPCC President Director Sugeng Mulyadi, amidst the declining sales of motor vehicles this year, especially cargo vehicles (cars/CBU), IPCC has managed to record positive performance. This positive performance increase was driven by the presence of precise strategies from IPCC management in optimizing the potential use of owned land by collaborating with various parties, one of which is the Pre Delivery Center (PDC) service, which is a vehicle storage service before being sent to the destination port. Changes in business patterns in the commercial sector also encourage optimization of the Company's income thanks to the synergy and communication that is very well established from IPCC to each of the Company's service users.


IPCC Finance, HR and Risk Management Director, Wing Megantoro added that in terms of profitability ratio, the Company showed quite good performance along with the increase in Current Year Profit above, making IPCC's Net Profit Margin in the third quarter of this year soar to 26.24% from the same period last year of 25.89% and followed by EBITDA Margin which also increased to 46.7%. The Company is very concerned about increasing operational efficiency in all lines which are expected to provide added value for investors.


Until now, IPCC has a very strong financial foundation, marked by not having loans in the form of bonds, banking or other financial instruments, so that the funding space for business expansion is very open.


Bagus Dwipoyono, IPCC's Director of Operations and Engineering added that with the implementation of the digitalization of the new operating system, namely PTOS-C, which is a product of the development of Pelindo's Subsidiary, it can integrate previously used systems and complete things that did not exist before so that all the needs of customers/service users can be facilitated, which in the end the Company's excellent service principle is not just a slogan.


In addition, standardization of operating patterns, human resources and terminal transformation are also continuously carried out in order to face challenges and expect the automotive business climate to improve which will ultimately help improve the national economy.


With the entry of various brands from China, especially in the national EV ecosystem, followed by the opening of factories in areas supporting the business of the capital city of Jakarta, it is hoped that next year there will be an increase in EV cargo, both exports and imports, which can spur the growth of domestic automotive sales.


"In line with the Company's program that focuses on developing sustainable business strategies and continues to strive to expand the management of vehicle terminals in Indonesia, especially in central and eastern Indonesia, it is hoped that connectivity between terminals will be created which can ultimately reduce logistics costs with an efficient and integrated process and always meet the expectations of customers/service users," concluded Sugeng.


(ISL News Editorial Team/Corcom IPCC /email:islnewstv@gmail.com).

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  • IPCC or PT IKT Tbk. Posts 3rd Quarter Profit Growth of 13.5% to Rp.148.024 Billion

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