October 28, 2024
Jakarta, October 28, 2024. During the nine months of 2024, PT Indonesia KendaraanTerminal Tbk (IDX:IPCC) managed to record positive and solid performance growth in a quite challenging year, this was also marked by a decrease in the sales target for motorized vehicles (cars) based on Gaikindo data from 1.1 million to 850thousand units. The consolidated growth of IPCC cargo traffic is in line with the Company's focus in 2024, namely carrying out sustainable business expansion and strengthening connectivity between terminals. IPCC recorded consolidated traffic growth of 13.5% year on year (yoy) or 90,820 units until September 2024. This traffic growth is directly proportional to IPCC's success in recording a 4% increase in net profit year on year (yoy) in September 2024 to IDR148.02 Billion.
In the financial performance report for the third quarter of 2024 which was submitted to the Financial Services Authority (OJK) and the Indonesian Stock Exchange (BEI/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 a satellite terminal. Semayang in Balikpapan, as well as the operation of a new satellite terminal in Trisakti, Banjarmasin in October 2024. More specifically, handling heavy equipment and truck/bus cargo throughout the Company's work area experienced extraordinary achievements with an increase of 74.1%. Furthermore, in the financial performance report submitted, IPCC succeeded in recording an increase in profit per share in the third quarter, which rose 4.2% (yoy) to IDR81.40 from the previous IDR78.06.
Terminal services are still excellent as a producer of IPCC financial coffers, especially at the Jakarta Branch, where this is marked by the flood of EV (Electric Vehicle) cargo starting in June 2024 with various brands such as BYD, Wuling, Citroen, Vinvast and AION as well as brands -Other brands which increased 19% every month with a total of 15,988 units. According to IPCC President Director, Sugeng Mulyadi amidst the decline in motor vehicle sales this year, especially cargo vehicles (cars/CBU), IPCC succeeded in posting positive performance. This increase in positive performance is driven by effective strategies from IPCC management in optimizing the potential use of land owned by collaborating with various parties, one of which is the Pre Delivery Center (PDC) service, namely a vehicle storage service before being sent to the destination port destination. Changes in business patterns in the commercial sector also encourage optimization of the Company's income thanks to the excellent synergy and communication that exists from IPCC to each user of the Company's services.
IPCC Director of Finance, Human Capital and Risk Management, Wing Megantoro added that in terms of profitability ratios, the Company showed quite good performance in line with the increase in Current Year Profit mentioned above, making IPCC's Net Profit Margin in the third quarter of this year soar to 26.24% from the previous period. the same as last year at 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 is expected to provide added value for investors. Until now, IPCC has a very strong financial foundation, characterized 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.
Director of Operations and Technical at IPCC, Bagus Dwipoyono added that with the implementation of the digitalization of the new operating system, namely PTOS-C, which is a product developed by Pelindo's subsidiary, it can integrate systems that have been used previously and complement things that did not exist before so that all the needs of customers/ Service users can be facilitated and ultimately the Company's principle of excellent service is not just a slogan. Apart from that, standardization of operating patterns, human resources and terminal transformation are also continuing to be carried out to face challenges and hope that the automotive business climate will 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 the business supporting areas 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 growth in domestic automotive sales. "In line with the Company's program which focuses on developing a sustainable business strategy and continues to strive to expand the management of vehicle terminals in the Indonesian region, especially the central and eastern regions of 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.
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