May 02, 2023

Exceeding the Target, IPCC's Profit Grows 20% to IDR 42.3 Billion in the First Quarter of 2023

KONTAN.CO.ID - JAKARTA. The bustling activity of loading and unloading vehicles boosted the profit of PT Indonesia Vehicle Terminal Tbk (IPCC). This Pelindo Group issuer earned a profit for the year of IDR 42.33 billion in the first quarter of 2023.

IPCC profit in the first three months of this year grew 20.05% compared to the same period last year.

IPCC Investor Relations Reza Priyambada said that this achievement exceeded the projected profit increase target of 10% -12%. Reza revealed that during the first quarter of 2023, IPCC earned operating income of IDR 191.15 billion, up 27.40% on an annual basis. The growth in operating income was supported by acquisitions from terminal services which rose 24.99% to Rp 175.89 billion.

Revenue from the IPCC goods services segment also increased 34.47% to Rp 10.71 billion.
Reza revealed that the increasing demand for vehicles, especially CBU in a number of export destination countries, has also boosted the flow of loading and unloading of vehicles at the IPCC Terminal.

"Obviously the condition of increased loading and unloading activity has been a blessing for IPCC where operational and financial performance records have increased," said Reza in a written statement received by, Tuesday (2/5).

According to Reza, IPCC's margin is in a good position with operating margin recorded at 34.81%. Followed by an EBITDA margin of 55.27% and a net profit margin of 22.15%. The IPCC Earning per Share (EPS) value was recorded at IDR 23.28 above the previous year's achievement of IDR 19.39. This calculation assumes that the IPCC share price at the end of trading on Friday (28/4) is IDR 705 per share.

As of early 2023 (year to date), IPCC's share price has increased by 23.68%. With these calculations, the IPCC's forward Price to Earning (PER) value was 7.57x above the previous year's forward PER, which at that time was the IPCC's forward PER of 7.09x.