May 02, 2024
Jakarta 2 May 2024. Welcoming 2024, PT Indonesia Vehicle Terminal Tbk with the stock code "IPCC" is immediately faced with political contestation in the implementation of domestic elections and international geopolitical conditions which have caused a decline in export cargo, especially in January and February.
This has the potential to indirectly affect the overall amount of cargo handled by the IPCC. This condition also makes some people postpone buying vehicles, especially cars, while seeing improving economic conditions. In responding to these dynamics, the Company continues to improve the competency of human resources who are able to adapt to the latest technology, such as expertise certification for HR in the operational field.
In the first quarter of 2024, IPCC has served international cargo of 96 thousand units consisting of CBU both import and export, heavy equipment, trucks/buses and general cargo where there was an overall decline, especially CBU cargo by 17.25% YoY. However, this condition is temporary and is expected to return to normal in the next quarter. In total, this situation had an impact on the Company's net profit which was recorded to have fallen 9% from the previous year for the same period.
In line with the IPCC's financial performance not being achieved in the first quarter of 2024, the Company has determined strategic steps to boost revenue in 2024 as a whole, including: expanding the VDC (Vehicle Distribution Center) service collaboration business with Japanese automakers, exploring the potential for collaboration in electric car CBU cargo services China, IPCC Inorganic Car Carrier collaboration plans with logistics companies and the implementation of single billing as a form of optimizing operational services to customers.
Sugeng Mulyadi, Main Director of the IPCC said "We believe that in the next quarter the IPCC will be able to catch up considering that export activities in March have been running normally and tend to increase.
One of the efforts to improve the Company's performance is by implementing a single billing scheme supported by standardization and transformation of operational services.
It is hoped that the operational process will become more seamless between the IPCC and its Loading and Unloading Company Partners operating at the IPCC Jakarta Branch, thereby reinforcing IPCC's position as the organizer of operational activities. To improve the Company's performance, we are collaborating and synergizing with asset management and securities companies to increase the Company's value and share liquidity, including proposing attractive dividends. "Currently the Company's cash position is also very strong and does not have interest-bearing debt/loans such as loans to banks, bonds and other types so that it is able to expand its business in the future through the Company's internal funds."
"In addition to various plans to increase revenue, IPCC is currently focusing on improving the efficiency of various business processes so that it is hoped that it can provide increasingly efficient services to provide added value for IPCC customers, one of which is through the implementation of a single Enterprise Resources Planning (ERP) program and digitalization. operations, closed Wing Megantoro (Director of Finance and HR)."
