The car export was bright, IPCC's Net Profit on 2023 First Quarter has lifted up

Ipotnews - Throughout the first quarter of 2023, PT Indonesia Kendaraan Terminal Tbk (IPCC) pocketed a net profit of IDR 42.33 billion, growing 20.05% from the same period the previous year. IPCC Investor Relation, Reza Priyambada, said the increase exceeded the profit increase target set by the company by 10-12%. This achievement occurred in line with the increasing demand for vehicles, especially CBU, in a number of export destination countries, which had a positive impact on the flow of loading and unloading of vehicles at the IPCC Terminal.

"Throughout the first three months of this year, vehicle loading and unloading activities tend to be busier than in the previous period. Of course, this condition of increased loading and unloading activities is a blessing for the IPCC, where operational and financial performance records have increased," said Reza in his statement, Tuesday (2/5). In detail, the company's financial performance during the first quarter of 2023 was supported by operating income of IDR 191.15 billion, a jump of 27.40% from the same period the previous year. Terminal services shot up 24.99% to IDR 175.89 billion, which also boosted the company's revenue increase.

"Apart from that, the increase in operating income was also contributed by an increase in revenue from the goods services segment which skyrocketed 34.47% to IDR 10.71 billion. Likewise, the various business services segment and the exploitation of land, buildings, water and electricity also experienced increase compared to the same period the previous year," said Reza. Even so, IPCC's cost of revenue and operating expenses also increased by 28.51% respectively to IDR 92.25 billion and 28.40% to IDR 32.37 billion.

On the other hand, IPCC was also able to achieve an increase in operating profit of 25.41% from the same period the previous year to IDR 66.53 billion. "The addition of financial income which rose 147.92% to IDR 12.81 billion in the first quarter of this year was able to bring IPCC to increase profits in the current year," he said. Meanwhile, the operating margin was recorded at 34.81%. Then EBITDA of 55.27% and a net profit margin of 22.15%. The IPCC Earning per Share (EPS) value was IDR 23.28 above the previous year's achievement, which was IDR 19.39. "Assuming that the IPCC share price at the end of April 28 2023 trading was IDR 705, then the company's share price has increased by 23.68% from the closing price in the same period last year, IDR 550," he explained.

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