Press Release

July 29, 2024

WITNESSING THE Q1 STORM, IPCC STRONGS TO REACH PROFIT OF IDR 80.7 BILLION IN SEMESTER I 2024

Jakarta, 29 July 2024. In the first six months of 2024, PT Indonesia Kendaraan Terminal Tbk (IDX:IPCC) managed to record positive and solid performance growth even though it was faced with a dynamic global geopolitical situation and safety issues for vehicle manufacturers. IPCC was able to record an increase in net profit for Semester I 2024 of 2.24% YoY. This is in line with the implementation of the Company's strategy, namely sustainable business expansion, increasing market share and efficiency.

In the 2024 Semester I Financial Performance Report which was submitted to the Financial Services Authority (OJK) and the Indonesian Stock Exchange (BEI/IDX) some time ago, IPCC managed to record an increase in net profit in the first half growing to IDR 80.69 billion from the previous IDR 78.91 Billion. This achievement was supported by an increase in heavy equipment cargo flows by 44.23% (YoY) and truck and bus cargo by 21.82% (YoY) at the Satellite Terminal even though there was a decline in CBU of 1.25% (YoY) on a consolidated basis, where the largest proportion is Satellite Terminals at 40.94%, International Terminals at 40.74% and Domestic Terminals at 18.32%.

Terminal services as the main service are still the favorite as a source of IPCC financial coffers with an increase of 1.44% to IDR 340.96 billion (YoY) until June 2024. This is followed by income from PDC services in the form of land and building concessions which increased by 45 .23% from IDR 5.8B to IDR 8.5M. IPCC President Director Sugeng Mulyadi said that amidst the decline in the value of Indonesia's imports and exports, especially vehicle cargo, IPCC managed to record positive performance. This is driven by the optimization of operational performance, implementation of the financial system (PRAYA) as well as changes in business patterns in the commercial sector so as to encourage revenue optimization. Various business strategies that have been implemented have also produced sweet results, such as PDC (Pre-Delivery Center), Port Stock and VPC (Vehicle Processing Center) services.

Sugeng further said that one of the factors in increasing profits was the growth in expenses which was lower than the increase in income. This is proof that efficient Company management in all lines with increased digitalization and transformation carried out will ultimately provide maximum benefits. Meanwhile, EPS also increased from IDR 43.40 in the first semester of the previous year to IDR 44.37 in the same period this year. In terms of profitability ratios, it also shows good performance. Along with the increase in Profit for the Year, IPCC's Net Profit Margin in the first semester of this year soared to 22.4% and was followed by EBITDA Margin which also rise to 44.3%.

In order to face challenges and hope that optimistic automotive business conditions will increase until their peak is estimated in October 2024, IPCC is focused on developing a sustainable business strategy and continues to strive to expand the management of vehicle terminals in the central and eastern regions of Indonesia which is expected to create connectivity between terminals which in the end can reduce logistics costs with efficient and integrated processes. In Semester II of 2024, it is hoped that all car makers will be able to send all cargo made domestically for export via IPCC Terminal, and can increase the volume of vehicle imports so that optimal performance is created and IPCC can provide added value for Shareholders through dividends. For information, until the end of 2024 and future plans, electric vehicles are estimated to be able to contribute around 30,000 units, especially cars from China. "Meanwhile, it is estimated that other car makers in Semester II 2024 will experience an increase in catching up with the target of falling behind in Semester I 2024," concluded Sugeng.

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