Passenger Traffic Increases, AP I Record Net Profit Reaches IDR 802 Billion

JAKARTA PT Angkasa Pura I (AP I) recorded a net profit of IDR 802 billion until the third quarter of 2023. This number has increased by 172 percent compared to the same period in 2022.

AP I President Director Faik Fahmi said the company's financial and operational performance until the third quarter of 2023 tended to increase significantly because it was driven by passenger traffic recovery during that period.

Then, continued Faik, the net profit that shot up until September 2023 was also supported by the company's efforts to optimize the implementation of a sustainable transformation.

In the same period, AP I also received 18 world-class prestigious awards at the Airport Service Quality (ASQ) Awards 2022 organized by the world airport management organization, Airports Council International (ACI).

"We are both very grateful and proud because the company's efforts to continue to optimize the implementation of transformation have yielded tangible results, namely operational and financial performance which continues to improve, as well as various appreciations from various world prestigious institutions such as ACI," he said in an official statement, Friday, October 20.

"This can be a good momentum for companies to rebound to win and return to their pre-pandemic positions," he continued.

Of the 15 airports managed by AP I, eight airports received 18 2022 ASQ Awards, including Makassar Sultan Hasanuddin Airport with five awards, Ambon Pattimura Airport with four awards, and Bali's I Gusti Ngurah Rai Airport with two awards.

Then, Juanda Airport Surabaya with two awards, Yogyakarta International Airport with two awards, SAMS Sepinggan Airport Balikpapan with one award, General Ahmad Yani Airport Semarang with one award, and Adi Soemarmo Airport Solo with one award.

Based on data from AP I, the skyrocketing financial performance of AP I was supported by an increase in passenger traffic at all airports managed by AP I which reached 51.79 million passengers until September 2023.

According to Faik, the increase in traffic at airports managed by AP I is inseparable from government policies that support the aviation industry such as the opening of international route restrictions, the intensity of AP I in collaboration with the company's main stakeholders, namely national and international airlines, policies on holiday with holidays and school children, Hajj flights at six airports, and the implementation of international events such as the Superbike and MotoGP World Championships in Lombok, West Nusa Tenggara.

Then, the implementation of the four pillars of transformation which has been consistently carried out since 2022, namely business turnaround, organization and culture, financial restructuring, and digitalization, has a positive impact on accelerating recovery in AP I performance.

This was demonstrated by EBITDA until the third quarter of 2023 which reached IDR 3.19 trillion, which almost tripled compared to the same period last year with an EBITDA margin of 47 percent.

Faik said that based on data from AP I, the company's net profit in the third quarter of 2023 was obtained due to the increase in the company's operating income which reached Rp6.82 trillion, an increase of 73 percent compared to the same period in 2022 of Rp3.94 trillion.

The implementation of Traffic-Based Operations Management (MOT) which is part of the business turnaround pillar is very effective for the company so that it can minimize operation costs. Furthermore, the internal control and risk management implemented by the company will also have a significant impact on the implementation of the Enterprise Performance Management (EPM).

In order to match or even exceed the target expected by the company by the end of this year, Faik said the company would focus on maximizing the momentum of increasing traffic, both passengers, planes, and cargo, continuing the cost leadership program, and continuing to improve the pillars of digitalization transformation.

"We believe the targets that the company has planned can be achieved by the end of this year. All of our airports are working optimally to increase revenue, both aeronautics and non-Nonoronautics, coordinating and collaborating with all business partners to utilize commercial land at all airports, implementing efficiency at the Head Office, Branch Office, and subsidiaries, as well as various other efforts that can improve the company's performance," concluded Faik Fahmi.