Revenue Soars, Jaya Badmindo (HELI) Turns Profit In 2023

JAKARTA - PT Jaya Badmindo Tbk (HELI) managed to reverse its performance from a loss position in 2022 to a profit in 2023. The surge in revenue and efficiency measures carried out by management boosted the company's bottomline throughout last year.

By the end of 2023, HELI was able to print a net profit of around Rp600 million. Meanwhile, throughout 2022, the company posted a net loss before tax of Rp85.80 billion and a loss for the year attributable to owners of the parent entity of Rp85.57 billion.

The achievement of net profit was supported by a marked increase in revenue, from Rp44.56 billion in 2022 to around Rp69.08 billion at the end of 2023. Jaya President Director Totalindo Edwin Widjaja said the surge in revenue came from a number of new contracts that the company managed to pocket.

One of them is a contract obtained through a subsidiary, namely PT Komala Indonesia. In mid-2023, this subsidiary engaged in the helicopter rental field signed a cooperation contract with two companies that own forest concession permits in Indonesia.

Indonesian komala provides rental services for one helicopter each in the two companies to anticipate the handling of forest fires that occurred in their concession areas. The cooperation period lasts for two years for each company or until 2025 and can be extended one year later, namely until 2026.

"The total value of the new cooperation with these two companies is around Rp. 200 billion for a period of two years," said Edwin, in Jakarta, Thursday, March 21. Throughout 2023, HELI managed to capture 12 new clients, double the number of new clients of the company in 2022, which was six companies. HeLI's total clients until the end of 2023 reached 18 companies. A total of 14 companies lease helicopters for special guest delivery (VIP) and logistics and two companies for forest fire prevention.

The National Disaster Management Agency (BNPB) is one of the clients who rented the company's helicopter last year for disaster management purposes and another company leased it for MotoGP coverage in Mandalika.

In addition to the new contract, the company's financial performance was also caused by a precise efficiency strategy that was successfully executed by HELI management. Edwin revealed that the tightening of spending carried out last year was able to reduce the company's general burden by 29 percent yoy.

He is optimistic that the company's positive performance growth will continue this year considering the need for helicopter use, both to meet the needs of logistics transportation, disaster management and tourist needs by VIP guests, is expected to be high.

"We plan to add one to two helicopter units this year. In line with that, we are sure that income will continue to grow," concluded Edwin.

Currently, HELI has six helicopter fleets and one Cessna aircraft. If the plan to add helicopters is realized, the company will have seven to eight helicopter fleets and one Cessna aircraft this year.