APLN Raup Marketing Sales Rp473.5 Billion In The First Quarter Of 2024

PT Agung Podomoro Land Tbk (APLN) recorded marketing sales outside VAT worth IDR 473.5 billion in the first quarter of 2024.

This figure increased by 95.6 percent from IDR 242.1 billion in the same period last year.

This is supported by the incessant development and sale of corporate property projects in various regions.

In addition, APLN also recorded recurring income of IDR 346.2 billion in the first quarter of 2024b, an increase of 2.5 percent from IDR 337.8 billion in the same period in 2023.

APLN's recurring income is in an increasing trend from year to year as the performance of the hotel and shopping center sectors is increasingly solid and has strong national economic fundamentals.

PT Agung Podomoro Land Tbk Corporate Secretary Justini Omas explained that APLN's recurring revenue contributed around 48.6 percent of the company's total sales and revenue during the first quarter of 2024.

The company posted sales and revenue value in the first quarter of 2024 of IDR 712.8 billion compared to IDR 1.1 trillion in the first quarter of 2023.

"In the midst of a very dynamic national and global situation, recurring revenue increases show the stability and sustainability of the business segment which generates continuous income for the company," said Justini Omas in a written statement, Friday, May 31.

He said that this increase reflects the success of the company's strategy in maintaining and optimizing revenue sources from hotel, property rental and shopping center businesses that consistently contribute positively to financial performance.

Justini revealed that his party continues to strengthen business fundamentals through various solid and measurable strategies, both in terms of sales and income and cost management.

In terms of sales and revenue, several initiatives were carried out to optimize sales of APLN property projects spread across a number of parts of Indonesia.

Strategic collaboration with various parties, one of which is banking, is carried out to encourage people's purchasing power to make it easier to access company property products in the midst of the high trend of financing interest rates.

Currently, APLN continues to optimize the sale of property projects, such as Bukit Podomoro Jakarta in the East Jakarta area, Podomoro Park Bandung, Podomoro Golf View in Cimanggis, Podomoro Tenjo City in Bogor, Parkland Podomoro Karawang and Kertabumi City in Karawang.

APLN also still owns and manages a number of premium shopping centers in Jakarta and various other big cities, such as Kuningan City, Senayan City, Emporium Pluit, Central Park, Neo Soho, Deli Park Medan, Baywalk, CityLink Festival Bandung and Plaza Balikpapan.

The company also has a number of premium hotels, including Pullman Ciawi Vimala Hills, Pullman and Ibis Styles Bandung Grand Central, Harris and Pop! CityLink Festival Bandung, Indigo Bali Seminyak, Amaris Thamrin City and 101 Urban Jakarta Kelapa Gading.

In terms of cost management strategies, said Justini, his party is also trying to take various efficiency steps in business operations, including lowering interest expense and financial costs.

In the first quarter of 2024, the company's interest and financial expenses were recorded at IDR 110.2 billion, a decrease of 30.1 percent from IDR 157.7 billion in the same period last year as the company's debt decreased.

"The reduction in interest expense and financial costs will be one of the company's future efficiency strategy options," he added.