PTPP Books New Contracts Of IDR 24.4 Trillion Until October 2024

JAKARTA - PT PP (Persero) Tbk as one of the state-owned construction and investment companies in Indonesia managed to record a new contract value of IDR 24.4 trillion until October 2024. This contract acquisition reached 76.31 percent of the 2024 final target.

The acquisition of the new contract value is dominated by projects with government funding sources of 41.24 percent, SOEs 30.76 percent and the private sector at 28 percent.

The highest number of new contracts was 34.87 percent in the road and bridge sector, 30.09 percent in buildings, 18.36 percent in mining and 10.28 percent in industry.

Then, there is a port of 4.52 percent, airports of 1.06 percent and dams, oil and gas, irrigation and power plants of 0.83 percent.

It is known that the pareo for the project that was just obtained in October 2024 is the Jogja 'Bawen Section II Toll Road with a contract value of Rp. 1.53 trillion, the Gresik Jetty Petrokimia project of Rp. 761.5 billion and the 4 Tower Vertical Hunian project at IKN of Rp. 325.08 billion.

Meanwhile, PT PP managed to record a positive performance until the third quarter of 2024. This positive performance can be seen from the revenue and net profit recorded by the company. As of September 2024, PTPP managed to score revenue of IDR 14 trillion and net profit of IDR 267.28 billion.

Untuk pendapatan dan laba bersih masing-masing mengalami kenaikan sebesar 14,54 persen dan 11,49 persen dibandingkan periode yang sama tahun lalu.

One of the increase in PTPP's profit was supported by a joint venture profit of IDR 799.3 billion, which increased by 152 percent year on year (yoy) or IDR 482 billion.

PTPP Corporate Secretary Joko Raharjo said the performance recorded by the company until the third quarter of 2024 was a form of PTPP's commitment in an effort to obtain a positive performance target by the end of 2024.

Joko explained, until October 2024, PTPP had obtained a contract value of IDR 24.4 trillion from several projects. One of them is a project with a jumbo contract value, namely the Jogja 'Bawen Section II Toll Road project with a contract value of IDR 1.53 trillion which has been obtained as of October 2024.

Furthermore, in closing the third quarter of 2024 book, the company also managed to record revenues that rose 14.54 percent and net profit also increased by 11.49 percent yoy.

"With this achievement, the company will continue to strive to improve its performance in order to achieve marketing targets and other targets by the end of 2024," he said.