Hard Trials In 2020: Ancol Loss IDR 392 Billion, Visitors Reduce 76 Percent

JAKARTA - President Director of PT Pembangunan Jaya Ancol, Tbk, Teuku Sahir Syahali, admitted that his party suffered a loss of IDR 392 billion throughout 2020. This was due to the closure of tourist attractions for months during the PSBB and PPKM (Community Activity Restrictions).

Ancol's revenue in 2020 was IDR 414 billion. This figure fell by 70 percent when compared to 2019's revenue of IDR 1.3 trillion. When calculating the operating expenses incurred, Ancol lost hundreds of billions of rupiahs throughout 2020.

"Profitability in 2019 with a profit of IDR 230 billion, decreased to a loss of IDR 392 billion in 2020", said Sahir as quoted from the official Ancol website, Monday, August 30.

Then, visits to the Ancol Dreamland Tourism area throughout 2020 fell 76 percent, from 18 million visitors in 2019 to 4.5 million visitors in 2020.

Likewise, the rides in the Ancol Dreamland area such as Dunia Fantasi, Sea World Ancol, Ocean Dream Samudra, and Atlantis Water Adventures also experienced a significant decline.

"2020 is a tough year for the recreation sector industry. Likewise, Jaya Ancol, which has had a revenue backbone from the recreation sector, has also been significantly affected", said Sahir.

Even though Ancol's financial performance was not very encouraging, Sahir claimed his company maintained its commitment by not laying off Ancol employees.

Ancol management also maintains a free cash flow position to ensure the continuity of the company's operations and maintains Pefindo's credit rating at single-A, so that it is included in investment grade.

"To be able to survive during the pandemic, the management did several things to improve cashflow efficiency, including the implementation of a basic cost strategy. In which, the costs incurred were only for the safety of visitors, rescheduling all projects, and focusing on completing the Symphony project. of The Sea (east coast area)", he concluded.