Optimistic Of Profit After Loss Of IDR 23.77 Billion In 2020, IPCC, A Subsidiary Of BUMN Pelindo II, Signals Dividend Distribution

Photo: Doc. IPCC

JAKARTA - PT Indonesia Vehicle Terminal Tbk (IPCC) is optimistic that its financial performance throughout 2021 will be better than the previous year. This belief is based on the net profit in September 2021 which reached IDR 16.6 billion from the 2020 position, which was a loss of IDR 23.77 billion.

IPCC Rio President Director. TN Lasse conveyed that the improving financial performance of the IPCC is in line with the recovery of loading and unloading activities carried out at the IPCC Terminal throughout 2021. It can be seen that the number of loading and unloading handling for a number of segments at the IPCC Terminal is much more crowded than the previous year.

"With this increase, of course, it will have an impact on improving financial performance, especially income from the IPCC," Rio said in his statement, Wednesday, March 30.

Rio explained, with an increase in the number of cargo served at the IPCC Terminal, revenue would certainly increase. On the other hand, the management's efforts to manage the company's costs more efficiently will have an impact on profit growth.

"Investors can see the amount of income and profit at the time of the release of the Financial Statements," said IPCC Director of Finance and HR Feri Irawan added.

In 2020, the IPCC lost IDR 23.77 billion in line with the decline in revenue due to the impact of the COVID-19 pandemic which resulted in a decrease in cargo handling at the IPCC Terminal.

However, with the recovery of economic conditions throughout 2021, the operational and financial performance of this subsidiary of PT Pelabuhan Indonesia II (Persero) is getting better. As of the end of September 2021, IPCC's financial performance has experienced a turnaround where it recorded a profit of IDR 16.60 billion.

Gradually make IPCC's financial performance improve. By looking at the conditions throughout the nine months in 2021 which have recorded profits, of course throughout the full year of 2021 it is expected to experience higher profits.

With the bookkeeping of these profits, it is possible for Management to distribute dividends to shareholders.

"If the 2021 financial year records a profit, it is possible that there will be a dividend distribution. We are currently conducting an internal study to propose a dividend distribution. The amount will be proposed at this year's Annual GMS. Of course, this dividend proposal is our commitment to shareholders to can provide added value from our performance achievements," said Feri.

Referring to the IPCC dividend payout ratio in the 2019 financial year, at that time through the Annual GMS it was determined that the use of the Company's net profit was 75.01 percent with the total dividend amounting to IDR 55.81 per share.

Meanwhile, when referring to the average share price at that time, the dividend yield amounted to between 12.46 percent to 14.31 percent.