Abandoned By Conglomerate Peter Sondakh, Express Taxi Performance Is Still Destroyed: Record Loss Of IDR 14.89 Billion In 2022

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JAKARTA - The performance of PT Express Transindo Utama Tbk (TAXI) or taxi Express in 2022 has faded. This can be seen from the company's loss which reached IDR 14.89 billion last year.

Based on TAXI's financial report, quoted from the Indonesia Stock Exchange (IDX) website Thursday, April 13, the company recorded a net loss of IDR 14.89 billion in 2022, compared to 2021 which still recorded a profit of IDR 188.63 billion.

The TAXI loss was caused by income which fell 59.4 percent to Rp2.94 billion in 2022, compared to 7.26 billion in 2021. This means that TAXI losses are greater than their income.

TAXI's largest revenue contribution came from vehicle rentals of IDR 2.78 billion, followed by spare parts and other income income of 79.4 billion each.

However, the company received zero revenue from taxi vehicles, compared to 2021 which still scored revenue of IDR 100.47 million.

Along with the decline in revenue, the company's cost of revenue was also cut by 160.09 percent to Rp8.63 billion compared to 2021 which amounted to Rp22.46 billion.

Based on the balance sheet, TAXI's total assets in 2022 shrank 19.71 percent to Rp73.09 billion compared to 2021 which amounted to Rp91.04 billion. This was caused by the shrinking of fleets, mess buildings, and pools. Meanwhile, the company's liabilities also decreased to Rp11.66 billion compared to the previous year's Rp14.97 billion.

Equity also decreased to IDR 61.42 billion compared to IDR 76.06 billion in 2021. As previously reported, until now there has been no name to replace TAXI's share ownership after the Rajawali Group owned by Peter Sondakh decided to leave.

In the disclosure, there is still the name Asuransi Multi Artha Guna which becomes a shareholder of 5.53 percent. After that, only public ownership reached 94.47 percent with a total share of 10.22 billion shares.