KAI Boss Says Company Financial Performance Will Be Better If PMN Is Approved

Photo: Doc. Antara

JAKARTA - PT Kereta Api Indonesia (Persero) has proposed a state capital participation (PMN) of IDR 2 trillion for the 2024 period. KAI President Director Didiek Hartantyo said the company's financial performance would be better if the PMN was approved.

Didiek revealed that financial burdens, especially financial burdens, will decrease in 2028. Without PMN, KAI expenses are IDR 3.64 trillion, while with PMN to IDR 3.15 trillion.

"Likewise in previous years, the impact will be even more felt in the future," he said in a Hearing Meeting with Commission XI of the DPR at the Parliament Complex, Jakarta, Monday, July 1.

In addition, said Didiek, the company's net profit will also be helped by the decreasing financial burden compared to without PMN. He said that without PMN, net profit in 2028 was IDR 2.22 trillion, while with PMN to IDR 2.23 trillion.

Didiek said that if PMN was also approved in 2025, the company's net profit would be higher to Rp1.18 trillion. Meanwhile, when compared to PMN, which amounted to Rp1.17 trillion.

"From the balance sheet, KAI's debt is lower without PMN. Equity will also be better so that it will cause KCI's strengthening in the context of assignment as mass transportation," he said.

On this occasion, Didiek also revealed that KAI's revenue until the first quarter of 2024 reached IDR 7.25 trillion, an increase of 25 percent from the same period in 2023 which amounted to IDR 5.79 trillion.

"KAI's net interest in the first quarter also rose 11 percent to Rp391 billion from last year's Rp352 billion," he explained.

Then, continued Didiek, in terms of assets and liabilities in the I-quarters of 2024 amounting to IDR 88.7 trillion due to the execution of several national strategic projects (PSN), resulting in an increase in assets and liabilities to IDR 56.5 trillion.

"Meanwhile, debt and equity in the first quarter of 2024 were recorded at 0.8x debt of IDR 40.3 billion and equity of IDR 32.2 billion," he said.