PP Presisi Sukses Holds Public Expose 2024, Explains The Company's Positive Performance And Strategic Transformation

Photo: Doc. PP Precision

JAKARTA - PT PP Presisi Tbk (PPRE) successfully held the 2024 Annual Public Expose on Wednesday, December 18, 2024. The event, which was attended by investors, analysts, and stakeholders, became a golden opportunity for the company to explain the achievement of performance, business transformation, and future development strategies.

In the presentation session, the President Director of PT PP Presisi Tbk, Arzan, conveyed the company's positive achievements throughout 2024. PPRE recorded significant growth in various main indicators, including:

New contract gains increased 27 percent (YoY) to IDR 6.3 trillion in the third quarter of 2024, with full year estimates reaching IDR 7.9 trillion, an increase of 17 percent compared to 2023. Say business revenue grew 5.6 percent to IDR 2.7 trillion in the third quarter of 2024 and is projected to reach IDR 4 trillion at the end of the year, an increase of 19 percent compared to the previous year. Net profit recorded an increase of 12 percent to IDR 100 billion in the third quarter of 2024, with full year projections reaching IDR 194 billion or growing 9.6 percent. The company's equity is projected to increase 12 percent to IDR 3.9 trillion, indicating a healthy and sustainable financial fundamental.

In addition, PPRE also emphasized its focus on becoming a major player in the mining services sector as the main line of business. Mr. Arzan also explained that this step was supported by the increasing global trend and bright prospects for the mining sector in Indonesia.

Then, PPRE also noted that the Mining Services business contribution has been the main driver of new contract acquisitions for 3 quarters in 2024, reaching 72 percent, with projected gains of up to 83.7 percent by the end of the year. In addition, the company recorded the dominance of market share from the private sector (private), which accounts for 91 percent of the total new contracts until the third quarter of 2024.

One of the important focuses is increasing the capacity of Mining Equipment, which absorbs 80 percent of capital expenditure (capex) allocations by 2024. This step is in line with the Company's strategy to continue developing the Mining Services business line as the company's top priority going forward.

Apart from that, business diversification also continues with the Selective Civil Work approach, where PPRE will synergize with PT Pembangunan Perumahan (Persero) Tbk as the parent company to seize opportunities in the high-value civil work sector.

To ensure business sustainability, PPRE also describes a number of strategic steps ahead, including:

Massive expansion & growth in the mining sector and exploring new partnerships with nickel mine owners as well as exploring new contract opportunities in other mineral sectors such as bauxite, tin, and coal.men Optimizing Rental Equipment through increased asset utilization idle by utilizing external project rental contracts

"With the strategy of transforming business into the mining sector and the operational efficiency we have implemented, we are optimistic that we can continue to score sustainable positive growth," said Arzan.