IIF Earns IDR 122.5 Billion Net Profit In 2024

Rupiah (photo: dock. Antara)

JAKARTA - PT Indonesia Infrastructure Finance (IIF) recorded a net profit growth of 17.63 percent (yoy) to IDR 122.51 billion in 2024 compared to the previous year which amounted to IDR 104.15 billion.

Head of Legal & Corporate Secretary IIF Nastantio W. Hadi in a confirmed statement in Jakarta, Wednesday, said that the achievement of net profit was supported by 2024 operating income which increased 3.70 percent to Rp1.39 trillion compared to 2023 of Rp1.34 trillion.

"During 2024, the company plays an important role in realizing sustainable infrastructure development financing," Nastantio said, quoting Antara.

This achievement was announced at the Annual General Meeting of Shareholders (AGMS) which also approved annual reports, financial reports, and the use of net profit for the 2024 financial year.

Nastantio said that in 2024, the total commitment to new financing IIF increased by 11 financing with a total value of Rp3.93 trillion, or an increase of 13.52 percent compared to 2023 of Rp3.46 trillion. The financing commitment includes the clean water sector, special economic areas, toll roads, telecommunications, social infrastructure, and gas infrastructure.

Meanwhile, from the advisory service, the Company obtained 10 new mandates with a contract value of Rp39 billion which included 6 mandates for the services of ESG advisory, 3 mandates for financial advisory services and 1 mandate for equity investment.

The average income and profit growth rate (CAGR) of IIF during the five-year period each reached 11 percent and 30 percent. In terms of capital, the average annual growth rate of IIF during this period reached 11 percent.

"With a strong financial foundation and a commitment to ESG principles, IIF is ready to support the acceleration of national infrastructure development in order to encourage inclusive and sustainable economic growth," he said.

IIF, which was founded on initiatives by the Ministry of Finance and several multilateral financial institutions, is engaged by providing various consulting financing and service schemes to support the feasibility and sustainability of sustainable infrastructure projects. According to data on the Ministry of Finance's social media page @kemenkeuri, since 2012, more than 150 infrastructure projects have been funded by IIF with a value of IDR 42.5 trillion.