ASDP Reveals Revenue Reaches IDR 5 Trillion In 2024 Amid Economic Challenges

Merak ferry port (doc ASDP) Ratio

JAKARTA PT ASDP Indonesia Ferry (Persero) again recorded a positive performance throughout 2024 by posting revenues of IDR 5.02 trillion with a net profit of IDR 447.31 billion.

ASDP President Director Heru Widodo explained that this achievement was an important milestone for the company.

"ASDP's revenue in 2024 has exceeded the income figure before the 2019 pandemic of IDR 3.33 trillion. In fact, it has increased by 2 percent compared to 2023's revenue of IDR 4.92 trillion," he said in his statement, Sunday, July 13.

Although net profit in 2024 decreased 30 percent compared to 2023 which reached IDR 636.54 billion, Heru emphasized that the current profit figure still reflects ASDP's business resilience amid external pressure and industrial dynamics.

According to him, 2024's net profit reached 61 percent of the set target, indicating healthy and resilient business management.

Year 2024 is not an easy year. The company faces a weakened rupiah exchange rate pressure, stagnation of crossing rates, and the dynamics of behavior of service users demanding speed and digitization. However, we are still able to record revenue growth and maintain optimal operational sustainability," he explained.

Heru conveyed that the largest revenue contribution came from crossing services, both commercial and pioneering.

Meanwhile, the total passenger production was recorded at 6.12 million people, two and three-wheeled vehicles as many as 3.88 million units, four-wheeled vehicles or more as many as 4.31 million units, and goods transported reached 1.16 million tons.

He said that although some components experienced a decrease in volume, efficiency and strict operating expenses management were able to support the company's profitability.

Heru conveyed that ASDP also recorded good operational efficiency, as reflected in the operating ratio of 67 percent, an increase from 2023 which was at 65 percent.

Likewise, the Operational Cost of Operational Revenue (BOPO) was recorded at 89 percent, slightly higher than the previous year, but remains under control thanks to control of the cost of business.

"Efficiency measures and digitization of business processes are our key in maintaining company performance in the midst of operational cost pressures," added Heru.

He said that the focus of financial control is an important instrument in maintaining financial stability amidst external pressures.

According to him, ASDP's liquidity ratio also shows a healthy financial condition, where the company has full capacity to fulfill its short-term obligations.

He added that this was also supported by the achievement of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) which reached Rp1.14 trillion.

Heru emphasized that all transformations carried out by ASDP, including in the field of digitalization and customer services, always stand on the principles of transparency, participation, and integrity.

"We are building a clean and open work ecosystem, because we believe that long-term success can only be achieved through healthy governance," he said.

In the future, Heru said that ASDP will also continue to strengthen its role as a reliable, efficient, and adaptive crossing service provider to change.

"With a strong foundation, ASDP is ready to move towards sustainable growth," he concluded.