PP Presisi Earns IDR 194 Billion Net Profit In 2024

Photo: Doc. PP Precision

JAKARTA - PT PP Presisi Tbk (PPRE), a heavy equipment-based mining and construction service company in Indonesia, managed to record a new contract acquisition in 2024 of IDR 6.8 trillion.

This achievement increased year-on-year (YoY), where the acquisition of new contracts increased by 1.49 percent compared to 2023 of IDR 6.7 trillion. PPRE also targets the growth of new contracts in mining lines in the following years as well as opening up opportunities for cooperation with other companies in the mining business line.

Based on its financial statements, it was recorded that the company's performance showed positive results. This is based on the net income and profit that was recorded. Throughout 2024, PPRE managed to record a net profit of IDR 194 billion, an increase of 12.34 percent compared to the net profit in 2023 of IDR 172 billion.

This figure was supported by PPRE revenue of IDR 3.7 trillion, an increase of 11.47% compared to 2023 revenue of IDR 3.4 trillion, where the mining and construction service business segment dominated PPRE revenue by 94.5%, and the rest came from supporting business lines such as ready mixes and heavy equipment rentals.

"We continue to strive to increase revenue in this period, which reflects our resilience and business strategy in the midst of dynamic market conditions. We will continue to focus on operational efficiency, product innovation, and provide long-term value for our shareholders," said Arzan, President Director of PT PP Presisi Tbk, in his statement, Friday, April 11.

The ratio of finance, especially the leverage ratio, shows a positive downward trend. One of them can be seen from the decline in the ratio of the DER Interest Bearing, from 0.60x as of December 31, 2023 to 0.51x as of December 31, 2024.

This significant decrease in interest-bearing debt shows that PPRE's ability to keep the leverage ratio within the borders set by banks.

"We are targeting the growth of new contract acquisitions by 2025 by 10-15 percent, focusing on the mining services sector. Seeing the huge market potential in the mining sector going forward, we are increasingly motivated to continue to encourage the increase in the value of new contracts as a strategic effort in accelerating the company's revenues and creating added value for all stakeholders," concluded Arzan.