PP Presisi Earns IDR 182 Billion Net Profit In 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - PT PP Presisi Tbk (PPRE) posted an audit of the consolidated net profit for the period ending on December 31, 2022, an increase of 23.7 percent to Rp182 billion from Rp147 billion for the same period in 2021.

The increase in consolidated net profit was in line with the increase in revenue by 29.5 percent from Rp2.8 trillion to Rp3.6 trillion. The increase in revenue was supported by an increase in mining services income by 26 percent YoY from 9 percent (2021) to 34 percent (2022), which included sustainable income on the Hauling Road Weda Bay project and the Hengjaya Minealindo project.

As for the CIvil Work business line, which contributed to revenue by obtaining a new contract for the construction of the Serang Panimban Toll Road, Kediri Airport Added Work, Ciliwung River Garbage Filtering, Improvement of Jalan Empunala Mojokerto and several other contracts.

Other revenues were also contributed from the supporting business line on the BCA Data Center project, the Deltamas AEON project, the Sonic Camp Weda Bay project and other projects.

With the new contract final bookkeeping obtained by PP Presisi of IDR 5.2 trillion in 2022, the majority of new contracts were obtained from mining services of 55 percent, and civil work of 41 percent, as well as production plant, structure work and rental equipment. ) of 4 percent.

"Along with Indonesia's economic recovery and increased market on construction and mining services supported by Government policies, PP Presisi continues to strive to increase the Company's positioning as a main contractor in construction services as well as mining services and in the future we are targeting the acquisition of new contracts in 2023 to increase by 20-30 percent or IDR 6 trillion-IDR 7 trillion with an increase in the acquisition of new contracts in mining services by more than 50 percent.

"These new contracts will make a positive contribution to the company's revenue and growth in the coming years," said PP Presisi President Director Tbk, Rully Noviadar, in his statement, Tuesday, March 14.

PPRE's financial position also experienced a strengthening, which was marked by an increase in the profitability ratio in the ROA ratio, increasing from 2.09 percent to 2.39 percent and ROE increasing from 4.9 percent to 5.8 percent. Current ratio increased from 1.16 to 1.29.

Our total assets also increased from IDR 7 trillion to IDR 7.5 trillion YoY, in line with the purchase of heavy equipment used to support mining service projects. However, we continue to maintain our financial ratio to be optimal with a ratio of DER Interest Bearing 0.75. We hope that the increase in performance and acquisition of new contracts in the mining service business segment can continue to increase the following year and become a source of recurring income that can increase sustainable growth," concluded Arif Iswahyudi, Finance Director, Manrisk & Legal PPRE.