WEHA Transportation Net Profit Skyrockets 237 Percent In The First Quarter Of 2023

Financial illustration (Photo: Antara)

JAKARTA - The transportation company PT WEHA Transport Indonesia Tbk (WEHA) recorded a net profit of IDR 5.2 billion in the first quarter of 2023. This amount increased 237 percent compared to the same period the previous year.

President Director of WEHA Andrianto Putera Tirtawisata said the company's net profit was supported by revenue which increased 65 percent yoy to Rp55 billion in the first quarter of 2023, from the previous Rp33 billion in the first quarter of 2022.

Quoting Antara, Thursday, April 27, the Company posted an EBITDA which increased 77 percent yoy to Rp16 billion in the first quarter of 2023, from the previous Rp9 billion in the first quarter of 2022.

Andrianto explained that the company has three business lines, including charter buses, intercity shuttles and logistics, as well as open trip tour packages.

He revealed that the revenue from the bus charter (White Horse) segment increased by 50 percent yoy, from the previous Rp15.5 billion in the first quarter of 2022 to Rp23 billion in the first quarter of 2023.

Then, the income from the intercity shuttle (DayTrans) segment increased by 92 percent yoy, from the previous Rp15.6 billion in the first quarter of 2022 to Rp30 billion in the first quarter of 2023.

For the open trip or Explorer.ID segment, revenue also increased by 30 percent yoy to Rp1.4 billion in the first quarter of 2023, from the previous Rp1.1 billion in the first quarter of 2022.

In the charter bus business line, he explained that the company continues to promote the company segment for corporate shuttle and outing activities, the school segment especially for field trip activities, as well as the individual sector where there is such a large pent-up demand obtained through social media roles.

Meanwhile, in the intercity shuttle business line, during 2023 the company will add fleets, add new counters, and maintain routes that become favorites for customers.

With the addition of the fleet, according to him, the company managed to get a significant increase in revenue, which the package business also contributed to the utilization of vehicles per trip run on the interference shuttle and logistics lines.

In the second quarter of 2023, the company also added several new fleets prepared to anticipate the spike in Lebaran homecoming in 2023.

"The company also renovates several fleets, so customers feel comfortable when using the company's fleet," said Andrianto.