Angkasa Pura I Recorded A Net Profit Of IDR 448 Billion Until July 2023

AP I President Director Faik Fahmi. (Photo: Mery Handayani/VOI)

JAKARTA PT Angkasa Pura I (AP I) recorded a net profit of IDR 448 billion in the January-July 2023 period.

AP I President Director Faik Fahmi said, in the January-July 2023 period, the total revenue of AP I reached IDR 5.21 trillion, an increase of 75 percent.

EBITDA reached IDR 2.32 trillion, an increase of 224 percent compared to the same period from last year. With this acquisition, the company also managed to record a net profit of IDR 448 billion in the January-July 2023 period," he said at the Media Gathering event, Wednesday, August 30.

Faik said, the achievement of AP I's financial performance could not be separated from the role of the company's operational performance which grew significantly until July this year.

"AP I recorded 45.3 million passenger movements at 15 airports in the period January 1 to August 28, 2023, growing 78 percent compared to the same period in 2022 of 25.4 million passengers," he said.

Faik said, the increase in AP I's operational and financial performance was also inseparable from the company's spirit of optimism to restore performance due to the impact of the COVID-19 pandemic.

"Various innovation and policy steps summarized in the transformation of AP I's business are optimal efforts for companies to continue to achieve the targets that have been set in the future," he said.

Pandemic Becomes A Heavy Blow

Faik acknowledged that the COVID-19 pandemic, which lasted almost three years, was a major blow to the company.

This is shown by the performance of companies that previously experienced very good revenue growth which decreased.

In 2019, continued Faik, the peak of AP I's revenue achievement was recorded at IDR 8.63 trillion, then a decrease of up to 63 percent in 2021 of IDR 3.21 trillion.

"The volatility of the aviation industry at that time made the company prepare transformation initiatives to support business recovery such as cost leadership, revenue improvement, and investment delays," said Faik.

The AP I business transformation was formed on the basis of the company's vision, namely 'Connecting the world beyond airport operator with Indonesian experience' which was lowered to strategic targets, both from the financial and operational aspects to support companies reaching Rebound to Win.

"It's a relief but surely, through corporate transformation, the increase in AP I performance will start to reach or even exceed the target set by the company for the 2022-2027 period," he explained.