PP Presisi Wins New Contract Worth A Total Of IDR 4.9 Trillion Until September 2023

Photo: Doc. PP Precision

JAKARTA - PT PP Presisi Tbk (PPRE) won a new contract with a total acquisition of new contracts reaching Rp4.9 trillion until September 2023 or 70 percent of the target set in 2023. The achievement of the new contract increased 69.2 percent year on year (yoy) compared to September 2022 amounting to Rp2.93 trillion.

The value of this new contract is dominated by the Company which contributes to the marketing value of IDR 4.1 trillion or 84 percent of the total value of the new contract with the rest obtained from the PPRE subsidiaries. Meanwhile, based on the Company's business line, the new contract is dominated by the mining services sector by 78 percent or IDR 3.8 trillion, followed by civil construction services of 18 percent.

Mining services include mining development work and supporting infrastructure, while civil construction services include toll road construction work, structure work, and production plant.

The total addition of this new contract came mostly from external employers or outside the PP Group with a total contract value of 73 percent and PP Group of 27 percent. Along with the Company's strategy to expand the external market share/outside the PP Group, it has proven that PPRE is able to compete in the national construction sector. In addition, PPRE continues to synergize with PP Group in infrastructure development such as toll roads, airports, ports, dams and so on.

"The company's new contract acquisition target in 2023 will reach IDR 6 trillion-IDR 7 trillion, where the largest composition is mining service work and civil construction services as the Company's core business. As a Heavy Equipment-Based Integrated Construction Company, we believe mining services can become a sustainable business and can have a positive impact on the Company in order to increase profitability," said I Gede Upeksa Negara President Director of PT PP Presisi Tbk, in a statement, Tuesday, October 31.

With three months remaining in 2023, he continued, his party is optimistic that it can achieve the year-end target by increasing the acquisition of new contracts by IDR 2 trillion-IDR 3 trillion.

"This addition is still projected to come from several mining service projects and civil construction services. We hope that the acquisition of new contracts in 2023 can improve optimal performance in the coming years," concluded I Gede Upeksa Negara.