Profit Increases 73.77 Percent, Pelindo Subsidiary Earns IDR 78.92 Billion In Semester I

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Indonesia Vehicle Terminal Tbk (IPCC) posted a profit for the year, which increased 73.77 percent year on year (yoy) to IDR 78.92 billion in the first semester of 2023.

IPCC Investor Reza Priyambada explained that the company's net profit was supported by revenue which increased 21.37 percent (yoy) to IDR 366.96 billion in the first semester of 2023, from IDR 302.34 billion in the same period last year.

He detailed that the revenue of this subsidiary of PT Pelabuhan Indonesia (Pelindo) is still dominated by terminal services of Rp336.13 billion, followed by goods services of Rp20.26 billion, the rest contributed from similar services and land, buildings, water, and electricity.

Along with the increase in revenue, continued Reza, the company posted a cost of revenue which increased 12.25 percent (yoy) to Rp194.20 billion in the first semester of 2023, from the previous Rp173 billion in the same period last year.

"IPCC's gross crime was also boosted by 33.58 percent (yoy) to IDR 172.76 billion in the first semester of 2023," he quoted Antara as saying.

Reza continued that the company recorded EBITDA, which increased 35.26 percent (yoy) to Rp191.29 billion in the first semester of 2023, this achievement was in line with the increase in operating profit by 33.57 percent (yoy) to Rp108.22 billion.

Then, the company recorded a net profit margin (NPM) of 21.51 percent in the first semester of 2023, from the previous 15.02 percent in the same period the previous year.

Along with that, the company's gross profit margin also increased to 47.08 percent (yoy), from the previous 42.78 percent and operating profit margin increased to 29.49 percent, and EBITDA margin increased to 52.13 percent.

Previously, in the annual general meeting of shareholders (AGMS), this subsidiary of BUMN decided to distribute cash dividends of IDR 90.49 billion or equivalent to IDR 49.77 per share for the 2022 financial year.

The company distributed an interim dividend of IDR 22.7 billion in early 2023, bringing the total dividend distributed to IDR 113.2 billion or equivalent to 70 percent of the net profit for the 2022 financial year.