Friday, 22 June 2018 | 02:41 WIB

PTPP Posts 50 Percent Net Profit Growth to IDR1.72 Tln in 2017

PT PP (Persero) Tbk.

JAKARTA, NNC - PT PP (Persero) Tbk (IDX:PTPP) or PTPP posted revenue growth of 31 percent to IDR21.5 trillion in 2017. In the previous year, revenue was only about IDR16.5 trillion. The acquisition is supported by various projects, especially infrastructure projects.

Construction Services segment is the largest contributor to revenue which reached 70 percent. The remaining is from Engineering, Procurement, and Construction (EPC) segment, and Property & Realty respectively with 15 percent and 13 percent.

Tumiyana, President Director of PTPP, explained that the company achieved Gross Profit and Operating Income of IDR3.25 trillion and IDR2.52 trillion respectively, reflecting solid growth of 32 percent and 29 percent YOY. "Thus, Gross Profit Margin and Operating Profit Margin are each maintained at the level of 15 percent and 12 percent," he explained in a written statement on Monday (3/12/2018).

He said the company generated a Net Profit of IDR1.72 trillion in 2017, rising 50 percent compared to IDR1.14 trillion in the previous year. After taking into account Non-Controlling Interest, the Earnings Per Share (EPS) of the company reached IDR234 per share in 2017, up from IDR206 per share in 2016.

The Company also recorded Cash and Cash Equivalents of IDR9.3 trillion. Meanwhile, the total of Interest-bearing Debts reached IDR8.9 trillion, Equity of IDR14.2 trillion and Total Assets IDR41.7 trillion.

According to Tumiyana, this financial position reflects a Gearing Ratio of 0.6 times and Net Gearing Ratio of -0.05 times as well as Interest-bearing Debts-to-Asset ratio of 0.2 times. These ratios reflect the quality of the company's financial health and enormous financial capacity.

"The Company strives to keep the financial foundation firm, so this strong capital structure will be the foundation for sustained corporate growth while creating added value for our shareholders," he said.

Furthermore, he said, large financial capacity gives PTPP the opportunity to participate in large-scale projects, even creating their own investment projects to create recurring income in subsequent years.

In addition, the company also posted a positive Operating Cash Flow of IDR1.4 trillion, up 48 percent compared to IDR986 billion in 2016. This achievement reflects the Company's consistency in maintaining the health of its cash flow.

"In the midst of challenges and competition in the increasingly competitive Construction Industry in the country, PTPP was not only able to deliver performance that grows rapidly, but also the quality growth with solid financial foundation and healthy cash flow," he concluded.