Making Revenue of Rp3.5 Trillion until April, IPC Hasn’t Revised the Yearly Target Yet

State port operator PT Pelabuhan Indonesia II/IPC booked Rp 3.5 trillion revenue during January-April, 2020. Though the container throughput was slightly down by 4.8% during the period, but its revenue was likely steady, thanks the higher contribution of other services run by its subsidiaries.

Referring to this stable revenue, this leading operator of Indonesia’s ports is optimistic to reach its yearly target of 2020, and no need to revise it.

IPC President Director Arif Suhartono affirmed the coronavirus (covid-19) outbreak had given some pressures to any sectors, including the port activities. He said, the pandemic had caused a slightly drop overall the IPC’ ports, but revenue had shown a steady performance.

“The throughput (container volume) has dropped slightly during January-April, by 4.8%, but the corporate revenue seems stable, thanks to the increasing financial performance of some of our subsidiaries,” Arif said in statement released today, Sunday, May 31.

He named IPC Marine PT Jasa Armada Indonesia (JAI) – a subsidiary of IPC running business in pilotage and towage – as one of subsidiaries that enjoyed a significantly financial growth during the period.

In the first quarter (Q1) 2020, JAI’s revenue reached Rp184 billion, increasing 20% year-on-year, from Rp 154 billion in Q12019.

Arif also explained that IPC has taken several steps in anticipating a further impact of this pandemic.

“For example, we make services more effective throughout all terminals, thus ensuring all vessels can berth according to their schedule,” Arif said, adding that since the beginning of this covid-19 outbreak, all IPC port and terminals operate normal and all vessel berthing and stevedoring had been running as usual.

Arif said, up to date, IPC has not revised the yearly revenue target of 2020 yet. The corporate will save its target as contracted in the early year at least until June. “Let us see after June,” he said.

As reported earlier, in 2019, IPC booked revenue of Rp 11.14 trillion, with net profit reaching Rp 2.50 trillion.

With the economy activities in China – the world’s biggest country of economy and the country of origin of covid-19 pandemic – , IPC expects the trade activity will come to normal and the port throughput will recover, especially the throughput of Tanjung Priok, the Indonesia’s main gateway of trade and the biggest contributor to IPC Group.

In January-April, Tanjung Priok throughput reached 2.12 million TEU.

“We hope that within the new normal period, we can control the covid-19 pandemic, so the economy can recover and the container volume will increase soon,” he said.

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