PT Indonesia Kendaraan Terminal (IDX: IPCC), a publicly listed car terminal operator, has reported its highest-ever profit, marking a significant milestone in the company’s history. The subsidiary of Pelindo Multi Terminal Subholding (SPMT) posted a net profit of IDR 212.22 billion in 2024, reflecting an 11.19% year-on-year increase from IDR 190.85 billion in 2023.
In its audited financial report released on Wednesday, March 26, 2025, IPCC proudly announced that this achievement is the highest recorded in its history and the first time the company has exceeded IDR 200 billion in profit.
This milestone was driven by strategic transformations in both commercial and operational aspects, as well as the company’s focus on standardization and digitalization across various supporting functions.
IPCC’s stellar financial performance also translated into a revenue increase of 12.16%, reaching IDR 824.60 billion in 2024, compared to IDR 735.20 billion in the previous year.
Tanjung Priok terminal remains the dominant contributor, accounting for 91.09% of total revenue (IDR 757.77 billion). Meanwhile, the IPCC Satellite Terminals across various regions in Indonesia contributed 8.76% (IDR 66.34 billion). These satellite terminals—located in Belawan, Pontianak, Balikpapan, Makassar, and Banjarmasin—commenced operations on October 1, 2024.
In terms of cargo types, Completely Built-Up (CBU) vehicles made the largest contribution to revenue, generating IDR 613.61 billion (74.79% of total revenue). Heavy equipment and bus/truck cargo generated IDR 80.45 billion (9.76%) and IDR 90.10 billion (10.93%), respectively.
IPCC remains dedicated to providing the highest standards of service in terms of security, safety, and cargo handling.
In 2024, the company successfully introduced a new business model, implementing a single billing system. Additionally, IPCC saw a 3.49% increase in total assets, growing from IDR 1.78 trillion in 2023 to IDR 1.85 trillion by the end of 2024.
This growth was largely attributed to a 20.92% rise in cash and cash equivalents, which reached IDR 810 billion.
Value Creation
Wing Megantoro, Director of Finance, HR, and Risk Management, commented, “The company’s focus on creating value—particularly from a financial perspective—has been central to this success.
This includes cost-efficiency measures that are not directly linked to income, as well as leveraging integrated digital payment systems like PRAYA. PRAYA allows service users to view their bills in real time, reducing the need for face-to-face interactions and ultimately shortening the Company’s Average Collection Period (ACP).”
He further highlighted IPCC’s commitment to becoming a leading vehicle terminal. “We base our services on the Indonesian National Standards (SNI). In 2024, we were proud to receive the bronze category award from the National Standardization Agency (BSN).”
“Additionally, to ensure that all strategic plans align with Good Corporate Governance (GCG) principles, we implement risk management-based governance. This approach has earned us prestigious recognition at the ASEAN level, including Runner-Up in the ASEAN Risk Champion Category 1 at the 2024 ASEAN Risk Awards in Bangkok, Thailand,” he said further.
IPCC President Director Sugeng Mulyadi expressed his gratitude for the company’s performance, saying, “We are deeply thankful and appreciative of the support from our customers, vendors, employees, shareholders, and stakeholders. This achievement would not have been possible without their trust and collaboration.”
Sugeng also emphasized that the company’s excellent performance was made possible by the superior service provided throughout 2024, including the expansion of service capacity through the PDC, the integration of logistics services, the addition of satellite terminals, and the implementation of new business models.
Key Strategies for 2025 Ahead
Looking ahead to 2025, IPCC plans to continue its business strategy by refining its master plan for the multi-terminal (vehicle logistics ecosystem) sector.
The company will focus on both organic and inorganic business expansion, while strengthening operations and advancing digitalization. One of the key initiatives already underway is the Go-Live PTOS-C application at the international terminal, which aims to integrate services and adopt cutting-edge technology to improve operations.
Bagus Dwipoyono, Director of Engineering and Operations, explained, “To further enhance operational services and ensure customer satisfaction, we are focusing on team readiness, work safety, and sustainable transformation. Our ‘3 No’ work principle—no cause defect, no accept defect, no continuous defect—guides our approach to operational excellence.”
Endah Dwi Liesly, Corporate Secretary, added, “In addition to improving financial performance, IPCC’s dynamic approach to business growth takes into account environmental, social, and sustainable governance elements, in alignment with the Sustainable Development Goals (SDGs).”