JABAR EKSPRES – PT PP Presisi Tbk (IDX:PPRE), a company engaged in mining and construction services based on heavy equipment, obtained a new contract of Rp5.2 trillion in 2022, with the majority of new contract acquisition Non-PP Group by 93 percent and PP Group by 7 percent.
Based on business line segmentation, the Company’s new contract acquisition is dominated by 2 main business lines, namely civil work 41 percent, mining 55 percent, while the remaining 4 percent is obtained from supporting business lines.
“The majority of our Non-PP Group new contract acquisition is obtained in mining and civil service projects which improve the Company’s positioning as a main contractor in the mining and civil fields,” said Director of Finance, Manrisk and Legal of PT PP Presisi Tbk., Arif Iswahyudi, in a statement after the Annual General Meeting of Shareholders (AGM) for the fiscal year 2022 in Jakarta, Thursday (5/25).
The company also recorded a good and positive company performance for the 2022 Financial Year with revenue reaching IDR 3.6 trillion from IDR 2.8 trillion in 2021 or an increase of 29.5 percent year on year (YoY), EBITDA also increased by 14 percent YoY from IDR 937 billion in 2021 to IDR 1.1 trillion in 2022.
Then, the Company also posted a net profit of IDR182 billion, an increase of 24.6 percent from IDR146 billion in 2021 on a YoY basis.
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PPRE shareholders at the Annual GMS have also approved the use of the Company’s net profit for the fiscal year 2022 of IDR182 billion, with net profit attributable to owners of the parent entity of IDR100,751,654,542, which will be used for mandatory reserves of IDR5,037,582,727, or 5 percent of net profit, and retained earnings of IDR95,714,071,815, or 95 percent of net profit.
“The development of mining services is part of our strategy to obtain recurring income with long-term contract revenue and increase the Company’s competitiveness and positioning as a main contractor in mining and construction services,” said Arif.