This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Kontan - Pendapatan PTPP dari proyek IKN capai Rp 2,8 triliun di 2023
6 March 2024
By Pulina Nityakanti
Kontan.co.id – Jakarta. PT PP (Persero) Tbk (PTPP) recorded a satisfactory performance in 2023. Last year, projects in Nusantara Capital City (IKN) contributed Rp2.8 trillion to its revenue.
Referring to the public disclosure at the Indonesia Stock Exchange (IDX), PTPP’s profit reached Rp481.36 billion in 2023. The amount increased by 77% from the Rp271.69 billion recorded in 2022.
PTPP’s revenue also increased in 2023. As of the end of last year, PTPP has registered a revenue of Rp19.99 trillion, which increased by 5.66% from the Rp18.92 trillion recorded in 2022.
In detail, most of the company’s revenue is contributed from construction services, reaching Rp14.68 trillion in 2023.
Additionally, revenue from engineering, procurement, and construction (EPC) stood at Rp2.3 trillion, while property and realty contributed Rp2.2 trillion. Financial assets from concession projects amounted to Rp304 billion, and revenue from equipment lease reached Rp153.79 billion.
Furthermore, revenue from the energy sector totalled to Rp147.1 billion, toll roads brought in Rp68.3 billion, and precast generated Rp59.23 billion.
PTPP Corporate Secretary Bakhtiyar Efendi said that the increase in PTPP’s profit was attributed to the increase in its revenue. Furthermore, PTPP's profit from joint ventures also increased, along with its efficiency in mitigating reserved costs.
In detail, its sales include Indrapura-Kisaran toll road, Kalibaru Port Phase 1B, the project for Vale, Makassar Vertical UPT Hospital, and other projects in IKN.
“PTPPs revenue from projects within IKN in 2023 reached Rp2.8 trillion,” he said to Kontan on Tuesday (5/3).
Bakhtiyar said that PTPP was still targeting a conservative growth in 2024. PTPP is currently focused on completing national strategic projects and IKN.
“Meanwhile, PTPP is still waiting for the policy on infrastructure development from the government,” Bakhtiyar said.
As of today, Bakhtiyar said that PTPP was still working on several projects.
“There are still many ongoing projects. For example, the BNI Building in Kapuk, Patimban Port, Probolinggo-Banyuwangi toll road, and Kolaka Smelter,” he stated.
