GMF Aero Asia Revenues Exceed Target in Q3 2017

INDUSTRY.co.id - Jakarta - In the third quarter of 2017, PT Garuda Maintenance Facility Aero Asia Tbk (GMF) managed to record revenues of US $ 310.5 million. This figure exceeded the target of third quarter earnings in 2017 that is US $ 304.4 Million or 102% of the initial projections.

President Director of the company, Iwan Joeniarto said that the company's performance continues to increase from year to year, coupled with a floor in the capital market.

"With the achievement of a positive performance and supported by operational excellence, we believe GMF has strong fundamentals to move in the capital market," Iwan said in a written note on Monday (23/10/2017).

According to Iwan, the achievement of this income also experienced a growth of 15% compared with the third quarter of 2016 ago.

In addition, GMFI's net profit also matches the 2017 target of US $ 38.1 million, an increase of 8.9% from the third quarter of 2016 amounting to US $ 35 million. The third-quarter revenue percentage was 73.2% of the overall target at the end of 2017 of US $ 424 million.

This good achievement comes from the increased volume of engine maintenance and component maintenance work that is also the focus of GMF business development in 2017, he added.

Iwan added, efforts to improve the capability of Engine maintenance also contributed to the achievement of third quarter tag 2017 this.

This positive revenue contribution resulted from revenue growth by 25% component maintenance business line, airframe maintenance 18% and engine maintenance 15%.

"GMF continues to increase revenue from customers so that the revenue ratio of non Garuda Indonesia Group is larger in the next 3 years," said Iwan.