Quarter III 2017, PT PP Profit grows up to 75 percent

INDUSTRY.co.id - Jakarta - The leading construction and investment company in Indonesia PT PP (Persero) Tbk, announces third quarter performance results in 2017. Operational performance as well as the Company's new contract raise its consolidated revenue to grow by 27% year-on-year.

Revenue in the third quarter of 2017 reached Rp13.8 trillion compared to the achievement of Revenue of Rp10.8 Trillion in Quarter III 2016. After Operating Expenses, the Company printed Operating Income of Rp1.6 trillions in Quarter III 2017, or grew 33% year-on- year compared to Operating Income of Rp1.2 Trillion in the same period of the previous year.

This achievement reflects PTPP's operating profit margin of 11.8% in the third Quarter of 2017, higher than the 10.3% achieved in the third Quarter of 2016.

Net Income Attributable to the owners of the Parent Company in the third Quarter of 2017 reached Rp990 billion, an increase of 75% year-on-year or Rp423 billion, compared to Rp567 billion achieved in the third quarter of 2016.

With this achievement, PTPP's Net Profit Margin in Quarter III 2017 reached 7.2% compared to 5.2% achieved in the same period of the previous year.

"To improve efficiency and maintain profitability, the Company continuously maintains operational excellence and improves engineering capacity," said Tumiyana in Jakarta, Monday (30/10/2017).

PTPP maintains a sound financial condition reflected in both the capital structure and the leverage ratio of the Company. As of September 30, 2017, PTPP has Cash and Cash Equivalents including Short-Term Investments of Rp6.4 Trillion with Total Interest Bearing Debt of Rp8.2 Trillion
and Capital amounting to Rp12.5 Trillion.

This position reflects the Company's gearing and net gearing ratios of 0.66x and 0.15x as per September 30, 2017. The Company's EBITDA in Q3 / 2017 reached Rp1.8 trillion, up 45% year-on-year
compared to Rp1.2 trillion in the same period of the previous year.

Therefore, the Company recorded Debt-to-EBITDA and Net Debt-to-EBITDA ratios of 3.13x and 0.70x respectively. In addition, the company also has an EBITDA interest coverage ratio of 7.53x per 3rd Quarter of 2017 compared to the achievement of 6.38x per Quarter III 2016.

"A strong and healthy financial position will support the creation of greater financial capabilities for PTPP to support infrastructure development in Indonesia and create sustainable growth and enhance shareholder value," Tumiyana concluded.