PT Nusantara Infrastructure Tbk Remains Consistent in Maintaining the Stability of the Company's Performance and Business Throughout 2021
11 May 2022
Author: Administrator
Jakarta, Mei 11st , 2022 - The year 2021 is still filled with challenges and obstacles due to the COVID-19 pandemic that has spread and escalated throughout the world. Nevertheless, PT Nusantara Infrastructure Tbk (the Company) remains consistent in maintaining the stability of the Company's performance and business in 2021 in the Covid-19 Pandemic. In general, the Company's performance in 2021 will continue to run well, although external conditions are still dynamic. This was conveyed directly by the Company's Management at the Annual General Meeting of Shareholders (AGM), held on May 11 2022, at the Equity Building, SCBD, Jakarta, in a hybrid manner (online and offline).
Based on the Company's Consolidated Financial Statements and its Subsidiaries for the Financial Year of December 31, 2021, the Company's Operating Revenues and Sales (including Other Operating Income) in 2021 grew +25.4% to Rp675.1 billion from Rp538.4 billion in 2020. The toll road sector supported the increase, which contributed +33.8% growth from Rp328.3 billion to Rp439.3 billion. Next is the Renewable Energy sector, which grew +26.9% from Rp122.7 billion to Rp155.6 billion. Both sectors contributed due to the development of the Company's assets, namely the A.P. Pettarani Elevated Toll Road under the subsidiary PT Makassar Metro Network and the Lau Gunung Hydro Power Plant (PLTA) under PT Inpola Meka Energi. As a result of the development of these assets, the Company's Total Assets in 2021 amounted to Rp6.6 trillion, an increase of 12.7% compared to the previous year's position.
The Company's Operating Profit in 2021 was recorded at Rp150.8 billion, or 13.6% higher than in 2020 of Rp132.8 billion with a margin of 22.3%. Note: Margin calculation is taken from the Company's total Operating Revenues and Sales (including Other Operating Income items). Meanwhile, the Company's EBITDA was recorded at Rp263.7 billion, an increase of 24.2% compared to 2020 of Rp212.3 billion. Meanwhile, the Company's net profit in 2021 was recorded at Rp25.7 billion, which was mainly due to an increase in the cost of non-recurring items in the Other Operating Expenses (2021: Rp65.4 billion. 2020: Rp32.0 billion), an increase in amortization expenses as a result of the development of the Company's assets (from Rp79.5 billion to Rp112.9 billion) and an increase in finance costs (from Rp61.6 billion to Rp143.9 billion) on additional new investment credit loans of Rp1.5 Trillion to PT Makassar Metro Network for the development of the A.P. Pettarani Elevated Toll Road asset. and Rp375 billion to PT Inpola Meka Energi for the development of the Lau Gunung hydropower plant assets).
Ramdani Basri, President Director of the Company, said, "The Company has succeeded in implementing the right strategies and response to the development of external conditions, including carrying out various mitigations such as improving the quality of performance so that it is easier to realize investments and implement growth strategies through partnerships. The Company also adheres to the Company's policies regarding health first and cash preservation in terms of building cash and managing cash wisely, especially those related to OPEX & maintenance costs. This supports the stability of the Company's performance and business throughout 2021. In carrying out its business activities, the Company's focus on investing in quality strategic infrastructure sectors and prioritizing security and the environment by prioritizing 3 (three) principles, namely mobility, access, and connectivity.”
Throughout 2021, operational activities in the toll road sector showed positive developments. Among other things, the Ministry of Public Works and Housing (PUPR) has approved the technical recommendation to replace the box culvert with a bridge over the Cibenda River on the KM 8, BSD toll road section Pondok Aren-Serpong. Through a letter dated February 22, 2021, the Ciliwiung Cisadane River Basin Center, the Director General of Natural Resources and Conservation, said that the technical recommendations had met the technical requirements. In addition, the Minister of PUPR, through a letter to the President Director of PT Margautama Nusantara (MUN), has approved the construction of a toll road that will provide access to the Makassar New Port. The project financing is charged to PT Bintaro Serpong Damai (BSD), while PT JTSE will handle the maintenance. Through this project, the Indonesia Toll Road Authority (BPJT) has expanded the scope of BSD's work area by constructing the Makassar New Port Toll Access Road. Through the toll road business sector, the Company also obtained an international award, "The 2nd Mino Best Project Award", for the A.P. Pettarani Elevated Toll Road Project, Makassar. This new icon of Makassar City won an award from the Road Engineering Association for Asia and Australasia (REAAA) in the high-volume road category representing Indonesia.
Meanwhile, in the clean water sector, the Company still operates three water treatment plants or Water Treatment Plants (WTP), namely Tirta Kencana Cahaya Mandiri (TKCM WTP), located in Cikokol, Tangerang, Banten, with a total of 1,411 LPs of water distributed to customers, The Catur Tirta Manage Facility (SCTK WTP) in Serang, Banten, with a total of 185 LPs water distributed to customers and Dain Celicani Cemerlang (DCC WTP) in Medan, North Sumatra with a total of 93.6 LPs water distributed to customers. Of the three WTP, the Company has provided the clean water for urban, industrial and commercial areas located in the three water treatment plants.
Meanwhile, for the renewable energy sector, in 2021, the Company, through its business unit PT Inpola Meka Energi (IME), was able to sell 55,613,524 kWh or equivalent to 6.35 AHMW (Average Hourly Megawatt). This amount is higher than sales in 2020. Meanwhile, the amount of energy sold by other business units PT Rezeki Perkasa Sejahtera Lestari (RPSL) in 2021 was 100,929,465 kWh or equivalent to 11.52 AHMW. This amount is 5.6% higher than the amount of energy sold in 2020.
With efforts accompanied by a high commitment from various parties to maintain performance, improve performance quality, and strengthen operational excellence from business units, the Company can face the challenges that are present throughout 2021 and maintain business stability in the infrastructure sector so that sustainable infrastructure development can continue to materialize.
