PP Presisi (PPRE) Secures New Contracts Worth IDR 6.7 Trillion in 2023

ISSUER NEWS - JAKARTA. PT PP Presisi Tbk (PPRE) recorded a new contract worth IDR 6.7 trillion throughout 2023. The contract acquisition increased by 28.7% year on year (yoy) compared to December 2022, which was IDR 5.2 trillion.

PPRE's President Director, I Gede Upeksa Negara, stated that at the end of 2023, PPRE obtained a new contract worth IDR 923.2 billion. This value is dominated by mining service projects worth IDR 574.5 billion, civil construction worth IDR 163.4 billion, supporting business lines worth IDR 28 billion, and additional work on civil work projects through its subsidiary PT LMA worth IDR 157.1 billion.

Therefore, throughout 2023, this subsidiary of PT PP (Persero) Tbk (PTPP) obtained a new contract worth IDR 6.7 trillion. The contract value comes from PPRE worth IDR 4.9 trillion and the rest comes from the subsidiary entities.

Throughout the year, the mining services sector remained the main contributor to the new contract value, amounting to IDR 4.4 trillion or contributing 66% of the total. There was an 11% growth compared to 2022.

Gede said the growth of the mining services sector shows the company's strategy to remain focused on mining services is correct.

"With the potential market in the mining sector that is still very large in the future, it becomes our spirit and motivation to continue to increase the value of new contracts so that it can boost revenue to increase value added for all stakeholders," he said in an official statement, Tuesday (30/1).

This year, PPRE is targeting growth in new contract value of 15%-20% with a focus on the mining services sector. Meanwhile, to boost the construction services sector, they will continue to synergize with PTPP as the parent company.

"We will not forget to continue to strengthen financial performance through superior products that always prioritize quality and safety based on risk management to generate maximum profit for a healthy and sustainable company," he added.