JAKARTA – In Q1 2024, PT Pembangunan Jaya Ancol Tbk (PJAA) collected net profit of IDR 13.02 billion, down 71.05% year-on-year (yoy) from the same quarter in 2023 of IDR 44.98 billion. The declining performance of this regional-owned enterprise of DKI Jakarta is due to decreased revenue on top of swollen expenses.

In the Financial Report of Q1 2024 quoted today (26/4), Jaya Ancol’s operating revenue slipped 1.80% yoy to IDR 255.65 billion from IDR 260.34 billion seen in the same period in 2023.

PJAA’s revenue mostly came from ticket sales of IDR 174.04 billion, followed by other operating revenue of IDR 60.47 billion. Hotel and restaurant brought in IDR 15.78 billion, and real estate generated IDR 5.67 billion of revenue throughout Q1 2024.

For comparison, in Q1 2023, ticket sales contributed IDR 185.41 billion, while hotel and restaurant managed to score IDR 19.51 billion of sales, followed by zero income in real estate segment.

In Q1 2024, gross profit was reported at IDR 112.51 billion, down 21.31% yoy from IDR 142.99 billion, and accordingly, gross profit margin in Q1 2024 was at 44.01%, much lower than the margin seen in Q1 2023 of 54.92%.

Jaya Ancol’s operating profit was nearly halved, down from IDR 96.08 billion to IDR 50.01 billion. This decline resulted from increased general and administrative expenses from IDR 53.87 billion to IDR 60.18 billion, and other expenses doubled from IDR 3.11 billion to IDR 7.82 billion. Therefore, the current year’s net profit slipped 71.48% yoy from IDR 44.68 billion to IDR 12.74 billion. (LK/ZH)