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PT GARUDA Maintenance Facility Aero Asia Tbk (GMFI) targets to still be able to reap revenues of US$4 million with the pandemic conditions that are still ongoing this year.
According to the President Director of GMFI, Andi Fahrurrozi on Friday (8/20) said the company’s revenue projections for its current financial performance are still dynamic, especially during the current COVID-19 pandemic.
“The ups and downs of the company’s income are strongly influenced by the implementation of Community Activity Restrictions (PPKM) as well as the limited number of passengers traveling on flights. Until now, the company is optimistic that Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) remains positive,” he said.
If we do the calculations, he continued that assuming the current situation, this year’s EBITDA is around US$4 million. Capital Expenditure (Capex) is targeted at US$5 million. Why is that only because we will prioritize the realization of capex related to product diversification.
To achieve this target, Andi plans to enlarge the segmentation in the military and defense industries, turbine engines, and maintenance works that are not directly affected by commercial flights.
He projects those revenues from the industrial gas turbine engine (IGTE) segment and the defense industry can grow by around 20% of total revenue this year.
“This year we are focusing on how our operations can be positive. We are gradually recovering financial conditions, maintaining positive operating profits. So, we are focusing on projects with high profitability,” he explained.
Similarly, GMF VP Corporate Secretary & Legal Rian Fajar Isnaeni said the company had implemented a number of strategic steps since last year to deal with the dynamics of the COVID-19 pandemic. A number of strategies in question include optimizing redelivery work by lessors, as well as business diversification into the cargo, private/business jet, defense industry, and non-aviation segments that are less affected by the pandemic.
“The company has also implemented cash flow management policies and optimizing production capacity to maintain business continuity. Through these steps, GMFI is able to reduce operating expenses, record revenue growth for redelivery work by lessors, and obtain alternative income through business diversification,” he concluded. [bisnis.com/photo special]
