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PT GARUDA Maintenance Facility Aero Asia Tbk (GMFI) is maintaining business recovery momentum amidst performance pressure in the first semester of 2025. In fact, the company is not ambitious about setting a revenue target for this year.
Recalling that GMFI’s top and bottom-line performance was sluggish in the first half of the year, with revenue falling 17.33% year-on-year (YoY) to US$178.95 million and net profit falling 34.15% yoy to US$8.76 million.
According to Corporate Communications PT Garuda Maintenance Facility Aero Asia Tbk, Rian Fajar explained the cause. The maintenance slot originally scheduled for the beginning of the year has been shifted to semester II-2025. So, the realization of new income will be seen in the second half of this year.
In the midst of these conditions, he ensured that the company would maintain profitability through cost efficiency measures and optimizing the utilization of existing facilities.
Currently, GMFI is also preparing corporate action through plans for a rights issue and asset investment worth IDR5.56 trillion from PT Angkasa Pura Indonesia (API). The company believes this additional capital will strengthen GMFI’s equity structure, which was previously negative, as well as increase production and operational capacity.
In more detail, additional capital from this action will be focused on strengthening the component maintenance business, expanding into non-aviation sectors such as energy and transportation, as well as developing supporting facilities in Kertajati.
Apart from that, GMFI is now planning to work on the strategic Aerospace Park project at Kertajati West Java International Airport (BIJB). Currently, the progress is still at the stage of intensive discussions and negotiations with BIJB.
“This project is part of the company’s long-term strategy to make Kertajati an integrated MRO (Maintenance, Repair, & Overhaul) hub that can attract international customers,” explained Rian.
In terms of capital expenditure, GMFI has allocated capital expenditure (capex) worth IDR 75 billion for the full year 2025. To date, around 22% of the total budget has been realized with a focus on increasing component maintenance capabilities, modernizing MRO supporting equipment, and developing infrastructure for long-term expansion.
“For the full year 2025, GMFI is targeting revenues of around US$ 417 million, with growth expected to be healthier than the previous year. This figure is lower than the achievement for the full year 2024 at US$ 421.22 million, which grew 12.86% yoy,” he affirmed.
With this lower figure, the company is optimistic that the target can be achieved as the fleet reactivation project normalizes and demand for maintenance services increases.
Even so, Rian acknowledged that global challenges still haunt the aviation industry, especially in terms of supply chains and component price volatility. “We will continue to strengthen operational efficiency, increase productivity and build strategic collaboration so that performance is maintained and the business grows sustainably,” he concluded. [Kontan.co.id/photo special]
