Ancol Jaya's Profits Plunge 44% in the First Half of 2024

PT Pembangunan Jaya Ancol Tbk (PJAA) reported net profit attributable to the parent entity of Rp59.82 billion in the first half of 2024.

This net profit decreased by 44.47% year-on-year (yoy) compared to the same period last year, which amounted to Rp107.74 billion.

In line with this, Ancol's operating revenue also decreased by 1.84% (yoy), from Rp578.62 billion in the first half of 2023 to Rp567.95 billion in the first half of this year.

This revenue decline occurred across almost all of its supporting segments. Specifically, ticket revenue amounted to Rp401.83 billion, a correction of 2.63% (yoy).

In addition, hotel and restaurant revenue also decreased by 16.81% (yoy) to Rp37.4 billion in the first half of this year.

Meanwhile, real estate revenue reached Rp5.67 billion, and other operating revenue reached Rp123.79 billion, an increase of 1.45% year-on-year (yoy).

Despite the revenue decline, Ancol's cost of goods sold and direct expenses decreased by 8.81% to Rp293.26 billion in the first half of 2024.

As of the end of June 2024, PJAA's total assets reached Rp3.66 trillion, down 1.99% (yoy) compared to the end of December 2023, which was valued at Rp3.74 trillion.