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Transindo Utama Express Efficiency

By administrator | August 17, 2020 | Infrastructure Transportation.
Transindo Utama Express Efficiency
Illustration: Transindo Utama Express Efficiency

Transindo Utama Express Efficiency. The Covid-19 pandemic affects almost all business sectors. Including transportation. One of them is the taxi operator PT Express Transindo Utama Tbk. The number of employees of this TAXI issuer has decrease from 471 people in December 2019 to 143 people in July 2020.

This means that 328 people or 69.6% of the total number of employees experience layoffs or contract terminations. Corporate Secretary of PT Express Transindo Utama Tbk, Yuniana, state. That the decline in the number of employees was in line with the internal restructuring. Or restructuring of the Company.

Through a consolidation of operations at both the head office and the pool. Everything happen due to declining business conditions due to the Covid-19 pandemic. A total of 143 employees of the Company were affect. Apart from layoffs, namely a reduction in employee salaries by 40% of the total monthly salary.

Which is expect to last for an undetermine period at this time, said Yuniana. Through an information disclosure on the Indonesia Stock Exchange, quote on Sunday (16 / 8). Employee housing in the transportation sector is not only experience by Express Taxis. This is because the corona pandemic has hit the transportation sector around the world.

Transindo Utama Express Stop Operations

Transindo Utama Express Efficiency
Illustration: Transindo Utama Express Efficiency

Yuniana explain, the corona pandemic cause a number of TAXI operations to stop in various areas. Due to the large-scale social restriction policy or PSBB. For example, operational restrictions on regular taxis and premium taxis in Jakarta, Depok, Tangerang and Bekasi (Jadetabek) and outside the city.

Not only that, vehicle and limousine rental services in Jakarta and Bali were also stop. As well as operational restrictions on bus rental services in Jadetabek. The termination and / or operational restriction above was mainly due. To a decrease in demand for public transportation services as well as the enactment of Large-Scale Social Restrictions (PSBB).

And the extension of the Transitional PSBB until August 2020, he said. As a result, Yuniana added, the company predicts that there will be a decrease in income of between 51% and 75% this year compared to last year’s due to the corona pandemic. Meanwhile, TAXI’s strategy is to reduce operational costs.

Namely adjusting the number of employees and closing a number of inactive pools. In terms of financial performance, PT Express Transindo Utama Tbk recorded a loss of Rp 43.44 billion during the first semester of 2020, down 62.47% compared to the loss the company experienced in the same period last year.

Transindo Utama Express Net Loss

In the first semester of 2019, the company posted a net loss of Rp. 115.78 billion. In the first half of this year, the company known as the Express taxi brand pocketed revenues of Rp 19.41 billion. This number has dropped to 62.47% compared to the first semester of 2019 which reached IDR 77.18 billion.

Based on the company’s unaudited financial statements, revenue from the taxi business was recorded at IDR 13.68 billion in the first semester of 2020. This figure has dropped by 75.57% compared to the first semester of 2019 which amounted to IDR 56.03 billion. From the vehicle rental business.

Express Transindo Utama only pocketed Rp 3.17 billion in revenue in the first semester of 2020. This achievement fell by 79.56% compared to the first semester of 2019, where the company was able to generate Rp 15.51 billion in revenue from the rental business. vehicle. Even so, the cost of revenue was able to be reduced by 56.62%.

To Rp 160.42 billion in the first semester of 2020. In the same period last year, Express Transindo Utama carried the cost of revenue of Rp 160.42 billion. Cost of revenue could drop drastically because expenses from depreciation of fleets and equipment in the first semester of 2020 fell 47.24% to Rp 46.37 billion.

Transindo Utama Express Expenses

In addition, the expenses for salaries and allowances decreased by 54.66% to Rp 12.5 billion. The first half of this year Express Transindo Utama was also able to reduce operating and administrative expenses by 63.95% to Rp 6.81 billion. In the same period last year, the company bore a burden of Rp. 18.89 billion in this post.

Throughout the first semester of 2020, the company took several efficiency steps because operations were affected by the corona pandemic. One of the steps taken was adjusting the number of employees and closing a number of taxi pools that were no longer active. Thanks to this efficiency measure.

Express Transindo Utama was successfully suppressed during the first semester of 2020. This had a direct impact on performance, even though the company overall still posted a net loss.

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