VKTR Ensures Commercial Vehicle Parts Business Continues to Grow
- Dokumentasi VKTR.
Jakarta – Chief Executive Officer of VKTR Mobility Technology (VKTR), Gilarsi W. Setijono, reported that in 2023 there was a rapid growth in the commercial vehicle parts segment.
This has also impacted VKTR's financial performance, which saw a total asset increase of 62 percent to IDR1.66 trillion from IDR1.03 trillion before.
"Most of it was due to the proceeds from our initial public offering in mid-2023," Setijono said in a statement on Friday.
Meanwhile, Setijono reported that total liabilities had also decreased by 31 percent to IDR521 billion in 2023, from IDR758 billion previously.
Direktur Utama VKTR, Gilarsi W. Setijono.
- VIVA/Mohammad Yudha Prasetya.
This was mainly due to a significant decrease in total short-term liabilities.
Setijono also conveyed that based on the company's consolidated financial statements, net income in 2023 was only IDR1.06 trillion compared to the achievement in 2022 of IDR1.07 trillion.
"This adjustment is mostly due to the shift in bus purchases by the Government sector, which is expected to recover in the following period," Setijono remarked.
In addition, Setijono ensured that VKTR's commercial vehicle parts manufacturing business will continue to grow in the future.
This is driven by strong demand from the company's major customers in the commercial vehicle sector.
This growth is mainly triggered by the transition from EURO 2 to EURO 4 vehicle technology, and the post-pandemic transportation market recovery as well as increased OEM sales.
As for the commercial electric vehicle segment, the company has expanded its client portfolio from initially only B2G (Business to Government) to B2B (Business to Business). This is marked by the sale of electric buses to private companies in 2023," Setijono explained.
As information, in recognizing the current market challenges and opportunities, VKTR has expanded its focus to the B2B sector.
The company targets industries that require vehicles for their needs, including mining hauling, plantation logistics, and cargo transportation.
This effort is also complemented by the development of promising product prototypes and trials, which signify VKTR's commitment to innovation and operational excellence.
Although the B2G sector remains an important part of VKTR's strategy, this diversification aims to reduce dependence on government purchases that can be influenced by political and economic factors.
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