Jakarta, October 24 2024 – PT VKTR Teknologi Mobilitas Tbk (“VKTR”) has announced its consolidated financial report for the third quarter of 2024 (3Q24). The company recorded net revenue of IDR 646 billion from its electric vehicle sales and spare parts manufacturing business. VKTR also posted a gross profit of IDR 123 billion with an improved gross profit margin.

VKTR's net revenue in 3Q24 declined to IDR 646 billion compared to IDR 891 billion in the same period in 2023. This aligns with data from Gaikindo, which reported a 21% decline in commercial vehicle sales in Indonesia as of September 2024. However, net revenue still showed stable quarterly growth with an average increase of 7.9%.

Gross profit decreased to IDR 124 billion in 3Q24 from IDR 156 billion in 3Q23. Despite this, the gross profit margin rose from 17.5% in 3Q23 to 19.1% in this period, primarily driven by production efficiencies in the spare parts manufacturing segment and contributions from truck and forklift sales

“The company has experienced stable quarter-on-quarter growth throughout 2024, and we are optimistic this growth will continue as more purchase orders come in across various VKTR product lines,”, said Gilarsi W. Setijono, President Director of VKTR.

As of the end of September 2024, VKTR secured a Transjakarta tender through operators for 20 units of 12-meter electric buses in a Completely Knocked Down (CKD) format. These units are targeted for delivery by the end of this year and are expected to contribute positively to reducing transportation emissions in Jakarta.

Beyond the Transjakarta project, VKTR has successfully secured several Purchase Orders (PO) from government agencies and state-owned enterprises (SOEs), including units for Compactors, Dump Trucks, and Arm Roll Trucks. Notably, two electric Compactor units have already been operational in the Nusantara Capital City (IKN) since August 2024.

In addition, VKTR’s CKD-based Electric Vehicle Facility under construction in Magelang, Central Java, has reached 86% completion and is targeted for completion by the end of 2024. This facility will be the first in Indonesia capable of producing electric commercial vehicle chassis using the CKD method. This achievement has also been recognized by the Ministry of Industry, as the domestic component level (TKDN) for the 12-meter bus product has surpassed 40%.

VKTR remains committed to innovating and providing environmentally friendly transportation solutions while enhancing sustainable financial performance. Although the commercial EV market still faces adoption challenges, climate action is becoming a key driver in policymaking, indicating that the electrification of commercial mobility is only a matter of time. With a strong commitment to sustainability, VKTR is optimistic about meeting stakeholder expectations and contributing to the transformation of Indonesia’s transportation industry.

About PT VKTR Teknologi Mobilitas Tbk:
PT VKTR Teknologi Mobilitas Tbk. (VKTR pronounced "Vektor") - is a pioneer in the electrification of the commercial vehicle segment in Indonesia. VKTR as officially listed its shares (IPO) on the Indonesia Stock Exchange on June 19, 2023 as the first commercial electric vehicle issuer in Indonesia to conduct an IPO. VKTR is committed to accelerating sustainable mobility in Indonesia through manufacturing and strategic partnerships with best-in-class electric vehicle manufacturers.

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VKTR Corporate Communications
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