Covid-19: Indonesia's PTDI swings into the black but pandemic could dampen outlook

PT Dirgantara Indonesia (PTDI) – the country’s biggest defence-aerospace firm – has attributed an improvement in its financial performance to internal restructuring and streamlining.

The company said in its annual shareholders meeting on 26 June that it recorded net profits of the equivalent of USD10.6 million in fiscal year (FY) 2019 following losses of USD38.5 million one year earlier.

PTDI, which is wholly stated owned, added that the value of its sales in FY 2019 was USD260.9 million, an increase of nearly 15% over the USD227.7 million it recorded in FY 2018. In addition, PTDI said the value of contracts it secured in 2019 was USD130.8 million, a year-on-year increase of 5%.

Indonesia’s PT Dirgantara, which produces the CN-235 transport aircraft (pictured), has attributed profits in 2019 to its efforts to improve efficiencies. (Janes/Ridzwan Rahmat)

PTDI said its improved performance was the result of a “company transformation programme” through which it was pursuing “several strategic initiatives” to improve internal effectiveness and optimise operating processes.

The aim of these measures, it said, is to achieve enhanced efficiencies “while still increasing the acquisitions of contracts and sales”.

PTDI is partnered with several foreign equipment manufacturers on producing aircraft for the Indonesian armed forces and export customers.

Its most high-profile partnership is with Airbus with which PTDI produces fixed- and rotary-wing aircraft including the CN-235 medium transport aircraft, the NC-212 light transport aircraft, and NAS-332 Super Puma helicopters.