JAKARTA, 7 May 2018: Indonesia’s Panorama Destination travel group fell short of its inbound tour target in 2017, mainly due to the volcanic eruptions of Mount Agung in Bali, according its report to shareholders at its AGM last week.
One of Indonesia’s leading destination management company, PT Destinasi Tirta Nusantara Tbk, reported a gross profit of 25.9% or IDP 143.2 billion during its 2017 financial year.
The destination management company operates under the trademarks of Panorama Destination and Asia World Indonesia.
PDES reported details of its performance during the company’s annual general meeting for shareholders held last week in Jakarta.
In 2017, the company recorded a gross profit of 25.9%, or IDP 143.2 billion and recorded a slight growth in revenue, of 0.95%, or IDR 507.9 billion in 2017.
Growth of net income was 14.3%, or IDR 29,5 billion, up from IDR 25.8 billion in 2016. This year, the company will not offer share dividends to shareholders.
The company said it faced a major challenge in the fourth quarter of 2017 due to the eruption of Bali’s Mount Agung from November to December.
The volcanic eruptions caused the closure of Ngurah Rai International Airport in Bali for three days at the end of November. This had a significantly negative impact on the company’s performance.
The company achieved 84% of its target for 2017 representing 161,800 foreign visitors handled, against a target of 180,000.
However, the company expressed optimism that it can reach a target of 20% revenue growth during 2018.
Currently, it has set out a plan to be a major regional tourism player in ASEAN. The region has shown positive growth in the tourism sector due to connectivity and economic growth in several emerging ASEAN countries.
Targeted countries include in the company’s plan are Malaysia, Thailand and Vietnam.
Earlier this year, the company opened its new operational office in Cengkareng Business City, located close to Soekarno-Hatta International Airport.
On the Sustainable Tourism front, the company in 2017 was certified as a Travelife partner in Indonesia. Travelife is an International body that assesses and certifies companies that conduct sustainable operations in conserving nature, culture, and the environment.
The company also strives to achieve government targets to bring in 17 million foreign tourists in 2018.
Highlights so far this year include developing and selling tour package for Asian Games spectators, handling delegates for the IMF World Bank Annual Meeting in Bali, and promoting the national programme of Visit Wonderful Indonesia 2018.
Under the trademark Panorama Destination and Asia World Indonesia, the company is a destination management company (inbound tours) with 45 years of experience. It employs 700 employees dispersed across eight offices in Jakarta, Bali, Lombok, Medan, Jogjakarta, Labuan Bajo, Makassar and Singapore.
