Panorama (PANR) Records 114% Growth in Operating Profit in Q3 2019

Jakarta, November 29, 2019. The global economic slowdown has remained a concern throughout 2019. Several factors contributing to the slowdown include the Brexit deadlock, which created a "wait and see" situation in the European Union, while the US-China trade war impacted countries with trade balances linked to these two economies. Some ASEAN countries, including Indonesia, have been somewhat affected by the global situation. However, Indonesia’s economy has still grown at 5.1%. Generally, growth is supported by strong domestic purchasing power, which has helped maintain household consumption, although secondary and tertiary consumption has tightened.

The middle class’s purchasing power remains strong, as indicated by the sales of tourism packages offered by Panorama (PANR), both international and domestic. Domestic overland packages saw a significant increase of 78%, handling nearly 50,000 domestic tourists to various destinations across Indonesia. This is partly attributed to the rise in domestic ticket prices and the completion of the Trans-Java toll road.

For the year 2019, up until Q3, Panorama (PANR) posted a 114% growth in operating profit. This positive performance is the result of the company's efforts in controlling operational costs, which decreased by 33%. “We will continue to optimize existing opportunities and resources by maximizing the ICT systems we have built to achieve efficient productivity growth,” said Angreta Chandra, the Director of the company, during the Public Exposure event on November 29, 2019, in Jakarta. Angreta added that the management is now selective in choosing events, exhibitions, or promotions that are suitable for the market and products offered. With this careful approach, Panorama (PANR) has been able to maintain its competitive edge.

Through its Inbound business line, which attracts international tourists, Panorama continues to expand its operations to Southeast Asia. In July, the company opened an operational office in Vietnam, and last year it opened an office in Malaysia. Meanwhile, the Travel & Leisure business line continues to focus on outbound and domestic travel packages, corporate travel services, and incentive travel for companies. In the Media business line, the company has organized 10 major exhibitions this year, one of which is the Indonesia Maternity & Baby Expo, which is taking place from today (29/11) until Sunday (1/12) at JCC Senayan, Jakarta. Lastly, in the Transportation business line, under the White Horse brand, the company has formed partnerships with numerous corporations, schools, and also offers open-trip products that are currently popular among millennials through the Explorer brand.

During the Public Exposure 2019 event, the company also launched a new website with more complete information on the company’s activities. “We always strive to provide the latest updates on the company’s performance to stakeholders, in line with Good Corporate Governance standards,” added Anastasia Xenia, the company’s Secretary. The website can be accessed at www.panorama-sentrawisata.com.

About PT Panorama Sentrawisata Tbk
PT Panorama Sentrawisata Tbk (IDX: PANR), founded in 2001, is a public company in Indonesia that focuses on enhancing the country’s tourism industry. It is the parent company of 32 subsidiaries, including joint ventures with prestigious global strategic partners. Supported by four business pillars: Destination Management (Inbound Tours), Travel & Leisure, Media (Convention and Exhibition Organizer, Publication), and Land Transportation, PANR is one of the leading tourism companies in Indonesia. www.panorama-sentrawisata.com