The tourism sector continued to shine in 2023, with PANR (PT Panorama Sentrawisata Tbk) recording revenue of IDR 2 trillion in the third quarter of the year—an increase of 140% compared to the same period in 2022, which stood at IDR 847 billion.

This significant rise also reversed the company's net profit position in Q3 to a positive IDR 104 billion, compared to a loss of IDR 10 billion in the same period last year. The company also reported a 573% growth in EBITDA, reaching IDR 175 billion in Q3 2023—soaring from IDR 26 billion in Q3 2022.

Earnings per share (EPS) also saw a turnaround this year, rising to IDR 48.41 compared to last year’s negative IDR 7.73 per share.

This remarkable growth is attributed to the official end of the pandemic in mid-2023, which restored public confidence in traveling and vacationing.
“Pent-up demand remains high. We continue to see increasing demand for both corporate incentive travel and retail leisure packages. This year, we’re navigating through three holiday seasons—Eid, school holidays, and the Christmas–New Year period. We’ve already begun selling holiday packages for the Christmas–New Year break,” said AB Sadewa, Corporate Secretary of PANR.

PANR’s positive performance is also supported by its smart operation strategy, implemented over the past three years. This strategy has helped the company control operating expenses at a 50–60% level.

The smart operation initiatives include:

Digitizing business processes
Developing a B2B2C model through the ‘Panorama Agent’
Expanding online distribution for the corporate segment via COBT (Corporate Online Booking Tools)
Exploring new markets through Islamic travel packages and millennial-targeted travel products

The company remains optimistic that it will close 2023 with performance levels nearing pre-pandemic conditions.

(MS)

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