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Public Expose 2025
Financial Result Full Year 2024
March 25, 2025
DISCLAIMER:
This document contains financial conditions and result of operation, and may also contain certain projections, plans, strategies, and
objectives of the Company, which would be treated as forward-looking statements within the meaning of applicable law. Forward looking
statements, by their nature, involve risk and uncertainty that could cause actual results and development to differ materially from those
expressed or implied in these statements. PT Blue Bird Tbk does not guarantee that any action, which may have been taken in reliance on
this document, will bring specific results as expected.
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About PT Blue Bird Tbk
Used-Car Trade
& Maintenance
Auction
Logistic
o Established in 2001, PT Blue Bird Tbk is a leading
Indonesian mobility company listed on the IDX
(ticker: BIRD).
o Core services include taxi and nontaxi operations.
o Committed for Safety, Comfortable, Easy, and
Personalized.
o Focused on sustainability and innovation through digital
transformation.
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PT Blue Bird Tbk Board of Directors
President Director
Vice President Director Adrianto Djokosoetono Director
Sigit Djokosoetono Irawaty Salim
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Where We Are Now ...
Bluebird at a glance
Started as a taxi company, Bluebird has
transformed to an adaptive mobility company
by integrating our 3M Strategy: ~24,200 fleets │ ~26,000 drivers
> 600 exclusive outlets │ 58 depo │ 20 cities
Multi-Product Multi-Channel Multi-Payment
Continuously exploring businesses as Adapting to evolving customer Offering seamless and variety of
an integrated mobility service.. channel preferences.. choice for payment:
Taxi service Auction Our own channels e-Voucher (eCV)
E-wallet &
Rental Used-Car & Maintenance And partnership with ... Credit card QRIS in-fleet Cash
Bus & Shuttle Delivery Service
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What's New in 2024 …
Cititrans launches The MyBluebird App
New Features in Our
Cititrans Buslines Continuously Revamps
Services
Its Features
Servicing connected
routes across Java, MyBluebird
including Jakarta, Subscription
Semarang, Bandung, Plan
Cititrans Busline Yogyakarta, Solo, Malang,
and Surabaya.
Fixed Price
Option
BRT Services Expansion
to Medan
Marking Its Second BRT
City and First EV Bus Charter
Bus Rapid Transit Portfolio. Hourly
(BRT)
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Performance Overview …
23.4k 19.8k 20.9k 23.0k 24.2k
fleets fleets fleets fleets fleets
In Rp Bn
5,040 +14%
Pandemic 4,422 YoY
Revenue 3,590
Net Profit With only +5%
2,221 additional in fleets
2,047
count in FY24.
364 463 593 +28% the Company manage
(163) YoY
9 to book higher growth
by 14% for the topline
2020 2021 2022 2023 2024
FY24.
ROA -2.2% 0.1% 5.3% 6.1% 7.0%
Key Ratios
ROE -3.1% 0.2% 6.8% 8.2% 9.9%
Debt-to-
0.24x 0.16x 0.13x 0.18x 0.23x 8
Equity
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Taxi
Revenue Shifts Toward a More
Regular Executive
Taxi Taxi Diversified Business …
NonTaxi
Rental Bus
Car Charter 27.7% 29.0%
72.3% 71.0%
InterCity
Shuttle Inter
Province
Shuttle
FY 2023 FY 2024
Taxi
Non-taxi
Auction
Used-Car & Logistik 9
Maintenance
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Profit and Loss Overview …
In Rp Bn
margin to revenue
5,040 2023 2024
4,422
31.7% 32.3%
25.0%
23.9%
11.8%
12.6% 10.5%
12.2%
1,629
1,404
1,108 1,203
541 634 593
463
Revenue Gross Profit Operating EBITDA Profit After
+14% +16% Profit +17% +9% Tax +28%
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Balance Sheet Overview …
In Rp Bn 8,441 In Rp Bn
2,446
7,253 7,580
6,598 6,893 1,162 2,018 1,949
799 983
946 891 1,451 1,542
1,360
Liabilities
1,250 1,016
Assets
5,668 5,855 6,442 678
4,938 5,281 840
864 932 1,086
768 611
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Other Total Other Total
Cash Fixed Asset Bank Loan
Assets Assets Liabilities Liabilities
▪ 76.3% of total assets are contributed by Fixed In Rp Bn
Assets, representing the Company’s fleets and
5,995
other supporting infrastructure. 5,236 5,148 5,351 5,631
▪ The Company recorded a Net Debt of Rp198 Bn, 2,763
with significant headroom for leverage. 2,763 2,763
2,763 2,763
Equities
▪ The Company is pursuing continuous
improvement in its Capital Structure. As of the 2,375 2,287 2,485 2,757 3,118
end of 2024, the Debt-to-Equity ratio remained
low at 0.23x. 2020 2021 2022 2023 2024
▪ The Company’s equity continues to grow at a Capital Called Retained
NCI
Total 11
stable level, in line with its performance. & Held Earnings Equities
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Cash Flow Overview …
345
(51)
In Rp Bn In Rp Bn
(649)
1,093 (913)
1,091 1,059
957
334 382
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Net cash from Operating Activities Net cash from/(used for) Investing Activities
▪ The Company continues to generate positive
cash flow from operating activities, with FY 2024
recording Rp1,059 Bn.
53 94 33
In Rp Bn
▪ Net CapEx was recorded at Rp913 Bn, with gross (363)
CapEx spending at Rp1,369 Bn, the majority of (580)
which was allocated to fleet purchases and
related necessities.
▪ In FY 2024, the Company recorded net financing 2020 2021 2022 2023 2024
activities of Rp33 Bn, primarily due to loan 12
drawdowns, in line with CapEx spending. Net cash from/(used for) Financing Activities
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CapEx Spending…
Gross Capex (in Rp Bn) Fleet Movement (in units)
1,394
Net
1,369 Dec-23 Dec-24
changes
23.0k +1.2k 24.2k
fleets fleets fleets
FY 2023 FY 2024
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Beyond Performance,
We Deliver Sustainable Actions!"
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February April August
December November
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January February April May July
December November October August
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ISO 27001
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