WEHA Transportasi Indonesia, also known as White Horse Group, is an Indonesian transportation company that is strategically planning to boost its performance through the addition of new fleets. The company has allocated approximately Rp60 billion for capital expenditure (capex) this year to acquire new vehicles, with Rp30 billion already realized, accounting for 50% of the capex allocation.
According to Edgar Surjadi, the Director of Finance & Accounting at White Horse Group, the majority of the funds will be used to expand the intercity shuttle business, particularly through the addition of mini vans, as well as to increase the fleet of medium buses for passenger transportation and bus charters. As of the first half of the year, the consolidated number of WEHA vehicles reached nearly 400 units, with plans to meet the capex target in the second semester using internal and external financing, including bank loans.
Despite the company’s positive financial performance, Edgar highlighted some challenges faced by WEHA, such as difficulties in purchasing new fleets, especially mini vans, due to limited supply in the market. To mitigate this risk, the company is collaborating with dealers to ensure a smooth supply of vehicles.
In terms of financial results, WEHA reported a revenue of Rp143.8 billion, representing a 16.77% increase year-on-year compared to the first half of 2023. Edgar mentioned that all three business segments of the company – bus charter White Horse, intercity shuttle and logistics DayTrans, and open trip Explorer.ID – recorded positive revenue in the first semester of 2024.
Specifically, the revenue from the bus charter segment increased by 15% from Rp50.4 billion in the first half of 2023 to Rp57.8 billion in the first half of 2024. Similarly, the revenue from the intercity shuttle segment rose by 18% to Rp80 billion compared to Rp67.8 billion in the first half of 2023. The open trip segment also saw a 15% increase in revenue to Rp5.4 billion in the first semester of 2024.
In the bus charter business, WEHA focuses on the B2B segment for corporate shuttles and outings, the school segment for field trips, and the individual sector (FIT). On the other hand, the increase in revenue in the open trip segment was driven by higher demand during Eid holidays and long vacations.
With the rise in revenue, WEHA’s cost of goods sold also increased by 24.65% year-on-year to Rp90.82 billion. As a result, WEHA’s gross profit increased by 5.35% to Rp52.97 billion in the January-June 2024 period compared to Rp50.28 billion in the same period in 2023.
After deducting expenses and other costs, WEHA reported a net profit of Rp14.23 billion, a 2.72% increase from the first half of 2023. These financial results reflect the company’s efforts to expand its fleet and improve its services to meet the growing demand in the transportation sector.
In conclusion, WEHA Transportasi Indonesia’s strategic approach to adding new fleets and diversifying its business segments has proven to be successful in driving revenue growth and maintaining a positive financial performance. As the company continues to address challenges and capitalize on opportunities in the market, it is poised for further success in the transportation industry.
