Corporate FY17 Results

Taxi operator Blue Bird (BIRD) booked a net profit of Rp427 billion in 2017, declined 16.2% as revenues fell 12.3% to Rp4.2 trillion. Operating profit dropped 29.7% to Rp568 billion. Pressures from ride-sharing app led to steady decline of Blue Bird’s operating profit margin from around 25.2% in 2013 to 22.1% in 2014 and 13.5% only in 2017. Net profit margin also eroded fast from 18% in 2013 to 10.1% in 2017.

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