Analisis dan Pembahasan Manajemen
Tinjauan Umum
Pandemi Covid-19 berdampak sangat luar biasa bagi
kemanusiaan, ekonomi, dan keuangan di seluruh dunia.
Kecepatan penyebaran pandemi Covid-19 ke 138 negara di
seluruh dunia, jauh melebihi pandemi sebelumnya (SARS
dan MERS). Covid-19 telah menyerang lebih dari 60 juta
orang positif dan 1,4 juta orang meninggal. Covid-19 telah
menyebabkan kemandekan mobilitas manusia dan aktivitas
perekonomian dunia. Bahkan, pandemi Covid-19 telah
menyebabkan resesi ekonomi dunia dan di banyak negara,
kepanikan dan ketidakpastian pasar keuangan, serta
banyaknya penduduk jatuh dalam kemiskinan.
Perekonomian Global
Kinerja perekonomian global mulai menunjukkan perbaikan
pada triwulan II 2020, aktivitas perekonomian dunia mulai
meningkat meskipun masih dibayangi risiko gelombang
kedua pandemi Covid-19. Perbaikan Ekonomi berbeda dari
satu negara ke negara lain, tergantung pada besarnya stimulus
fiskal dan moneter, serta kesuksesan penanganan Covid-19
dan meningkatnya mobilitas manusia.
Ekonomi Tiongkok mulai mencatat pertumbuhan positif pada
triwulan III-2020 dan diperkirakan sebagai negara pertama
yang mulai pulih pada triwulan IV-2020. Perbaikan ekonomi
juga tercatat di Amerika Serikat (AS), meski disertai dengan
kasus Covid-19 yang tertinggi. Sementara itu, perbaikan
ekonomi lebih terbatas di Eropa, India, dan Amerika Latin.
Pemulihan ekonomi global terlihat pada peningkatan
beberapa indikator dini di bulan Oktober 2020, seperti
mobilitas masyarakat global, Purchasing Managers’ Index
(PMI) Manufaktur dan Jasa di beberapa negara, serta
keyakinan konsumen di AS dan Eropa. Volume perdagangan
dan harga komoditas dunia juga meningkat. Ke depan,
perbaikan ekonomi global diperkirakan terus berlanjut,
setelah terkontraksi 3,8% pada tahun 2020.
Perekonomian Indonesia
Pandemi Covid-19 juga berdampak luar biasa pada
kesehatan, ekonomi, dan keuangan Indonesia, terutama pada
triwulan II-2020. Hingga 25 November 2020 tercatat lebih
dari 500 ribu kasus positif di Indonesia dengan pasien
sembuh berjumlah sekitar 425 ribu dan pasien meninggal
sekitar 16,1 ribu.
Kebijakan pembatasan sosial yang perlu ditempuh untuk
mencegah penyebaran Covid-19 berdampak pada
menurunnya mobilitas manusia di hampir seluruh kota-kota
besar pada periode April hingga Juni, dan berdampak pula
pada menurunnya aktivitas perekonomian pada triwulan II
2020.
Management Discussion and Analysis
General Overview
The COVID-19 pandemic has had a considerable impact on
humanity, economies and finances throughout the world.
Rapid spread of the Covid-19 pandemic to 138 countries
around the world had gone beyond the previous pandemics
(SARS and MERS). Covid-19 has affected more than 60
million people tested positif and 1.4 million people died.
Covid-19 has led to stagnation of human mobility and
activity of the world economic. Moreover, the Covid-19
pandemic has caused economic recession in the world and in
many countries, panic and uncertainty in financial markets,
and many people falling into poverty.
Global Economy
Global economic performance began to show improvement
in the second quarter of 2020, world economic activity began
to increase even though it was still overshadowed by the risk
of a second wave of the Covid-19 pandemic. Economic
improvements in each country differ depending on the size of
the fiscal and monetary stimulus and the handling Covid-19
and increasing human mobility.
China's economy began to record positive growth in the third
quarter of 2020 and is estimated to be the first country to
begin to recover in the fourth quarter of 2020. Economic
improvement was also recorded in the United States (US)
even though it was accompanied by the highest Covid-19
cases. Meanwhile, economic recovery was more limited in
Europe, India and Latin America.
Global economic recovery can be seen in the improvement of
several early indicators in October 2020, such as global
community mobility, Manufacturing and Services Purchasing
Managers' Index (PMI) in several countries, as well as
consumer confidence in the US and Europe. Trade volumes
and world commodity prices also increased. Looking ahead,
the global economic recovery is expected to continue, after
contracting 3.8% in 2020.
Indonesian Economy
The Covid-19 pandemic has also had a considerable impact
on Indonesia's health, economy and finance, especially in the
second quarter of 2020. Until November 25, 2020, more than
500 thousand positive cases in Indonesia were recorded with
around 425,000 recovered patients and around 16.1 thousand
deaths.
Social restriction policies that need to be taken to prevent the
spread of Covid-19 have an impact on decreasing human
mobility in almost all major cities in the period of April to
June, and have an impact on decreasing economic activity in
the second quarter of 2020.
Pengendalian Covid-19 bersamaan dengan realisasi program
Pemulihan Ekonomi Nasional (PEN) menjadi kunci
pemulihan ekonomi. Permintaan domestik (konsumsi &
investasi) diperkirakan tetap menjadi lokomotif penggerak
pertumbuhan ekonomi nasional setelah pulih dari pandemi
Covid-19. Konsumsi Pemerintah didorong untuk mendukung
momentum pertumbuhan, melanjutkan kebijakan
countercyclical, dan mengakselerasi program PEN pasca
pandemi Covid-19.
Perbaikan ekonomi sejalan dengan realisasi stimulus fiskal,
meningkatnya mobilitas masyarakat, dan membaiknya
permintaan global. Ekonomi Indonesia pada triwulan III-
2020 tumbuh sebesar 5,05% (qtq) dari kontraksi 4,19% (qtq),
atau kontraksi pertumbuhan menurun menjadi 3,49% (yoy)
dari 5,32% (yoy) pada triwulan sebelumnya. Realisasi
stimulus Pemerintah meningkat terutama berupa bantuan
sosial, belanja barang dan jasa lainnya, serta transfer ke
daerah dan dana desa (TKDD).
Kinerja ekspor diperkirakan akan membaik, seiring
pemulihan kinerja ekonomi global yang diikuti upaya
perluasan negara tujuan potensial ekspor. Kinerja ekspor
didorong permintaan global terutama dari AS dan Tiongkok,
tercatat pada sejumlah komoditas seperti besi dan baja, pulp
dan waste paper, serta tekstil dan produk tekstil (TPT).
Sejumlah indikator menunjukkan perbaikan, seperti mobilitas
masyarakat, penjualan eceran nonmakanan dan online, PMI
Manufaktur, serta pendapatan masyarakat. Ke depan,
pertumbuhan ekonomi diperkirakan akan meningkat
didorong oleh membaiknya perekonomian global serta
akselerasi realisasi anggaran Pemerintah Pusat dan
Pemerintah Daerah, kemajuan dalam program restrukturisasi
kredit, serta berlanjutnya stimulus moneter dan
makroprudensial Bank Indonesia.
Tinjauan Industri
Sebagai BUMN manufaktur transportasi di Indonesia, PT
Industri Kereta Api (Persero) telah berhasil mengekspor
produknya ke Filipina di masa pandemi Covid-19. Hal ini
menunjukkan bahwa produk dari industri nasional mampu
kompetitif dalam memenuhi kebutuhan pasar luar negeri.
PT INKA (Persero) telah memproduksi lokomotif dan kereta
penumpang yang memiliki performa tangguh dan berkualitas,
serta membawa ragam fitur yang cukup menarik dan
fungsional. Keunggulan inilah yang dimiliki oleh PT INKA
(Persero), sehingga diminati dan menjadi daya tarik tersendiri
bagi costumer mancanegara dan berhasil masuk ke dalam
pasar ekspor.
Pada 2020 Perseron Perseroan telah berhasil merilis produk
pengembangan yaitu Bus Listrik (Electric Vehicle Bus)
bernama E-Inobus yang saat ini sedang dilakukan uji
operasional selama 3 bulan bekerjasama Transjakarta. Bus
listrik merupakan solusi sarana angkutan massal ramah
lingkungan (greenvehicle) karena tidak lagi menggunakan
bahan bakar fossil sebagai sumber tenaga dan memiliki
Control of Covid-19 along with the realization of the
National Economic Recovery (PEN) program is the key to
economic recovery. Domestic demand (consumption &
investment) is estimated to remain the locomotive driver of
national economic growth after recovering from the Covid-19
pandemic. Government consumption is encouraged to
support growth momentum, continue countercyclical
policies, and accelerate the PEN program after the Covid-19
pandemic.
The economic recovery is in line with the realization of fiscal
stimulus, increased mobility of the people, and improved
global demand. Indonesia's economy in the third quarter of
2020 grew by 5.05% (qtq) from a contraction of 4.19% (qtq),
or a contraction in growth declined to 3.49% (yoy) from
5.32% (yoy) in the previous quarter. Realization of
Government stimulus increased, especially in the form of
social assistance, spending on goods and other services, as
well as regional transfers and village funds (TKDD).
Export performance is expected to improve, in line with the
recovery in global economic performance followed by efforts
to expand potential export destination countries. Export
performance was driven by global demand, especially from
the US and China, recorded in a number of commodities such
as iron and steel, pulp and waste paper, as well as textiles and
textile products. A number of indicators showed
improvement, such as community mobility, non-food and
online retail sales, Manufacturing PMI, and community
income. Going forward, economic growth is predicted to
accelerate, driven by improving global economy as well as
accelerating realization of Central and Regional Government
budgets, progress in the credit restructuring program, and
continuing monetary and macroprudential stimulus by Bank
Indonesia.
Industry Overview
As a state-owned transportation manufacturing company in
Indonesia, PT Industri Kereta Api (Persero) has succeeded in
exporting its products to the Philippines during the Covid-19
pandemic. This shows that products from national industries
are able to be competitive in meeting the needs of foreign
markets.
PT INKA (Persero) has produced locomotives and passenger
trains that have strong performance and quality, and carry a
variety of attractive and functional features. PT INKA
(Persero) possesses this advantage so that it is in demand and
becomes the main attraction for foreign customers and
successfully enters the export market.
In 2020 the Company managed to release a development
product, namely Electric Vehicle Bus named E-Inobus which
is currently undergoing operational test for three months in
collaboration with Transjakarta. The electric vehicle bus is an
environmentally friendly mass transportation solution (green
vehicle) because it no longer uses fossil fuels as a source of
energy and has a low noise level.
tingkat kebisingan yang rendah.

Pekerjaan di tahun 2020 telah diselesaikan pengiriman Work in 2020 has completed delivery of products to
produk kepada pelanggan sebanyak 3 Lokomotif dan 231 customers including 3 Locomotives and 231 Cars for train
Cars produk kereta. Rincian proyek/pekerjaan dan jumlah products. The details of projects/work and the number of
pengiriman produk sebagaimana data pada table berikut; product deliveries are shown in the following table;

Proyek / Project Terkirim / Delivered Jumlah Pesanan / Order Penyelesaian / Completion

Quantity

31 Trainset (@6Cars) LRT 17 TS (102 Cars) 19 TS (124 Cars) 61%

Jabodebek / 31 Trainset
(@6Cars) of LRT Jabodebek

10 Trainset (@4Cars) 3 TS (12 Cars) 3 TS (12 Cars) 30%

Revitalisasi KRL KFW / 10
Trainset (@4Cars) of KRL
KFW Revitalization

200 MG Passenger Coach 86 Cars 200 Cars 100%

Bangladesh / 200 MG
Passenger Coach Bangladesh

4 Trainset (@4Cars) DMU 16 Cars 16 Cars 100%

Phillipina / 4 Trainset
(@4Cars) of Philippine DMU

3 Lokomotif dan 15 Cars 3 Lokomotif + 15 Cars / 3 3 Lokomotif + 15 Cars / 3 100%

Passenger Coach Phillipina / Locomotives + 15 Cars Locomotives + 15 Cars
3 Locomotives and 15 Cars of
Philippine Passenger Coach

Total / Total 3 Lokomotif + 231 Cars / 3

Locomotives + 231 Cars

Industri alat transportasi merupakan salah satu sektor yang
mendapat prioritas pengembangan berdasarkan Rencana
Induk Pembangunan Industri Nasional (RIPIN) 2015-2035.
“Fokus pengembangan industri kereta api hingga tahun 2035
adalah pengembangan kereta listrik untuk dapat memenuhi
kebutuhan dalam negeri dan pasar ekspor.
The transportation equipment industry is one of the sectors
that receive development priorities based on the 2015-2035
National Industrial Development Master Plan (RIPIN). "The
development focus of the railway industry until 2035 is the
development of electric trains to be able to meet the needs of
the domestic and export markets.

Melalui surat Wakil Menteri BUMN II nomor
S-53/Wk2.MBU/08/2020 tanggal 14 Agustus 2020 hal
Rencana Konsolidasi BUMN Sektor Perkeretaapian,
Kementerian BUMN menyampaikan bahwa dalam rangka
penataan dan peningkatan value BUMN, Kementerian
BUMN akan melakukan konsolidasi BUMN sector
perkeretaapian, dimana akan menjadikan PT Industri Kereta
Api (Persero) sebagai anak perusahaan PT Kereta Api
Indonesia (Persero).
Through letter of the Deputy Minister of SOE II number S-
53/Wk2.MBU/08/2020 dated August 14, 2020 regarding the
SOE Consolidation Plan for the Railway Sector, the Ministry
of SOEs said that in the context of arrangement and
increasing the value of SOEs, the Ministry of SOEs will carry
out consolidation of SOE in the railway sector by making PT
Industri Kereta Api (Persero) a subsidiary of PT Kereta Api
Indonesia (Persero).

Rencana Konsolidasi BUMN Sektor Perkeretaapian akan The SOE Consolidation Plan for the Railway Sector will be
dilakukan melalui penambahan penyertaan modal Negara carried out through the additional State capital participation
pada PT Kereta Api Indonesia (Persero) dengan cara
melakukan inbreng saham PT Industri Kereta Api (Persero).
Pelaksanaan dari rencana konsolidasi BUMN Sektor
Perkeretaapian tersebut bergantung pada diperolehnya
persetujuan dari Presiden berupa Peraturan Pemerintah atas
dasar usulan Menteri Keuangan. Rencana akusisi PT Industri
Kereta Api (Persero) oleh PT Kereta Api Indonesia (Persero)
menjadi contingency risk bagi perusahaan di tahun 2021.
Tinjauan Operasi per Segmen Usaha
Sebagai badan usaha yang mempunyai kemampuan mandiri
dan berkembang untuk mewujudkan visi dan melaksanakan
misinya, PT INKA (Persero) menjalankan 5 (lima) Pilar
Bisnis Utama meliputi (1)pengembangan produk manufaktur,
(2)pengembangan usaha Engineering, Procurement,
Construction (EPC), (3)pengembangan usaha service dan
retail serta (4)kerjasama dan Joint Venture dan (5) Bisnis
Operator.
I. PRODUK MANUFAKTUR
Melalui penetrasi pasar, baik domestik maupun regional
masih menjadi tumpuan bisnis yang dapat dikembangkan
dengan menerapkan strategi khusus dan diperlukan
konsistensi dalam peningkatan kualitas, metode produksi
maupun teknologinya.
1. Manufaktur Kereta Api
Program pengembangan manufaktur kereta api diarahkan
untuk memperkuat pasar pada produk berteknologi tinggi
menuju pasar bernilai tambah tinggi dengan menciptakan
feature khusus untuk segmen yang dipilih. Untuk
memperkuat pasar, perusahaan melakukan program
pengembangan:
• Lokomotif Diesel Hidrolik dan Lokomotif Diesel
Elektrik dilakukan bekerja sama dengan industri
sarana kereta api dunia.
• Pengembangan sarana angkutan KRL/MRT/
Monorail/LRT untuk perkotaan maupun antar kota
KRDI/KRDE/KRL serta angkutan bandara.
• Pengembangan Bogie dan konstruksi car body
ringan berbasis alumunium untuk kereta api
angkutan perkotaan dan sebagai langkah awal
penguasaan teknologi High Speed Train.
Untuk mendukung pencapaian program basic load berbasis
job order tersebut diperlukan investasi berupa:
• Peremajaan fasilitas, permesinan/alat-alat produksi.
• Pemenuhan peralatan uji untuk menjaga kualitas.
• Pembangunan workshop baru untuk meningkatkan
kapasitas produksi.
1. Manufaktur Non Kereta Api
Dalam rangka mengembangkan pasar dan memenuhi target
penjualan PT INKA (Persero) sudah memulai:
• Mengerjakan Produk transportasi perkotaan
in PT Kereta Api Indonesia (Persero) by means of an inbreng
of shares of PT Industri Kereta Api (Persero).
The implementation of the SOE consolidation plan in the
Railway Sector depends on obtaining approval from the
President in the form of Government Regulation on the basis
of proposal of the Minister of Finance. The plan of PT
Industri Kereta Api (Persero) acquisition by PT Kereta Api
Indonesia (Persero) is a contingency risk for the company in
2021.
Operations Overview per Business Segment
As a business entity that has the ability to be independent and
develop to realize its vision and carry out its mission, PT
INKA (Persero) operates 5 (five) Main Business Pillars
including (1) manufacturing product development, (2)
Engineering, Procurement, Construction (EPC), (3) service
and retail business development as well as (4) cooperation
and Joint Venture and (5) Operator Business.
I. MANUFACTURING PRODUCTS
Through market penetration, both domestic and regional are
still the cornerstone of the business that can be developed by
implementing a special strategy and consistency is required
in improving the quality, production methods and
technology.
1. Railway Manufacturing
The railway manufacturing development program is aimed at
strengthening the market for high-tech products towards high
value-added markets by creating special features for the
selected segment. To strengthen the market, the company
conducts a development program:
• Hydraulic Diesel Locomotives and Electric Diesel
Locomotives are carried out in collaboration with
the world railroad industry.
• Development of KRL/MRT/Monorail/LRT
transportation facilities for urban and intercity
KRDI/KRDE/KRL as well as airport
transportation.
• Development of a Bogie and aluminum-based
lightweight car body construction for urban
transport trains and as an initial step in mastering
High Speed Train technology.
To support the achievement of basic load program based on
job order, investment is needed in the form of:
• Rejuvenation of facilities, machinery/production
tools.
• Fulfilment of test equipment to maintain quality.
• Development of new workshops to increase
production capacity.
1. Non-railway Manufacturing
In order to develop market and meet sales targets, PT INKA
 seperti: bus ATC, single bus, railbus, dan tram.
•Mengembangkan bus listrik (low floor electric
bus) untuk angkutan penumpang bandara.
• Mengembangkan produk transportasi logistic
perkebunan dan pertambangan seperti: LLO
(Lori Listrik Otomatis), dan cable ways.
Untuk mendukung pengembangan di atas diperlukan strategi
pengadaan dalam rangka pemenuhan target proyek.
II. PENGEMBANGAN USAHA EPC
PERKERETAAPIAN
Dalam usaha mengurangi ketergantungan terhadap pasar
yang ada (Kementerian Perhubungan dan PT KAI) dan
untuk membangkitan peran Swasta dan Pemerintah Daerah
serta untuk meningkatkan pertumbuhan laba perusahaan,
maka PT INKA (Persero) telah melakukan pengembangan
usaha berbasis project meliputi:
1. Angkutan perkebunan (Agro), berupa sistem
angkutan dari lahan tanam menuju tempat
pengolahan sampai lokasi distribusi (pelabuhan)
seperti sistem angkutan perkebunan kelapa sawit
(angkutan buah kelapa sawit dan CPO).
2. Angkutan bahan tambang, berupa sistem angkutan
mulai dari lahan tambang sampai dengan pelabuhan
distribusi maupun sistem angkutan lainya
(transporter).
3. Angkutan barang logistik maupun khusus berbasis
kontainer – angkutan kontainer dari dry port menuju
titik-titik distribusi (speed cargo).
4. Angkutan kereta api komuter – angkutan masal
perkotaan utamanya kota-kota besar di Indonesia
seperti Monorail Untuk mendukung Pengembangan
Usaha EPC diperlukan studi-studi dan support
pendanaan.
III. PENGEMBANGAN RETAIL DAN
SERVICES
Dengan berorientasi fokus pada pelanggan, PT INKA
(Persero) mengembangkan usaha jasa Operation and
Maintenance Base seperti:
1. Program perawatan kereta api komuter –
perawatan KRDI/KRDE/
Railbus/EPC/otomotif berupa jasa
perawatan, trading spare part, dimana
product knowledge telah dikuasai.
2. Jasa penyediaan spare part sebagai OEM
untuk produk otomotif yang digunakan.
3. Maintenance Service Agreement (MSA)
untuk sarana kereta api berbasis angkutan
massal terutama untuk produk yang telah
di delivery oleh PT INKA (Persero)
untuk menjamin operasional produk-
produk tersebut.
Untuk mendukung usaha retail dan service diperlukan
keagenan dan kerjasama operasi dengan penyedia sumber
daya.
IV. KERJASAMA DAN JOINT VENTURE
(Persero) has started:
• Working on urban transportation products such as:
ATC buses, single buses, railbus, and tram.
• Developing low floor electric buses for airport
passenger transportation.
• Developing plantation and mining logistic
transportation products such as: LLO (Automatic
Electric Lori), and cable ways.
To support the above developments, a procurement strategy
is needed in order to meet the project targets.
II. RAILWAY EPC BUSINESS DEVELOPMENT
In an effort to reduce dependence on the existing market
(Ministry of Transportation and PT KAI) and to generate the
role of the Private sector and Local Government and to
increase corporate profit growth, PT INKA (Persero) has
carried out project-based business development including:
1. Plantation transportation (Agro), in the form of a
transportation system from planted land to
processing facilities to distribution locations (ports)
such as oil palm plantation transportation systems
(transportation of oil palm fruit and CPO).
2. Mining material transportation, in the form of a
transportation system ranging from mining land to
distribution ports as well as other transportation
systems (transporter).
3. Logistics and special container-based goods
transportation - container transportation from the
dry port to distribution points (speed cargo).
4. Commuter rail transportation - urban mass
transportation, especially major cities in Indonesia
such as Monorail. To support EPC Business
Development, studies and funding support are
needed.
III. RETAIL AND SERVICES DEVELOPMENT
With a customer-oriented focus, PT INKA (Persero) develops
Operation and Maintenance Base service businesses such as:
1. Commuter train maintenance program -
KRDI/KRDE/Railbus/EPC/automotive
maintenance in the form of maintenance services,
spare part trading, where product knowledge has
been mastered.
2. Spare part supply services as OEM for used
automotive products.
3. Maintenance Service Agreement (MSA) for train
facilities based on mass transportation, especially
for products that have been delivered by PT INKA
(Persero) to guarantee the operation of these
products.
To support retail and service businesses, agencies and joint
operations with resource providers are required.
IV. COOPERATION AND JOINT VENTURE
Dalam usaha mencapai program perusahaan perlu diciptakan
infrastruktur atau perangkat operasional berupa kerjasama
antar perusahaan dan pembentukan anak perusahaan/joint
venture, yaitu:
1. Kerjasama Perusahaan
Perseroan dalam proses pengadaan dan penjualan sarana
kereta api melakukan kerjasama baik dalam negeri maupun
kerjasama luar negeri. Kerjasama dalam negeri dilakukan
dengan BUMN lain dan kerjasama luar negeri dilakukan
dengan perusahaan kereta api dan teknologi melalui pola
kerjasama pengadaan bahan baku, komponen dan kerjasama
bisnis lainnya.
Kerjasama yang dilakukan PT INKA (Persero) pada kurun
waktu tahun 2020, antara lain:
2. Pendirian Anak Perusahaan/Joint Venture
Pendirian anak perusahaan/joint venture merupakan salah
satu bentuk kerjasama yang dilakukan perusahaan dalam
rangka peningkatan penjualan sarana
perkeretaapian. Bentuk kerjasama ini, antara lain:
 Pendirian perusahaan patungan/Joint
Venture untuk mewujudkan program
angkutan bandara termasuk paket
program perawatannya, bekerjasama
dengan BUMN-BUMN yang terlibat.
 Pendirian anak perusahaan untuk
mewujudkan piramida industri yang
mendukung PT INKA (Persero), sehingga
perusahaan lebih fokus pada kompetensi
inti.
 Rencana pembentukan Joint Venture
dengan perusahaan nasional terkemuka,
maupun BUMN ataupun dengan anak
perusahaan untuk mengerjakan produk
otomotif, retail & services dan bergerak
dalam bidang operator.
V. BISNIS OPERATOR
Dalam rangka menciptakan bisnis dengan pendapatan yang
repetitif maka Perseroan mulai melakukan pengkajian
terhadap bisnis operator terutama untuk area yang belum
tersentuh oleh operator eksisting seperti:
a. Operator kereta api perintis
b. Operator transportasi logistik, perkebunan dan
pertambangan.
FASILITAS DAN KAPASITAS PRODUKSI
Kondisi metode produksi saat ini masih menggunakan
metode padat karya, dimana tenaga manusia masih
mendominasi hampir di seluruh proses produksi. Beberapa
mesin produksi telah menggunakan teknologi semi automatic
seperti mesin Computer Numeric Control (CNC),
spotwelding, laser cutting, drilling dan sebagainya.
Dalam beberapa tahun yang akan datang, diharapkan
beberapa mesin produksi telah menggunakan automatic
In order to achieve the company’s program, creating
infrastructure or operational tools in the form of cooperation
between companies and the formation of subsidiaries/joint
ventures is necessary, namely:
1. Corporate Cooperation
The Company in the process of procuring and selling railroad
facilities carries out cooperation both domestically and
internationally. Domestic cooperation is carried out with
other SOEs and foreign cooperation is carried out with
railway and technology companies through a cooperative
pattern of procurement of raw materials, components and
other business cooperation.
Collaborations established by PT INKA (Persero) during
2020 include:
2. The Establishment of a Subsidiary/Joint Venture
The establishment of a subsidiary/ joint venture is one of the
company’s efforts to increase sales of railway facilities. The
forms of this cooperation include:
 Establishment of a joint venture company to realize
the airport transportation program including its
maintenance program package, in collaboration
with the SOEs involved.
 Establishment of a subsidiary to create an industrial
pyramid that supports PT INKA (Persero), so that
the company focuses more on core competencies.
 Plans to form a Joint Venture with leading national
companies, as well as SOEs or with subsidiaries to
work on automotive products, retail & services and
operate in the field of operators.
V. OPERATOR BUSINESS
In order to create a business with repetitive income, the
Company began to conduct an assessment of the operator
business, especially for areas that have not been touched by
existing operators, such as:
a. Pioneer rail operator
b. Logistics, plantation and mining transportation
operator.
PRODUCTION FACILITIES AND CAPACITY
The current condition of production methods still uses a
labor-intensive method, where human labor still dominates
almost all production processes. Several production machines
have used semi-automatic technology such as Computer
Numeric Control (CNC) machines, spot-welding, laser
cutting, drilling and many others.
In the next few years, some production machines are hoped
to use an automatic system or a robotic system so that it can
increase the capacity and quality of the products produced.
system atau robotic system sehingga dapat meningkatkan
kapasitas dan kualitas produk yang dihasilkan. Rasio utilisasi
kapasitas produksi PT INKA (Persero) saat ini sudah
mencapai 100%, karena dari segi kapasitas desain dan output
aktualnya sudah digunakan secara maksimal. Perusahaan
telah menerapkan strategi supply chain dengan pengadaan
sub assembly untuk mempercepat pekerjaan proses produksi.
Diharapkan pembangunan pabrik baru di Banyuwangi dapat
diselesaikan tepat waktu, sehingga dapat meningkatkan
kapasitas produksi. Diproyeksikan bahwa dengan adanya
pabrik yang baru, kapasitas produk Perusahaan bisa
meningkat dengan signifikan seperti yang terlihat di tabel
berikut:
Jenis Kereta / Train Type Workshop Madiun / Madiun Workshop
Kereta Penumpang / Passenger Train 400 unit / 400 units
Kereta Lainnya (setara kereta 100 unit / 100 units
penumpang) / Other Train (equal to
passenger train)
Transportasi darat terutama angkutan kereta api memiliki
peran yang sangat penting dalam mendukung dunia usaha,
pertumbuhan industri dan perdagangan serta merupakan
segmen usaha yang dapat memberikan kontribusi bagi
pembangunan ekonomi nasional.
Tinjauan dan pembahasan manajemen terkait dengan kinerja
operasional perusahaan dibuat berdasarkan data dan
informasi perkembangan pengelolaan bisnis yang dilakukan
oleh PT INKA (Persero) sepanjang tahun 2020 dan tahun-
tahun sebelumnya.
Informasi Pesanan Masuk
Perseroan mencatatkan pesanan masuk tahun 2020 sebesar
Rp382.175 juta mengalami penurunan dari tahun sebelumnya
yang tercatat sebesar Rp388.420 juta atau turun sebesar
4,79%. Penurunan pesanan masuk disebabkan oleh calon
pelanggan yang melakukan penundaan rencana investasi
(pengadaan sarana) yang berdampak pada penurunan
pendapatan perusahaan yang hanya mengerjakan proyek
carry over dari tahun sebelumnya.
Dalam proses pesanan masuk, permasalahan yang dihadapi
Perseroan adalah:
1. Perolehan kontrak proyek tidak dapat diestimasi
dengan tepat sehingga proyeksi target-target proyek
pesanan masuk pada tahun anggaran dapat bergeser
ke tahun anggaran berikutnya, sehingga
berpengaruh pada realisasi penjualan di tahun
anggaran.
2. Pencapaian kontrak proyek sangat tergantung pada
rencana investasi/pengadaan oleh customer, untuk
itu Perseroan terus melakukan penjajakan dan
pendekatan secara intensif kepada customer agar
PT INKA (Persero) ‘s production capacity utilization ratio
has now reached 100% because in terms of design capacity
and actual output, it has been maximally used. The Company
has implemented a supply chain strategy by procuring sub-
assemblies to speed up the production process. It is hoped
that the construction of a new factory in Banyuwangi can be
completed on time, increasing production capacity. With the
new factory, it is projected that the Company’s product
capacity can increase significantly as shown in the following
table:
Workshop Banyuwangi / Banyuwangi
Workshop
400 unit / 400 units
200 unit / 200 units
Land transportation, especially rail transportation, possesses
an important role in supporting the business world, industrial
and trade growth and is a business segment that can
contribute to national economic development.
Management review and discussion related to the company’s
operational performance are made based on data and
information on business management developments carried
out by PT INKA (Persero) throughout 2020 and preceding
years.
Incoming Order Information
The Company recorded incoming orders in 2020 amounting
to IDR 382,175 million, a decrease from the previous year
which was recorded at IDR 388,420 million or a decrease of
4.79%. The decrease in incoming orders was caused by
prospective customers who postponed their investment plan
(procurement of facilities) which resulted in a decrease in
revenue of the company that only worked on carry-over
projects from the previous year.
In the process of incoming orders, problems faced by the
Company include:
1. Acquisition of project contracts cannot be
estimated accurately so that the projected targets
for incoming order projects in the fiscal year may
shift to the next fiscal year, affecting sales
realization in the fiscal year.
2. Achievement of project contracts is highly
dependent on the investment/procurement plan by
customer, for this reason the Company continues to
conduct intensive exploration and approach to
customers in order to achieve contracts in
 tercapai kontrak sesuai dengan target pesanan accordance with incoming order targets.
masuk.

Pesanan Masuk / Incoming Order 2016 2017 2018 2019 2020

Proyek Kementerian Perhubungan / 997.739 1.383.292 488.294 172.204 237

Ministry of Transportation Project

Proyek PT KAI (Persero) / PT KAI 0 2.291.371 3.959.506 206.400 -

(Persero) Project

Proyek Swasta dan Ekspor / Private 0 24.116 410.577 8.940 -

Sector and Export Project

Service dan Retail / Service and 46.642 78.002 13.673 848 -

Retail

Proyek Pengembangan Bisnis / 0 0 0 28 -

Business Development Project

Lain-Lain / Others 0 0 0 0 381.938

Jumlah Pesanan Masuk / Total 1.044.381 3.776.781 4.872.050 388.420 382.175

Incoming Orders

Realisasi pesanan masuk sarana kereta api setiap tahun
berfluktuasi, yang ditunjukkan oleh pesanan yang masuk
tahun 2016 dengan nilai proyek sebesar Rp1.044.381 juta
dan pada tahun 2020 jumlah pesanan masuk dengan nilai
proyek Rp382.175 juta, sehingga dalam kurun waktu 5 (lima)
tahun terdapat pertumbuhan rata- rata sebesar 39,40%. Dalam
periode tersebut pertumbuhan pesanan masuk tertinggi
terdapat di tahun 2017 yakni mencapai 261,63% dan
pertumbuhan yang terendah terdapat di tahun 2018 mencapai
negatif 92,03% sebagaimana digambarkan dalam diagram
dibawah ini:
The realization of incoming orders for railway facilities
fluctuates every year, as shown by the orders that entered in
2016 with a project value of IDR 1,044,381 million and in
2020 the number of incoming orders with a project value of
IDR 382,175 million, so that within 5 (five) years there is an
average growth of 39.40%. In that period, the highest growth
of incoming orders was in 2017, reaching 261.63% and the
lowest growth was in 2018 which reached negative 92.03%
as illustrated in the diagram below:

Informasi Kinerja Penjualan Sales Performance Information

Nilai realisasi hasil penjualan tahun 2020 sebesar
Rp2.319.481 juta, tumbuh lebih tinggi terhadap realisasi nilai
hasil penjualan tahun sebelumnya sebesar Rp3.401.342 juta
atau menurun 31,81%. Hasil penjualan di tahun 2020 banyak
dihasilkan dari proyek carry over tahun 2019, yaitu Proyek
PT Kereta Api Indonesia (Persero) sebesar Rp1.213.397 juta
atau 52,31% serta Proyek Ekspor dan Swasta sebesar
Rp967.333 juta atau 41,70% dan sisanya dihasilkan dari
proyek lainnya.
The realization value of sales in 2020 was IDR 2,319,481
million, a higher growth compared to the realization of the
value of sales in the previous year of IDR 3,401,342 million
or a decrease of 31.81%. Most of the sales in 2020 resulted
from carry over projects in 2019, namely the PT Kereta Api
Indonesia (Persero) Project amounting to IDR 1,213,397
million or 52.31% and Export and Private Projects amounting
to IDR 967,333 million or 41.70% and from other projects.

Hasil Penjualan / Sales Result 2016 2017 2018 2019 2020

Proyek Kementerian Perhubungan / 60.039 105.386 5.762 79.320 0

Ministry of Transportation Project
Proyek PT KAI (Persero) / PT KAI 869.856 2.110.356 2.377.057 2.132.354 8.100
(Persero) Project
Proyek Swasta dan Ekspor / Private 796.724 264.400 682.760 930.534 967.333
Sector and Export Project
Service dan Retail / Service and 87.718 100.024 43.852 7.129 237
Retail
Proyek Pengembangan Bisnis / 0 0 0 0 0
Business Development Project
Lain-Lain / Others 66.671 0 146.459 252.006 130.414

Jumlah Penjualan / Total Sales 1.881.008 2.580.166 3.255.889 3.401.342 2.319.481

Realisasi hasil penjualan dalam lima tahun terakhir terus
meningkat, yang ditunjukkan oleh penjualan tahun 2016
dengan nilai proyek sebesar Rp1.881.008 juta dan pada tahun
2020 jumlah penjualan dengan nilai proyek Rp2.319.481 juta,
sehingga dalam kurun waktu 5 (lima) tahun terdapat
pertumbuhan rata-rata sebesar 17,45%. Dalam periode
tersebut pertumbuhan penjualan tertinggi terdapat di tahun
2016 yakni mencapai 51,23% dan pertumbuhan yang
terendah terdapat di tahun 2020 mencapai negatif 31,81%
sebagaimana digambarkan dalam diagram dibawah ini:
Realization of sales results in the last five years continued to
increase, as shown by sales in 2016 with a project value of
IDR 1,881,008 million and in 2020 the number of sales with
a project value of IDR 2,319,481 million, so that within a
period of 5 (five) years there is an average growth an average
of 17.45%. In that period, the highest sales growth was in
2016 which reached 51.23% and the lowest growth was in
2020 which reached negative 31.81% as illustrated in the
diagram below:

RASIO PENJUALAN TERHADAP PESANAN MASUK SALES TO INCOMING ORDERS RATIO

1.243.838

Dari tabel dibawah ini diketahui realisasi penjualan tahun
2020 sebesar Rp2.319.481 juta melebihi nilai pesanan masuk
dalam tahun yang sama sebesar Rp382.175 juta atau
mencapai 606,92%. Hal yang sama juga terdapat di tahun
2019 dimana nilai penjualan melebihi nilai pesanan masuk
sebesar 875,69%. Kondisi ini disebabkan oleh perolehan
kontrak proyek tidak dapat diestimasi dengan tepat sehingga
proyeksi target-target proyek pesanan masuk pada tahun
anggaran dapat bergeser ke tahun anggaran berikutnya,
sehingga berpengaruh pada realisasi penjualan di tahun
anggaran.
From the table below, the realization of sales in 2020
amounted to IDR 2,319,481 million, exceeding the value of
incoming orders in the same year of IDR 382,175 million or
reaching 606.92%. This also occurred in 2019 where the
sales value exceeded the value of incoming orders by
875.69%. This condition was due to the fact that the project
contract acquisition cannot be estimated accurately so that the
projected targets for incoming order projects in the fiscal year
can shift to the next fiscal year, affecting the sales realization
in the fiscal year.

2016 2017 2018 2019 2020 Rata-rata

pertumbuhan
/ Average
Growth Rate

Jumlah Pesanan Masuk / 1.044.381 3.776.781 4.872.050 388.420 382.175 49,25

Total Incoming Orders
Jumlah Hasil Penjualan / 1.881.008 2.580.166 3.255.889 3.401.342 2.319.481 9,00
Total Sales Results
Rasio Penjualan/Pesanan / 180,11 92,92 66,83 875,69 606,92 275,79
Sales/Order Ratio
Rasio Pesanan Terhadap Penjualan / Incoming Orders to Sales Ratio
Pesanan / Order
Penjualan / Sale