Investindo Partners Will Distribute IDR 5.31 Billion Dividend

PT Mitra Investindo Tbk (MITI) held an Annual General Meeting of Shareholders (AGMS) today, Thursday, May 24, one of whose decisions was to determine the use of net profit as dividends of IDR 5.31 billion.

The distribution of the final cash dividend is equivalent to Rp1.50 per share. For information, in 2022 MITI posted a net income of Rp121.89 billion, an increase of 496 percent from the position of Rp20.47 billion compared to revenue in 2021.

EBITDA also increased by 196.31 percent in line with the increase in revenue in 2022, from IDR 21.94 billion to IDR 7.40 billion. Meanwhile, MITI's net profit rose to IDR 5.35 billion from IDR 5.22 billion the previous year.

MITI management said it had completed a share sale and purchase agreement on the acquisition of 99 percent of PT Pelayaran Karana Line (PKL) shares owned by PT Pelayaran Samudra Karana Line (PSKL).

Then the purchase of 70 percent of PT KAL's shares engaged in loading and unloading logistics to integrate shipping and logistics activities into the Company as the parent company of a subsidiary. MITI management stated that it has 3 business segments in line with the road map for the integration of shipping business and total logistics and business expansion that has been planned after business transformation.

Meanwhile, PT Mitra Investindo Tbk. (MITI) recorded consolidated revenues of IDR 84.246 billion with a net profit of IDR 14.31 billion in the first quarter of 2023. Investindo Finance Director Ignatius Edy Suhardaya said the achievement was equivalent to the realization of 69.12 percent of the company's revenue and 93.26 percent of the company's net profit in 2022.

According to him, the loading and unloading cargo handling business segment contributed IDR 54.421 billion or 64 percent of the total revenue. Followed by revenue from the shipping service business segment of IDR 16.041 billion or 19.04 percent of the total consolidated revenue in the first quarter of 2023.

Ignatius said the first three months of score would be a reference for performance during 2023.

"This score will be the basis for achieving performance in 2023 which is expected to experience a 4-fold increase in revenue and profit," he said.

He is optimistic that this target can be realized if it is projected for a full year for 2023 by paying attention to Indonesia's economic growth projection in 2023 of 5.3 percent (yoy).

In addition, the projected increase in export value in 2023 was 12.8 percent and the import value was 14.9 percent, although slower than in 2022 which reached export growth of 29.4 percent and imports of 25.37 percent.