IPCM Revenue Increases, This Pelindo Subsidiary Earns IDR 83.93 Billion Net Profit

JAKARTA - PT Jasa Armada Indonesia Tbk (IPCM) posted a profit of IDR 83.93 billion in the first semester of 2023. This achievement increased from the previous IDR 64.70 billion in the same period last year.

The net profit of this subsidiary of PT Pelabuhan Indonesia (Pelindo) was supported by revenues that reached Rp567.55 billion in the first semester of 2023, or an increase from the previous Rp428.19 billion in the same period last year, as stated in information disclosure on the Indonesia Stock Exchange (IDX), Jakarta, Monday.

Meanwhile, the majority of the company's revenues were contributed from the ship services business segment amounting to Rp441.10 billion, followed by the transportation service business segment and others amounting to Rp23.86 billion, then the ship management service business segment amounting to Rp27.00 billion.

Along with the increase in revenue, IPCM recorded a cost of revenue which increased to IDR 425.03 billion in the first semester of 2023, from the previous IDR 307.61 billion in the same period last year.

Then, general and administrative expenses were recorded at Rp42.50 billion, from the previous Rp41.08 billion, and other operating expenses were recorded at Rp1.80 billion, or decreased from the previous Rp3.65 billion.

Then, the company recorded a financial burden of Rp662.50 billion in the first semester of 2023, or a decrease from the previous Rp912.30 billion in the same period last year.

During the first semester of 2023, the company's total equity was recorded at IDR 1.18 trillion, while the total liabilities were recorded at IDR 461.50 billion.

Thus, the company's total assets were recorded at IDR 1.64 trillion in the first semester of 2023, or an increase from the previous IDR 1.48 trillion in the same period the previous year.

Previously, at the Annual General Meeting of Shareholders (AGMS), this subsidiary of State-Owned Enterprises (BUMN) distributed a final dividend of IDR 113 billion, or equivalent to 75.02 percent of the net profit for the 2022 financial year.

Meanwhile, this value includes interim dividends that the company distributed on December 23, 2022, amounting to Rp19.41 billion or Rp3.68 per share.