Will Have A Profit Of 5.48 Million US Dollars This Year, GTS International Transport Company Pede Plants Its Business In 2023

Photo: Doc. GTS International

JAKARTA - PT GTS Internasional Tbk (GTSI) is optimistic that its business will grow in 2023. Especially when it refers to the estimated financial performance this year.

GTS International President Director Tammy Meidharma estimates that the company could close in 2022 with revenue of around US$41.65 million and a net profit of US$5.48 million. "This is not impossible, because the company's performance until 9 months ago has succeeded very positively," Tammy said in a public expose, Thursday, December 22.

The estimated financial performance of the ship rental service company for LNG transportation and distribution is in line with the success of seizing opportunities from the sea transportation business. Tammy said the company had achieved a profit for the current year of US$4.56 million until the September 2022 period.

"This profit was supported by revenue that jumped 69.3 percent to 31.1 million US dollars from the previous 18.37 million US dollars," Tammy added.

On the same occasion, GTSI Director Dudun Widodo said, the company will rely on transporting natural gas for the use of power plants, using housing/commercial heating, and industrial use (production of chemicals, fertilizers, hydrogen, and others)

The purpose of the transportation includes Ladang Gas, Disbursement Factory, FSLNG, LNGCarrier/Break bulking, Lingkaing LNG, FSRU, Final User and Floating Power Plant.

GTS International optimism is also in line with the merger between its parent company, namely PT Humpuss Maritime Internasional (HUMI), and PT Hateka Trans Internasional (HTI). Following the merger, the main shareholders of GTS International (GTSI) switched to HUMI. Thus, the formation of GTS International shareholders to PT HUMI 84.79 percent, the Samudera Bhakti Employee Cooperative 0.03 percent, and the community 15.18 percent.

Tammy said, under the main shareholder, namely International Maritime Humpuss, the company became stronger both financially and operationally.

In terms of Group performance, GTSI's parent company, PT Humpuss Intermoda Transport Tbk (HITS) has prepared a very large working capital or capex worth 94 million US dollars equivalent to Rp1.46 trillion for 2023.