Maritime Humpuss Ready To Accelerate Business Growth

Illustration. (Photo: Doc. Antara)

PT Humpuss Maritime International Tbk (HUMI) is ready to accelerate the company's business growth after the financial ratio in which the initial public offering is still very strong.

HUMI President Director Tirta Hidayat said that based on the release of the HUMI IPO prospectus, the company's debt to equity ratio (Debt to equity ratio/DER) for the company as of December 31, 2022 was still 0.55x.

Meanwhile, the maximum required DER reaches 2.5x of the company's equity. This means that the risk of HUMI's business is very small because the debt-to-equity ratio is very controlled.

"The company's healthy financial ratio implies a strong proportion to finance business expansion in the future while increasing financial performance in the following periods," he said in a written statement in Jakarta, quoted from Antara, Friday, July 21.

Tirta Hidayat added that the ratio illustrates the potential expansion of the business of distribution and energy infrastructure companies in the port and maritime ecosystems is still very wide open to seek funding for other third parties in the context of business expansion in the next few years.

According to the company's financial statements as of the first quarter of 2023, this equity is known to increase by 3.61 percent when compared to the end of 2022 of 137.93 million US dollars or around Rp. 2.07 trillion assuming an exchange rate of Rp. 15,000 per US dollar.

The accumulation of HUMI equity continued to increase in the first quarter of 2023 to US$143 million or equivalent to Rp2.14 trillion.

On the other hand, the total liabilities of HUMI are worth US$76.22 million and US$70.13 million for the period 31 December 2022 and 31 March 2023, respectively. This figure is equivalent to Rp1.14 trillion and Rp1.05 trillion.

Referring to the financial statements per quarter of 2023, the Company's ability to fulfill its obligations in the short term looks good at 1,41x.

Referring to the financial statements per quarter I 2023, the company's debt-to-equity equity ratio (DER) ratio per March 31, 2023, is 0.49x, which illustrates that the company's ability to settle debt is getting better.

"With this capability, we are optimistic that the potential for the HUMI business will continue, especially with the current post-pandemic industrial conditions that encourage all parties to expand, including in the port and maritime segments," he said.

The company's business expansion potential, according to Tirta Hidayat, is in line with the continuing performance of which growth In the first quarter of 2023, the company posted operating revenue growth of 9.13 percent year-on-year (yoy) to 23.26 million dollars from 21.31 million US dollars in the same period last year.

Meanwhile, profit for the current year jumped by around 46.10 percent yoy from 3.53 million US dollars at the end of March 2022 to 5.15 million US dollars in the first three months of this year, following an adjustment to the profit of entities joining the company.