Investindo Partners Raise Revenue Of IDR 306.99 Billion In 2023

Photo: Doc. Investindo Partner

JAKARTA - The shipping company, PT Mitra Investindo Tbk (MITI) posted a positive performance in 2023. MITI posted revenue of IDR 306.99 billion, up 152 percent compared to 2022 which amounted to IDR 121.89 billion.

Along with the increase in revenue, the MITI EBITDA increased 282.63 percent in 2023, from IDR 16.82 billion to IDR 64.37 billion. The company's net profit also jumped 212 percent to IDR 47.89 billion from IDR 15.35 billion in the previous year.

MITI Corporate Secretary, Sugeng Wahono said, this increase in net profit had a positive impact on earnings per share (EPS) or the company's profit per share from Rp5.46 in 2022 to Rp10.88 in 2023 or an increase of 99.27 percent.

"Because nationally the transportation and warehousing industry sector throughout 2023 experienced a growth of 13.96 percent, higher than Indonesia's economic growth throughout 2023 which was 5.05 percent," he said in a written statement, quoted Wednesday, March 27.

Based on the financial statements issued by the Company, as of December 31, 2023, the company's total assets also experienced a slight increase of 4.18 percent to Rp494.89 billion in the year compared to 2022 of Rp475.03 billion.

Meanwhile, in terms of liabilities, the company's total liabilities in 2023 decreased by 27.08 percent or to Rp59.09 billion compared to 2022, which was Rp81.03 billion.

"The increase in assets and equity in 2023 cannot be separated from the company's performance throughout 2023 which continued the positive trend in 2022, while the decrease in the obligation side was inseparable from the standardization of collection documents from suppliers so that the verification of documents and payments made by the company became faster," explained Sugeng.

Previously, in order to diversify its business and sustainable growth in the future, on July 7, 2023, MITI together with Sany South Asia Ltd (SANY) and Gold Fortuna Ltd (EFL) signed a Memorandum of Understanding (MoU) to jointly explore opportunities for an environmentally friendly New Energy Business.

Through this Memorandum of Understanding, MITI, SANY and EFL, will explore the potential of the New Renewable Energy Business Solar Power Plant (PLTS) or Solar Farm.

Sugeng explained, in 2024 the company will continue to look for new opportunities to boost growth both organically and inorganically. To increase growth organically, MITI will conduct a capital expenditure of IDR 30 billion for the procurement of ships, while to increase growth in anorganically the Company will look for strategic partners in finding opportunities in the market.

"From the existing opportunities, it is hoped that the company's performance in 2024 can continue the positive trend owned by the company since 2021. With the positive performance recorded by the company since 2021, the company can distribute cash dividends to shareholders amounting to IDR 1 per share in 2022 for the 2021 financial year and IDR 1.5 per share in 2023 for the 2022 financial year," he concluded.