Indonesian Fleet Services Raise Net Profit Of IDR 157.6 Billion In 2023

Rupiah illustration (Photo: dock. Antara)

JAKARTA - PT Jasa Armada Indonesia Tbk (IPCM) posted a net profit of IDR 157.6 billion in 2023, or an increase of 4.6 percent year on year (yoy) compared to IDR 150.6 billion in the previous year.

PT Pelindo's subsidiary's net profit was supported by revenue which increased 16.1 percent (yoy) from the previous Rp980 billion in 2022 to Rp1.1 trillion in 2023.

IPCM President Director Shanti Puruhita explained that the main contributor to revenue is the public port services segment of IDR 525 billion or 46.1 percent of total revenue, followed by Terminal for Personal Interest (TUKS) services of IDR 191 billion or 16.8 percent.

Then, the Special Terminal (Tersus) service amounted to Rp343 billion or contributed 30.1 percent, followed by ship management services and other marine services, each of which contributed Rp31.5 billion and Rp46 billion.

"We are grateful to be able to maintain our positive performance with the increase in IPCM's revenue in 2023 which managed to penetrate one trillion yesterday, this good performance is of course also supported by a widening market share and an improving economy in 2023", said Shanti quoting Antara.

He explained that the company's commitment to provide the best service in terms of safety and fleet readiness is reflected in the implementation of maintenance and increasing ship docking in 2023.

"This makes the cost of revenue increase by 17.8 percent from IDR 678 billion in 2022 to IDR 799 billion in 2023," said Shanti.

In addition to the contribution of fuel costs which also increased but was in line with the revenue achievement figure, so that it could still maintain the proportion of operating profit which increased 5.6 percent from IDR 174 billion in 2022 to IDR 184 billion in 2023.

"The IPCM also recorded an increase in total assets by 2.3 percent from IDR 1.49 trillion in 2022 to IDR 1.52 trillion at the end of 2023," said Shanti.

In 2023, Shanti explained, the company succeeded in launching three new guided ships and one new tugboat, as well as signing several business cooperation agreements for services in the BUP IPCM area, namely with PT Cemindo Gemilang Tbk., PT Nusantara Regas, PT Jawa Satu Power, PT Cirebon Electric Power, PT Cirebon Energi Prasarana, and signing strategic partner collaborations

"In 2024, IPCM's business strategy will be continued by adjusting the strategy and master plan of the company engaged in maritime services by continuing to expand its business both organic and inorganic", said Shanti.