Revenue Increases By 32.77 Percent, First Silo Maritime Earns IDR 287.1 Billion Net Profit In 2022

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Silo Maritime Perdana Tbk (SHIP) recorded a net profit of 18.91 US dollars or equivalent to IDR 287.10 billion throughout 2022.

Quoting Antara, the net profit grew 25.89 percent year on year (yoy) from the previous 15.02 million US dollars in 2021.

The company's net profit was supported by revenues that reached 134.65 million US dollars in 2022, or an increase of 32.77 percent yoy from the previous 101.41 million US dollars in 2021.

Along with the increase in revenue, the company recorded a cost of revenue of 84.25 million US dollars, or an increase of 35.79 percent yoy from the previous 62.04 US dollars in 2021.

Meanwhile, the total operating expenses were recorded at 9.35 million US dollars, and the total other expenses amounted to 11.60 million US dollars.

Issuers in the shipping sector, especially the provision of offshore ships for the upstream oil and gas industry, recorded liabilities of 207.10 million US dollars, an increase of 18.61 percent yoy from the previous 174.60 US dollars in 2021.

Equity was recorded at 172.19 US dollars, or an increase of 14.14 percent yoy from the previous 150.85 million US dollars in 2021.

Thus, until the end of 2022, the company recorded total assets worth US$ 379.30 in 2022, or an increase of 16.54 percent from the previous US$ 325.46 in 2021.

Until September 2022, SHIP has added a fleet of ships as an effort to expand the company's business, through its subsidiary PT Golden Prima Maritim to buy a Liquefied Natural Gas (LNG) Tanker measuring 145 thousand cubic meters called Golden Isaia (ex Methane Shirley Elisabeth).

To date, the company has operated a fleet of ships with various functions and types, consisting of Floating Storage Offloading (FSO), oil tankers, gas tankers, and offshore support vehicles such as harbour tugs, supply vehicles, crew boats, utility vehicles, supply vessel platforms, and anchor handling tug supply.