International Maritime Humpuss Profit Increases 33.7 Percent In The Third Quarter Of 2023

Rupiah illustration (Photo: dock. Antara)

JAKARTA - PT Humpuss Maritime International Tbk (HUMI) posted a net profit of 11.6 million US dollars in the third quarter of 2023.

The achievement of net profit of issuers engaged in the integrated energy and maritime transportation segment grew by 33.7 percent compared to the same period the previous year (year on year/yoy) of 8.7 million US dollars. "During 2023, the company was able to optimize the ship's operating contract with customers, thereby increasing the company's revenue which in turn boosted the company's performance growth," said Director of Humpuss Maritime International Tirta Hidayat quoting Antara.

In terms of balance, the company's total assets as of September 30, 2023 were recorded at USD 254.6 million, an increase compared to the position at the end of 2022 of USD 241.2 million. Tirta said the company's total liabilities increased from USD 76.2 million to USD 90.5 million as of September 30, 2023. In addition, the company's total equity also increased from USD 137.9 million to USD 164 million as of September 30, 2023.

"We are optimistic about the company's performance until the end of 2023, especially with the addition of new ships, which are expected to be able to boost the performance of HUMI's subsidiaries in line with the growth of the shipping industry," said Tirta.

The company is currently expanding its business, where from the proceeds from the IPO, the company allocated around Rp170 billion for business expansion, namely the purchase of a ship unit for a subsidiary of PT PCS Internasional, PT Humpuss Transport Curah, and PT OTS Internasional, and the remaining approximately Rp80 billion to fund working capital. "The company itself targets business revenue growth of 83 percent and net profit of 21 percent for the next one or two years, which is driven by our business expansion plan," he said.