KONTAN.CO.ID – JAKARTA. PT Jasa Armada Indonesia Tbk (IPCM) is optimistic about achieving its revenue and net profit targets by the end of 2023.

This is because the Company recorded a net profit obtained until September 2023 (9M23) of IDR 119.78 billion, an increase of 17.81% year on year (YoY). Then, there was an increase in revenue of 27.87% or the equivalent of IDR 858.1 billion from IDR 671.05 billion (YoY).

IPCM Main Director, Shanti Puruhita, explained that PT Jasa Armada Indonesia is optimistic that it will achieve its business targets for revenue and net profit by the end of the year. This is because the business model run by IPCM continues to grow and get better. Even though there is an increase in fuel oil (BBM) prices, IPCM remains optimistic that it will achieve its profit and revenue targets at the end of the year.

“We are optimistic that (the revenue and net profit targets) will be achieved, looking at our economic model which is getting better, even though there is an increase in fuel prices, with the things we are implementing effectively and efficiently and all the transformations we are carrying out, we are optimistic that it will achieved,” said Shanti at Public Expose Live 2023, Thursday (30/11).

The main contribution to IPCM’s revenue came from ship services amounting to IDR 756.28 billion or 88.13% of total revenue. Other income contributions were transportation and other services amounting to IDR 70.33 billion or 8.19% and ship management services amounting to IDR 31.50 billion or 3.67%.

Revenue from ship towing services consisting of general ports amounting to IDR 326.02 billion, Special Terminals (Tersus) amounting to IDR 227.47 billion and Terminals for Private Use (TUKS) amounting to IDR 163.72 billion.

The increase in Tersus income in this period experienced a higher increase when compared to TUKS income, with respective increases of 73.74% and 34.99% compared to the 2022 period.

In 2024, IPCM targets organic and inorganic expansion. Regarding the inorganic plan, Shanti explained that it would be related to the business purification plan launched by the Pelindo Group.

Meanwhile, for the organic plan, IPCM sees that there is a lot of potential that can be explored in Indonesian waters which can be optimized for pilotage and towing services both at Special Terminals (Tersus) and Terminals for Own Use (TUKS).

“For 2024, our expansion targets are organic and inorganic. For inorganic ones, it will be related to the business purification plan launched by the Pelindo Group. “In terms of inorganics, there is a lot of great potential in Indonesia’s territorial waters for optimizing pilotage and towing services both in Tersus and TUKS, and that is a clear potential that is before our eyes,” said Shanti.

The company also recorded a planned capital expenditure (capex) budget for 2024 of around IDR 150 billion. These funds are planned to be used for the construction of new ships.