Ipotnews – PT Jasa Armada Indonesia Tbk (IPCM) has allocated capital expenditure (capex) of IDR 150 billion in 2024.

IPCM Main Director Shanti Puruhita said that next year’s capex allocation will be used to procure new ships. “We will also expand our inorganic and organic business in 2024,” said Shanti in a virtual BEI public expo in Jakarta, Thursday (30/11).

Shanti explained that next year’s inorganic business expansion is still related to the Pelindo Group business plan, which is always the parent company. Unfortunately this plan cannot be opened to the public at this time, according to Shanti.

Shanti explained that currently the IPCM operational area has controlled 100% of the market share of the public port belonging to Pelindo Regional II, which was previously known as PT Pelindo II. Following the merger of PT Pelindo I, PT Pelindo II, PT Pelindo III and PT Pelindo IV, there is still wide room for expansion of operational areas.

“Our business expansion next year will not be disrupted by the political year. Considering that our business is a logistics service related to port operations, election events will not have much influence. “Considering that our business concerns public services which must always be operational under any conditions,” said Shanti.

As of the third quarter, IPCM has recorded the acquisition of new transportation service contracts amounting to IDR 40 billion. In the January – September 2023 financial report, IPCM was able to record better performance than the same period in the previous year with an increase in revenue of 27.87% to IDR 858.11 billion from IDR 671.05 billion (YoY). IPCM also recorded a profit of IDR 119.78 billion, up 17.81% from IDR 101.67 billion (YoY).

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 Own 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.

The cost of revenue increased by 32.95% from IDR 480.68 billion to IDR 639.09 billion, most of which was contributed by the increase in fuel prices. Nevertheless, by implementing the company’s strategic plan, the Company managed to record an increase in operating profit of 20.47% to IDR 144.95 billion from IDR 120.33 billion in the previous year.

IPCM was also able to record an increase in total assets of 3.91% from IDR 1.49 trillion in 9M-2022 to IDR 1.55 trillion in 9M-2023.