Iconomics – PT Jasa Armada Indonesia Tbk (IPCM) will continue to expand its business in 2024, both organic and inorganic.

“For the inorganic ones, it will be related to the business purification plan launched by the Pelindo Group. “But we’re sorry we can’t convey that at this time,” said IPCM Main Director, Shanti Puruhita at the 2023 Public Expose Live event, Thursday (30/11).

PT Jasa Armada Indonesia Tbk is a subsidiary of the Pelindo Group. This company, which was previously a subsidiary of Pelindo II, is part of the PT Pelindo Jasa Maritim subholding.

Meanwhile, for organic expansion, Shanti said IPCM will continue to optimize the potential of the pilotage and tugboat services business.

“There is a lot of great potential in Indonesian waters for optimizing pilotage and towing services for both Tersus [Special Terminals] and TUKS [terminals for private use] and that is still around 1,000 more. “That is a clear potential that is still before our eyes,” said Shanti.

In 2024, IPCM has budgeted capital expenditure of around IDR 150 billion, up from this year’s capital expenditure of IDR 124.5 billion. This 2024 capital expenditure will, among other things, be used for the construction of new ships. Currently, IPCM has 61 tugboats, 29 guided motorboats and 5 kepil boats.

Until September 2023, IPCM posted revenue of IDR 858.11 billion, up 27.88%, from IDR 671.05 billion in the same period last year. Meanwhile, IPCM’s net profit in the 9 months of 2023 was IDR 119.78 billion, up 17.81% from IDR 101.67 billion in the same period last year.

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

Seeing the rapid financial performance in 2023, Shanti said that the Company will definitely distribute dividends to shareholders again in the 2023 financial year.

“Seeing that our fundamental performance is in line with the performance targets we have planned until 2023, we are indeed planning to distribute dividends as we did in previous years,” he said.

However, Shanti has not disclosed the estimated value of the dividends that will be distributed. “Because we haven’t gotten approval from shareholders. “However, we can say that there will definitely be dividend distribution,” he said.

As an illustration, with a net profit of IDR 151 billion, in the 2022 financial year IPCM distributed dividends of IDR 21.42 per share, with a dividend yield of 7.56%.