Jakarta, March 29, 2023. PT Jasa Armada Indonesia Tbk (IDX: IPCM) announced its audited financial statements for the financial year ending December 31, 2022. Continuing its previous good performance, IPCM recorded a net profit of IDR 150.6 billion, increasing 10% from the last year Rp. 136.6 billion.

The revenue in 2022 rose 19.5% from IDR 820 billion to IDR 980 billion with the main contributor from public port services amounting to IDR 504 billion or 51.4% of total revenue, at the end of 2021 gain 19% from IDR 424 billion. Other revenue contributors are Terminal Services for Own Interest (TUKS) of IDR 171 billion which contributes 17.5%, followed by ship management services and other marine services each worth IDR 54 billion and IDR 51 billion.

In addition to the advance in revenue, the cost of revenue also gains by 18% from IDR 572 billion to IDR 678 billion in the current year, mainly due to the hike cost of fuel. Operating profit was recorded as increasing by 9% from Rp 159 billion to Rp 174 billion. The company managed to record a comprehensive profit of IDR 150.6 billion in 2022, which is an increase of 10% from IDR 137 billion in the same period last year. IPCM recorded an increase of 7% in total assets from IDR 1.43 trillion in 2021 to IDR 1.49 trillion at the end of 2022.

The Main Director of IPCM, Shanti Puruhita said, “IPCM’s performance is also be supported by its market expansion and economic growth in 2022. IPCM’s strategy of rapid adaptation allows the company to take the opportunity to recover financial conditions in 2022.”

During 2022, IPCM successfully prepared for the upcoming three pilot ships and one new tugboat and has signed several cooperation agreements. One of them is the Service Cooperation Agreement in Weda Bay in collaboration with PT Langlang Laju Layang, which is the initial
expansion of the IPCM business in Eastern Indonesia.

“One of the milestones in 2022 is the completion of the construction of the Abimanyu V tugboat, all series of ship construction that were financed using IPO proceeds – Abimanyu I, II, III, IV, and V have been successfully completed,” Shanti added.

Furthermore, IPCM is listed in the BUMN 17 IDX–MES (Sharia Economic Community). The 17 constituent stocks of the BUMN 17 IDX–MES Index were selected based on the best transaction liquidity in the regular market, the largest market capitalization, and considering financial performance as well as the level of compliance. The IDX–MES BUMN 17 index can also become a new criterion referenced for investors looking to invest in sharia stocks.