Public listed company PT Jasa Armada Indonesia Tbk (JAI-IPCM) enjoyed a 10% profit increase last year (2022) thanks to its appropriate strategies during the economy recovery post Covid-19 outbreak.
This subsidiary of Pelindo Jasa Maritim Subholding (SPJM) booked net profit of Rp 150.6 billion, increasing 10% y-o-y, from Rp 136.6 billion reached in 2021.
Its revenue increased higher, by 19.5%, from Rp 820 billion to Rp 980 billion. Among its various services as income sources, the revenue from services of general ports contributed the highest, reaching 51.4% of the total. During the year (2022), revenue from services of general ports reached Rp 504 billion, up 19% from Rp 424 billion in 2021.
The revenue from other services for private terminals (TUKS) reached Rp 171 billion, increasing 17.5% year on year. The contribution of other income sources of vessel maintenance and other marine services reached Rp 54 billion and Rp 51 billion, respectively.
But, the JAI expenses during the year also increased, by more than 18%, which was mostly caused by marine fuel hike. JAI reported that total expenses during the year reached Rp 678 billion, from Rp 572 billion in 2021.
These revenue and expenses made JAI’s operating profit increased 9% for the year, from Rp 159 billion (2021) to Rp 174 billion (2022). Its total asset also increased, by 7%, from Rp1.43 trillion to Rp1.49 trillion (2022).
Commending those achievements, JAI President Director Shanti Puruhita said: “Our market expansion and the economic recovery during the year (2022) have helped the corporate to reach such performance. We have taken such an appropriate adaptation strategy during the year of economy recovery.”
Milestones
There were some key works that support the corporate performance during 2022, including expansion to new market and procurement of some new fleets. In 2022, JAI added three new pilot boats and one new tug boats to support its services. JAI also signed several cooperation agreements, including the Service Cooperation Agreement with PT Langlang Laju Layang to do pilotage and towage service in ‘Teluk Weda’. This remained an initial step of JAI to expand business to Eastern Indonesia.
“One of the milestones in 2022 is the completion of the construction of the Abimanyu V Tugboat. This means that all series of ship construction which were financed using IPO proceeds – Abimanyu I, II, III, IV and V – have been successfully completed,” Shanti revealed.
In addition, JAI is included in the BUMN 17 IDX-MES (Sharia Economic Community) list. 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 also considering financial performance, as well as the level of compliance the good one. The IDX-MES BUMN 17 index can also become a new benchmark for investors to invest in sharia stocks.
As a public company, JAI also commits to improve good corporate governance (GCG), including in opening corporate information. And, this has been proven as JAI has just obtained an international award from the League of American Communications Professionals (LACP) in the Vision Awards Annual Report Competition in 2022 for the FY2021 Annual Report.
