Public listed company PT Jasa Armada Indonesia Tbk (IPCM) reported a 19.25% rise in revenue for the first half of 2025, supported by robust growth in ship services at special terminals and expanded operations in eastern Indonesia.
This subsidiary of Pelindo Jasa Maritim with core business in pilotage and towage service, listed on the Indonesia Stock Exchange under ticker IPCM, booked revenue of IDR 714 billion in the six months to June, up from IDR 598.75 billion a year earlier.
The majority of the revenue, around 89.5%, was generated from towage services, which contributed IDR 639.27 billion, while pilotage added another IDR 51.18 billion, or 7.17% of the total.
Revenue from services at Special Terminals (Tersus) jumped 32.5% to IDR 258.4 billion, up from IDR 194.99 billion a year ago, driven by improved performance across both existing and newly activated ports in eastern Indonesia.
Revenue from public ports rose 12.9% to IDR 306.49 billion, while revenue from Special Terminal Units (TUKS) increased 12.3% year-on-year to IDR 125.56 billion.
The company’s financial position remained solid, with total assets increasing 5.3% to IDR 1.74 trillion from IDR 1.65 trillion at the end of 2024. Current assets grew 12.3% to IDR 1.05 trillion, reflecting higher operational activity in line with revenue growth.
“Our strategy of pursuing business outside the Pelindo Group has shown tangible results,” said President Director Shanti Puruhita in a statement.
“Strategic partnerships and geographic expansion, particularly in eastern Indonesia, are strengthening our top line and proving their long-term potential.”
IPCM began towage services at Tarakan Port in early 2025 as part of its broader effort to extend national service coverage and support maritime logistics infrastructure.
At its annual shareholders’ meeting on June 18, the company approved a final dividend payout of IDR 125.16 billion, equivalent to 75% of its 2024 net profit of IDR 166.84 billion. The dividend equates to IDR 23.72 per share.
Shanti reaffirmed the company’s commitment to delivering shareholder value while maintaining sustainable growth. “We aim to preserve long-term performance momentum and investor trust,” she said.
As part of its environmental, social, and governance (ESG) agenda, IPCM continued to invest in cleaner operations. It has equipped three pilot boats with solar panels and introduced Biodiesel B40 fuel for its fleet. The company is also expanding shore power infrastructure to reduce ship emissions while docked.
In recognition of its sustainability efforts, IPCM received a “4-Star Gold Environmental Pillar” award for its mangrove and tree-planting initiative at the 2025 TJSL & CSR Awards. It also earned a “Silver Award” in the Sustainability Report category from the 2025 Indonesia Social Responsibility Awards (ISRA), in alignment with Global Reporting Initiative (GRI) standards.