PT Samudera Indonesia Tbk (SMDR) reported a net profit of US$ 50.7 million for the year 2024, a 32% decrease compared to US$ 74.6 million in 2023. Despite this decline, the company’s asset value rose by 3% year-on-year, reaching US$ 1.288 billion.
This drop in profit aligns with a reduction in Samudera Indonesia’s overall revenue. The company’s revenue fell by 5%, from US$ 722.4 million in 2023 to US$ 737.4 million in 2024.
Bani M. Mulia, President Director of Samudera Indonesia, explained that although the decline in revenue is evident when compared to the last two years, the performance remains relatively strong in the context of the current economic environment.
“While this performance is lower than 2023, we had anticipated 2024 would present more challenges,” Bani noted during Samudera Indonesia’s Performance Report for Fiscal Year 2024, delivered on Tuesday, March 26.
“However, the results are much better than our initial forecasts at the beginning of the year,” he said.
Bani emphasized that the decline was not due to any specific issues or operational obstacles, but rather the result of general market conditions driven by supply and demand.
Despite the dip in revenue, Samudera Indonesia saw a notable increase in its total assets. The company’s assets grew by 3% year-on-year, reaching a new high of US$ 1.288 billion in 2024.
“The company’s assets are at an all-time high, which is a testament to our solid position,” Bani said.
Looking ahead, Samudera Indonesia plans to implement several strategies aimed at improving performance in a challenging environment.
These include managing costs more efficiently by maximizing the use of newly delivered ships and expanding operations in high-demand markets, such as Europe.