Public listed company PT Jasa Armada Indonesia JAI (IDX:IPCM) enjoyed a 5.5% revenue increase in first half of this year (H1 2024), thanks to the significant contribution of its non-captive market (the service out of its Pelindo group).
According to the company report, IPCM booked revenue of Rp598.8 billion, a 5.5% increase year-on-year, from Rp 567.6 billion in the same period last year (H1 2023).
Of the total, said JAI President Director Shanti Puruhita, towage service contributes the highest, reaching Rp512.2 billion, around 85.5% of the total. The remaining of other transportation service contributes around 8.1%, which was accounted to Rp48.8 billion.
Revenue from towage service at the special terminals (Tersus), Shanti explained, increased significantly by 27.7%, to Rp183.2 billion, from Rp143.5 billion in the same period last year.
“Thanks to the increasing performance both at the existing and new locations at East Indonesia,” Shanti said in a press statement today, Friday, July 26, 2024.
The contribution of general ports meanwhile grew up by 14.7% YoY, to Rp250.9 billion, from Rp218.7 billion in H1 2023. The TUKS, meanwhile, reached Rp 115.8 billion, increasing 9.6% YoY, from Rp105.6 billion in H1 2023.
Based on the financial balance sheet, she added, IPCM’s performance shows a healthy condition, increasing 4.4%, from Rp 1.52 trillion in the end of 2023 to Rp 1.59 trillion in the first semester of 2024.
“Our efforts to improve operational performance with strategic partners have shown results in line with expectations. The expansion we have made in the Eastern Indonesia region has also shown potential for a higher and increasing revenue,” said Shanti.
She added that the shareholder general meeting RUPST on June 12, 2024 had approved the determination of the use of the company’s profit for the 2023 financial year, totalling Rp 157.6 billion, to be used as a final dividend of Rp 118 billion (approximately 75%) or Rp 22.41 per share.
The Company also prioritizes ESG principles to achieve sustainable business and realize the values of the Sustainable Development Goals (SDGs) shown in the environmental and MSE development aspects.
“IPCM is still committed to shareholders as well as consistently maintaining the company’s growth. This is expected to provide added value and encourage shareholders to invest in IPCM shares,” said Shanti.