Public listed company PT Jasa Armada Indonesia (JAI/IPCM) posted a 5.8% rise in net profit for the year 2024, reaching IDR 166.8 billion, up from IDR 157.6 billion in the previous year (2023). The company has reported a remarkable revenue of IDR 1.3 trillion for the year 2024, reflecting an 18.1% increase from IDR 1.1 trillion in 2023.
IPCM also experienced growth in operating profit, which increased by 12.9%, rising from IDR 183.8 billion to IDR 207.4 billion. Furthermore, the company saw a notable increase in total assets, which grew by 8.4% from IDR 1.5 trillion in 2023 to IDR 1.6 trillion by the end of 2024.
The primary driver of IPCM’s revenue in 2024 came from its towage services, which accounted for IDR 1.2 trillion, or 85.9% of total revenue. The company also generated IDR 91.7 billion from pilotage services, with the remaining revenue of IDR 98 billion coming from transportation and other services.
Shanti Puruhita, JAI President Director, credited the strong performance to the company’s expanding market share and the trust and support from customers and business partners. This partnership was instrumental in the successful execution of IPCM’s commercial strategy throughout 2024.
Shanti also highlighted the company’s optimism for the future, stating, “IPCM continues to grow stronger, and we have enhanced our capabilities by entering into new cooperation agreements, such as providing tugboats for ship towing services at the Port of Tarakan in North Kalimantan.”
To further strengthen its operational fleet and service capacity, IPCM is investing in two new tugboats as part of its strategic expansion efforts.
In terms of market segmentation, the largest contributor to IPCM’s 2024 revenue was general port services, which made up 39.7% of total revenue. This was followed by terminal services for owned use (TUKS), which generated IDR 230.7 billion or 17.1% of revenue, and Special Terminals (Tersus), contributing IDR 481.4 billion, or 35.8%. The remaining IDR 98.4 billion came from transportation and other services.