Photo: Ricky Effendi, TEMAS President Director
National Shipping Company PT TEMAS experienced an 11% drop in profit for 2024, despite a continuous rise in revenue. The profit decline was largely attributed to higher operational costs throughout the year. Nonetheless, the company remains committed to a robust capital expenditure (Capex) plan in 2025, with a significant portion allocated for the procurement of a new fleet.
TEMAS, a publicly listed shipping company with the IDX Code “TMAS,” reported a net profit of IDR 721 billion in 2024, down 11% compared to IDR 815 billion in 2023.
Despite the profit decline, TEMAS saw a slight revenue increase in 2024, posting total revenue of IDR 4.34 trillion—up 1% from IDR 4.30 trillion in 2023. However, total costs rose by 8%, reaching IDR 3.44 trillion, compared to IDR 3.19 trillion the previous year.
According to President Director of PT TEMAS Tbk, Ricky Effendi, the decrease in profit was primarily due to market dynamics and the rise in fuel prices, which are significant components of ship operating costs.
“Despite these challenges, we remain optimistic and have developed strategies to navigate the year ahead,” Effendi stated, as quoted by several national media outlets.
During the 2024 Annual General Meeting of Shareholders (AGMS), TEMAS shareholders approved the distribution of cash dividends amounting to IDR 228.2 billion, or IDR 4 per share. Additionally, retained earnings, whose use remains undecided, were recorded at IDR 493.3 billion.
At the same AGMS, Ricky Effendi was officially announced as the new President Director, succeeding Faty Khusumo, who resigned. Ricky, along with fellow directors Ganny Zheng and Widy Kiswanto, will serve until the closure of the 2026 AGMS.
IDR 3 Trillion Capital Expenditure Plan for 2025
Looking ahead to 2025, TEMAS has earmarked a capital expenditure (Capex) budget of IDR 3 trillion. This substantial investment will focus on the procurement of new fleets, as well as the acquisition of equipment and tools for the company and its subsidiaries. TEMAS also expects its consolidated revenue to exceed the previous year’s figures.
Ricky Effendi emphasized that in 2025, the company would continue to optimize its performance to strengthen its competitive position. This will involve enhancing its shipping, port services, and depot and warehousing operations.
“With the strategies we’ve developed, TEMAS aims to continue its business growth and offer more environmentally friendly and efficient logistics solutions in 2025,” Effendi concluded, following the Extraordinary General Meeting of Shareholders (EGMS) in Jakarta on Monday (March 24, 2025).