Shipping company expects improved earnings as freight demand remains resilient, supply chain disruptions ease, and strategic investments advance despite profitability pressures from higher fuel costs and geopolitical uncertainty
PT Samudera Indonesia Tbk (SMDR) expects business performance to improve in the second half of 2026, supported by sustained demand for freight services and easing disruptions that weighed on the shipping industry earlier this year.
President Director Bani Maulana Mulia said cargo activity in both domestic and international markets remained strong, providing a solid foundation for the company’s growth amid continued economic and geopolitical uncertainty.
The company has yet to release its second-quarter financial results, but management said early indicators point to improving operating conditions as supply chains adapt to changing trade patterns and global market disruptions.
“Adjustments to various disruptions have begun to occur, and operational costs are still being managed well. We hope this improvement will begin to be reflected in second-quarter results,” Bani said during a public expose on Wednesday, June 24.
The outlook comes after the company reported mixed results in the first quarter of 2026. Revenue rose 1.75% year-on-year to US$184.33 million from US$181.15 million a year earlier, supported by higher freight volumes across its shipping and logistics businesses.
However, net profit fell 34.67% to US$10.13 million as rising operating expenses offset revenue growth.
According to Bani, profitability was pressured mainly by higher fuel costs triggered by geopolitical tensions in the Middle East, which increased the company’s overall operating expenses during the first months of the year.
Despite the earnings decline, Samudera Indonesia continues to pursue expansion plans aimed at strengthening its long-term competitiveness.
The company has allocated US$300 million in capital expenditure for 2026, with around a quarter of the budget already utilized by mid-year. The spending is focused on fleet development, infrastructure projects, and capacity expansion to support growing logistics demand.
One of the company’s key strategic projects is the construction of a shipyard in Madura, East Java, financed through proceeds from a sukuk issuance. Construction progress has reached approximately 27%, and the facility is scheduled for completion by the end of 2027.
Management expects the shipyard to strengthen operational efficiency and support future growth by enhancing vessel maintenance and shipbuilding capabilities.
Rp196.5 Billion Dividend Approved
Shareholders also approved a cash dividend payout totaling Rp196.5 billion, equivalent to Rp12 per share, for the 2025 financial year during the company’s Annual General Meeting.
The dividend consists of an interim payment of Rp40.9 billion, or Rp2.50 per share, distributed in August 2025, and a final dividend of Rp155.6 billion, or Rp9.50 per share.
The payout follows a year of improved financial performance. In 2025, Samudera Indonesia recorded revenue of US$801.7 million, up 9% from the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 18%, while net profit rose 3% to US$52.1 million. Earnings per share grew 6%.
The company’s financial position also strengthened. Total assets increased to US$1.43 billion at the end of 2025, with equity reaching US$773.5 million. By the end of the first quarter of 2026, assets had climbed to US$1.46 billion and equity to US$785.3 million.
Management said the results demonstrate the company’s resilience amid global challenges and provide a foundation for sustainable growth as demand for shipping and logistics services remains robust.