Humpuss Maritim Internasional Tbk (HUMI), a company specializing in energy transportation and integrated maritime services, has announced impressive financial results for the third quarter of 2023. The company achieved a net profit of $11.6 million USD during this period, marking a substantial 33.7% increase compared to the same quarter in the previous year when the net profit stood at $8.7 million USD.
The remarkable growth in net profit can be attributed to the company’s effective optimization of vessel operation contracts with its customers. This optimization has not only resulted in increased revenue but has also contributed to an enhanced overall performance. Tirta Hidayat, the CEO of Humpuss Maritim Internasional, emphasized this achievement, stating, “Throughout 2023, the company has successfully optimized vessel operation contracts, driving revenue growth and improving our overall performance.”
From a financial standpoint, as of September 30, 2023, the company’s total assets amounted to $254.6 million USD, reflecting a significant increase from the year-end 2022 figure of $241.2 million USD. Furthermore, the total liabilities of the company increased from $76.2 million USD to $90.5 million USD on the same date. The company’s equity also experienced growth, rising from $137.9 million USD to $164 million USD as of September 30, 2023.
Tirta Hidayat expressed his optimism about the company’s performance, particularly with the addition of new vessels that are expected to boost the subsidiary companies of HUMI in line with the growth in the shipping industry.
As part of its business expansion efforts, the company has allocated approximately IDR 170 billion from the proceeds of its initial public offering (IPO) for business expansion. This allocation includes the purchase of vessel units for its subsidiary companies, such as PT PCS Internasional, PT Humpuss Transportasi Curah, and PT OTS Internasional. The remaining funds, around IDR 80 billion, will be utilized to finance working capital.
The company has set ambitious targets for the future, aiming for an 83% increase in revenue and a 21% increase in net profit over the next one to two years, driven by its robust business expansion plans.
