Public listed company PT Jasa Armada Indonesia Tbk (JAI-IPCM) enjoyed a 10% profit increase last year (2022) thanks to its appropriate strategies during the economic recovery post-Covid-19 outbreak.
This subsidiary of Pelindo Jasa Maritim Subholding (SPJM) booked a net profit of Rp 150.6 billion, increasing 10% y-o-y, from Rp 136.6 billion reached in 2021.
Its revenue increased by 19.5%, from Rp 820 billion to Rp 980 billion. Among its various services as income sources, the revenue from services of general ports contributed the highest, reaching 51.4% of the total. During the year (2022), revenue from services of general ports reached Rp 504 billion, up 19% from Rp 424 billion in 2021.
The revenue from other services for private terminals (TUKS) reached Rp 171 billion, increasing 17.5% yearly. The contribution of other income sources of vessel maintenance and other marine services reached Rp 54 billion and Rp 51 billion, respectively.
But, the JAI expenses during the year also increased, by more than 18%, mainly caused by marine fuel hikes. JAI reported that total expenses during the year reached Rp 678 billion, from Rp 572 billion in 2021.
These revenues and expenses increased JAI’s operating profit by 9% for the year, from Rp 159 billion (2021) to Rp 174 billion (2022). Its total asset also increased, by 7%, from Rp1.43 trillion to Rp1.49 trillion (2022).
Commending those achievements, JAI President Director Shanti Puruhita said: “Our market expansion and the economic recovery during the year (2022) have helped the corporate to reach such performance. We have taken such an appropriate adaptation strategy during the year of economic recovery.”
Milestones
Some key works support the corporate performance during 2022, including expanding to new markets and acquiring new fleets. In 2022, JAI added three new pilot boats and one tug boat to support its services. JAI also signed several cooperation agreements, including the Service Cooperation Agreement with PT Langlang Laju Layang to do pilotage and towage service in ‘Teluk Weda’. This remained an initial step of JAI to expand the business to Eastern Indonesia.
“One of the milestones in 2022 is the completion of the construction of the Abimanyu V Tugboat. This means that all series of ship construction which were financed using IPO proceeds – Abimanyu I, II, III, IV, and V – have been successfully completed,” Shanti revealed.
In addition, JAI is included in the BUMN 17 IDX-MES (Sharia Economic Community) list. The 17 constituent stocks of the BUMN 17 IDX-MES Index were selected based on the best transaction liquidity in the Regular Market, the largest market capitalization, and also considering financial performance and the level of compliance the good one. The IDX-MES BUMN 17 index can also become a new benchmark for investing in sharia stocks.
As a public company, JAI also commits to improving good corporate governance (GCG), including opening corporate information. And this has been proven as JAI has just obtained an international award from the League of American Communications Professionals (LACP) in the Vision Awards Annual Report Competition in 2022 for the FY2021 Annual Report.
