JAKARTA (ISL News) – This month (November) and December 2024, PT Samudera Indonesia Tbk. (SMDR) will again receive 3 (three) new ships for container cargo. With the receipt of the 3 new ships, the target of procuring 12 new fleets of ships this year (2024) has been met.
This was stated by Samudera Indonesia's President Director, Bani Maulana Mulia, during the Public Expose of Samudera Indonesia's Performance Report for the third quarter of this year.
"This month (November) the Company will receive 2 container ships and 1 container ship in December 2024. In November we will receive one container ship and become 10 ships from a total of 12 ships that we are scheduled to receive throughout 2024," explained Bani in a public presentation that took place online, last Thursday, October 31, 2024.
Bani M. Mulia said, the 3 ships received by the Company in November and December are all container ships. Then 2 of the ships have a volume of around 600 and 700 TEUs while 1 container ship is 1,900 TEUs.
On that occasion, the President Director of Bani M Mulia, said that the absorption of CAPEX for the addition of this fleet absorbed the majority of the budgeted CAPEX of US$280 million this year (2024). "For the procurement of the fleet of ships, it absorbs capex worth US$120 million," he said.
Performance on Target
Regarding the Performance Report, Bani. Mulia President Director said that the performance declined but was still in accordance with the target expected by the Company's management.
"In the third quarter of 2024, SMDR recorded service revenue of US$529.49 million, or down 7.12% from US$570.12 million in the same period in 2023. Net profit attributable to owners of the parent entity fell 35% to US$41.34 million from US$63.62 million in the third quarter of 2023," explained Bani.
Regarding Performance, it was influenced by the decreasing freight rate . However, the Company's performance in the third quarter of 2024 was still better compared to the previous two quarters (quarters 1 and 2) this year (2024).
"As can be seen compared to the third quarter of 2024, entering the fourth quarter, the freight rate decreased again and currently the freight rate in October in the third quarter of 2024, several routes are lagging like that and this is reflected in the income received. I can only say, the profit target we received is better than the budget we targeted at the beginning of 2024," he explained.
Furthermore, Bani projected that the downward trend would continue in the fourth quarter of 2024. However, SMDR emphasized that the performance recorded in the third quarter of 2024 was better.
"We have just entered November 2024, there are still 2 months to be able to conclude the performance of the fourth quarter of 2024, but the prediction is seen from October, the trend in the third quarter of 2024 will continue," he explained.
For the amount of Samudera Indonesia's assets as of the third quarter of 2024, it was US$1.28 billion from US$1.25 billion at the end of 2023. The amount of liabilities was US$559.86 million from US$571.44 million at the end of 2023. Meanwhile, the amount of equity was US$722.23 million from US$685.51 million at the end of 2023, Bani added.
(ISL News Editorial Team/email:islnewstv@gmail.com).
