Humpuss Intermoda (HITS) Revenue and Profit Grow Simultaneously | HITS

Humpuss Intermoda (HITS) Revenue and Profit Grow Simultaneously

published on : 2023, August 08

JAKARTA - PT Humpuss Intermoda Transportasi Tbk (HITS) recorded solid financial performance in the first semester of 2023, following with simultaneously growth in both revenue and profit.


Based on its financial report, the Company managed to increase its profit for the year attributable to owners of the parent entity by 33.23% year-on-year (yoy) to US$ 10.04 million as of June 30, 2023, from US$ 7.54 million in the same period last year.


The strengthening of the Company's net profit is in line with the increase in operating revenue to US$55.36 million in the first half of this year from US$54.08 million in the period ending June 30, 2022.


Chemical vessel charter services contributed the highest revenue of US$15.03 million during the first six months of this year, followed by liquefied natural gas (LNG) vessel charter services of US$13.44 million.


The remaining revenue was contributed by the crude oil and fuel vessel charter services segment, offshore support services, dredging and reclamation services, and marine support.


HITS' President Director Tonny Aulia Achmad said that the strengthening of the Company's top and bottom line performance could not be separated from the support of various parties, including consumer confidence in using the services of the Humpuss Group.


"With the improvement in current economic and industrial conditions, we are confident that we can continue to maintain a growing financial performance in the future," he said through a press release, Monday, July 31, 2023.


Qualified financial management has also been carried out by the Company, as evidenced by the annual increase in total equity from US$79.78 million to US$87.25 million in the first semester of 2023.


In the same period, total liabilities decreased to US$142.52 million compared to the same period last year US$150.14 million. This condition was mainly supported by the payment of short-term liabilities.


"A strong financial posture and the opening up of opportunities in the maritime industry at home and abroad after this pandemic will provide broad benefits for us, including for HITS shareholders," concluded Tonny. 



New Projects Support


In supporting the Company's performance, HITS has also signed a Memorandum of Understanding (MoU) with PT Padoma Global Neo Energi, an energy management company including liquefied natural gas (LNG) providers and infrastructure in West Papua.


The two companies agreed to cooperate in the field of energy transportation and distribution services as well as jointly market and manage LNG originating from West Papua.


"This partnership is expected to mark the beginning of a strong and long-term cooperation," Tonny said. Going forward, we will develop our business organically with our subsidiaries, while inorganically through business partnerships and strategic partnerships with external parties for business expansion, as well as Humpuss' business continuity, he added.


He explained the business partnerships and strategic partnerships that Humpuss Intermoda is currently running, among others through the signing of the MoU to support the West Papua Government in providing LNG infrastructure for power plants in Jayapura through cooperation with BUMDs in West Papua such as Padoma Global, following with other strategic partners shortly.


The signing of the MoU is to support the West Papua Government in providing LNG infrastructure for power plants in Jayapura through cooperation with BUMDs in West Papua such as Padoma Global.


In terms of the impact of the cooperation, it is estimated that it will affect the company's performance, especially with the transportation potential of the total liquefied natural gas production in the West Papua region which reaches 800,000 Metric Tons/year (MTPA).




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